Will it become harder to mine cryptocurrencies in the future?

[GIFTMICHAEL]

Immediately Cryptocurrency nears its expected mine rate, it wouldn't be possible mining it again, it will become scarce, by then the price will be higher.

 

[Josemendez]

For coins with limited supply , as the number of coins to be mined is reducing , it will be very difficult for the coin to be mined. This is normal with most cryptocurrency that can be mined.

 

[Josephjossy]

To be honest with you I have been trying to understand how to mine cryptocurrency but the more I research about it is the more I get confused. Mini g cryptocurrency is so hard to understand for beginners so you need to have good knowledge of the business

 

[eLdavis]

Yes I believe it would be difficult to mine crypto currency in the future which would make it even more valuable. Currently it is hard already to mine

 

[BrolySSJ]

Yes I believe it would be difficult to mine crypto currency in the future which would make it even more valuable. Currently it is hard already to mine

With each four years there is a halving event that reduces the supply of the coin which does make it harder to mine. However this is a very good thing because it also drives up the price of the coin and helps it to achieve a good level and investors as well.

 

[Dagm1]

The current bull operate in the crypto markets was extremely interesting to view, along with BTC smashing documents in very early January after rising to $41,941.56. Institutional fostering has actually resulted in a beneficial projection in the short-term, however financiers that are actually worried they might be actually purchasing at a hard time, Bitcoin cost forecasts for 2025 can easily show helpful.

 

[Good-Person]

The ease of Mining cryptocurrency has to do with the value,the higher the value,the more difficult it will be.For instance bitcoin was much easy to mine few years ago compared to now and if the price keeps going up,it will be become very difficult to mine.

I do not think that this is necessarily the case. There are many coins that do not have a high value, yet they are still very difficult to mine. For example, steller coin is very hard to mine, despite having a low value.

 

[Lens]

I am marvelled by your narrative about mining. Mining is not easy as you stated. It's energy sapping, time wasting and it's not worth it. The only way to make something tangible from mining is by buying the hashrate. Aside this, you won't make something worthwhile in mining.

 

[Shigobad2020]

Well it actually depends on the kind of crypto currency because coins like monero is still very easy to mine compared to bitcoin and others , but i know the more the price of bitcoin , the more hard mining becomes and that is how it is i think , i just hope mining becomes very easy

I have been hearing about the mining site called monero but i have neverhad the opportunity of checking our the mining site, the facts still remains that as bitcoin keeps increasing, it keeps getting hard to mine.

 

[eLdavis]

With each four years there is a halving event that reduces the supply of the coin which does make it harder to mine. However this is a very good thing because it also drives up the price of the coin and helps it to achieve a good level and investors as well.

True the harder it becomes to get, the higher the value as people would be willing to pay any amount just to get their hands on it. I believe it is a business strategy on their part as well.

 

[Aaron625]

Yeah mining crypto is very hard right now , thats why people are shifting their focus from mining to trading and trading crypto is more profitable as well compared to hardware mining.

 

[BrolySSJ]

True the harder it becomes to get, the higher the value as people would be willing to pay any amount just to get their hands on it. I believe it is a business strategy on their part as well.

It definitely is a strategy on their side and it is what is driving the cryptocurrency community to increase in price so substantially however I think that it is severely hindering some coins that do not have this feature such as dogecoin.

 

[Chibson]

Of course, it will be harder to mine cryptocurrency in the future. If you followed the trend there was a time mining bitcoin was so easy but today it's very hard.

 

[BrolySSJ]

Of course, it will be harder to mine cryptocurrency in the future. If you followed the trend there was a time mining bitcoin was so easy but today it's very hard.

The difficulty of cryptocurrency mining is increased every four years in something that is referred to as a halving event and with this what happens is that the reward per block mined is lowered.

 

[HayKay]

I'll say yes it'll become harder because the valuable ones are being bought up quickly and these newer ones tend to die out as soon as possible.
Moreover as earlier stated, the halving rule is also a big factor to mining currencies later

 

[Ceeny007]

I don't think getting to use crypto will be complicated,in the future I forsee it being easy to use like turning the door knob, crypto is here to stay

 

[BrolySSJ]

I don't think getting to use crypto will be complicated,in the future I forsee it being easy to use like turning the door knob, crypto is here to stay

I agree with you and there are many phones now that are coming out with a crypto hardware wallet that is already built into it showing that many companies are predicting this as well.

 

[Elfinito]

In the future crypto mining would be very expensive because they would be limited coins.
Bitcoin has only 21 million supply so certainly in the next 10 years maybe all the coins might have been mined

 

[Eleshtee]

As people join crypto currency it will start getting hard to mine Bitcoin because the value will start to decrease

 

[BrolySSJ]

As people join crypto currency it will start getting hard to mine Bitcoin because the value will start to decrease

The value will actually see a rise as people get involved in cryptocurrency and bitcoin. I think what you are referring to here is actually the supply of bitcoin that is available for the mining process.