Gekko btc strategy

May 2, 2021 / Rating: 4.9 / Views: 968

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Bitcoin time to find block calculator

minutes and there seems to be a lot of confusion about what's rare and what is not so I thought I'd make a post about this. Everything below assumes a stable hash rate with an average of 10 minutes between blocks. When miners hash to find a block, each new hash has an equal chance to find a block, regardless of when the previous block was mined. This means that the probability of finding a block in the next minute does not depend on whether a block was found in the last 9 (or any other number) minutes. A probability distribution with this property is called memoryless and it can be very counter intuitive. For example, since the time between blocks is 10 minutes on average, you might expect any random point in time to have on average 5 minutes since the last block and 5 minute until the next block. But in reality it's on average 10 minutes since the last block and 10 minutes until the next block. Yes, this means that a random point in time falls in an average gap of 20 minutes! This makes sense if you think that larger gaps are more likely to capture your randomly chosen point in time than smaller gaps. The time between blocks follows the Exponential distribution, which is indeed the only continuous memoryless distribution (the geometric distribution being the only discrete memoryless distribution). This means that the probability of a block not being found for where that 10 is the expected time between blocks, so you can replace it if you want to take a different difficulty or time unit into account. So the probability of finding a block in 7 minutes or less is great post, thanks! could you give some brief blocktime examples for different hash rates at current btc difficulty? Any idea when it would get 'critical'sorry my maths won't allow me to do this .. ;)When miners hash to find a block, each new hash has an equal chance to find a block, regardless of when the previous block was mined. This means that the probability of finding a block in the next minute does not depend on whether a block was found in the last 9 (or any other number) minutes. The probability is equal and memoryless, but block propogation DOES cause a slight miner advantage because one may be mining on a shorter POW chain. I do believe Core wildly overamplifies the negative impact of this slight advantage to suit their propaganda. You seem to be very knowledgable on probabilties, maybe you should consider addressing this fact, though you would need hard network statistics. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open cryptocurrency discussion. This happened long before the creation of Bitcoin Cash. Today, r/btc users can discuss any cryptocurrency topic without fear of moderator retaliation, while r/Bitcoin and r/Crypto Currency are both still heavily censored. minutes and there seems to be a lot of confusion about what's rare and what is not so I thought I'd make a post about this. Everything below assumes a stable hash rate with an average of 10 minutes between blocks. When miners hash to find a block, each new hash has an equal chance to find a block, regardless of when the previous block was mined. This means that the probability of finding a block in the next minute does not depend on whether a block was found in the last 9 (or any other number) minutes. A probability distribution with this property is called memoryless and it can be very counter intuitive. For example, since the time between blocks is 10 minutes on average, you might expect any random point in time to have on average 5 minutes since the last block and 5 minute until the next block. But in reality it's on average 10 minutes since the last block and 10 minutes until the next block. Yes, this means that a random point in time falls in an average gap of 20 minutes! This makes sense if you think that larger gaps are more likely to capture your randomly chosen point in time than smaller gaps. The time between blocks follows the Exponential distribution, which is indeed the only continuous memoryless distribution (the geometric distribution being the only discrete memoryless distribution). This means that the probability of a block not being found for where that 10 is the expected time between blocks, so you can replace it if you want to take a different difficulty or time unit into account. So the probability of finding a block in 7 minutes or less is great post, thanks! could you give some brief blocktime examples for different hash rates at current btc difficulty? Any idea when it would get 'critical'sorry my maths won't allow me to do this .. ;)When miners hash to find a block, each new hash has an equal chance to find a block, regardless of when the previous block was mined. This means that the probability of finding a block in the next minute does not depend on whether a block was found in the last 9 (or any other number) minutes. The probability is equal and memoryless, but block propogation DOES cause a slight miner advantage because one may be mining on a shorter POW chain. I do believe Core wildly overamplifies the negative impact of this slight advantage to suit their propaganda. You seem to be very knowledgable on probabilties, maybe you should consider addressing this fact, though you would need hard network statistics. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open cryptocurrency discussion. This happened long before the creation of Bitcoin Cash. Today, r/btc users can discuss any cryptocurrency topic without fear of moderator retaliation, while r/Bitcoin and r/Crypto Currency are both still heavily censored.

date: 02-May-2021 11:22next


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