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Author Topic: Bitcoin (difficulty)  (Read 2632 times)
ranochigo
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June 25, 2014, 12:05:51 PM
 #21

From above post i found a Question as he say that if no one mine the difficulty will drop down..? really .. then the miners have to stay afk for a week everyone.. and .. i fount some important information that .. on 2140 years the bitcoin mining will be ended so no new coin will be generated and the difficulty cannot be reversed.. There are 21million bitcoins are in the world successfully mined .. and 1.5 million or 1million btc is of satoshi nakamoto he is the owner of the bitcoin.. Smiley
Not a week, 2 weeks since difficulty changes every two weeks. What do you mean by the difficulty cannot be reversed? I believe it will still continue to retarget even after 21million btc are mined.

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DannyHamilton
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June 25, 2014, 01:07:24 PM
 #22

From above post i found a Question as he say that if no one mine the difficulty will drop down..? really

Correct.

More specifically, if it takes longer than 20160 minutes to mine 2016 blocks, then difficulty will drop down.

.. then the miners have to stay afk for a week everyone..

Good luck convincing all the miners to stop creating blocks and stop earning money.

and .. i fount some important information that .. on 2140 years the bitcoin mining will be ended

The process of hashing new blocks and confirming transactions will continue.  The blocks just won't contain an inflationary subsidy anymore.

so no new coin will be generated

Correct.

and the difficulty cannot be reversed..

Huh
What?
No.
That's not right.
Why did you think that?

There are 21million bitcoins are in the world successfully mined ..

Actually, a bit less than that, but it's close enough.

and 1.5 million or 1million btc is of satoshi nakamoto

Or more.  Or less.  It's really difficulty to say with certainty, but there is convincing evidence that he probably owns somewhere between 1 million and 1.5 million.

he is the owner of the bitcoin.. Smiley

He is the owner of SOME bitcoins.  Not all of them.  I am the owner of SOME bitcoins also.  Are you?
Kprawn
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June 26, 2014, 11:35:10 AM
 #23

Can BTC core developers on BTC, make changes to the protocol, to change almost all the functions? Or are part of it off limits?

Who decide, what changes can be made? Bitcoin foundation?

If one organization can decide, what changes can be made to the protocol, can it not be corrupted?

Where can I find documentation on this, or a thread discussing this? I have read Satoshi's white paper, so I understand the concept, but not how it's applied.

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amaclin
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June 26, 2014, 12:08:44 PM
 #24

Can BTC core developers on BTC, make changes to the protocol, to change almost all the functions? Or are part of it off limits?
Anyone (including me and you) can make absolutely any change to a protocol. No limits at all.

The problem is - what part of the rest of world will accept our changes?
Kprawn
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June 26, 2014, 12:35:33 PM
 #25

But the change you make to the protocol will only apply to you, and will not communicate to the blockchain. Someone decide what changes, must be done to the core protocol, and then it's send out, on forums like this, for general adoption. Who decide on those changes? The Bitcoin foundation or the Core developers?

Can you see where I am going with this?

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bbeesley
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June 27, 2014, 04:15:39 PM
 #26

Where can I find documentation on this, or a thread discussing this?

have you read through this?

https://en.bitcoin.it/wiki/Difficulty

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June 30, 2014, 06:15:02 PM
 #27

Can BTC core developers on BTC, make changes to the protocol, to change almost all the functions? Or are part of it off limits?
Anyone (including me and you) can make absolutely any change to a protocol. No limits at all.

The problem is - what part of the rest of world will accept our changes?

if you are a big guy, a famous one, you could actually do it pretty easily, just spread the world to your friends, and you have tons of those friends

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