Why not 5Btc every 1 minute? - page 2.

fascistmuffin

newbie

Activity: 56

Merit: 0

Just saw this on the bitcoin wiki:

Quote

Protocol modifications, such as increasing the block award from 50 to 100 BTC, are not compatible with clients already running in the network. If the developers were to release a new client that the majority of miners perceives as corrupt, or in violation of the project’s aims, that client would simply not catch on, and the few users who do try to use it would find that their transactions get rejected by the network.

Maybe a protocol change isn't viable at this time.

Gdawg

newbie

Activity: 7

Merit: 0

I like this idea too. I would love to solo mine but I just don't have enough hash to do it. This would make my life easier as I wouldn't have to worry if the pool went down either.

Austinh100

newbie

Activity: 14

Merit: 0

not gunna lie i like this idea, i would love not to have to rely on a pool with all its fees and garbage and just solo mine if i knew that the chance to get a block was 10x and i would get 5BTC, Great Idea!

fascistmuffin

newbie

Activity: 56

Merit: 0

That's actually a good thought, unless we've missed something about how BTC works. Something smaller would probably make solo mining better, as more people would be able to find blocks. I wonder if this wasn't thought of because the opencl mining wasn't considered when creating BTC.

shads

sr. member

Activity: 266

Merit: 254

It seems to me the biggest barrier for BTC to overcome in terms of widespread adoption is POS. And with a 10 minute delay for first confirmation this is problematic at best. I know this problem can be solved with BTC banks or payment processors but it is still a pretty fundamental barrier.

So why is that a block is set to take 10 mins on average for a 50BTC reward? Why not 1 minute and 5Btc or 30 sec and 2.5Btc? I understand that as you approach 1 second network latency might start to have an impact so there is a practical limit to how short a block cycle can be but I still don't get why it has to be so long?

Topic: Why not 5Btc every 1 minute? - page 2. (Read 2170 times)