Bitcoin's new anti-inflation code means twice the work, same profits

Bitcoin mining just got harder, with the new anti-inflation code making it longer to mine Bitcoins.

@anthony256
Published Sun, Jul 10 2016 7:28 AM CDT   |   Updated Tue, Nov 3 2020 11:59 AM CST

Bitcoin mining just got harder, with Reuters reporting that the digital currency system now has new anti-inflation code, which makes mining Bitcoins twice as long.

Bitcoin's new anti-inflation code means twice the work, same profits | TweakTown.com

Previously, the reward for Bitcoin mining would be 25 bitcoins ($16,000 or so) being mined every 10 minutes, but that now takes 12.5 minutes. The measure automatically starts every four years in an attempt to stop inflation that many miners are worried about, especially with quicker and quicker computers mining Bitcoins, outpacing desktop PCs.

Dedicated miners are going to be pissed, as they'll need to work twice as hard to get the same money from bitcoins, and then the hardcore/professional bitcoin miners might to rethink their entire business.

NEWS SOURCE:engadget.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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