Post
Topic
Board Bitcoin Discussion
Re: Russia, China & Apple ban Bitcoins. Gox closing. Is this the end?
by
greenlion
on 07/02/2014, 10:36:57 UTC
And the mining difficulty is going up every hour... making it almost IMPOSSIBLE TO MAKE PROFIT by mining.

Difficulty re-targets every 2016 blocks, not "every hour".

In fact additional hash power added onto the network at a certain difficulty actually increases your revenue per unit time, up until the next retarget, if you're pool mining, because the average number of blocks awarded per unit time increases.