From what I know there is litterally 0 link between number of miners and how fast tx are done.
Less miners mean lower difficulty that's all!
Topic: Halving = Less Miners = Slower Transactions - page 2. (Read 1977 times)
Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away
You are right less miners will increase the rate of transaction.Lets wait and see what would its repercussions be Slow transactions = scares people away
Very mature TKeenan
Your language speaks volumes
Why don't you just stick to facts and science and forget about all that kumbaya horseshit. Your language speaks volumes
Satoshi knew what he was doing. Mining is a finely tuned balancing act designed to sustain itself.
i dont think saoshi even expected the price at this range. Today is halving day and i can agree that even with half block reward they are getting huge profit but it effects a lot in pool mining because nowday no one preffers single mining the gets profits faster in pool mining.
Very mature TKeenan
Your language speaks volumes
Your language speaks volumes
Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away
Slow transactions = scares people away
This didn't happen at the last halving did it? Could you explain that? Less miners would mean less difficulty. At some point there's going to have to b equilibrium. Some people out there have the newest and best miners out there (Antminer S9) and others will fall behind or get less profit. It's just all part of the balancing act. It's ok. It'll all work out. It did last time
Plus that's why there is mining pools so the lesser can keep going if they want to or one of many reasons for pools. !!! but i won't resort to name calling like to but not my nature ill let others.
I know right, all I see TKeenan doing is name calling, very immature
Plus that's why there is mining pools so the lesser can keep going if they want to or one of many reasons for pools. !!! but i won't resort to name calling like to but not my nature ill let others.
Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away
So stupid - it hurts. Before halving, we have 6MB of transactions every hour. After halving, we have 6 MB of transactions every hour. Slow transactions = scares people away
Where is the slowing?
Could you be more stupid?
The transactions are only confirmed when a block is solved.
At current difficulty, with two miners, the transactions will never get confirmed.
Because a block will never be solved.
Because, with just two miners hashing, it would take many years to solve a block.
You ignorant cunt
You are confused totally. Such a moron. Each of these two miners bought all the other mining equipment plus a bunch of new equipment and now they each have 2000 PetaHash. So the blocktime would actually go to less than 5 minutes at current difficultly.
Nobody said the difficulty will fail to adjust downward. Your statement are only true if all miners left in a single difficulty adjustment period. A constraint to which I don't agree.
You are the highest level of fucktard there is.
I'll keep doing it .!! it's still kind of the best way to get fast cash . tell me any other way of making cash were you do all most nothing no selling etc just keep up with the gear etc .. so ill keep doing it till im dead or btc die which the way it's going won't happen in my life time.
what's left 124 years by then who knows ?. i won't.
what's left 124 years by then who knows ?. i won't.
Mining will always be profitable. The thing is that today, if you want to get into mining you need to make a big investment otherwise you won't ROI. There's always new mining hardware coming out, you just need to invest big...
Just tell me this: If miners get less reward, does the transaction fees decrease?
No. Miners are free to charge you whatever they wish. Since they get only 1/2 the coins (12.5 BTC) for solving a block, they may wish to make up for that in fees. Or not.Quote
Also, with less miners, will transaction time elongate or with half the total bitcoins, will the transaction time decrease? Along with halving, are cold wallets with no balance about to be removed?
When miners go offline, hashrate goes down, blocks will take longer to solve, and transactions take longer to confirm. This will be compensated for at the next difficulty adjustment, which will happen after 2016 blocks are solved. https://en.bitcoin.it/wiki/DifficultyIf you want the boring stuff, some more details:
1. Miners don't have to include your transaction, so if you didn't include a high enough tx fee, or they simply don't feel like it, your tx won't be included in the next solved block.
2. Difficulty is not adjusted continuously, but only once every 2016 blocks. If enough miners go offline at once, the difficulty doesn't immediately go down. see my previous post.
If/when the price will increase to lets say $800 miners who are leaving right now will jump back. Bitcoin is a self-regulating system, I'm sure everything will be fine.
You are talking about the bitcoin prize. That prize is created by fuzz, it's not self-regulating.
Why would miners invest so much into electricity for half the reward? I see this ending badly
As long as miners are profitable, there is no reason to stop burning electricity in exchange for Bitcoin. But some miners stop being profitable after halving, thats for sure for the older gen equipment. But given the price about doubled since start of the year, I dont predict much dip in hashrate after halving, thus slower transactions before next dificulty retarget in a bit over one week happens. But lets see instead the next days Bitcoin hashrate whos right.
Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away
So stupid - it hurts. Before halving, we have 6MB of transactions every hour. After halving, we have 6 MB of transactions every hour. Slow transactions = scares people away
Where is the slowing?
Could you be more stupid?
The transactions are only confirmed when a block is solved.
At current difficulty, with two miners, the transactions will never get confirmed.
Because a block will never be solved.
Because, with just two miners hashing, it would take many years to solve a block.
You ignorant cunt
Just tell me this: If miners get less reward, does the transaction fees decrease? Also, with less miners, will transaction time elongate or with half the total bitcoins, will the transaction time decrease? Along with halving, are cold wallets with no balance about to be removed?
Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away
So stupid - it hurts. Before halving, we have 6MB of transactions every hour. After halving, we have 6 MB of transactions every hour. Slow transactions = scares people away
Where is the slowing?
Could you be more stupid?
If/when the price will increase to lets say $800 miners who are leaving right now will jump back. Bitcoin is a self-regulating system, I'm sure everything will be fine.
Bottom line is halving is not going to be good news, just watch how the transactions slow down folks
Slow transactions = scares people away
Slow transactions = scares people away
A question to the older members here would be to ask if there was this much worry and fud in the last halving? Surely back then miners where in the same situation that if we never got a price rise then it would become unprofitable to continue to mine and miners would drop out left right and centre. yet we are at another block halving and miners are still doing their thing.
Back then, we still had shitloads of hobby miners with GPUs. Hobby as in "I do this because I think it's fun."
Right around halving time the first ASICs came out. A quantum leap in hashrate, obsoleting all the FPGAs/GPUs.
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