Is bitcoin mining profitable anymore vs any more

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Ewelina Cudzich, 13, checks her phone in her Chicago home, Friday, June 8, 2018. In this June 21, 2018 photo, Joyce Risher, of Bremerton, Wash. Why Can’t I Mine Bitcoin With My PC Anymore? There was a time when anyone with a graphics card–or even just a CPU–could mine some Bitcoin and turn a profit.

But why did Bitcoin go from being an easy money maker to something few can afford to mine? The answer lies with one of Bitcoin’s basic principles, which makes the cryptocurrency harder to mine as it grows in popularity. That way, having a bunch of people mine Bitcoin won’t undermine its value. It’s almost like circulating a limited number of U.

Not that you have to print Bitcoin, of course. How Bitcoin Is Mined Bitcoin, like seemingly every other technology these days, is based on the blockchain. In Bitcoin’s case, these blocks are used as transaction ledgers that make sure every exchange of the cryptocurrency is legitimate. Instead of trusting a central figure, like you do with traditional currencies, you’re trusting the math behind Bitcoin to ensure everything is on the up-and-up. Doing all that math requires some computational resources.