Bitcoin fragmentation has jumped almost three times since the same time last year, which has significantly affected Bitcoin mining around the world.
We were at 43 TH / s and now we are at about 120 TH / s.
The records are broken in terms of fragmentation and as the half-date approaches, the profitability of Bitcoin mining for younger players decreases.
Therefore, it would be better to consider extracting some other alternative cryptocurrency.
How long does one Bitcoin mining take?
This question has no fixed answer because there is something called mining difficulty. It is a dynamic parameter that controls the fragmentation force needed to open a bitcoin block.
New bitcoins are created approximately every 10 minutes, but the ability to earn newly created bitcoins depends on the amount of mathematical power you have.
Relative to the amount of computational power present on the network.
One of the strengths of bitcoin is that the cost of successive bitcoins is increasing steadily.
So there is no standard difficulty: the first was easy, and the last will be very difficult.
This can be illustrated as follows:
Upon discovering a new block, a bonus is currently earned at 12.5 bitcoin (in addition to the included transaction fees).
There is a fixed number (more or less) of 1,800 bitcoins obtained from mining every day, until half of the bonus is reached in 2020.
These digital parts can be considered shared by the entire network in proportion to the computing power of each metal.
What most miners, both adults and children, do as a group mining.
Where you can contribute computer power within a group.
It actually mining and rewarded a small portion of the Bitcoin coin you acquired.
With this system, one bitcoin can be mined when the contribution is about 1/25 of the computing power to discover a mass.
The problem is that the bitcoin difficulty is constantly tuned to keep the average time between two more or less fixed blocks in 5 minutes.
This means that the more computing power assigned to bitcoin mining collectively, the more computing power will be to discover next bitcoin bits.
Which led to a crazy arms race between everyone involved in Bitcoin mining, which means that it is now virtually impossible to extract anything important with non-specialized devices like regular computers.
Mining workers now use ASICs, which are dedicated and designed hardware for mining bitcoins and cryptocurrencies that have the same basis of encryption.
Which cannot do anything other than that and is more energy efficient than general purpose computers.
Finally
To obtain bitcoin, special ASIC equipment manufactured only for bitcoin mining is required.
To solve a complete block of 12.5 bitcoins with individual mining in one month, you will need about 3000 TH / s.
Total hash: 14 million / s divided by 6 * 24 * 365/12 = 4380 pieces per month = 3000TH / s.
So you need about 115 times the "AntMiner S9" device, which costs around $ 1288, or $ 148,120.
Great and big thanks to the founder and co-workers of Bitcoin. I just got my first payment today.