Estimation on time until reaching next difficulty level

cdhowie

full member

Activity: 182

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Quote from: xenon481 on April 06, 2011, 10:55:41 AM

More accurately, the target adjusts every 2016 blocks. If the period between retargets was less than two weeks, then the difficulty increases. If it was more than two weeks, the difficulty decreases.

That's exactly what I said in my first reply. I was summarizing. Tongue

Alexium

newbie

Activity: 22

Merit: 0

Quote from: [Tycho] on April 06, 2011, 11:28:00 AM

http://bitcoin.sipa.be/speed-lin.png

Thank you. I never thought it was SO FAST. So sad I didn't know about the project last summer...

[Tycho]

hero member

Activity: 742

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Quote from: Alexium on April 06, 2011, 10:59:02 AM

cdhowie, xenon481, thank you. I think I got it.
I still wonder what's an average speed of hashrate growth for, say, last 6 months. Or last year. Is it possible to find that out?

http://bitcoin.sipa.be/speed-lin.png

Alexium

newbie

Activity: 22

Merit: 0

cdhowie, xenon481, thank you. I think I got it.
I still wonder what's an average speed of hashrate growth for, say, last 6 months. Or last year. Is it possible to find that out?
The idea is to calculate the difficulty for a given time in the future, based on the current trend.

xenon481

sr. member

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Quote from: cdhowie on April 06, 2011, 10:32:48 AM

the target adjusts about every two weeks, and this changes the difficulty.

More accurately, the target adjusts every 2016 blocks. If the period between retargets was less than two weeks, then the difficulty increases. If it was more than two weeks, the difficulty decreases.

Alexium

newbie

Activity: 22

Merit: 0

Quote from: cdhowie on April 06, 2011, 10:32:48 AM

Quote from: Alexium on April 06, 2011, 10:29:16 AM

Please excuse a noob, I didn't know it's being ajusted periodically.

No need to excuse anyone; everyone starts a noob.

For further reading on this subject:
https://en.bitcoin.it/wiki/Target
https://en.bitcoin.it/wiki/Difficulty

If it's not clear from the articles, the difficulty is a function of the target; the target adjusts about every two weeks, and this changes the difficulty.

Thanks!

cdhowie

full member

Activity: 182

Merit: 107

Quote from: Alexium on April 06, 2011, 10:29:16 AM

Please excuse a noob, I didn't know it's being ajusted periodically.

No need to excuse anyone; everyone starts a noob.

For further reading on this subject:
https://en.bitcoin.it/wiki/Target
https://en.bitcoin.it/wiki/Difficulty

If it's not clear from the articles, the difficulty is a function of the target; the target adjusts about every two weeks, and this changes the difficulty.

Alexium

newbie

Activity: 22

Merit: 0

Please excuse a noob, I didn't know it's being ajusted periodically.
I think I read something about saltatory difficulty adjustment upon reaching some predefined amount of blocks (2 hundred thousand something).
Have to go RTFM.

dbitcoin

hero member

Activity: 742

Merit: 500

BTCDig - mining pool

Current Blocks: 117028 | Current Difficulty: 82347.22294654 | Next Difficulty At Block: 118943 | Next Difficulty In: 1915 blocks | Next Difficulty In About: 2 weeks, 0 days, 12 hours, 57 minutes, and 20 seconds | Next Difficulty Estimate: 76076.55229829

There is no strict numbers, always updated during 2 week period.

cdhowie

full member

Activity: 182

Merit: 107

Quote from: Alexium on April 06, 2011, 10:17:12 AM

Greetings!
I'd like to hear from those familiar with the system's statistics. How much time would you say we have until next difficulty level, considering the present hashrate and the hashrate growth speed?

Thanks!

The hash target is adjusted every 2016 blocks to try to cause the next 2016 blocks to take two weeks to find. So, if the network's hash strength is growing, you can expect the target to adjust a bit sooner than two weeks.

Alexium

newbie

Activity: 22

Merit: 0

Greetings!
I'd like to hear from those familiar with the system's statistics. How much time would you say we have until next difficulty level, considering the present hashrate and the hashrate growth speed?

Thanks!

Topic: Estimation on time until reaching next difficulty level (Read 2340 times)