Topic: Woah, block solved in 20 seconds by Slush's pool. (Read 2496 times)

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.

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 .

Pretty soon the cost of ASIC's will be more than a full years' worth of mining.

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.

20 seconds is the current record?

hmmm, maybe we could have a site that monitor and ranks block solving time lol. Interesting to know.

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.

Apparently self professed non-idiots can have difficulty with understanding as well.

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.

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.

20 seconds? I've seen blocks a few seconds apart in the past.

Big whoop...  The network will adjust and the other blocks will be found slower.

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.

So so so so much true!

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.

Dumbass mentality of bitcoiners.  Whadda joke

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".

I'm mining forever. Regardless of profit.

So , you're saying I'm going to be a millionaire?  Cool.

Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.

no, it's normal ... me, too = double paid than normal.