Topic: If EVERYBODY but me would stop mining ... (Read 2598 times)

also the diff adjustment is really slow, even if this would happens you won't get anything, because of that

It's a bit had to understand you, which is why I find it hard to help you. I don't even see the point or question in your posts. 

It figures that you'd see it as elitism. Let's recap: You don't understand it, you don't want to read about it, you don't want to hear that that can be dangerous. Fine. You're free to do whatever you like, bud. I'm all about choice and the responsibility that comes with it.

BTW, it is DIFFICULTY that is one of the feedback loops. Naturally, for there to be a loop at all, it must be able to move within a range. "High" difficulty now, according to you—to me, it is operating exactly as designed, and is limiting the release rate of new BTC as intended, and the economy is just doing its supply-and-demand thing based on available tech and the current and speculative price, seen as ROI by miners—and by the time we're at minuscule block rewards and all Tx fees for miner incentives, maybe it'll be what you call "low" relative to the tech at that time.

How can one begin to "argue different[ly]" without understanding the foundational structures? I am continually amazed by the now-majority here in the ruins of the once-brilliant BCT. So glad there's a more "secretive" one, which admits only those who at least have read and grasp maybe 20% of the whitepaper. You'd probably say elitist, I say that's a low bar compared to BCT even 18 months ago. If there were a way to bet on it and it could be proven, I'd wager you've never even skimmed the whitepaper, though only a few pages long.

You really should read it if you give a damn about any of this at all. If you're just here for a thrill or to play with magical internet money like a penny stock hoping to strike it rich, by all means, do as you please. You're right, Doge is more suited for you, then, as a community.

Doge is fantastic, BTW, because of exactly that. What I can't fathom is, why everyone all of a sudden wants the serious Bitcoin communities and the older hands to stop being "serious" and be more like Doge. Serious is how we got here, and it's how you got Doge! Yes, we're flippant about politics and jurisdictional shenanigans. See TPB. Lawmen thinking they can order the internet about is funny to us. But the mission is serious. Financial oppression and economic war is very real and this is the first chance we've had to implement radical change and free billions. Why Bitcoin exists *is serious*. If you're uncomfortable with that, go play with your carefree Shibe brethren. And—I'll repeat this because you're clearly a "muggle" and muggles are like goldfish—I love their being around in their section of the cryptocommunity as well.

What I hate is pretension, mockery, and anti-intellectualism. To say nothing of the incredible disrespect and hypocrisy. You're here because of serious people doing serious work, for free, in their own time, for no guaranteed result. You don't have to worship or love or admire that, but I won't stand for spreading misinformation, refusing to read, and then shrugging it all off like it makes no difference. You're still in a public forum, and a Bitcoin one, and a few random passers-by might actually give half a fuck, brand-new and looking for real answers. You're a "Sr. Member" according to the forum. Fucking act like it, or expect to be called out when one of the few remaining old hands pops by for nostalgia.

sry never gonna happens

If EVERYBODY but you would stop mining you will get all the btcs.

Im not sure elitism works in a network economy.   The inane Doge coin approach seems to have worked far better then it should have but I think it does help to simplify things for people.
  The product will do far better, go further maybe be worth more if it looks and works even like lego.   Thats generally how mass production or scales of economy goes I think

I'll just take it high difficulty is part of a feedback loop and essential to the continuance of BTC and nobody should argue different

I don't know how to simplify it further. It's a system with several feedback loops to self-regulate, just like biological or mechanical systems. These are mechanisms by which the whole operates within design paremeters when individual subsystems are driven out of equilibrium by an environmental delta.

Though fascinating Bitcoin may be, as the first attempt at a global self-regulating economic apparatus, there are just a few feedback loops involved. It is dwarfed by the complexity of myriad manmade and biological systems. So I suggest you spend a few more minutes reading and thinking about the basic building blocks of Bitcoin and derivative cryptocurrencies.

Alternatively, if you insist that you know these pieces already, and still are unclear on even their first-order functioning—which are simpler than the regulatory mechanisms of the humble amoeba—I must conclude that a great number of systems are beyond your grasp, and will certainly not strain to wedge the concept into your mind.

If this is the case, I mean no disrespect or insult. I am not blessed with the time for circumlocution. Be careful around things you don't understand. Bitcoin isn't ready for safe use by you just yet. It's still in the realm of those who understand it, or trust those who do, or just love gambling. The O'Reillys of the world, stymied by gravitational attraction between celestial bodies, are sitting ducks for accidents, robbery, or exploitation (and cannot tell the difference!) when they enter Bitcoinland.

I get its to regulate mining.   Im just pointing out the treadmill effect, you know what Im talking about.    All that technology and energy and like the OP says, it could just be done by one person.  (however that aint much of a network or with redundancy)

I thought someone might summarise why high difficulty improves the product not just prevents abuse.   All these posts and I still dont know everything or least Im checking

Faster blocks improve transaction and confirmation speeds.   If there was no block reward, would that unrestricted process be ok or is a good blockchain still requiring higher diff; to stop forks perhaps

The difficulty adjust accordingly so that a block is found every 10 minutes as intended.

How do you have hundreds of posts and not understand the purpose of difficulty retargets? Let me ask you, then: What do you suppose would happen with fixed difficulty? Or a max difficulty in reasonable space, like, now or before now, so it could only adjust down from here?

Not bitcoin but other coins retarget every block by design, because they are more volatile I guess.    Theres no doubt any drastic change would mean devs take action not just leave it to hang, or it'd be replaced and exchanged to rival crypto currency is my guess.


It does raise a point though.  What is the use of all these difficulty rises.   Is it somehow helping security by open competition it constantly raises the bar beyond the reach of hackers or nefarious parties like NSA, etc

It would take you forever to get to the next difficulty adjustment alone. But yes, essentially you would mine a block every 10 minutes after that.

if everybody stops mining you will never find block and bitcoin will come to the end of time

If difficulty is low, and YOU are the only person mining.... thats not quite decentralized is it? Also if difficulty is low, 51% attacks be easier so if this were to ever be implemented it should only be allowed if you have like 50 th/s or more

Never going to happen, bro.

yeah true.

just ask directly for money, much faster and easy

That is what I mean. How differently could be meant?

No, it will not be more difficult. It will just take more time.

It looks that decreasing difficulty is now much more difficult than increasing it.