The Bitcoin algorithm was designed to make that mining process increasing more difficult as more blocks are added to the blockchain.
As most people do not own equipment capable of reaching such lofty goals another option would be to join a mining pool. Groups of miners work together to find the solution that reaches the reward; which is then split between the participants.
So, the difficulty in mining is one that comes from tracking each Bitcoin transfer, with every transfer in every block before it, since the history of the coin.
Hardware Mining vs Pool Mining
Posted in Crypto Mining on Apr 01, 2018The beginning of Cryptocurrency mining is frequently portrayed as a dash for unheard of wealth. Satoshi Nakamoto's development of Bitcoin, "a shared electronic money framework," opened up an altogether new wilderness of opportunity for profit.
Proof of Work (POW) in Crypto Mining
Posted in Crypto Mining on Apr 04, 2018Proof of Work (PoW) as the name states is the approval of the work that happened and demonstrating it is right.
Bitcoin Mining Explained
Posted in Crypto Mining on Apr 04, 2018Mining crypto coins is an arms race of sorts. This race has only one prize; the block. Whoever has the computer that solves the algorithm first, gets the block of coins.
Hashflare Cloud Mining Review
Posted in Crypto projects on Apr 15, 2018In the crypto sphere there are no "mints" printing our money. To create cryptos we must "mine".
Nuvoo Mining: Canada Based Crypto Cloud Mining
Posted in Crypto projects on Apr 15, 2018Our regular readers and social media followers are aware of my general skepticism concerning cloud mining. There are simple too many opportunities for a scam. Hence, my own propensity for small scale software pool mining.