It looks to me that the difficulty of mining seems to rise in correlation with the price of Bitcoin. I would assume that's because as the value of Bitcoin increases, more people get into mining, and thus the difficulty rises. I would also go as far as to assume that the opposite is also true. As in if the price were to decrease, so too would the difficulty.
Does this rule out difficulty as a plausible threat to miners? In the scenario that the difficulty cancels out any potential reward, wouldn't that cause people to stop mining. Which in turn would lead to the difficulty lowering itself to account for the smaller hashrate. In the end this cycle should ensure that the difficulty never completely puts an end to mining.
My final question is this, is my logic here correct, or is there something I'm not taking into account? Any and all feedback would be appreciated!
Submitted February 24, 2018 at 03:42AM by Dinamo213 http://bit.ly/2HGXhH1
No comments :
Post a Comment