Given the bitcoin difficulty information in https://bitcoinwisdom.com/bitcoin/difficulty, determine the bitcoin difficulty on April 1, 2019 and April 1, 2020. State any assumptions made in this determination.
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6This sounds like homework, what have you tried already?– Raghav SoodCommented Mar 28, 2019 at 22:43
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1 Answer
Bitcoin difficulty as per today is 6,379,265,451,411 which is calculated on March 24th . It is said that the difficulty of hashing in bitcoin is calculated every 2 weeks and each block will take 10 minutes to get generated (which is 9.9 as per the given link). So, the next hash will only be calculated on April 7 i.e., 2 weeks from the previous difficulty. Hence, the current difficulty will be continuing until April 1st, 2019 and it will be the same. The formula for calculating bitcoin difficulty is Next difficulty = (previous difficulty*20160)/(time in minutes to mine last 2016 blocks). But the calculating difficulty for a year is not possible as the difficulty can only be estimated for every 2 week