Ethereum: Can casual people still mine for bitcoins, now difficulty is much higher?
In October 2012, Ethereum Blockchain was still in infancy, with a relatively difficult time from 1000 to 2000. Howver, as we all know, the cryptocurrency landscape has been an important signal. One of the moments is increased difficulty getting Bitcoinus on the Ethereum network.
As you may have noticed, the latest videos and ads claim to be still everyday to mine for bitcoins using a relative amount. But is this a real case?
Reality: Difficulties have increased
In order to understand everything, we need to bring the blockchain Mying Works Ddail. Etherum Network A Preparation (POW) Consensus algorithm, one of the necessary important computing resources to approve Tource Tource. Difficulty in the Ethereum network has increased, which means fertilizer resources:
Scalability : As more USR joins the platform, the network becomes overloaded, more than more than consumption and reduced minor profit reduction.
* Increased transaction volume : When developing transactions, the network needs more compilative power to confirm it.
* New Mining Algorithms
: The introduction of new mining algorithms is reduced during the block and increases the two -dimensional level, makes it safe for bitcoin.
Difficulty Level: Critical Mass
As you, the current difficulty level exceeds 3,000,000. This means that only a small percentage of miners can compete for reward, making it extremely challenging to make a profit from the mining. To print it too big:
* Current Block Reward : The locking compensation is currently set to 6.25 BTC per block, translating to about $ 1,500.
* Power Consumption
: According to calculations, the energy needed for Synle Bitcoin digging has increased by 100 times in 2012.
Can casual people still mine?
While this is theoretically, casual mines are for bitcoin using LO-output hardware, Souch as a GPU or ASIC e reality is that it needs a set of resources:
* Power Consumption : Approximate device power consumption can reach up to 100-200 watts or more.
Cost : Buying and maintaining these devices would be forbidden to expensive, making it unlikely to occasionally Toric.
In conclusion, this is a network of ether, which is relatively access, the difficulty level has increased significant mustard. As a result, this is not long -lasting if the case of case mine bitcoins uses cheap hardware. If you are interested in participating in cryptocurrencies, you will need to undergo the infrastructure you need, the power requested.
Conclusion *
The recent administrators that casual people can still be bitcoins on the Ethereum network are a myth. There is an increased difficulty in challenging the richness of traditional mining operations. If you are infected with cryptocurrency, there is an external area, such as investing a legal exchange or breaking the party programs.