The Bitcoin is a unique electronic currency and the homonymous payment system. This currency has several advantages compared to other payment methods both online and offline.

  • First of all, it is famous for the fact that no regulator has power over it. We can say that this is democracy in its purest form. No body has authority to intervene into the operation of the system.
  • Also the anonymity of the system has of the great importance. You only have a special address, which consists of number, and letters, that generated randomly. Moreover, you can generate the address in just a few seconds, so for each new operation you can open a new address.
  • The security. All transactions happen with the data encryption by the latest algorithms. In addition, you have a public and a personal key for access to your money that complicates theft to hackers.

Not surprisingly, that the Bitcoin continues to be an attractive cryptocurrency, many can mine it, sell, buy, and acquire goods for it.

Any cryptocurrency, including the BTC, has such a characteristic as the difficulty level. From this level depends, how many cryptocoins you can get per time unit. It is logical that the greater the hardness, the less the BTC you can get.

The difficulty of the bitcoin mining is changed 2 times a month. Why? It is actually very simple. Only when the BTC was created, its developers have laid in the algorithm a certain number of coins, which should be mined for 2 weeks. If for some reason miners were able to get more cryptocoins, the complexity is automatically increased, so that the mining was slower.

Now you can logically calculate – if the difficulty of the cryptocurrency mining increases, then a level of hashrate power, that is needed for producing, increases. If the capacity level increases, so the number of miners increases, respectively, more people know what the bitcoin is, and begin to show an interest to it.

This leads us to one conclusion – the more people interested in the BTC, the more growing its price. This is true for any cryptocurrency – if the complexity of the mining increases, it causes interest and the cost will increase.

There is a quite big and piled up formula by which you can calculate how many the BTC you can mine for the defined complexity. We can tell quite easier – the production rate is in inverse proportion to the complexity. That is, if for example the difficulty increased by 20%, you will be able to mine at the same hashrate less on 20%.
From what was said in the article, it should be clear that if you change the complexity of the mining the price also will change, however, there is a caveat – there is no direct relation between these two parameters. If you look at the issue from the logically point of view, the harder to mine the bitcoin, the higher should be its price, but the price on the BTC consists not only from the difficulty but also from the demand and other characteristics.

Surely, some of bitcoinists know that the algorithm of the cryptocurrency provides for reduction of the volume of its production twice every 4 years. That is, every 4 years the reward for miners decreases exactly in 2 times, and everyone get two times less coins for the same level of the capacity. This process also affects the cost of the cryptocurrency – normally it grows. For example, the last time the price soared from $ 12 to 1000.

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