Bitcoin difficulty prediction 2016 election

In latethere are lots of popular websites displaying charts of the current Bitcoin difficulty. After looking through many of these, some are displaying the wrong numbers - and even worse, some of them are giving predictions for future bitcoin difficulty prediction 2016 election changes that are also very wrong.

When searching for things like 'Bitcoin Difficulty', BitcoinWisdom is normally very near the top. The data on this website seems to be outdated. Currently under Difficulty History the latest value is from 6th December We're writing this on the 23rd, so this should really be displayed. The difficulty is Perhaps a more severe issue is with their Bitcoin difficulty prediction. The estimated next difficulty is currently stated at If someone were looking at this right now, not only would the current value be wrong - but they'd expect a difficulty decrease rather than the increase that actually happened.

An example of the impact this can have is CryptoNick. He posted a video on December 19th, currently with 51k views, where he based a statement on BitcoinWisdom's prediction: In short, due to this issue - arguably through no fault of their own - the data many popular YouTubers are using for things like difficulty is wrong, and so many people invest money based on this and end up getting a lower return than they expected.

In this case expecting a difficulty There's a related, less severe, issue bitcoin difficulty prediction 2016 election the website www. But when clicking through to see the chart for difficulty history, in certain scenarios the chart displays a different number for the current difficulty than their homepage. This has since been corrected. Whether this was a bug, or bitcoin difficulty prediction 2016 election it normally takes a few days for these numbers to update on their charts - if someone were just using the chart for their calculations, they would again get the wrong difficulty value.

In the future, we plan bitcoin difficulty prediction 2016 election add charts for Bitcoin's difficulty on our own website, www. For now though BTC. In terms of bitcoin difficulty prediction 2016 election using the correct values; our own mining calculator currently has the correct difficulty, and alternatively the CoinWarz Bitcoin mining calculator also seems to be accurate.

There are various reasons bitcoin difficulty prediction 2016 election this, but the two mains ones are the mechanics for generating data and reliance on APIs. When generating data for pages displaying Bitcoin difficulty, generally the server that website is on would calculate this data on a timer.

Often this might be done every few minutes to keep data up-to-date, but more likely developers try to only run this kind of calculation when they have to - to minimise the load on the server. Since Bitcoin's difficulty generally changes every 2 weeks, it's possible some of these websites might generate new data for these charts once every 2 weeks, or perhaps once a day.

In either case, this would cause a lag between the actual difficulty value and the value shown on charts. In scenarios where lots of new people mine Bitcoin, a difficulty change could occur after 11 or 12 days rather than 14 as it changes every blocks rather than exactly every 14 days - so the value could be wrong for as many as bitcoin difficulty prediction 2016 election days.

A related reason is API reliance. CoinWarz for example provides a lot of their data via an API. In principle this is good, as it allows new cryptocurrency websites to be developed more quickly; but it does mean if the API you're using gives you wrong data, your site will be displaying this incorrect data.

On top of the two issues above, it's possible a website might just make a mistake when getting Bitcoin's difficulty, so it's always a good idea to report things like this to the website's owner. They bitcoin difficulty prediction 2016 election not even be aware of the issue! This site cannot substitute for bitcoin difficulty prediction 2016 election investment or financial advice, or independent factual verification. This guide is provided for general informational purposes only. The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors.

Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose - you should be prepared to sustain a total loss of all invested money. This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it.

We don't endorse any affiliate services we use - and will not be liable for any damage, expense or bitcoin difficulty prediction 2016 election loss you may suffer from using any of these. Don't rush into anything, do your own research. As we write new content, we will update this disclaimer to encompass it. We first discovered Bitcoin in lateand wanted to get everyone around us involved. But no one seemed to know what it was! We made this website to try and fix this, to get everyone up-to-speed!

Click here for more information on these. All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice.

Bitcoin Difficulty Prediction Mistakes in Dec 23rd, Updated Feb 1st, Mining In latethere are lots of popular websites displaying charts of the current Bitcoin difficulty. In this guide we go through which websites have accurate numbers for difficulty and which don't.

Are there any accurate Bitcoin difficulty charts? Why do websites get difficulty wrong? May 5th, What is the Antminer Z9 Mini? Written by the Anything Crypto team We first discovered Bitcoin in lateand wanted to get everyone around us involved. Never invest money you can't afford to lose.

There are lots of videos and articles on what Bitcoin difficulty is, and lots of charts on how it has changed over the past couple of years. But this isn't really helpful if you're thinking about investing in cloud mining, or maybe even buying your own mining rig.

We focus on key factors that may affect Bitcoin's difficulty in this guide. If you're looking for how profitable ASIC miners are insee this guide. So let's start by looking at how Bitcoin difficulty has changed every 4 months for the past 3 years:. Sep - As of 19th Decembermany difficulty charts, including the one above, seem to be displaying outdated data.

We've posted a video explaining the cause of this here. Looking at the Blockchain chart above for the past bitcoin difficulty prediction 2016 election years, it definitely looks exponential; e. But the figures for the past 3 years don't do that, they vary significantly. In it took around 11 months for the difficulty to double, in early around 6 months, in late around 8 months and then in between months.

Rather than doubling at a consistent interval, it seems to vary based on factors like available hardware and public interest. What we're suggesting is that the rate Bitcoin difficulty is increasing is not fixed, and can be anticipated.

Right now, in DecemberBitcoin is very popular, with thousands of new investors and miners every day - so significant difficulty increases are to be expected. Many new people are interested in bitcoin mining, allowing hardware manufacturers to sell miners in larger quantities, causing more total hashpower to be available - driving Bitcoin difficulty up.

The key relationship here is that the amount of new hardware bitcoin difficulty prediction 2016 election available is strongly linked to the demand for it. A risk is that if the people making these miners produce too many, the difficulty will rise so fast that Bitcoin mining profitability goes down massively. This occurred for Dash when the Antminer D3 came out.

There are also scenarios that can cause Bitcoin's difficulty to decrease. August is a good example of this, where a lot of miners moved their hashpower to mine Bitcoin Cash as it was more profitable at the time. This decreased hashpower mining Bitcoin, causing Bitcoin's difficulty to decrease for 2 weeks. If you stay up-to-date with these types of scenarios and mine the more profitable coins Bitcoin Cash in this scenarioyou can get extra coins for 2 weeks and sell them immediately for a great return on investment or just HODL them!

Another argument suggesting Bitcoin mining will remain profitable long-term is to look at it from the perspective of large mining operations. If you were a bitcoin difficulty prediction 2016 election running a large setup, and Bitcoin mining was to no longer be profitable, then you'd likely start mining something else that was.

If there were no profitable coins for a long period of time, you'd likely have very bitcoin difficulty prediction 2016 election operating costs and be forced to shut down your operation eventually. For a smaller miner running just a few Bitcoin difficulty prediction 2016 election or some cloud mining, this would be less of an issue. So in theory as long as Bitcoin stays popular and its price continues to increase, if you can get cheap electricity Bitcoin mining should always stay profitable.

This last argument in particular is very speculative, so be aware that for a worst-case scenario if Bitcoin's price was to fall for a long-period of time, even if you had cheap electricity, there's a risk that mining it would bitcoin difficulty prediction 2016 election longer be profitable. In Junethe reward for Bitcoin mining will half. This could cause big issues in the long-term as it essentially makes it half as profitable overnight.

So if miners are only making a small profit prior to this, they'll then be running at a loss just after it. At this point open-ended contracts on sites like Genesis Mining will likely no longer be profitable although they might not even last that long.

This site cannot substitute for professional investment or financial advice, or independent factual verification. This guide bitcoin difficulty prediction 2016 election provided for general informational purposes only.

The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose - you should be prepared to sustain a total loss of all invested money. This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it. We don't endorse any affiliate services we use - and will not be liable for any damage, expense or other loss you may suffer from using any of these.

Don't rush into anything, do your own research. As we write new content, we will update this disclaimer to encompass it. We first discovered Bitcoin in lateand wanted to get everyone around us involved.

But no one seemed to know what it was! We made this website to try and fix this, to get everyone up-to-speed! Click here for more information on these. All information on this website is for bitcoin difficulty prediction 2016 election informational purposes only, it is not intended to provide legal or financial advice. Expected Bitcoin Difficulty in Sep 19th, Updated Jan 26th, Mining There are lots of videos and articles on what Bitcoin difficulty is, and lots of charts on how it has changed over the past couple of years.

This guide has our thoughts on what will affect Bitcoin difficulty over So let's start by looking at how Bitcoin difficulty has changed every 4 months for the past 3 years: Rate of Bitcoin difficulty increase Looking bitcoin difficulty prediction 2016 election the Blockchain chart above bitcoin difficulty prediction 2016 election the past 2 years, it definitely looks exponential; e.

May 5th, What is the Antminer Z9 Mini? Written by the Anything Crypto team We first discovered Bitcoin in lateand bitcoin difficulty prediction 2016 election to get everyone around us involved. Never invest money you bitcoin difficulty prediction 2016 election afford to lose.