Factor the gcf
2x^2(16x^4-1)
The inner binomial is a perfect square so factor it
2x^2(4x^2+1)(4x^2-1)
The last binomial is still a perfect square so factor again
2x^2(4x^2+1)(2x+1)(2x-1)
No binomial can be further factored
Final answer: 2x^2(4x^2+1)(2x+1)(2x-1)