Is Bitcoin mining faster in the early days ?

[Mayorla]

Of course, you're right. When there's a new invention, most people will not believe in it. And you can't blame them because sometimes I also find it hard to join and take serious a union matter.

Yes, That is true.
I think it is normal for humans to find it hard to trust a new invention and even going as far as investing their money into it. But I think life is all about risk, And To be successful you need to take risks.

 

[Yohanna]

I want to agree that Bitcoin mining is going to be faster in the early days because there is lesser competition in the network and there are lesser miners as well.

 

[Syldan]

Actually at the earliest stage when bitcoin was not known to people and no one knows how potentials it will be in the cryptocurrency market, the mining was very much faster compared to when alot of people join the platform.

 

[Yohanna]

Actually at the earliest stage when bitcoin was not known to people and no one knows how potentials it will be in the cryptocurrency market, the mining was very much faster compared to when alot of people join the platform.

Additionally, because there are so many people that are not aware of Bitcoin emergence, the network would experience less competition and bitcoin would probably mine faster in that situation.

 

[eenya00]

Miners earned better during the early days of Bitcoin. That's because mining rewards per block were higher. Every halving event reduces the mining reward, so these days mining is difficult

Mining is very difficult and more expensive to carry out these days, and to make matters worse, it is less rewarding than it was ten years ago. I don't advice people to go into Bitcoin mining because it is not worth your time.

 

[Yohanna]

Mining is very difficult and more expensive to carry out these days, and to make matters worse, it is less rewarding than it was ten years ago. I don't advice people to go into Bitcoin mining because it is not worth your time.

It is true! The Bitcoin mining is becoming more expensive nowadays . Practically, it will cost you a huge amount of money to establish a Bitcoin mining farm.

 

[Wayne]

Bitcoin back in its fledgling days i.e. its first public trade day mining it only reqierd a CPU but as soon as it became popular manufacturers built specialized machines called asics to mine bitcoin witch intern made CPU mining redundant shore you can still mine with a CPU or a usb miner just don't expect to hit any blocks with CPU or usb sticks with them best join a pool Not a solo pool any who mine with CPU or sticks in regard to bitcoin the early days are gone and you need to join the big boys and girls and get your self an asic miner that or simply buy small bits of bitcoin called Satoshi(sat) witch is the smaller bit of bitcoin

1 BTC = 100,000,000 SAT

 

[ghxstvecna]

Yes, Bitcoin mining was faster in the early days of the cryptocurrency. This is because when Bitcoin was first created in 2009, the difficulty level of mining was very low, and there were very few people mining it. In fact, Bitcoin mining was quicker in its early stages. In the beginning, using common CPUs found in typical home computers, anyone with a computer could readily mine at home.

 

[GoldenLady]

People were receiving more rewards for mining when Bitcoin was new, and the network was also not as congested as it is now, hence it was easier to use even your computer to mine.

Now, mining is only done with sophisticated devices if you want to get anything decent from it.

 

[Mostee501]

Yes, Bitcoin mining was generally faster in the early days of the cryptocurrency. The mining difficulty was significantly lower, and the network had fewer participants. This resulted in faster block generation times and easier mining conditions.

 

[Heatman]

I didn't have an opportunity to mine Bitcoin in the early days and that was when bitcoin was first initiated . There are so many people who claimed that at that time mining bitcoin was quite easy and they could mine 1BTC in a day.

Personally, I have tried mining a couple of time when I was introduced to cryptocurrency some years ago but after a very long time that I invested in the project, I was not able to get anything meaningful out from it. As a result of that I've given up on mining, so I don't know how it is fairing today.

 

[James]

Indeed, Bitcoin mining was considerably faster during the early days of the cryptocurrency. In 2009, when Bitcoin was introduced, the mining difficulty was substantially lower, and the number of miners involved was minimal. Consequently, the process of mining Bitcoin was relatively simple, allowing miners to earn substantial amounts of Bitcoin with relatively minimal effort.

 

[Heatman]

Indeed, Bitcoin mining was considerably faster during the early days of the cryptocurrency. In 2009, when Bitcoin was introduced, the mining difficulty was substantially lower, and the number of miners involved was minimal. Consequently, the process of mining Bitcoin was relatively simple, allowing miners to earn substantial amounts of Bitcoin with relatively minimal effort.

Unfortunately for me, I didn't even take the whole cryptocurrency thing serious when it was introduced to me years ago when Bitcoin was still very cheap, I think it was around $13 per BTC in August 2011. I still blame myself for not taking the advantage of the opportunity.

 

[Riberet19]

It's not your fault, we all would have acted naively, who would have thought that Bitcoin was going to go so far in terms of price and adoption, whoever says that if he had predicted it, surely he is lying, and if not, he probably had inside information, but if I had seen BTC at $13 I might not have bought either, in fact, the first time I saw the price of Bitcoin it was around $600 and I did not buy either.

 

[Heatman]

It's not your fault, we all would have acted naively, who would have thought that Bitcoin was going to go so far in terms of price and adoption, whoever says that if he had predicted it, surely he is lying, and if not, he probably had inside information, but if I had seen BTC at $13 I might not have bought either, in fact, the first time I saw the price of Bitcoin it was around $600 and I did not buy either.

Mehn, that saying my people suffer because of lack of knowledge was really true with what happened to me and not taking Bitcoin investment opportunity. I wish it's possible to turn back the hand of time. I know that it's not only me who had this same experience. If we had taken that opportunity, I'm not sure any of us would be interested in trying to mine any cryptocurrency.

 

[Riberet19]

Mehn, that saying my people suffer because of lack of knowledge was really true with what happened to me and not taking Bitcoin investment opportunity. I wish it's possible to turn back the hand of time. I know that it's not only me who had this same experience. If we had taken that opportunity, I'm not sure any of us would be interested in trying to mine any cryptocurrency.

Well, as people says in the market, do not regret a past opportunity, because there will always be more, it is true that Bitcoin has been the best investment of an entire decade, or of the 21st century, but more equally good investments will come, you have to be attentive, on the other hand, I believe that Bitcoin will continue to grow in the future and I am positioned in it, so there is no regret, mining cryptocurrencies is fine, but today you need too much money to buy the machinery, it is more profitable to invest directly in the currencies.

 

[Billy]

Mining Bitcoin in its early days was indeed easier due to lower mining difficulty and less competition. Some individuals were able to mine substantial amounts, like 1 BTC or more, in a day. However, as Bitcoin gained popularity, mining became more challenging, requiring specialized hardware and significant computational power. Despite these changes, Bitcoin remains a popular cryptocurrency and investment option.