Crypto Master Andreas Antonopoulos Speaks About Bitcoin Mining’s Adjustment Difficulty Metric


Well known Bitcoin evangelist and author, Andreas Antonopoulos, recently spoke with members of the cryptoverse regarding the various difficulties involved in mining BTC. Answering public questions via a Youtube Q&A session a few days back, Antonopoulos spoke about the many issues affecting miners today and why a single BTC block is mined every 10 minutes.

Elaborating further on the matter, the author said that the 10 minute average has been derived using computational data from the BTC network (that forms blocks every two weeks).

Additionally, Andreas also went on to add that:

“The rule in Bitcoin is [about] the difficulty of doing the calculation, which is adjusted every two weeks. The average number of blocks in a period of time [will] equal a block about every ten minutes.”

More On The Matter

When questioned regarding the overall viability of mining BTC in this day and age, Antonopoulos said that due to increasing hash power and energy commitments involved with the entire operation, it is becoming a little more difficult to yield profits effectively when procuring BTC these days.

On the matter, he further stated:

“Let’s say that instead of 2016 blocks, we had 2217 blocks, or effectively 10% more blocks. The network [would adjust] the difficulty [to be] 10% [more difficult], the same ratio as the [percentage] of extra blocks we had versus the number of blocks we should have. Similarly, if we were 10% short, we would adjust by about 10% in the difficulty target. That calculation happens every two weeks, at exactly the same block, and affects the difficulty of the next block across the entire network [of nodes].”

Final Take

As many of our readers already know, 2018 has seen Bitcoin face severe market pressure (with the premier bitcoin currently trading at a measly price point of $3,800).

However, moving forward, it is being predicted by many experts (including Fundstrat’s Tom Lee and Galaxy Digital’s Mike Novogratz) that within the coming 6-12 months, Bitcoin will once again make a comeback and scale beyond its previous ATH of USD$20,000.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide