3 ms·

> would suddenly take a lot longer After a 40% hash rate drop, transaction inclusion would take 66% longer on average (1/0.60). So, it would increase from an a

> would suddenly take a lot longer After a 40% hash rate drop, transaction inclusion would take 66% longer on average (1/0.60). So, it would increase from an average of 10 minutes (and potentially up to 40 minutes) to an average of 17 minutes (and potentially up to 50 minutes). I can't imagine any kind of transaction where 10-50 minutes is timely and acceptable, yet 17-67 minutes is unacceptably long. Either 10-50 minutes is already too long/unpredictable, or an increase to 17-67 minutes does not make any difference. > probably an increase in fees Bitcoin's fees did not spike significantly during the one hour between 17:00 and 18:00 UTC.

postalrat 4y ago
Throughput also falls 40%. If bitcoin was being used for anything useful that might matter.
- everfree 4y ago
  Bitcoin's throughput is artificially capped anyways. It can't ever be used for anything where throughput matters, regardless of whether it's at its peak throughput or not. Edit: Furthermore, it's completely normal for Bitcoin's throughput to jump up and down by 40% for an hour during any normal day (and even down to zero blocks in an entire hour every once in a while). Block variance means that blocks come in unpredictably, and each block has a hard size limit, so the network can't "make up for" the lost throughput.
ineedasername 4y ago
Just because the inconvenience is minor doesn’t mean it isn’t one of usability. That’s moving the goalposts to suit your argument. Argue the usability impact is negligible maybe instead, at least that’s consistent.
- everfree 4y ago
  People making transactions during the impacted hour would have noticed literally nothing different whatsoever about the Bitcoin network. The 40% drop in hash rate was completely indistinguishable from normal variance in block times that happens multiple times during any given day.

postalrat 4y ago

Throughput also falls 40%. If bitcoin was being used for anything useful that might matter.

everfree 4y ago
Bitcoin's throughput is artificially capped anyways. It can't ever be used for anything where throughput matters, regardless of whether it's at its peak throughput or not. Edit: Furthermore, it's completely normal for Bitcoin's throughput to jump up and down by 40% for an hour during any normal day (and even down to zero blocks in an entire hour every once in a while). Block variance means that blocks come in unpredictably, and each block has a hard size limit, so the network can't "make up for" the lost throughput.

ineedasername 4y ago

Just because the inconvenience is minor doesn’t mean it isn’t one of usability. That’s moving the goalposts to suit your argument. Argue the usability impact is negligible maybe instead, at least that’s consistent.

everfree 4y ago
People making transactions during the impacted hour would have noticed literally nothing different whatsoever about the Bitcoin network. The 40% drop in hash rate was completely indistinguishable from normal variance in block times that happens multiple times during any given day.