sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja
The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or
under two weeks the previous 2016 blocks took to find.
This doesnt really describe when difficulty is calculated. I am at loss here, anyone knows?
I understand the difficulty is set every 2016th block, but at which time frame or between which time frame does it get calculated?
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JackH: this seems firmly in #bitcoin territory, no?
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well I wanted to explore what happens exactly in terms of hashrate and how it results in difficulty calculation - no not a political issue, pure technical interest
yeah not trying to be mod police, just if it's about bitcoin *today* it's there rather than here, as i understand.
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yep, I agree about "the bitcoin today" issues are not for here. I actually just wonder about PoW and difficulty itself and how those are calculated
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JackH: #bitcoin is a more appropriate channel to ask these type of questions.