3 ms·
Completely wrong. The output is actually completely inverse. More work, more users, less output. The consistency you're thinking of is likely the algorithm th
by cryptodogemoon 9y ago
Completely wrong.
The output is actually completely inverse. More work, more users, less output.
The consistency you're thinking of is likely the algorithm that adjusts blocktime to 10 minute intervals.
- celticninja 9y agoApologies, consistent was not the correct word to convey my meaning. The reward schedule is consistent but the reward itself is pre-determined, known by all participants, it was set out from the beginning. There was no attempt to hide the idea until a certain proportion of the BTC was mined by the creator. Penalising late adopters is just the reverse of rewarding early adopters and bitcoin needed early adopters to keep the network alive so it makes sense to reward them. I dont really buy that late adopters are being penalised though.
- cryptodogemoon 9y agoIf you design a system for mass adoption that exploits the masses and only benefits a tiny group of people and you publish your blueprints and claim the details were available, that doesn't change the fact that you've already literally taken the money supply and run.