bitcoin difficulty determination 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.
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