Difficulty when mining stops? | Bitcointalksearch.org

bitpop

legendary

Activity: 2912

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Quote from: mjc on January 07, 2014, 05:44:47 PM

Quote from: franky1 on January 05, 2014, 02:50:19 PM

i dont wonder about things beyond my life time..

Neither did the programmers that gave us the Y2K bug. Of course that was in their life time.

We fixed that.

However, I'll give my estimate of the difficulty 10 days after mining stops. It will be 1.

I think it will be cpu level but 1 nah

mjc

hero member

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Available on Kindle

Quote from: franky1 on January 05, 2014, 02:50:19 PM

i dont wonder about things beyond my life time..

Neither did the programmers that gave us the Y2K bug. Of course that was in their life time.

We fixed that.

However, I'll give my estimate of the difficulty 10 days after mining stops. It will be 1.

Eternity

full member

Activity: 196

Merit: 100

Should remain unchanged.

Anyways there is way too much time

Sauzer00

newbie

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Someone can predict, or have an idea how much will be the increase of % ?
30%-40%-50% ? every step

teukon

legendary

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Quote from: bitpop on January 05, 2014, 03:09:27 PM

Well the technology is interesting

I just wonder why such the hubbub about transaction fees. It only takes ONE miner to keep the network going at that point, even with a cpu 100 years old

The hubbub is probably about the potential for a "51% attack". If there's just one CPU running the whole network then one could easily reverse any recent transactions one wished using a two-CPU machine.

bitpop

legendary

Activity: 2912

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Well the technology is interesting

I just wonder why such the hubbub about transaction fees. It only takes ONE miner to keep the network going at that point, even with a cpu 100 years old

franky1

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Quote from: bitpop on January 05, 2014, 02:31:18 PM

I really wonder how graceful the change would be and how much fucking terra petta hs would they have in 2140

i dont wonder about things beyond my life time.. and the gradual interest in the future only increase with the distance from today. so what is really important to waste time speculating and theorising is the next year, less important are the next 10 years, and less again important are the next 60 years.. after that i dont care. ill leave it for my grand children to waste their mental energy on, well maybe great grandchildren as my as its still atleast 4 generations away.

bitpop

legendary

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I really wonder how graceful the change would be and how much fucking terra petta hs would they have in 2140

teukon

legendary

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Difficulty is automatically adjusted every 2016 blocks (2016 = 2 weeks / 10 minutes).

If mining suddenly stops then no more blocks will be produced so we will not reach the next adjustment period and difficulty will remain unchanged.

If people just gradually mine less with time then difficulty will reduce, attempting to keep to 10 minutes per block. It can only fall as much as 25% at once and cannot drop below 1.

bitpop

legendary

Activity: 2912

Merit: 1060

Does difficulty stay the same and subside when mining stops? Isn't it true that mining never really stops except for block reward? So people will still mine blocks but get transaction fees?

I used to think no more blocks but then I was like, no way lol.

Topic: Difficulty when mining stops? (Read 1696 times)