MultiversX Tracker is Live!

Bitcoin mining difficulty

Bitcoin Reddit

More / Bitcoin Reddit 124 Views

Hi BTC community,

I'm making a free tutorial on how BTC is working for beginners...

Thus, I would like to cover many subjects, among which the "Mining Difficulty".

I understood that the Difficulty = Current Target / Max Target

Questions

  • Where can I find the Current Target? How is the current target defined?
  • Why is the MAX target fixed at 00000000FFFF00000000000000000000000000000000000000000000000000000 and not F's only? which would be the highest hexadecimal figure
  • How to interpret the Difficulty figure?
    • For instance, today we have a difficulty of 36,950,494,067,222.
    • What does this figure mean exactly?
      • Does it mean that we would need an average of 36.950 TH as hash power to find the target hash?
      • I can see that an average ASIC has a hash power of 166TH/s, thus, it would take 0.21s to find it out... which is not logical... where am I wrong? :-D
    • (Current difficulty source: https://api.blockchain.info/charts/preview/difficulty.png?timespan=1year&h=405&w=720)

Where can I find resources detailing these concepts? I could not find resources explaining such details...

thanks in advance for your help

submitted by /u/Internal-Artichoke-6
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments