The target on the block at height 32,255 was:
0x00000000ffff0000000000000000000000000000000000000000000000000000
After the adjustment, the target on the following block at height 32,256 was:
0x00000000d86a0000000000000000000000000000000000000000000000000000
The time between block 30,240 and block 30,255 was 1022578 seconds. If we divide this by the expected time over 2016 blocks we get a ratio of:
1022578 / 1209600 = 0.84538525132275
If we multiply the previous target by this ratio to get the new target, we get:
0x00000000ffff0000000000000000000000000000000000000000000000000000 * 0.84538525132275 = 0x00000000d86a528bc8bc90000000000000000000000000000000000000000000
What are the rules for truncating this result to get the target as stored the in the block header?
I understand that the target is converted to bits and loses some precision, but why is it that we're only including the first two significant bytes of d86a when we could include the three bytes of d86a52 in the bits field?
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