Topic: Bitcoin (difficulty) (Read 2640 times)

From above post i found a Question as he say that if no one mine the difficulty will drop down..? really

Correct.

More specifically, if it takes longer than 20160 minutes to mine 2016 blocks, then difficulty will drop down.

.. then the miners have to stay afk for a week everyone..

Good luck convincing all the miners to stop creating blocks and stop earning money.

and .. i fount some important information that .. on 2140 years the bitcoin mining will be ended

The process of hashing new blocks and confirming transactions will continue. The blocks just won't contain an inflationary subsidy anymore.

so no new coin will be generated

Correct.

and the difficulty cannot be reversed..

What?
No.
That's not right.
Why did you think that?

There are 21million bitcoins are in the world successfully mined ..

Actually, a bit less than that, but it's close enough.

and 1.5 million or 1million btc is of satoshi nakamoto

Or more. Or less. It's really difficulty to say with certainty, but there is convincing evidence that he probably owns somewhere between 1 million and 1.5 million.

he is the owner of the bitcoin..

He is the owner of SOME bitcoins. Not all of them. I am the owner of SOME bitcoins also. Are you?

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: tuanvie on June 24, 2014, 09:46:26 AM

From above post i found a Question as he say that if no one mine the difficulty will drop down..? really .. then the miners have to stay afk for a week everyone.. and .. i fount some important information that .. on 2140 years the bitcoin mining will be ended so no new coin will be generated and the difficulty cannot be reversed.. There are 21million bitcoins are in the world successfully mined .. and 1.5 million or 1million btc is of satoshi nakamoto he is the owner of the bitcoin..

Not a week, 2 weeks since difficulty changes every two weeks. What do you mean by the difficulty cannot be reversed? I believe it will still continue to retarget even after 21million btc are mined.

LYCAN

full member

Activity: 182

Merit: 100

From above post i found a Question as he say that if no one mine the difficulty will drop down..? really .. then the miners have to stay afk for a week everyone.. and .. i fount some important information that .. on 2140 years the bitcoin mining will be ended so no new coin will be generated and the difficulty cannot be reversed.. There are 21million bitcoins are in the world successfully mined .. and 1.5 million or 1million btc is of satoshi nakamoto he is the owner of the bitcoin..

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

hi all.
The thoughts of my own,
if diff higher if someday bitcoin will still be mined?
of course, whether there might be a newer generation of hardware anymore?
sorry this is just mind I imagined, I was confused to this,
diff the higher the chance is getting no results to mine bitcoin

Obviously, if the difficulty is higher, more people would be mining. New ASICs and people with free electricity would come into the mining game. If no one is mining, the difficulty should drop.

tuanvie

sr. member

Activity: 448

Merit: 250

hi all.
The thoughts of my own,
if diff higher if someday bitcoin will still be mined?
of course, whether there might be a newer generation of hardware anymore?
sorry this is just mind I imagined, I was confused to this,
diff the higher the chance is getting no results to mine bitcoin

Cranky4u

hero member

Activity: 810

Merit: 1000

Quote from: zimmah on June 23, 2014, 06:17:54 AM

Quote from: Cranky4u on June 22, 2014, 08:58:51 PM

Quote from: DubFX on June 22, 2014, 04:05:48 AM

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

Heck he had me confused till you chimed in there mister Wink

How could he do so? He can't? 51% of the network would have to use new client with edited diff in order to make this possible, no?

No, Satshosi has the power of veto within the depth of the Bitcoin prototcol. It is a little known sub-routine hard coded into cryptographic layers themselves and is known as the 'Kobayashi Maru subroutine'. If the Satsh unlocks it or adjusts it, the difficulty can be overcome releasing all 21million BTC in a shower of electronic love.

i'm pretty sure this is a joke

otherwise we would need to trust satoshi, and we'd trust ~~the~~ that my backdoor to never be found.

which is completely the opposite of what bitcoin represents.

Just helpiong with a correftion that follows the theme. Grin

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: Cranky4u on June 22, 2014, 08:58:51 PM

Quote from: DubFX on June 22, 2014, 04:05:48 AM

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

Heck he had me confused till you chimed in there mister Wink

How could he do so? He can't? 51% of the network would have to use new client with edited diff in order to make this possible, no?

No, Satshosi has the power of veto within the depth of the Bitcoin prototcol. It is a little known sub-routine hard coded into cryptographic layers themselves and is known as the 'Kobayashi Maru subroutine'. If the Satsh unlocks it or adjusts it, the difficulty can be overcome releasing all 21million BTC in a shower of electronic love.

i'm pretty sure this is a joke

otherwise we would need to trust satoshi, and we'd trust the backdoor to never be found.

which is completely the opposite of what bitcoin represents.

Cranky4u

hero member

Activity: 810

Merit: 1000

You are all WRONG...King Satoshi can play a trump card of sparkling virtual unicorn cream across the entire blockchain thereby proving the lube for digits to freely explore the crypto-chain of unlimited BTC love

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: trand on June 23, 2014, 02:21:58 AM

Bitcoin Difficult can stop increase if no one mining Bitcoin again
because i guess difficult speed depend of how many miner

Actually, it is impossible for everyone to stop mining bitcoin. If no one mines it difficulty will decrease, difficulty will stay constant if the hashrates stays constant. Hashrates affect the network, not the amount of miners, one miner can have a few PH and increasing it every month and the difficulty will still increase.

trand

full member

Activity: 252

Merit: 100

Streamity Decentralized cryptocurrency exchange

Bitcoin Difficult can stop increase if no one mining Bitcoin again
because i guess difficult speed depend of how many miner

Cranky4u

hero member

Activity: 810

Merit: 1000

Quote from: DubFX on June 22, 2014, 04:05:48 AM

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

Heck he had me confused till you chimed in there mister Wink

How could he do so? He can't? 51% of the network would have to use new client with edited diff in order to make this possible, no?

No, Satshosi has the power of veto within the depth of the Bitcoin prototcol. It is a little known sub-routine hard coded into cryptographic layers themselves and is known as the 'Kobayashi Maru subroutine'. If the Satsh unlocks it or adjusts it, the difficulty can be overcome releasing all 21million BTC in a shower of electronic love.

Dare

hero member

Activity: 508

Merit: 500

Techwolf on #bitcoin and Reddit

Quote from: amaclin on June 22, 2014, 09:05:03 AM

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

In fact, Satoshi can sell his bitcoins. This can affect the cost of bitcoins and difficulty.

Satoshi announcing a major flaw in bitcoin or claiming it to be worthless could have a similar effect, though after the amount of work he's put into it that's extremely unlikely (far more so than him simply reappearing and using some of the coins he mined).

amaclin

legendary

Activity: 1260

Merit: 1019

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

In fact, Satoshi can sell his bitcoins. This can affect the cost of bitcoins and difficulty.

DubFX

sr. member

Activity: 434

Merit: 250

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

Heck he had me confused till you chimed in there mister Wink

How could he do so? He can't? 51% of the network would have to use new client with edited diff in order to make this possible, no?

nwfella

legendary

Activity: 1610

Merit: 1000

Well hello there!

Quote from: DannyHamilton on June 21, 2014, 05:12:29 PM

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

Heck he had me confused till you chimed in there mister Wink

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Quote from: googlemaster1 on June 21, 2014, 04:09:55 PM

Satoshi can lower the difficulty whenever he wants Wink

You're going to confuse the newbies.

googlemaster1

sr. member

Activity: 280

Merit: 250

Satoshi can lower the difficulty whenever he wants Wink

nwfella

legendary

Activity: 1610

Merit: 1000

Well hello there!

Nope. And why is it going? Newer, more efficient hardware and this trend will continue for sometime imho

PPOsales

newbie

Activity: 4

Merit: 0

It's going way too fast because there are so many miners today. I came into the mining game in mid March when the difficulty was 3,8xxxx, just a short 90 days ago. Mining hardware is now more affordable than it was just 5-6 months ago. It's a double edged sword. :/

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Hi there i am new at forum but not new at bitcoin..

I am seeing that the difficulty of bitcoin is increasing very fastly .. well i want to know is there any way that the difficulty can be stopped growing?

ranochigo already did a good job of explaining that the only way to keep the difficulty from growing is to stop all miners from turning on new equipment (or to collectively only turn on as much hash power as they turn off). The only way to reduce difficulty is to get all miners collectively miners to turn off more hash power than they turn on.

I mean if the owner of bitcoin satoshi nakamoto can stop the increasing of difficulty of bitcoin or not?

Satoshi Nakamoto was the original creator of the Bitcoin protocol. He released it into the public as open source software. There is no "owner". Anyone that wants to can run the software, and anyone that wants to can modify the copy of the software that they run. The only way to change how the bitcoin protocol behaves is to convince EVERYBODY running the software to run different software that has different rules.

And why it is going any good reason?

Because of mining.

i just know it increase because of mining..

Oh. You already knew that. Ok. Look back at ranochigo's post. If that doesn't make it clear, let us know and I'll see if I can re-explain it.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange