Getting BTC is much harder every day

BTC is getting harder to get!

In the last month alone, BTC’s profitability has increased by approximately 30%. There are several reasons. The main reason is the limited number of cryptocurrencies in the network and the high complexity of mining. The number of miners and the performance in the network are still growing. Currently it is about 120 Th / s. The record was even almost 200 Th / s. As network performance increases, it becomes much more difficult to get to cryptocurrencies.

The BTC’s profit is also negatively affected halving. This causes a sudden change in profit for miners of 50%. This means that if halving took place today, while yesterday you could extract up to 1 BTC with the same power, today it can be only about 0.5 BTC. This event is taking place every 4 years and will repeat on the BTC indefinitely until most of the Bitcoins are extracted. Then the miners will only earn on fees. These may increase, but certainly not to the extent that they permanently cover the costs of mining. In the future, mining can be expected to dominate a fraction of companies over time, and it will be virtually impossible for the average person to get to cryptocurrencies through mining.

How about buying BTC on the stock exchange?

That’s a much better idea! Although the price of BTC is likely to continue to rise as well as demand, we will most likely be able to buy Bitcoin even after the expression of corporate control of mining. However, it must be said that the maximum amount of BTC will be only 21 million units. So if all coin holders become so-called businessmen who do not want to sell, you will not be able to buy BTC so easily.

Will there always be enough coins?

Of course, it is practically impossible for something like this to happen. It should be noted, however, that the BTC will still be the same amount, namely 21 million. But how many coins will actually be in circulation? If the owner loses access to the wallet and can no longer renew it, the coins will exist, but they will not… Do anything with them will be practically impossible, as they will remain locked on the wallet forever. Since 2009, approximately 20% of all coins have ended up in this way. This number can grow to a very high value.

Conclusion

It is very unlikely that cryptocurrencies will simply occur one day, such as oil spills. There is always someone who wants to trade and speculate on the price. However, the negative effects on coin circulation may continue driving the price up. This, in turn, is a very positive factor for the future of the cryptocurrency.

Continue reading for our next article: ETH Deflationary Assets? Burned fees exceed used tokens!