What if the block reward was based on the absolute value of the delta in hashr8?

Tytanowy Janusz

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Quote from: MoneyBomber on May 21, 2023, 02:52:49 PM

My first thought is, "if the hashrate drops, people are incentivized to secure the network by jumping in" & it would also incentivize rapid growth of the network.

Punch holes in this idea. Just a thought.

If the hash rate stabilized, I believe we'd see much higher tx fees. I'm fine with that personally.

It already works that way doesn't it? when the hashrate decreases, the difficulty also decreases (less computing power competes for the next block, which is added every 10 minutes), so with the same amount of computing power you will mine more bitcoins in the same time, which increases the profits of miners, which attracts more miners, who fill the gaps left by those who left.

Quote from: MoneyBomber on May 21, 2023, 02:52:49 PM

If the hash rate stabilized, I believe we'd see much higher tx fees. I'm fine with that personally.

tx fees do not depend on the number of miners and their hashrate. New block is added in every 10 minutes and adds transactions with the highest tip for miners. There is no hashrate in this equation.

Halime Anatolia

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Quote from: MoneyBomber on May 22, 2023, 09:18:47 AM

Hashrate drops if the hashrate drops.
The idea is to keep it from dropping by rewarding those who pick it back up

Personally, what are you asking abaout What if the block reward is based on the absolute value of delta in hashr8? I think this result is acceptable and makes sense in that it can contribute to the overall sustainability and security of the network, even if it potentially comes at the expense of affordability for each transaction. However, this idea has certain vulnerabilities that require further exploration of the application of block reward systems related to absolute deltas in hash rates.

Doan9269

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Hashrates cannot be stopped at except if the entire blocks had been completely mined, for now there's no fix hashrates level that we use in determining this because it can be a little high or low sometimes, but yet that's not the reason to why the bitcoin price or the transa fee jumped up, there are many things to consider to this, but in this occasion of the recent experience, it was due to the inclusion of ordinals inscription on the bitcoin network making it more competitive as they imcreases so is the transaction fee increases because they have taken over the network because of their highest bid for making their own transaction to get confirmed first.

MoneyBomber

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Hashrate drops if the hashrate drops.
The idea is to keep it from dropping by rewarding those who pick it back up

Bitcoin_Arena

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How do you drop the hashrate for example? Planning to go China on the miners? Because what causes it to go up is the number of miners out there so long as it's profitable.

A drop in network hashrate would also mean that the network becomes less decentralized and easy to attack.

MoneyBomber

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My first thought is, "if the hashrate drops, people are incentivized to secure the network by jumping in" & it would also incentivize rapid growth of the network.

Punch holes in this idea. Just a thought.

If the hash rate stabilized, I believe we'd see much higher tx fees. I'm fine with that personally.

Topic: What if the block reward was based on the absolute value of the delta in hashr8? (Read 64 times)