Is Bitcoin Mining Difficult?

Bitcoin mining is a time-consuming process. But whether it is difficult will depend upon the effort being put by the miner. The effort will again depend upon the computer system being used. If it is new with all latest components, it is bound to work faster than an old used computer. The bitcoin software lays out a protocol where the bitcoin network adjusts the difficulty level of the mining every 2016 blocks or once in every two weeks.

If the computing power is more than the difficulty level goes higher making mining hard. Similarly, if the computing power is lowered the difficulty level also adjusts to a lower level.

When you are calculating the share, you get, the booty will be less if the number of miners in your pool is many while your share will be more when the number of miners is lower. The pay-out will eventually depend on many other factors too like the price of bitcoin, number of people mining, transaction fees. Your investment will be on a fast and performing hardware with access to the internet. With hardware like ASIC (Application Specific Integrated Circuit) nowadays mining is more cost-effective than what it was a few years earlier.

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