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Title: BTC Difficulty? Post by: klamathonsite on June 11, 2011, 12:16:34 AM If our BTC Difficulty goes up as we do more and more mining if we where to pull away for 48 hours and not mine all of us would it drive the price of coins up
and then possible will the network think hey wtf and lower the Difficulty again or it only goes up no matter what? and out of that time we where to purchase coins not sell them how would any of that effect the market? kinda a nation or world wide boy cot for 48hours? wouldl it help or not even matter? thanks for input. Title: Re: BTC Difficulty? Post by: Rob P. on June 11, 2011, 12:24:22 AM Difficulty changes are every two weeks. So 48 hours would affect nothing.
Title: Re: BTC Difficulty? Post by: giszmo on June 11, 2011, 12:54:08 AM The difficulty readjusts every 2016 blocks. If no work is done (or very very bad luck causes no block to be found) this can take forever.
As for your speculation: for any given difficulty your BTC returned per kWh is independent of the activity or boycott of the rest of the world but a boycott would affect the next 2016 blocks to pass much faster as difficulty would drop if the the average time to find a block was not 10 but 60 minutes. Title: Re: BTC Difficulty? Post by: Rob P. on June 11, 2011, 01:00:34 AM The difficulty readjusts every 2016 blocks Thank you for correction, my bad. |