The difficulty for bitcoin is to mine to take a two-thirds increase in the third quarter of 2019.
Contents
Each quarter, a 42 percent increase in
Analyst Kevin Rooke looked at the data on the degree of difficulty, since in 2016. He came to a remarkable conclusion. On average, the level of difficulty, since 2016, and every quarter, a 42 percent increase.
Bitcoin mining difficulty has been growing by 42% PER QUARTER over the last 3 years!
Difficulty is projected to grow 60% this quarter, and it was already at an all-time high and when Q2 ended ? pic.twitter.com/eFuyg1ZiXa
— Kevin Rooke (@kerooke September 19, 2019 at the latest
Each quarter saw an increase, with the exception of the fourth quarter of 2018, the highest peak (actually a trough of the bear market of the past few years. However, if you look at 2019, then it appears that the growth is almost parabolic rise.
“The difficulty is expected to be up this quarter, with a 60% increase in size, and it was already at an all-time high when, for the second quarter ended,” writes Rooke, in a response to his tweet.
But what is the difficulty level actually do?
The difficulty level gives you a specific goal as to what must be achieved in order to ‘win’ with mine. For this purpose, in turn, on how large or small, on the winning number, it must have been that miners have to find it.
Example: let’s assume you have a table that contains 1000 cups. Under each cup is a piece of paper with a number from 1 to 1000. On the easiest difficulty level, you ask a miner to be a number between 1 and 1000. He did so on his first attempt, has already been found. We are a bit more difficult. He should be a number between 1 and 500 and to find. That is all the more difficult. A friend of the miner comes running up and wants to join in as well. Together, the two find they have a number between 1 and 500. Now is the time to be easy, they will find the number very quickly. Out of nowhere comes the call, and like, ten others will join in as well. The system should now regulate it to make it even more exciting. Now you have to go in search of a number between 1 and 5.
Always up to date with the latest cryptonieuws?
To receive the newsletter
Only a nonce-use
As a miner, shoot a number, an algorithm and that number, along with the numbers from the last block to come will be mixed up into a solution. That result must be lower or equal to the degree of difficulty. The miner has only the effect of the number match to what he and the algorithm stops. And that number is called the nonce.
If you want to know everything about mining, blockchain and difficulty, it is best to go to the article Block, Interpreted, and read it.
The influence on the bitcoin price
The computing power of all the miners on the other deliver, is also referred to as the hash rate is listed. If the hash rate the easy it is to mine, the difficulty is that it happens every two weeks approximately. The difficulty level is a good indicator of the development of the hash rate of the bitcoin network.
Analyst, Willy, But I found a strong correlation between the price of bitcoin and the difficulty. He has developed and the difficulty that year.