What does it mean to recalculate the complexity of mining in simple words and is it scary if this indicator increases?

What does it mean to recalculate the complexity of mining in simple words and is it scary if this indicator increases?

By Lazy Bear | Crypto and world | 7 Apr 2023


Quite often recently we hear the news that there has been another recalculation of bitcoin mining and the indicator has increased. Without knowing the subtleties, some users perceive this news in a negative way. But let's figure out what's going on in simple words.


So, Recalculating the complexity of bitcoin mining is when computers find new bitcoin blocks and check them. The more computers mine bitcoins, the harder it becomes to find them. If a lot of computers are working on finding bitcoin blocks, then the complexity of mining increases.

 

Although for a bitcoin holder, the increase in mining complexity may not seem like such good news, in fact, this situation indicates that more and more people are interested in bitcoin and want to mine it. More people are mining bitcoins, more it is being used and is becoming more popular.

 

So, if the complexity of bitcoin mining increases, then it's even good, because it means that bitcoin is becoming even more popular and profitable for miners. However, if you want to start mining bitcoin yourself, then you need to be prepared for the fact that it will be more difficult to find new blocks.

 

This news may be negative only for the miner, but not for the holder or trader.

I hope now the meaning of this news has become much clearer to you.

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Lazy Bear
Lazy Bear

Crypto trader. Love crypto


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