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Since 2011 it is not so easy to mine Bitcoin, according to reports

A new adjustment to Bitcoin Mining Difficulty took place over the weekend. As a result, there was another drop in difficulty, this time of 4.81%. It’s the fourth consecutive drop in BTC mining difficulty, a streak that hasn’t been seen since 2011.

Since 2011 it is not so easy to mine Bitcoin, according to reports

Since 2011 it is not so easy to mine Bitcoin, according to reports

It is now exactly 51 days of consecutive drop in mining difficulty. The biggest period of decline occurred between August and November 2011, when mining difficulty fell eight times in a row.

Difficulty setting is the tool used by the BTC blockchain to control the computational power and mining of blocks. Essentially, tuning makes it harder or easier to find the blocks.

For this, the network takes as a basis the time each block took to be discovered. After this calculation is done, it automatically calibrates the difficulty every 2016 blocks (about two weeks).

Since China began its campaign against miners, the processing power (hash rate) of the BTC has collapsed. The network went from 25 terahashes per second (TH/s) to the current 13 TH/s.

In the meantime of ten years, another negative sequence occurred in 2018. At the time, the hash rate fell three consecutive times between November and December.

Precisely, the current drop in difficulty was 49.21%, a value that, although high, did not surpass the 51.54% drop in 2011. At that time, the difficulty rose from 1.89 million TH/s in August to 1.09 million TH/s in block 155,232. Then the hash rate started to recover.

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