A short visual on what Bitcoin mining difficulty is and how it can affect your crypto mining business.

1. BITCOIN MINING
DIFFICULTY
BITCOINMININGSOFTWARE2019.COM
PRESENTS
WHAT IS IT AND HOW IT WORKS?
WHAT IS IT?
There are many "noob friendly" definitions of Bitcoin
mining difficulty, but I didn't find one that's as easy
and simple as it should be.
Bitcoin mining difficulty is a measure of how hard
it is to mine 1 Bitcoin, or in recent years- how hard
it is to mine a portion of Bitcoin.
IT'S NOT A CONSTANT BUT A
VARIABLE.
This means that the mining difficulty for Bitcoin isn't
fixed- it changes with the time, and the time is usually
around 2 weeks.
MINING DIFFICULTY IS
CORRELATED WITH THE HASH
POWER.
higher hashing power means higher difficulty- making
it harder to mine 1 BTC. But also, lower hashing power
means lower difficulty- making it easier to mine 1 BTC.
IN PRACTICE, THE MINING
DIFFICULTY ALSO CORRELATES
WITH THE PRICE
When the price goes down, some miners lose their
interest, thus the difficulty goes down as well. When
the price goes up, more miners have an incentive to
mine, so the difficulty goes up again.
WHAT TO DO WITH IT?
Once you get the grasp of this Bitcoin rule, you'll be
able to consider it while running your mining
operation. For example, when price is down not
everything is lost- when difficulty goes down as well,
you'll earn more of that coin, plus you can hoddle and
sell it when the price rise again.
FIND OUT MORE AT:
HTTPS://BITCOINMININGSOFTWARE2019.
COM/BITCOIN-MINING-DIFFICULTY-
WHAT-IS-IT-AND-HOW-IT-WORKS/