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danielgold20
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July 31, 2017, 01:06:32 PM
 #1

Hello everyone!

Question, tell me please if there will be bitcoin split for example is the difficulty of the mining should be changed?
and If there will be 2 coins are the miners that able to mine today bitcoin will able to mine to mine those 2 coins? or there will probably will needed new miner ?

Thank you for your help!
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July 31, 2017, 01:22:38 PM
 #2

Question, tell me please if there will be bitcoin split for example is the difficulty of the mining should be changed?
part of difficulty is based on how much hashrate is mining bitcoin or in other words how many miners.
if it splits and the splitted chain (BCC in this case) will obviously won't have enough miners on it. the difficulty will stay the same at first but after reaching the difficulty adjustment block (which is every 2016 block) it will be readjusted) and comes down.

Quote
and If there will be 2 coins are the miners that able to mine today bitcoin will able to mine to mine those 2 coins? or there will probably will needed new miner ?
if the new chain doesn't change the way mining works (like changing PoW or other factors influencing it) anyone who was mining before will be able to mine the new chain too but it may not be profitable because of the price of new chain and cost of mining.
in case of BCC this is true. you won't need new miner you can mine with the same ASIC as before.

they can not mine both at the same time though!

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pawel7777
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July 31, 2017, 01:30:04 PM
 #3

Question, tell me please if there will be bitcoin split for example is the difficulty of the mining should be changed?
part of difficulty is based on how much hashrate is mining bitcoin or in other words how many miners.
if it splits and the splitted chain (BCC in this case) will obviously won't have enough miners on it. the difficulty will stay the same at first but after reaching the difficulty adjustment block (which is every 2016 block) it will be readjusted) and comes down.
...

BCC's difficulty will be adjusted quicker:

Quote
Forking rule:
“REQ-7 Difficulty adjustement in case of hashrate drop

In case the MTP of the tip of the chain is 12h or more after the MTP 6 block before the tip, the proof of work target is increased by a quarter, or 25%, which corresponds to a difficulty reduction of 20% .

RATIONALE: The hashrate supporting the chain is dependent on market price and hard to predict. In order to make sure the chain remains viable no matter what difficulty needs to adjust down in case of abrupt hashrate drop.”
Rannasha
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July 31, 2017, 01:40:51 PM
 #4

Question, tell me please if there will be bitcoin split for example is the difficulty of the mining should be changed?
part of difficulty is based on how much hashrate is mining bitcoin or in other words how many miners.
if it splits and the splitted chain (BCC in this case) will obviously won't have enough miners on it. the difficulty will stay the same at first but after reaching the difficulty adjustment block (which is every 2016 block) it will be readjusted) and comes down.
...

BCC's difficulty will be adjusted quicker:

Quote
Forking rule:
“REQ-7 Difficulty adjustement in case of hashrate drop

In case the MTP of the tip of the chain is 12h or more after the MTP 6 block before the tip, the proof of work target is increased by a quarter, or 25%, which corresponds to a difficulty reduction of 20% .

RATIONALE: The hashrate supporting the chain is dependent on market price and hard to predict. In order to make sure the chain remains viable no matter what difficulty needs to adjust down in case of abrupt hashrate drop.”

There are 2 issues with this adjustment-algorithm:

First, it only compared the most recent block with the one 6 blocks before that. So if there's no BCC block mined yet, then the difficulty won't be adjusted. This means that if only a small fraction of the miners switch to BCC, then it will take a long time to find this first block (1% of mining power -> 16 hours on average).

Second, this algorithm doesn't adjust the difficulty further down once a rate of 6 blocks in 12 hours has been achieved. Neglecting variance, that means that when the average over the last 6 blocks hits 2 hours per block, the most recent block took about 1 hour. At that point this form of difficulty adjustment stops and the coin will be moving forward at 1 block per hour until the next difficulty adjustment, which will be somewhere between 1 and 2 months later.

This first issue is only relevant if mining support is very small, but the second issue is relevant in almost every realistic scenario. The chance is extremely high that under these adjustment rules, BCC blocks will be moving very slowly for a considerable amount of times. This will disincentivize miners and users from supporting the chain and it may ultimately doom it.
Red-Apple
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July 31, 2017, 01:41:56 PM
 #5

BCC's difficulty will be adjusted quicker:

well i tried to answer about general fork/split of the blockchain and how the mining will work. and this falls under the things they have changed about mining.

also a thing about forks like this is that they become very unpredictable. in the first day if hashrate is extremely low and they readjust difficulty, hashrate may go up suddenly and cause another kind of delay. as in 1000 blocks mined in 1 hour. (see what happened on SegWit2x testnet when someone redirected a huge hashrate there and mined a lot of blocks!)

p.s. there is also 51% attacks to expect...

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July 31, 2017, 02:07:23 PM
 #6

BCC's difficulty will be adjusted quicker:
There are 2 issues with this adjustment-algorithm:

First, it only compared the most recent block with the one 6 blocks before that. So if there's no BCC block mined yet, then the difficulty won't be adjusted. This means that if only a small fraction of the miners switch to BCC, then it will take a long time to find this first block (1% of mining power -> 16 hours on average).

Isn't 1% a rather bold assumption?
We are lacking solid numbers here, of course, but one could take the BIP91 activation period as a hint on those. 100% - 85% = ?
And 16 hours are forgotten after a half day, at least. The difficulties might end on wednesday this week.

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