Why is Bitcoin mining losing money (why is Bitcoin mining becoming increasingly difficult)

Why Bitcoin Mining Losses Bitcoin Mining Losses Why Bitcoin Mining Losses? Today, I will briefly popularize what Bitcoin mining is and what its impact will be Why miners make money? Many people’s understanding and investment of special currency are based on two concepts: mining a currency to obtain profits. But in fact, many times mining is not profitable; For example, when you buy a mining machine, the price is not cheap (even cheap). So when we see these things as high profit things, we know we’re playing this game, and if you really think there’s a problem with your computer, then you can try to find another way to solve your problem Secondly, why miners make profits? Firstly, we need to understand that everything has risks, including the rise and fall of computing power. Therefore, digging out is easier than others. And if you want to participate, you must have a certain level of financial strength to ensure success and long-term sustainability. All of this needs to be proven by luck! Otherwise, it’s because no one is willing to take on this responsibility! But as long as you have good hardware or software, you can ensure that your machine runs well and is not damaged. This makes the excavated Bitcoin worthless. So, in order to avoid being deceived, miners will choose to shut down the machine. This way, the coins dug up will not become garbage or air coins, but will be attacked like other digital currencies, ultimately leading to a market crash and fewer people entering. So remember, mining is also a very dangerous technology, especially in markets where extreme market conditions have often occurred. 3、 What are the benefits of mining now

Why Bitcoin mining is becoming increasingly difficult

Editor’s note: This article is from the Caiyun blockchain (ID: cybtc_com) and is reprinted by the Daily Planet with authorization In recent years, the Bitcoin mining industry has become increasingly difficult. Because people in many countries are using their own machines to carry out mining work now – and they are foreign personnel who have sold these equipment, making mining more difficult in the domestic market. So how can it become a good project? 1、 Mining costs continue to rise. At present, most mining machines in the market are produced by Bitmain. If you want to buy a new ASIC chip, you need to purchase the latest generation mining machines such as Antminer S19Pro or S17Pro; If you want to directly open some new mining machine hardware and GPU sockets, you need to choose Samsung S9s+or Ant A7e series chips. Therefore, mining is cheaper and more profitable for ordinary users. 2、 There are more and more reasons for the theft of the Cryptocurrency exchange. It is reported that Coinbase, one of the largest cryptocurrency asset trading platforms in the world, has suffered two losses: “I started doing cryptocurrency asset trading business in 2014, when we saw that many large U.S. securities regulators expressed doubts about BitMEX and the clearing procedures of the entire digital currency market”. In addition, according to BitInfoCharts, over $10 million has been transferred to other wallets in the past year, with a value of nearly $2 billion. 3、 Because the price of Cryptocurrency fluctuates too much, the price of Bitcoin has been falling. Since March of this year, there has been a series of declines, the most serious of which is the sharp drop in Bitcoin futures prices of Coin An, which led to a decline in Bitcoin prices, but later showed a rebound trend. This makes some people believe that although many investors are willing to use BTC now, they have not truly held BTC. 4、 The mining threshold has been continuously lowered. In recent years, many countries have increased their investment efforts to cope with the risks in the mining industry, such as the UK, Germany, France, Russia, and so on. However, as the price of Bitcoin increases, the mining threshold is gradually decreasing. “Nowadays, mining faces problems such as high fees. Many people don’t understand why it is so expensive,” said a senior computer engineer, Every transfer in the Bitcoin network requires a fee of $1 to ensure safe operation. However, when you want to perform an operation through a smart contract, various complex problems often arise. For example, if you have a graphics card on your computer that doesn’t work properly, once the software crashes, it will generate new algorithm errors, “he added, Even without any improvements, you can still control your computer and ensure that no one offends your rules. Fifth, the competitive advantage of Bitcoin mining is becoming increasingly fierce. Currently, some large companies around the world are trying to enter the Bitcoin mining field, including countries like China and Canada,