I have problem finding this. The Bitcoin wiki mentions the probability here, but only with a link to the current value on BlockExplorer.
The wiki page on difficulty doesn't mention the formula for the probability either.
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Sign up to join this communityI have problem finding this. The Bitcoin wiki mentions the probability here, but only with a link to the current value on BlockExplorer.
The wiki page on difficulty doesn't mention the formula for the probability either.
If the current difficulty is D, then the target hash (the value below which block hashes must go) is:
0x00000000FFFF0000000000000000000000000000000000000000000000000000 / D
(by definition of difficulty, which is a fraction of the maximum target), or otherwise put, the number of valid hashes is:
65535 * 2208 / D
Which means that the ratio of all hashes over valid hashes would be:
2256 / (65535 * 2208 / D) = D * 248 / 65535 = D * 4295032833
Which, at the current (January 2017) difficulty of D = 392963262344.3704 means that one hash in
392963262344.3704 * 4295032833 = 1687790113931869416948
results in a valid block, or each attempt has a chance of
1 / 1687790113931869416948 = 0.000000000000000000059 %