When a block of coins is discovered by an address, the existance of those coins

DannyHamilton

legendary

Activity: 3472

Merit: 4801

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When a block of coins

There aren't any blocks of coins. There are blocks of transactions.

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coins is discovered

Coins are not discovered. Nonces are discovered.

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discovered by an address

Addresses don't discover anything. Addresses are added to transactions as a way to create a requirement for a digital signature

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the existance of those coins in the network

Coins don't exist in bitcoin at all. We humans use the concept of a coin as an abstraction to make it easier to discuss the transfer of control over value. There is no "existence of a bitcoin".

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raises the difficulty to discover new coins

The difficulty that is adjusted is the difficulty to solve a new block. It has nothing at all to do with the "existence of bitcoins" and everything to do with the amount of time that it took to solve the the previous set of 2016 blocks.

Mylon

full member

Activity: 140

Merit: 100

Mining FTW

When a block of coins is discovered by an address, the existance of those coins... appears out of thin air. (newly created)
in the network raises the difficulty to discover new coins, correct? The bigger the network, the more difficult it becomes to discover new coins. (like a lottery with only a main price, 1 million people buy tickets, only one person wins. Bitcoin makes sure the lottery only gets done once every 10 minutes, regardless of how many people enter.)

or...

When a block of coins is discovered by an address, the existance of those coins...in the network raises the difficulty to discover new coins, correct? No, the amount of coins that are in the system is irrelevant in regard to how difficult it is to discover the next set of coins. (Only the number of participants, aka Hashing power, change the difficulty to discover new coins)

kjj

legendary

Activity: 1302

Merit: 1026

I couldn't figure out what the hell you were asking either.

SeanArce

full member

Activity: 182

Merit: 100

Quote from: DeathAndTaxes on December 02, 2013, 01:33:19 PM

Ask your question. Not an (incorrect) statement phrased as a question. Just ask the question which is underneath all that. I don't want to try to decode what I think you might be meaning to ask.

You could have just added some knowledge

Barek

full member

Activity: 168

Merit: 100

I think I get what you are asking.

Every 2016 blocks the difficulty is adjusted (based on the performance of the last 2016 blocks) so that on average 6 blocks per hour are discovered.

That means if the previous 2016 blocks more than 6 blocks per hour were discovered, the difficulty rises. If the last 2016 blocks produced fewer than 6 blocks per hour, the difficulty is lowered.

Take a look at http://bitcoinwatch.com/. It shows avg. blocks per hour, current difficulty, estimated next difficulty, and the number of further blocks until difficulty is adjusted.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Ask your question. Not an (incorrect) statement phrased as a question. Just ask the question which is underneath all that. I don't want to try to decode what I think you might be meaning to ask.

SeanArce

full member

Activity: 182

Merit: 100

Quote from: DeathAndTaxes on December 02, 2013, 12:52:38 PM

Quote from: SeanArce on December 02, 2013, 12:49:36 PM

in the network raises the difficulty to discover new coins, correct?

No. Not even close. That was almost like a crypto mad lib where people just fill in random words.

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When a ____ of ____ is discovered by an _______, the existence of those _____ in the network raises the _____ to discover the new _____.

How about you just ask a question rather than phrase an incorrect statement as a question because in this case it is so incorrect it is difficult to determine what you are really asking?

calm down bro. explain it to me like I'm autistic

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: SeanArce on December 02, 2013, 12:49:36 PM

in the network raises the difficulty to discover new coins, correct?

No. Not even close. That was almost like a crypto mad lib where people just fill in random words.

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When a ____ of ____ is discovered by an _______, the existence of those _____ in the network raises the _____ to discover the new _____.

How about you just ask a question rather than phrase an incorrect statement as a question because in this case it is so incorrect it is difficult to determine what you are really asking?

SeanArce

full member

Activity: 182

Merit: 100

in the network raises the difficulty to discover new coins, correct?

Topic: When a block of coins is discovered by an address, the existance of those coins (Read 968 times)