You are viewing a single comment's thread from:
RE: Learning Crypto: Where Does Bitcoin Get Its Value?
A wonderful overview...and thank you for the links for further reading!
A clarification on this...
"Every 4 years the difficulty level for these mathematical equations increases, in fact, it doubles."
- Every 4 years the block reward halves.
- Every 2 weeks the the difficulty changes -- it can become either more difficult or less difficult, depending on how fast the network is solving the blocks. The goal is to add a block every 10 minutes.
Yes thank you for this clarification. I'll add this info for future videos!
yup, on average every 10 mins - could be a couple an hour or a dozen an hour :-)
difficulty changes up or down every 2,016 blocks. 2016 * 10 mins = 20,160 mins = ~2 weeks
https://coin.dance/blocks#blockDetails
https://www.xbt.eu/
block reward halves every 210,000 blocks
http://www.bitcoinblockhalf.com/