Valentina
Sun Oct 06 2024
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6 answers
1319
How does mining difficulty affect a bitcoin rig?
How does the level of mining difficulty impact the performance and profitability of a Bitcoin mining rig? Does an increase in mining difficulty make it harder for miners to generate new blocks and earn rewards, or does it simply adjust the balance of power between miners? What strategies can miners employ to stay profitable despite rising mining difficulty? Is there a limit to how high mining difficulty can go, and if so, what implications does this have for the future of Bitcoin mining?
SsamziegangStroll
Tue Jul 09 2024
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7 answers
2201
What is bitcoin rig & how does it work?
Could you elaborate on the concept of a Bitcoin mining rig and its operational mechanism? I'm curious to understand the hardware components that constitute a rig, how it interfaces with the Bitcoin network, and the specific process involved in mining Bitcoins. Specifically, I'd like to know if a rig's efficiency is dependent on its hardware specifications and how mining difficulty scales as the network grows. Additionally, I'm interested in the economic incentives that drive individuals and organizations to invest in mining rigs and participate in the mining process.
