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Why Bitcoin is so hard to get?


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Did you ever ask yourself or one of your friend, why Bitcoin is so hard to get? If yes, we have the same question. I really don't know how it actually happen and how it instantly boom in our industry? I want to know where they get bitcoins and what makes Bitcoin value so high? Although Bitcoins are volatile; no permanent value. Why there are so many people interested with this? Cheers!

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It's hard to find them because their price is high. Because there may be fewer them, as many people have been involved in mining. It's especially difficult to find free Bitcoin. And it's not boom, Bitcoin has been here for a long time, and at that time his price has gone so far to heaven.

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Years back when bitcoin was introduced to the world, not everybody had the confidence to take it seriously and invest in it. It's only the courageous few that did so back then are reaping the benefits of having bitcoin investment. 

Now bitcoin costs a fortune to acquire, so I believe it's the reason why it's very hard for people to get it. There are mining sites where performing some tasks would give you some bitcoin but it takes so long to get any meaningful bitcoin in it. 

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Bitcoins are very hard now to obtain mainly because of its price and how it increased in value over time. In terms of how it's made, well, bitcoins or any online currency are not printed or produced, rather it needs to be "mined." Like in the real world, mining resources have a limit, which means that we will eventually run out of the coins. In this case, miners are people on computers which uses it to calculate complex mathematical problems to generate new coins. However, because of the limited resources, as more and more are mined, the longer it takes to obtain a single coin. Before, a regular CPU can do the job, but now it usually requires supercomputers or a group of them to get the job done. 

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On 5/11/2018 at 7:54 PM, Lost93 said:

It's hard to find them because their price is high. Because there may be fewer them, as many people have been involved in mining. It's especially difficult to find free Bitcoin. And it's not boom, Bitcoin has been here for a long time, and at that time his price has gone so far to heaven.

It's absolutely true what you just mentioned about the high price of bitcoin being one good reason why the cryptocurrency is so hard to get. 

And it's as a result of the few quantities of the cryptocurrency that would produced over a period of time that makes its price skyrocket. 

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It's based on a math thing so that it won't become too easy to mine.  I mean, if it was too easy to mine, it wouldn't be worth much!  Anyway, despite the setbacks, it possible to learn to mine.  It just depends on your will-power I suppose.

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As time passes, it will get harder to mine. The calculation gets tougher and will need more powerful GPUs. This is why miners use the latest and most powerful GPUs. Low-powered GPUs won't mine anything significant and will only give you cents at most and aren't worth it. So if you are planning to take crypto mining seriously, you will have to invest in a proper mining rig.

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10 hours ago, Jasonn said:

It's based on a math thing so that it won't become too easy to mine.  I mean, if it was too easy to mine, it wouldn't be worth much!  Anyway, despite the setbacks, it possible to learn to mine.  It just depends on your will-power I suppose.

Yes, I believe that one's will-power would have a direct impact on one's success in being successful at mining cryptocurrency-bitcoin. 

Most of the faucets sites which I tried to mine bitcoin takes ages to reach payout threshold, so I had to give up on them. 

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22 hours ago, Martinsx said:

It's absolutely true what you just mentioned about the high price of bitcoin being one good reason why the cryptocurrency is so hard to get. 

And it's as a result of the few quantities of the cryptocurrency that would produced over a period of time that makes its price skyrocket. 

Thanks for your reply. Of course, it's true. But how long it will last, no one knows.

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19 hours ago, Lost93 said:

Thanks for your reply. Of course, it's true. But how long it will last, no one knows.

That's a very good question and I believe no one knows actually what it would be which is why people are making efforts to acquire these cryptocurrency - bitcoin and any other ones as much as they could lay their hands on, so that they can cash in the opportunity to making huge profits off it when they start trading at the time Bitcoin scarcity kicks in. 

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5 hours ago, Kakashi2020 said:

The way I understand it is that there are only 21 million Bitcoins and 16.8 million have been mined already, there's only 4.2 million left to be mined that's about 20 percent left.  So what happens if all were mined already? 

Maybe Bitcoin would be valued more because there would be less supply and more demand? We don't know for sure. It could also go the other way and no one wants Bitcoin anymore. Nobody really knows.

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On 5/12/2018 at 7:47 AM, Martinsx said:

Years back when bitcoin was introduced to the world, not everybody had the confidence to take it seriously and invest in it. It's only the courageous few that did so back then are reaping the benefits of having bitcoin investment. 

Now bitcoin costs a fortune to acquire, so I believe it's the reason why it's very hard for people to get it. There are mining sites where performing some tasks would give you some bitcoin but it takes so long to get any meaningful bitcoin in it. 

I also wonder about the lucky few to invest in it. They made the right choice. In a way, I remember hearing news about bitcoin in its early days. Some people were interested but made no show of it outside speculation. They didn't decide to put money on it.

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10 hours ago, Steve5 said:

I also wonder about the lucky few to invest in it. They made the right choice. In a way, I remember hearing news about bitcoin in its early days. Some people were interested but made no show of it outside speculation. They didn't decide to put money on it.

Exactly, a good number of people actually had the information about Bitcoin when it was introduced to the world in 2009 but none had much belief in the digital currency. Some people actually saw it as a scam program designed to duped people but it turned out that they were all wrong because the Cryptocurrency have been a revolution of the best investment opportunity in the world today. 

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On 5/17/2018 at 5:46 PM, EfficientNinja said:

Maybe Bitcoin would be valued more because there would be less supply and more demand? We don't know for sure. It could also go the other way and no one wants Bitcoin anymore. Nobody really knows.

Well that would be great if it's value went up but the network relies on the servers of miners to exist right? So what happens if the servers stopped mining because there's nothing to mine anymore? Would you still mine if you knew that you wouldn't receive any btc as payment? 

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13 hours ago, Martinsx said:

Exactly, a good number of people actually had the information about Bitcoin when it was introduced to the world in 2009 but none had much belief in the digital currency. Some people actually saw it as a scam program designed to duped people but it turned out that they were all wrong because the Cryptocurrency have been a revolution of the best investment opportunity in the world today. 

This is why we shouldn't doubt things entirely. While it's always good to be careful, we should also consider if what they're saying is true. There are actually things worth investing on. It's just such a shame that none of us was wise enough to invest in it. We would be so rich now if we just put like $100.

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1 hour ago, Steve5 said:

This is why we shouldn't doubt things entirely. While it's always good to be careful, we should also consider if what they're saying is true. There are actually things worth investing on. It's just such a shame that none of us was wise enough to invest in it. We would be so rich now if we just put like $100.

I think it wouldn't be nice to blame some people for being careful not investing into something that is still new and they have no clue as to how the investment would pan out. 

It's just those who are high risk takers that made investments in Bitcoin then in 2009 when it was introduced. Not everyone has that kind of mind to take such risks. 

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I'm not blaming anyone. 😂

What I meant is that being more open-minded to possible opportunities has its rewards. I think many people with more than enough funds also didn't think much of it back then. And it's funny that risk takers have the most to lose yet also the most to gain. This is one of the situations where they gained a lot. 😄

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Bitcoin is getting harder to mine because it's supply is dwindling, it's the law of supply and demmand, less supply and more demmand means higher prices and that's what's happening nowadays.  As the number of available Bitcoins to be mined goes down then the price would naturally go up because the demmand would be greater and this was incorporated into its program, that's why it's so hard to mine.

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On 5/14/2018 at 3:24 AM, Jasonn said:

It's based on a math thing so that it won't become too easy to mine.  I mean, if it was too easy to mine, it wouldn't be worth much!  Anyway, despite the setbacks, it possible to learn to mine.  It just depends on your will-power I suppose.

That is the thing in the sense that mining of Bitcoin is always not an easy task and that is the reason it is always difficult to gain a substantial amount of it in the cryptocurrencies market. However, I believe that it is as a result of the saturated market that is making Bitcoin appreciate the more.

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On 5/20/2018 at 6:12 PM, Kakashi2020 said:

Bitcoin is getting harder to mine because it's supply is dwindling, it's the law of supply and demmand, less supply and more demmand means higher prices and that's what's happening nowadays.  As the number of available Bitcoins to be mined goes down then the price would naturally go up because the demmand would be greater and this was incorporated into its program, that's why it's so hard to mine.

The demand is truly higher than the ones we see in other coins that are in the market and I don't think it is the fault of anyone that such is the situation at hand when we discuss about Bitcoin simply because it is one of the first and the most popular coins that is in the market at the moment. It has got a better chances of bringing success as well in the future.

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On 5/20/2018 at 6:12 PM, Kakashi2020 said:

Bitcoin is getting harder to mine because it's supply is dwindling, it's the law of supply and demmand, less supply and more demmand means higher prices and that's what's happening nowadays.  As the number of available Bitcoins to be mined goes down then the price would naturally go up because the demmand would be greater and this was incorporated into its program, that's why it's so hard to mine.

I know that first hand because I haven't been successful in all my trail to mine ever since I learnt how to mine cryptocurrency. 

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2 minutes ago, Henrywrites said:

The demand is truly higher than the ones we see in other coins that are in the market and I don't think it is the fault of anyone that such is the situation at hand when we discuss about Bitcoin simply because it is one of the first and the most popular coins that is in the market at the moment. It has got a better chances of bringing success as well in the future.

You are very correct my friend, Bitcoin demand is high especially in countries where it's acceptable and used for business purposes but in places where it's not acceptable, its demand is relatively low. 

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6 minutes ago, Henrywrites said:

That is the thing in the sense that mining of Bitcoin is always not an easy task and that is the reason it is always difficult to gain a substantial amount of it in the cryptocurrencies market. However, I believe that it is as a result of the saturated market that is making Bitcoin appreciate the more.

Bitcoin would always be a hot prospect in the market because the world is always in a digital state where 80% of all we do today is in digital form, even though in some cases where Bitcoin is still under scrutiny, it's likely to still find a way to be used, it's actually why we have cryptocurrency exchange sites. 

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I think mining Bitcoin in homes with mining rigs 5-10 years ago was feasible but nowadays it's not. Miners are coming to terms on this and most new miners just lost interest when they tried mining because instead of profiting they ended up suffering losses.  A single mining rig can cost a lot of money and most did not recoup their investments.

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