Topic: 40 minute BTC block time - No big deal - page 5. (Read 6113 times)
The more we hash... the longer it's gonna take. Crazy its at 40 minutes though.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
bad luck and new mining difficulty
my understanding is that the difficulty is based off of how many leading zeros are in the hash of the nonce.
The smallest increase in difficulty is adding one additional zero, correct? by what order of magnitude does this increase the difficulty?
https://en.bitcoin.it/wiki/Difficulty
The current target is here:
http://blockexplorer.com/q/hextarget
and it is: 0x0000000000000000415FD1000000000000000000000000000000000000000000
"The SHA-256 hash of a block's header must be lower than or equal to the current target for the block to be accepted by the network."
So it must be less than or equal to the number shown above, until the next adjustment.
Oh, to answer your question directly "adding another zero" is a shift by 4 bits so it would increase the difficulty by 24 = 16 times the previous difficulty = a 1600% increase in the difficulty.
I have waited for hours before .
+1
timecode of block here : http://blockr.io/block/list/
block 308511 and 308512 = 52min
This isn't a surprise though, it happens.
You call a 40min long ?
I have waited for hours before .
I have waited for hours before .
thx Burt...yeah didnt really understand the article.
too much thinking for a Sunday
I guess my question is: whats the granularity of the difficulty changes?
too much thinking for a Sunday
I guess my question is: whats the granularity of the difficulty changes?
"The largest legal value for this field is 0x7fffff"
The number has 6 bytes for the mantisa minus the sign bit so the minimum change is 1 part in 223 = a minimum change of about 0.00001192%
In other words changing the target from:
0x0000000000000000415FD1000000000000000000000000000000000000000000 to
0x0000000000000000415FD2000000000000000000000000000000000000000000
is a very tiny adjustment.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
thx Burt...yeah didnt really understand the article.
too much thinking for a Sunday
I guess my question is: whats the granularity of the difficulty changes?
too much thinking for a Sunday
I guess my question is: whats the granularity of the difficulty changes?
bad luck and new mining difficulty
my understanding is that the difficulty is based off of how many leading zeros are in the hash of the nonce.
The smallest increase in difficulty is adding one additional zero, correct? by what order of magnitude does this increase the difficulty?
https://en.bitcoin.it/wiki/Difficulty
The current target is here:
http://blockexplorer.com/q/hextarget
and it is: 0x0000000000000000415FD1000000000000000000000000000000000000000000
"The SHA-256 hash of a block's header must be lower than or equal to the current target for the block to be accepted by the network."
So it must be less than or equal to the number shown above, until the next adjustment.
Oh, to answer your question directly "adding another zero" is a shift by 4 bits so it would increase the difficulty by 24 = 16 times the previous difficulty = a 1600% increase in the difficulty.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
Pretty interesting, to say the least. It's been a while since I've seen a really large block time, so I think it calls to ask: What could lead to such a long wait?
variance.
10 minute block time is on average, sometimes 4 blocks can be found in 10 minutes, and other times 40 minutes can pass without finding a block.
it's a random process.
So essentially as long as it averages out to roughly 10 minutes the process works exactly as planned? Haven't actually looked at the source to see where variance is accounted for. Thank you for this.
Pretty interesting, to say the least. It's been a while since I've seen a really large block time, so I think it calls to ask: What could lead to such a long wait?
variance.
10 minute block time is on average, sometimes 4 blocks can be found in 10 minutes, and other times 40 minutes can pass without finding a block.
it's a random process.
So essentially as long as it averages out to roughly 10 minutes the process works exactly as planned? Haven't actually looked at the source to see where variance is accounted for. Thank you for this.
Pretty interesting, to say the least. It's been a while since I've seen a really large block time, so I think it calls to ask: What could lead to such a long wait?
variance.
10 minute block time is on average, sometimes 4 blocks can be found in 10 minutes, and other times 40 minutes can pass without finding a block.
it's a random process.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
Makes sense (trying to draw back to my required Statistics course), so is the reasoning found in the difficulty and luck calculations?
not really. Poisson just describes distribution of solving time based on 10 min average and no dependencies between one block and the next.
Pretty interesting, to say the least. It's been a while since I've seen a really large block time, so I think it calls to ask: What could lead to such a long wait?
Bad luck, basically.
It really sucks -- it seems lately anytime I send a bitcoin payment, I end up on the block where it takes 1+ hour for a confirmation. I dread when I send a payment, and look to the see the last blocks at like "1 min, 4 min, 8 min" and then I know I might be in for a wait. Gambler's fallacy aside....
Makes sense (trying to draw back to my required Statistics course), so is the reasoning found in the difficulty and luck calculations?
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
bad luck and new mining difficulty
my understanding is that the difficulty is based off of how many leading zeros are in the hash of the nonce.
The smallest increase in difficulty is adding one additional zero, correct? by what order of magnitude does this increase the difficulty?
Pretty interesting, to say the least. It's been a while since I've seen a really large block time, so I think it calls to ask: What could lead to such a long wait?
Me sending a tx.
You just HAD to go and spend your millions of Bitcoin in a single TX.
bad luck and new mining difficulty
Pretty interesting, to say the least. It's been a while since I've seen a really large block time, so I think it calls to ask: What could lead to such a long wait?
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