How are you? By Allah's grace, I'm doing very well. Today, the topic I want to discuss why is bitcoin mining problem.

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Satoshi Nakamoto created cryptocurrency around 2008 to allow people to exchange money from one place to another. But through this method it can be sent very easily without any bank or institute but around 2008 such concept was very complicated. Then Satoshi Nakamoto's head to eat a word, who will complete the transactions of Bitcoin? And how will the supply of Bitcoin in the market? Then Satoshi Nakamoto basically selects miners to complete Bitcoin transactions. The main job of miners is to use the power of their computers to verify all Bitcoin transactions and secure the Bitcoins in their custody

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When Bitcoin was invented Satoshi Nakamoto was mining with his own personal computer. Thousands of Bitcoins could be mined then. The main reason for this is that there weren't that many miners in the Bitcoin network back then, and the 50 Bitcoins released per block were split among a few. This is why Satoshi Nakamoto was able to mine one million Bitcoins in a very short period of time. Then when the discussion about reword of miners started in different blocks, many people started mining bitcoins in their personal computers but not more than 50 bitcoins were released in each block and these 50 bitcoins were divided equally among the miners in the network. And this is exactly why bitcoin mining difficulty starts, the more miners join the bitcoin network the more the mining difficulty increases and the more powerful the bitcoin network becomes.

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Mining is not very profitable nowadays. The reason is that mining difficulty is increasing due to the large amount of mining in large mining farms. But whether mining is profitable or not depends on many factors, such as power consumption and the miner you use, which mining machine you are using and how many kilowatts of electricity it consumes and what is its mining capacity? All these things can be understood on the profit or loss. There are many mining calculation websites online, you can check your calculation from there.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.