How profitable is mining bitcoin?Why are so many people digging for Bitcoin?- the IXX exchange
Bitcoin stands at 85,000 for the second time in a year, and the market is likely to move higher.
The lucrative business of mining bitcoin is once again attracting hundreds of thousands of investors hoping to get their hands on the currency cheaply and take advantage of its rising value.
Currently, there are different opinions on whether Bitcoin is suitable for investment. Dragan Boscovic, a computer science research professor at Arizona State University (ASU) and head of the blockchain research laboratory, believes that Bitcoin is seen as a "valuable investment opportunity" by investors. Regarding the past, present and future of Bitcoin as an investment asset, Professor Boscovic believes that the industry now offers opportunities for trading new assets and broadens investors' choices. "The fragility of a digital currency is based on demand," says Professor Boscovic. "It is not affected by additional supply. Governments can steer economies by influencing borrowing by introducing new traditional money supplies. But others think that digital money is virtual money, which will affect the normal money market.
So make money from bitcoin?
As the producer of Bitcoin, miners occupy a very important position in the bitcoin ecological chain. Mining machine is the "printing machine" of the digital currency market, producing bitcoin continuously.
Bitcoin mining has experienced four stages from ordinary computer, graphics card, large-scale integrated circuit to professional ASIC mining machine. It has been a lucrative industry for decades.
With the halving of the third bitcoin block award, bitcoin production should stabilize over the next four years, allowing miners to enjoy another four years of high returns. Based on the price of bitcoin and current computing power, the recovery cycle for miners is about 10 months or so. Generally a mine can dig for three years, if from the static rate of return, that is more than 300%, seconds to kill other industries.
Miners' earnings are affected by two things. The first is the price of bitcoin. The second is the whole network computing power. The price of Bitcoin is clearly on the rise. According to the historical trend, bitcoin has just experienced the "block reward halved", the latter half of the year is expected to emerge from a bull market, the price in the rising period.
In terms of the whole network computing power, the whole network computing power is in a moderate rise, the difficulty of mining increased, on the one hand, indicating that miners continue to increase their input;
On the other hand, bitcoin is becoming harder to mine. Because of this, more and more people choose IXX trading platform to invest in Bitcoin. With the formal platform as the most middleman, the probability of investors being cheated will be reduced to the lowest! -- The world's first digital asset trading community, IXX Exchange supports Bitcoin, Cardano, OMG, Bitcoin Cash, Ethereum, Binance Coin and hundreds of other cryptocurrencies to meet the needs of all users.