Bitcoin mining difficulty rises by 6.48%, what will happen to the market?
I believe that many friends have heard the news about "Bitcoin mining difficulty increased by 6.48%". So what does the rising difficulty of Bitcoin mining mean? Next, Prof.Lune will explain to you what impact the "increasing difficulty of Bitcoin mining" will have on the next market.
What is mining?
First of all, we need to understand what mining is. In essence, mining is a "crypto puzzle" given by Bitcoin. Miners must solve this problem in order to get a BTC reward for a new block. This decryption process is mining.
So what is the so-called mining difficulty? Why does it rise?
What is mining difficulty?
At the beginning, in 2010, Bitcoin could be mined with a personal computer. As everyone discovers the value of Bitcoin, more and more computers are used for mining, making it more and more difficult to mine. So people began to use professional mining machines, because professional mining machines have greater mining power and are easier to mine BTC rewards. The mining power mentioned here is the hashrate that GalaxyHashrate provides for users to sell, which can also be called mining power.
With this mining difficulty, the security of the network can be ensured because it can prevent fraud.
What does the increase in mining difficulty mean?
Simply put, the difficulty of Bitcoin mining is also a weather vane. When the difficulty is small or continues to fall, it indicates that the mining power of the entire network is declining, and the entire mining industry is getting cold ; When the difficulty of mining is high or continues to rise, it indicates that more mining machines are on the shelves, the market is full of confidence, and the entire mining industry is picking up.
From this, it can be known that as the difficulty of mining increases, the number of bitcoins mined will decrease, and the cost of mining machines and mining power will also increase.
The current price of our mining machine products is Rs 2782/1T, which can be said to be the lowest price in the world. Because the difficulty of Bitcoin mining has increased this time, the price of our mining machine products may also increase accordingly. Maybe this is your last chance to buy our mining power products at the world's lowest price.
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