geffaxiv-532 (OP)
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Activity: 40
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June 06, 2012, 10:10:27 PM |
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WTF happened? Did the difficulty rating go up by alot?
1 terahash used to be worth alot more...
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Fuzzy
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June 06, 2012, 10:52:28 PM |
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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  |
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notme
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Activity: 1904
Merit: 1002
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June 06, 2012, 10:53:54 PM |
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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 Difficulty increase is limited to 4X. |
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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June 07, 2012, 01:00:59 AM |
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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.
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geffaxiv-532 (OP)
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Activity: 40
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June 07, 2012, 06:44:48 AM |
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WHAT IS SO SCARY IS NEXT YEAR when 1 terahash will only produce 500,000 USD because of the block split to 25 coins.
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Bitcoin-Dice
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June 07, 2012, 08:16:38 AM |
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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  |
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Fuzzy
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June 07, 2012, 09:22:21 AM |
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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 Difficulty increase is limited to 4X. Learn something new about bitcoin every day! Can you provide a source btw? |
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pieppiep
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June 07, 2012, 12:08:15 PM |
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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 Difficulty increase is limited to 4X. Learn something new about bitcoin every day! Can you provide a source btw? I found it at https://en.bitcoin.it/wiki/Target"A single retarget never changes the target by more than a factor of 4 either way to prevent large changes in difficulty. " |
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Raoul Duke
aka psy
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Activity: 1358
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June 07, 2012, 12:11:41 PM |
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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. |
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