Bitcoin Course | Big Picture Basics 5.3 - Difficulty & Time

“History is written by the victors, every 10 minutes”
The Bitcoin network, in it’s essence, functions like a decentralized clock, ensuring the steady release of a new block approximately every 10 minutes. Think of this consistency in the way our electricity grid aims to maintain the frequency of its alternating current at either 50 or 60Hz. For electrical devices, this frequency balancing guarantees optimal function. For Bitcoin, the programmatic regulation of blocks every ten-minutes ensures fairness, security, and a predictable rate of currency issuance over time.

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This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.

Video Transcript:

[Music] history is written by The Victors every 10 minutes but how does the blockchain with a constantly changing amount of computers try and to find a fixed answer to each individual block how does that maintain to 10 minutes because if twice as much hash power comes online the blocks won’t be found in 10 minutes they’d be found in 5 minutes there’s more people trying to find the same answer so it would be quicker alternatively if lots of computers dropped offline there’s less people trying to find the same answer per block and so the network and the blockchain constantly dynamically changes the difficulty of how hard it is to find a block to make sure that it adheres to a Time series of 10 minutes and the clearest way to understand this is bringing the laws of physics in the more you move through space time changes and so Bitcoin does that it constantly adjusts its space Vector per block capacity the amount of attempts the amount of attempts required to find each block and we call this the difficulty adjustment and so Bitcoin regulates its time by adjusting its difficulty in space and the the clearest example of this would be if a block takes 100 attempts to find the block there’s 100 attempts at finding the answer if you had a computer that can do 10 attempts per minute then it would take you 10 minutes to find the block but what if you plugged in another computer and you were doing 20 attempts per minute you wouldn’t find the blocks in 10 minutes you’d find them in five and so the network would change it from 100 attempts required to find the answer to 200 attempts it would double the difficulty adjustment if the hash power doubles and so the network is balancing supply and demand to make sure that the blocks are every 10 minutes and the importance of this is is because the issuance of fresh Bitcoin is in every block so we want a constant rate of time to make sure that the issuance of Bitcoin is at a constant rate over time there’s more detail going through the text of this [Music] section

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