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You're reading from  Hands-On Bitcoin Programming with Python

Product typeBook
Published inAug 2018
Reading LevelIntermediate
Publisher
ISBN-139781789537000
Edition1st Edition
Languages
Python
Tools
Bitcoin
Concepts
Cryptocurrency
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BignumWorks Software LLP
BignumWorks Software LLP
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BignumWorks Software LLP

BignumWorks Software LLP is an India-based software consultancy that provides consultancy services in the area of software development and technical training. Our domain expertise includes web, mobile, cloud app development, data science projects, in-house software training services, and up-skilling services
Read more about BignumWorks Software LLP

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Increasing difficulty in mining bitcoin

Because of the increasing competition and difficulties, there are many factors that must be borne in mind when mining bitcoin, as shown in the following list:

  • Bitcoins are getting more expensive day by day because of competition
  • Many supercomputers across the globe are in competition to mine the next block and bitcoin
  • As the number of bitcoin miners has increased, it has become more problematic and overpriced to start mining new bitcoin

For example, the following screenshot shows a chart of how the difficulty of bitcoin mining has been increasing; for more information refer to https://bitcoinwisdom.com/bitcoin/difficulty. This particular chart shows values from the last two months. This recent trend reflects the increasing difficulty that began when bitcoin was first created:

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Hands-On Bitcoin Programming with Python
Published in: Aug 2018Publisher: ISBN-13: 9781789537000
© 2018 Packt Publishing Limited All Rights Reserved

Author (1)

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BignumWorks Software LLP

BignumWorks Software LLP is an India-based software consultancy that provides consultancy services in the area of software development and technical training. Our domain expertise includes web, mobile, cloud app development, data science projects, in-house software training services, and up-skilling services
Read more about BignumWorks Software LLP

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