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> 10 new "bitcoins" could fork every day Not really. You are forgetting how the difficulty works (or simply don't understand bitcoin). You'd have to have a si
by SolarNet 9y ago
> 10 new "bitcoins" could fork every day
Not really. You are forgetting how the difficulty works (or simply don't understand bitcoin).
You'd have to have a significant percentage of the bitcoin mining infrastructure. If you have 1% of the bitcoin mining infrastructure it would take 100x the time to mine a block, or 1000 mins, or basically half a day, that would take a week of not getting bitcoin simply to confirm the new chain. As it is this new coin accounts for like 5% of the bitcoin mining power.
To do 10 new forks every day would take a 70% of the bitcoin mining power to sustain for just a week.
- madars 9y agoThis is assuming that forks retain the difficulty target, which they don't have to. In fact, the Bitcoin Cash fork doesn't.
- dgacmu 9y agoYou can encode an immediate diff reduction as part of the hard fork. The block produced with too low a diff will make it invalid on the original chain, thus forking. It's trivial to create as many hard forks as you want.
- stale2002 9y agoNo it wouldn't. All you have to do is change the proof of work algorithm. Bitcoin Cash literally did thus, by reducing the the difficulty.