Post
Topic
Board Pools
Re: Bitminter bitcoin mining pool - Pays TxFees, Merged Mining, Fair PPLNS rewards
by
kano
on 07/05/2020, 22:56:38 UTC
Alright, gotcha, so in the 268 days, 38k-ish blocks have been found, but we've been pipped to the post by others finding them first?
No, it's not a race.
It's simply a random event based on a Poisson distribution.

Every ~4billion times you try hashing, you have a 1 in "Network Difficulty" chance of finding a block.
At the moment, "Network Difficulty" is 16,104,807,485,529.4 and it changes every 2 weeks.
So any estimate that says more than two weeks is also very wrong.

Thus for small pools like this (and mine) it takes a long time, on average, to find a block.