why bitcoin mining difficulty is increased?
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
It is being done to stabilize the value of Bitcoin. If it is not placed in the system. Anybody could mine Bitcoins.
Well the mining difficulty is always related to the amount of computing power that the bitcoin has , and as we all know in the recent months bitcoin has gained a huge popularity due to its hyge price increase which meant that it brought with it many people who want to get some profit from it and this created even more computing power than before, and so to ensure that the avrage block solution stays the same the mining difficulty has to be increased, otherwise the supply that we from bitcoin have will get depleted so quickly.