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🪙 How You Can Mine 1 Bitcoin in 2024? The term "mining" is used because, like natural resources, there is a finite amount of Bitcoins available. Only 21 million Bitcoins can ever be generated. Over 19 million have already been mined. As more miners join the network, mining difficulty increases. In 2009, you could mine 200 Bitcoins with a personal computer. Today, with a regular 2024 computer, it would take 91,324 years to mine 1 Bitcoin 😱. This led to the creation of ASIC miners—super powerful computers for mining Bitcoins. Today, you need approx 9090 ASIC miners and about 10 minutes to mine one Bitcoin block, but it would take months to mine a full Bitcoin alone. ❓But can I mine 1 Bitcoin alone? It is highly inefficient because the Bitcoin network's difficulty is so high that even powerful ASIC miners have a very small chance of mining a block on their own. In a mining pool, miners combine their computational power, increasing their chances of earning a portion of the block reward more regularly. This way, they receive smaller, more frequent payouts instead of waiting for a long time to potentially mine a whole block by themselves. Next post spoiler in comments👇🏼
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🇺🇸 U.S. Now Has: ➡️Record $17.8 trillion in household debt ➡️Record $12.5 trillion in mortgages ➡️Record $1.6 trillion in auto loans ➡️Near record $1.6 trillion in student loans ➡️Record $1.1 trillion in credit card debt
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The results of the latest crypto market sell-off: 🔽 Weak hands sold. ⚰️ More than $1.2 billion in leveraged longs were wiped out. 🔼 Long-term holders accumulated more than $11 billion in BTC.
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💸BTC will surpass $100,000 if Trump wins the election This opinion was expressed by Michael Terpin, founder of Transform Ventures. 🗣️According to him, with the Bank of Japan signaling that it does not plan to raise interest rates and with Jump Trading running out of coins to sell, there are no more reasons for the price to fall below $50,000. ➡️If Trump wins, an influx of new buyers could push the price of BTC above $100,000. Moreover, October and November are historically strong months for BTC, especially in a halving year and the year following it.
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