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Title: Need help understanding technical details Post by: Emenemer on April 15, 2014, 09:20:28 AM Hi guys,
Im doing a project about Bitcoin as a whole and one part of that is mining. Right now the way that i understand mining as something like this: The difficulty increase over time so that the total amount of hashpower will find a block in around 10 minutes. The current difficult is somewhere around 6.2 billion. Miners try to find a hash thats under the current difficulty, and if its valid a block will be generated. Now there currently are ASCI's that give over 4GH/s. How are these not finding blocks in 1.5 seconds? If someone can explain mining as a whole to me in simple language, that would be awesome. Emenemer Title: Re: Need help understanding technical details Post by: -ck on April 15, 2014, 12:44:12 PM It's 6.2 billion * 2^32 hashes on average to find a block.
Title: Re: Need help understanding technical details Post by: gagalady on April 15, 2014, 03:30:42 PM Try reading this http://startbitcoin.com/ you should find atleast some answers to your questions here.
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