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Title: OMG 1 terahash = 1 million USD ahahahaha Post by: geffaxiv-532 on June 06, 2012, 10:10:27 PM WTF happened? Did the difficulty rating go up by alot?
1 terahash used to be worth alot more... Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: Fuzzy on June 06, 2012, 10:52:28 PM Can you imagine if some mad scientist pointed his quantum computer at bitcoin, solved all the blocks in a split second at the beginning of a new difficulty re-target, then unplugged, leaving the difficulty at 10 billion.
Would take the network a year to solve the next 2016 blocks to re-target to normal again :o Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: notme on June 06, 2012, 10:53:54 PM Can you imagine if some mad scientist pointed his quantum computer at bitcoin, solved all the blocks in a split second at the beginning of a new difficulty re-target, then unplugged, leaving the difficulty at 10 billion. Would take the network a year to solve the next 2016 blocks to re-target to normal again :o Difficulty increase is limited to 4X. Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: Dabs on June 07, 2012, 01:00:59 AM If the scientist were not so mad (or insane) and just solved blocks, but submitted them every 9 minutes (or faster than the average time, but not the next minute), he'd be mining blocks for a long time. And if he's not very greedy, he'd only get half of the block rewards per day.
He could hide in a mining pool, or just go solo. Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: geffaxiv-532 on June 07, 2012, 06:44:48 AM WHAT IS SO SCARY IS NEXT YEAR when 1 terahash will only produce 500,000 USD because of the block split to 25 coins.
Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: Bitcoin-Dice on June 07, 2012, 08:16:38 AM WHAT IS SO SCARY IS NEXT YEAR when 1 terahash will only produce 500,000 USD because of the block split to 25 coins. i think the difficulty will go down, because a lot of people will stop mining because of the cut. So its properly still more than 500,000 USD :) Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: Fuzzy on June 07, 2012, 09:22:21 AM Can you imagine if some mad scientist pointed his quantum computer at bitcoin, solved all the blocks in a split second at the beginning of a new difficulty re-target, then unplugged, leaving the difficulty at 10 billion. Would take the network a year to solve the next 2016 blocks to re-target to normal again :o Difficulty increase is limited to 4X. Learn something new about bitcoin every day! :) Can you provide a source btw? Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: pieppiep on June 07, 2012, 12:08:15 PM Can you imagine if some mad scientist pointed his quantum computer at bitcoin, solved all the blocks in a split second at the beginning of a new difficulty re-target, then unplugged, leaving the difficulty at 10 billion. Would take the network a year to solve the next 2016 blocks to re-target to normal again :o Difficulty increase is limited to 4X. Learn something new about bitcoin every day! :) Can you provide a source btw? "A single retarget never changes the target by more than a factor of 4 either way to prevent large changes in difficulty. " Title: Re: OMG 1 terahash = 1 million USD ahahahaha Post by: Raoul Duke on June 07, 2012, 12:11:41 PM WHAT IS SO SCARY IS NEXT YEAR when 1 terahash will only produce 500,000 USD because of the block split to 25 coins. Citation needed. |