accumulation of blocks

Ed asked 2 months ago

My understanding after watching the videos is that every transaction is grouped in a block and added to the chain after verification.  As the chain grows over time, wouldn’t a miner require ever more powerful super computers for mining?  Wouldn’t the system reach a choke point where mining becomes impossible?  This is an enormously confusing system for an average person like me and I can see that the complexity of it will  be its limitation in the future for average people.  It will end up institutionalized where the institutions will “take care of us”.  Just more big bro imo.  I’m probably wrong about this analysis.  Please correct me.

1 Answers
Zsofia Elek answered 2 months ago

Hi Ed,
It is called mining difficulty and because of it, it is more difficult to mine new coins after a certain amount of blocks mined. Here you can read more about Bitcoin mining including the computers needed to make mining profitable. 

Your Answer
3 + 7 =