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Topic: Woah, block solved in 20 seconds by Slush's pool. (Read 2442 times)

member
Activity: 98
Merit: 10
Village Idiot
The same error in statistics is made for those people who think that 10 rolls of a die without getting a '6' increases the chance that a '6' will come next.  It doesn't.  The chance of rolling a '6' is the same whether or not 10 non-'6's occurred previously.

This is the kind of hoary misdirection that smug fuckwits like to whip out to prove how much smarter they are than everyone else. I'm calling you on it.

The chances of any one roll turning up a '6' are in fact even throughout the series. The chances of rolling ten times without getting a '6' are significantly less. Attempting to play games with the wording doesn't make you smarter than everyone else, it just makes you an asshole.
sr. member
Activity: 400
Merit: 250
the sun is shining, but the ice is still slippery
ahh you gotta love variance and when luck is on your side. if you go to ghash.io and scroll down to the solved blocks its mind boggling to see how quickly they solve blocks. Interesting to see those times of "bad luck" and its takes an hour for a 5 petahash pool to solve a block. Its all about the variance they say .
newbie
Activity: 42
Merit: 0
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

So so so so much true! Grin
Pretty soon the cost of ASIC's will be more than a full years' worth of mining.
global moderator
Activity: 3766
Merit: 2610
In a world of peaches, don't ask for apple sauce
20 seconds is the current record?

hmmm, maybe we could have a site that monitor and ranks block solving time lol. Interesting to know.
Blockchain.info might have some hidden away chart. They have charts for almost everything, so they gotta have one for time lapses between 2 blocks.
full member
Activity: 378
Merit: 100
20 seconds is the current record?

hmmm, maybe we could have a site that monitor and ranks block solving time lol. Interesting to know.
global moderator
Activity: 3766
Merit: 2610
In a world of peaches, don't ask for apple sauce
20 seconds? I've seen blocks a few seconds apart in the past.

Every block gets solved in 20 seconds.  Think I am wrong?  You don't understand math.

For each block, go to a moment in time 20 seconds prior to its solution.  At that moment, the network has accomplished zero progress on the impending solution.  However, in the coming 20 seconds - it finds a solution.

A solution doesn't get easier as time passes doesn't depend upon.  The network doesn't advance and close in on a solution as the clock ticks. 

The same error in statistics is made for those people who think that 10 rolls of a die without getting a '6' increases the chance that a '6' will come next.  It doesn't.  The chance of rolling a '6' is the same whether or not 10 non-'6's occurred previously.

The state of the miners 20 seconds prior to a solution is identical to the state of miners which have been working for one hour.  Thus, the probability that a solution will come in 20 seconds is identical for the case where a solution was just found, and for when the miners have been working a long time.  Miners having been working a long time do not increase the probability that a solution will come in the next 20 seconds.  Thus, every block was solved in 20 seconds - it is just 20 seconds prior to the moment the solution came. 

Idiots - find it incredible that a block was solved in 20 seconds - they all are.
So according to your logic a block was actually in 0 seconds. However, we're not here to explore meanings of used terminology, we're here to discuss the small amount of time between 2 blocks being found.
hero member
Activity: 490
Merit: 501
20 seconds? I've seen blocks a few seconds apart in the past.

Every block gets solved in 20 seconds.  Think I am wrong?  You don't understand math.

For each block, go to a moment in time 20 seconds prior to its solution.  At that moment, the network has accomplished zero progress on the impending solution.  However, in the coming 20 seconds - it finds a solution.

A solution doesn't get easier as time passes doesn't depend upon.  The network doesn't advance and close in on a solution as the clock ticks.  

The same error in statistics is made for those people who think that 10 rolls of a die without getting a '6' increases the chance that a '6' will come next.  It doesn't.  The chance of rolling a '6' is the same whether or not 10 non-'6's occurred previously.

The state of the miners 20 seconds prior to a solution is identical to the state of miners which have been working for one hour.  Thus, the probability that a solution will come in 20 seconds is identical for the case where a solution was just found, and for when the miners have been working a long time.  Miners having been working a long time do not increase the probability that a solution will come in the next 20 seconds.  Thus, every block was solved in 20 seconds - it is just 20 seconds prior to the moment the solution came.  

Idiots - find it incredible that a block was solved in 20 seconds - they all are.

Huh?

I understand that there is no progress on the proof of work...

That doesn't change the fact that sometimes there is 1 minute between blocks and sometimes there is 1 hour between blocks...

We weren't talking about how long it took the device to find the solution which happened to be the correct one for the next block. We were talking about the length of time between blocks.

Apparently self professed non-idiots can have difficulty with understanding as well. Tongue
legendary
Activity: 1120
Merit: 1010
20 seconds? I've seen blocks a few seconds apart in the past.

Every block gets solved in 20 seconds.  Think I am wrong?  You don't understand math.

For each block, go to a moment in time 20 seconds prior to its solution.  At that moment, the network has accomplished zero progress on the impending solution.  However, in the coming 20 seconds - it finds a solution.

A solution doesn't get easier as time passes doesn't depend upon.  The network doesn't advance and close in on a solution as the clock ticks.  

The same error in statistics is made for those people who think that 10 rolls of a die without getting a '6' increases the chance that a '6' will come next.  It doesn't.  The chance of rolling a '6' is the same whether or not 10 non-'6's occurred previously.

The state of the miners 20 seconds prior to a solution is identical to the state of miners which have been working for one hour.  Thus, the probability that a solution will come in 20 seconds is identical for the case where a solution was just found, and for when the miners have been working a long time.  Miners having been working a long time do not increase the probability that a solution will come in the next 20 seconds.  Thus, every block was solved in 20 seconds - it is just 20 seconds prior to the moment the solution came.  

Idiots - find it incredible that a block was solved in 20 seconds - they all are.

Huh?

I understand that there is no progress on the proof of work...

That doesn't change the fact that sometimes there is 1 minute between blocks and sometimes there is 1 hour between blocks...

We weren't talking about how long it took the device to find the solution which happened to be the correct one for the next block. We were talking about the length of time between blocks.
hero member
Activity: 874
Merit: 1000
20 seconds? I've seen blocks a few seconds apart in the past.

Every block gets solved in 20 seconds.  Think I am wrong?  You don't understand math.

For each block, go to a moment in time 20 seconds prior to its solution.  At that moment, the network has accomplished zero progress on the impending solution.  However, in the coming 20 seconds - it finds a solution.

A solution doesn't get easier as time passes doesn't depend upon.  The network doesn't advance and close in on a solution as the clock ticks. 

The same error in statistics is made for those people who think that 10 rolls of a die without getting a '6' increases the chance that a '6' will come next.  It doesn't.  The chance of rolling a '6' is the same whether or not 10 non-'6's occurred previously.

The state of the miners 20 seconds prior to a solution is identical to the state of miners which have been working for one hour.  Thus, the probability that a solution will come in 20 seconds is identical for the case where a solution was just found, and for when the miners have been working a long time.  Miners having been working a long time do not increase the probability that a solution will come in the next 20 seconds.  Thus, every block was solved in 20 seconds - it is just 20 seconds prior to the moment the solution came. 

Idiots - find it incredible that a block was solved in 20 seconds - they all are.
legendary
Activity: 1120
Merit: 1010
20 seconds? I've seen blocks a few seconds apart in the past.
global moderator
Activity: 3766
Merit: 2610
In a world of peaches, don't ask for apple sauce
Big whoop...  Roll Eyes The network will adjust and the other blocks will be found slower.
legendary
Activity: 1568
Merit: 1001
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

I'm mining forever. Tongue Regardless of profit.

In a twisted kind of way, mining at a level that is less than or equal to the cost of electricity is essentially using the electric company to convert fiat into Bitcoin. You get untraceable Bitcoin for fiat, which is definitely not a bad thing.*

*for various definitions of "bad".
And, it's not like most people don't pay good money for their hobbies even if the above wasn't the case. On one hand, it's over $100 for 2 tix, parking and food/drink to go down to Comerica's Park for a Tigers' game. For a similar amount, one could have 6-12 months worth of mining at that cost depending on one's hashing.
hero member
Activity: 686
Merit: 500
vini, vedi, no vici.
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

So so so so much true! Grin
newbie
Activity: 40
Merit: 0
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

Why? It is very well possible that the price of ASICs will go down and price of BTC will go up, and you can for some time profit even when you only own very small part of the overall hashrate.
legendary
Activity: 1596
Merit: 1026
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

I'm mining forever. Tongue Regardless of profit.
Dumbass mentality of bitcoiners.  Whadda joke
member
Activity: 98
Merit: 10
Village Idiot
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

I'm mining forever. Tongue Regardless of profit.

In a twisted kind of way, mining at a level that is less than or equal to the cost of electricity is essentially using the electric company to convert fiat into Bitcoin. You get untraceable Bitcoin for fiat, which is definitely not a bad thing.*

*for various definitions of "bad".
member
Activity: 91
Merit: 10
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

I'm mining forever. Tongue Regardless of profit.
legendary
Activity: 1904
Merit: 1002
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

So , you're saying I'm going to be a millionaire?  Cool.
full member
Activity: 126
Merit: 100
CAUTION: Angry Man with Attitude.
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.
legendary
Activity: 1512
Merit: 1011
I got lucky too, doubled my normal payout because my miners got in quick.
no, it's normal ... me, too = double paid than normal.
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