We cannot see how many reaches the miner made into the hat in order to find the right number.

This is probably the most important aspect to remember when discussing hashrate; the number is a statistical approximation.

bitcoin_beginners

Hashrate is like the rate that miners pick numbers out of a hat

k00b

Very nice metaphor!

> We cannot see how many reaches the miner made into the hat in order to find the right number.

This is probably the most important aspect to remember when discussing hashrate; the number is a statistical approximation.