4 ms·
If blocks aren’t being mined fast enough, the difficulty level automatically goes down, resulting in a higher reward for the same hash rate. So in theory, proc
by comex 4y ago
If blocks aren’t being mined fast enough, the difficulty level automatically goes down, resulting in a higher reward for the same hash rate. So in theory, processing bitcoin should never become uneconomic.
- can16358p 4y agoThis. It can never be economically zero as it has been "bootstrapped" once, in 2009. Someone will always have incentive to mint cheap.
- TylerE 4y agoYes, the problem is it only does that around every two weeks - and that’s at a normal block rate. If hash rate were to suddenly drop say 90% then it could take months to adjust
- rawoke083600 4y agoYes, apart from everyone's views on crypto itself. As a programmer or system designer I urge everyone (who hasn't already) look at the "system design" of bitcoin ! It's beautiful and elegant, like a self-correcting organism ! Ja sure it's not perfect, but dammit it's a hell of a lot better than what I could have come up with :) I'm of course ONLY talking about the system-design components here: (difficulty, mining, minting rate, consensus, ledger etc) YMMV