Quote from: nullius on February 22, 2018, 03:43:29 AM

Quote from: btctousd81 on February 22, 2018, 02:52:56 AM

imho i read somewhere , it stated new block gets generated every 8-10 minutes.

The target is 10 minutes. However, that is only a probabilistic target.

Quote from: btctousd81 on February 22, 2018, 02:52:56 AM

but sometimes it takes 30 minutes for new block to appear and sometimes more than 1 block gets generated in 5 minutes.,

Or moreor less.

Quote from: btctousd81 on February 22, 2018, 02:52:56 AM

why is that ?

Two reasons:

0. The generation of a block is probabilistic; so how long it takes is dependent on luck. Most of the time, generation time will be close to 10 minutes (a bit more, a bit less). If one miner gets lucky, the time may be significantly shorter. If all miners altogether get unlucky, then the time may be significantly longer.

1. Collective global hashpower (exahashes/second) is not constant.

Quote from: btctousd81 on February 22, 2018, 02:52:56 AM

who is controlling it ?

Lady Luck. Who controls random results? As aforesaid, it is a probabilistic process. The time to generate a block is neither controlled by nor predictable to humans.

Quote from: btctousd81 on February 22, 2018, 02:52:56 AM

isnt there enough hash power already to generate blocks. ?

Yes. The evidence is that blocks are being generated. Time to do so is expected to fluctuate randomly, while usually being close to 10 minutes.

Quote from: btctousd81 on February 22, 2018, 02:52:56 AM

what am i missing here ?

The probabilistic nature of the process.

so if all miners get lucky they can mine a block every minute ? theres nobody to tell them to slow down, becuase its just 1 minute since last block made.

Thank you.