Questions tagged [time]

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10 votes
3 answers
2k views

How accurate is Bitcoin network time?

Have any observations been made to conclude the accuracy of Bitcoin network time? It would be interesting to know if NIST or any other authority has tracked the phenomenon.
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26 votes
2 answers
2k views

How does Bitcoin figure out what time it is?

Bitcoin needs to know the current time in order to validate blocks. How does it decide that? Note that I'm talking about the Satoshi client specifically.
Nick ODell's user avatar
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6 votes
3 answers
12k views

How long does it take to download the blockchain? It's been over a day and still going

I'm a newbie to bitcoins, and need some help! I downloaded the Bitcoin client and installed it on my laptop. It is 'Synchronizing with the network' and has been doing this for over a day. Is this ...
Anthony's user avatar
  • 71
3 votes
3 answers
921 views

Why does the median-past time average the last 11 block timestamps and not the last 12?

As described in BIP-113. Wouldn't the last 12 blocks bring us closer to a one-hour offset (ie 120min, midpoint 60)?
Paul Razvan Berg's user avatar
1 vote
2 answers
107 views

What would happen to Bitcoin if GPS/Galileo timing ceased to be available?

According to this web site, the timing from a system like GPS is essential to "financial networks [which] rely on precision timing for synchronization and operational efficiency." Is the ...
brethvoice's user avatar