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How Long Will It Take For a Home Computer to Dig Up a Bitcoin?

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In theory, any computer can become a “mining machine” after installing the corresponding software, which means that anyone who owns a computer is also a potential miner.

Many people may think it is easy to mine Bitcoin. They only need to download a software and run it on the computer, just like running stock trading software. Here we can only say that everyone is whimsical.

In fact, according to the current Bitcoin mining difficulty, ordinary home computers are simply unable to bear it. Bitcoin mining is actually an operation. This specific algorithm is a mathematical problem based on crypto graphic hash algorithm. To solve this mathematical problem, you need this computer for mining to have strong data processing capabilities.

A few years ago, when the difficulty of Bitcoin mining was relatively low, home computers might still be used. At the beginning, many people did Bitcoin with home computers.

However, as the Bitcoin mining becomes more and more difficult, it consumes more and more capacity, especially in the recent period, a large number of people have joined the mining, and the speed of mining is relatively fast, which further increases the difficulty of mining.

On average, Bitcoin produces about one new block every ten minutes. Each new block is accompanied by a certain number of new Bitcoin from scratch. For every 210,000 blocks are mined, it takes about four years, and the rate of currency issuance is reduced by 50%.

However, the balance of generating a new blcok every 10 minutes has not been reached. The mining difficulty increases or decreases after every 2016 blcok or about every 14 days. Whether the specific difficulty increases or decreases mainly depends on the speed of 2016 blcok before discovery.

If blcok discovery time in 2016 is less than 14 days, the difficulty will increase, while if the discovery time exceeds 14 days, the difficulty will decrease. The goal is to restore the average blcok discovery time to 10 minutes.

According to the number of people who participated in the mining in the recent period, in fact, it is found that the speed of 2016 blcok may be less than 14 days, which means that the more difficult it is to mining back.

Faced with this kind of super difficulty, not to mention home computers, even some professional mining machines may not be able to achieve profitability. Let’s take a Shenma mining machine as an example. Its hashrate is 58TH/S, power is 3,240W, power consumption is 23.33 yuan per day, the selling price is 83,000 yuan, and the daily income is 0.0003402BTC, which means it takes 2939 days to dig a Bitcoin.

In addition, according to the current Bitcoin price calculation, taking into account the mining rig price and power consumption, it takes 79 days to return the capital. After returning the capital, you can earn about 8300 yuan in the next 79 days, with an average of about 105 yuan per day. And this is based on the Bitcoin price is located at a high price of 47,000 dollars, if the future Bitcoin suddenly plummeted to 10,000 dollars, the corresponding machine can make only about 22 yuan a day.

The hardware cost and personnel cost have not been deducted. If other costs are also taken into account, a single mining rig can make less money. Therefore, even professional mining mining rig may not be able to guarantee their profitability.

This is true for professional mining computers, not to mention for home computers. At present, the operating hashrate of home computers is very low. Even if a home computer is top-equipped, its hashrate is 10000 H/s per second (where 1 H/s is equal to a hash collision per second, and “mining” is to make the first N-bit value of the hash 0).

According to the hashrate of home computer, it takes at least hundreds of years to dig up a Bitcoin. During this period, the power consumed by the computer far exceeds the value that Bitcoin can create. Therefore, it is not realistic to rely on home computer to dig up Bitcoin and make a fortune.

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