Mining Difficulty - Simply Explained

Mining Bitcoin or Ethereum is a hard task for your computer. But why? And what does the difficulty have to do with the security of blockchains? Learn all about blockchains, consensus algorithms and why difficulty adjustment is crucial to keep everything operating at an optimal (and safe) level.

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[guitarheroprince]

can't believe I have ability to watch these high quality educational videos that too for free.

[aakashsonkusare]

Mining summed up in first 10 seconds, wow how easy was that and yet I dint come across such short and accurate definition in so many

[mavhunter]

I can't wait until you drop the video explaining the solutions for the data mining centralization problem!

[jenj]

I hate myself that I just found you today!

You are the best at explaining things in the simplest language my brain can decipher!

[indigo]

I'd love to see what concepts of Bitcoin are old ideas reimplemented and which ones are completely unique

[hamza-]

Satoshi Nakamoto and 6 other bitcoin developers disliked this video (because it criticizes the mining process and exposes a bug 😂)

[shamsoftph]

It’s always interesting to watch) And the question is, how to correctly transfer USDT using such a seed phrase from OKX to binance? head isolate sound end kit industry choice festival limit stable dolphin derive

[syedhabeebuddin]

Satoshi: that mistake is due to for loop and zero based indexing.

[RichardBuckerCodes]

How is the tuning accomplished or what/how are they simply generating heat to waste time? How did China's decision to bull out change the difficulty? Who benefited? for how long? For how much?

[aakashshekhawat]

can you please explain how does proof of work works

[swedo]

What happens to difficulty adjustment in a free energy environment? More miners, mining cheaper. I assume adjustment goes up and makes 10 min average block time still. But could an attack be easier in this environment?

[Ummegg]

big mining setups pretty much killed most mining in my eyes !

Thanks for the great explanation as always. I thought I knew everything about mining reward, but I was wrong. Thanks for adding the rookie mistake detail in the end. Turns out everyone can add bugs. 😜 By the way, could that bug be fixed after the fact? Who or what sets the difficulty? And how? Does it create a new block that defines the difficulty?

[economics-for-beginners]

What does this mean: Xi (nonce) = Hash (Block i) < Hash (Block i−1)

[carousel]

PLease explain eth gas limit, gas supply etc

[morishogo]

So the next change in mining difficulty is in 1 day 14 hours. And it will be reduced from 23 to 20. From 11, 6 min average targeting 10mins block time. Do you think the price of the bitcoin because of this will go up or down?

[ezioauditore]

Hey man, your videos are good. Mind making a video on Intle SGX and on SMPC? Would really appreciate that.

[PierreFikota]

Hy I have a question.
Is it better for a miner to drive with normal diff or is a higher diff better?
I understood that it depends on more ( coin, time, global diff, global hashrate, poolhashrate, my hashrate and more )
What I have not understood is how I find my best diff.
For example :
Currently mine me with a scrypt Asic about 400Mh/s
Wiki says the best diff is 32678
If I do this for an hour I get one or two small wins, but I set the miner to 8192
I get 20 - 25 finds in one hour with a very small reward Al's before but much more often and all in all it makes a difference.
But then again miningrigrentals and some others say that the diff should be at least 10x higher but then I don't find anything.
I would be very grateful for any useful information about this.
Lg and happy Mining

[mattcrouch]

Wait. Satoshi really made an off-by-one error in the bitcoin core system?
Is there a reason it just looks at 2015 blocks, or is it an array indexing oversight?

[sudarshanmg]

Thanks this explained a lot of queries