The knock-on effect of Bitcoin’s price increase, to over $200 in the last month, is that more people are making a profit from mining. As a consequence, the mining difficulty has risen by 10.44%. Bitcoin creator, Satoshi Nakamoto, built in a network difficulty update every two weeks, or every 2016 blocks. The last time there were two double digit percentage increases in difficulty was August 19, 2014 and August 31, 2014. This means that, as long as miners keep producing new blocks, they will be able to make money for themselves and their customers.
The knock-on effect of Bitcoin’s price increase, to over $200 in the last month, is that more people are making a profit from mining. As a consequence, the mining difficulty has risen by 10.44%. Bitcoin creator, Satoshi Nakamoto, built in a network difficulty update every two weeks, or every 2016 blocks. This means that, as long as miners keep producing new blocks, they will be able to make money for themselves and their customers.