This reminds me the bet in the bitcoin community [1]. If on average bitcoin blocks are produced every 10 minutes, and you learn that 5 minutes ago someone found a block, what is the average time you will wait for the next block? It turns out it's 10 minutes, not 5 minutes as you would intuitively think. (it's a memoryless process, so average expected time till block is always the same - 10 minutes - no matter how many blocks were recently found).
In other words, when you're waiting for bitcoin transaction to be confirmed and go to check how long ago the most recent block was produced, in order to estimate how soon the next one will come - you're doing it wrong. Even if previous block was found 9 minutes ago, you're average waiting time for the next block is still 10 minutes.
In other words, when you're waiting for bitcoin transaction to be confirmed and go to check how long ago the most recent block was produced, in order to estimate how soon the next one will come - you're doing it wrong. Even if previous block was found 9 minutes ago, you're average waiting time for the next block is still 10 minutes.
[1]. https://www.reddit.com/r/btc/comments/7rs8ko/dr_craig_s_wrig...