What is bitcoin’s difficulty?


#1

What is bitcoin’s difficulty?

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#2

Difficulty is an indicator of how difficult it is for miners to mine Bitcoin. The higher, the more difficult to miner Bitcoin.

Difficulty has been rising over time. People who wants to purchase cloud mining contract must factor in Difficulty. For example, cloud mining contracts are not profitable due to Difficulty rises over time.

Difficulty is presented in a number which is a result of a simple mathematic formula consists of Targets:

Difficulty = Max Target / Current Target

The Difficulty is adjusted every 2 weeks by changing the Current Target while Max Target always stays the same. As the Current Target gets lower, the Difficulty rises.

As more hash rate got poured into Bitcoin mining, the Current Target keeps dropping to maintain roughly one block is mined every 10 minutes.

5 yr Difficulty Chart: https://data.bitcoinity.org/bitcoin/difficulty/5y?t=l