Bitcoin Forum

In Difficulty (https://en.bitcoin.it/wiki/Difficulty) it says that this is the equation of how many seconds it will take me to mine a block:
time = difficulty * 2**32 / hashrate

I put the right numbers:

time = 16847561611550 * 2**32 / 300.000 hashes per second.

I get 241,199,087,129,841,019 seconds (2.7 trillion days).

Is it really that huge or I have done a mistake?

Even if you would have done a mistake, you are not far from the truth.
I ran your numbers with Poolin hashrate (as shown at https://btc.com/)

time = 16847561611550 * 2**32 / (19522 * 10**15) = 3706 seconds, which is just a bit more than one hour.

Which doesn't look that bad on average, although I feel like Poolin may do a tiny bit better than that.

In your calculation, your hash rate is merely 300 hashes/s. Today's miners mine at terahashes/s speeds, so it makes sense that this astronomically small hashrate would take this long considering that this is the hashrate of your PC and they cannot mine bitcoin efficiently at today's difficulty levels.

Also, time to mine a block can't be calculated exactly, because sometimes you get lucky and it finds a block with a hash smaller than the target sooner, or later. Your calculation is the average time it takes to mine a block.

I'm on my phone, so I can't redo your calculation, but the formula is correct... Timerange seems plausible as well.

Are you sure that your hash rate is 300 kH/s? That is really low. Even a PC CPU is 10x - 100x that.

For reference:

In theory, at the current difficulty, subsidy, and price,

• A 30 MH/s CPU will mine a block every 76 million years and earn about $0.001 per year.
• A 1 GH/s GPU will mine a block every 2.3 million years and earn about $0.03 per year.
• A 19 TH/s ASIC will mine a block every 120 years and earn about $571 per year.

that hashrate value seems to be for another mining algorithm. i have seen this lower range of numbers reported for CPU hashrate when mining monero on these mining calculator sites that have such lists.