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The adjustment happens every 2 weeks. It's unlikely that miners would go offline simultaneously across the globe to the extent that it would completely grind th
by monokh 6y ago
The adjustment happens every 2 weeks. It's unlikely that miners would go offline simultaneously across the globe to the extent that it would completely grind the network to a halt.
- 0x0 6y agoNo, the adjustment happens every 2016 blocks. If you lose 99.99% of global hash rate, those 2016 blocks will take a million years, instead of two weeks, to compute.
- hanniabu 6y agoLike Unbreakablecoin lmao
- sv0 6y agoIt will take about 400 years to adjust difficulty in such case, but not a million years.
- monokh 6y agoGood point, I had taken the mechanism for granted. So the scenario is that miners drop off at a pace where you don't reach the next adjustment? Taking that into account, the "mining death spiral" theory doesn't seem too far fetched? In bad circumstances, if the network drops a substantial amount of hash rate early in the adjustment, and price took a hit, you could see some major disruption from the miners following suit.
- dragonwriter 6y ago> The adjustment happens every 2 weeks. ...assuming very slow change in hash rate, yes. A rapid increase makes it happen sooner, a rapid loss can stretch it out.