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Author Topic: OMG 1 terahash = 1 million USD ahahahaha  (Read 1564 times)
geffaxiv-532
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June 06, 2012, 10:10:27 PM
 #1

WTF happened? Did the difficulty rating go up by alot?

1 terahash used to be worth alot more...
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June 06, 2012, 10:52:28 PM
 #2

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  Shocked
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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  Shocked

Difficulty increase is limited to 4X.

https://www.bitcoin.org/bitcoin.pdf
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June 07, 2012, 01:00:59 AM
 #4

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
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June 07, 2012, 06:44:48 AM
 #5

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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June 07, 2012, 08:16:38 AM
 #6

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 Smiley

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June 07, 2012, 09:22:21 AM
 #7

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  Shocked

Difficulty increase is limited to 4X.

Learn something new about bitcoin every day!  Smiley

Can you provide a source btw?
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June 07, 2012, 12:08:15 PM
 #8

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  Shocked

Difficulty increase is limited to 4X.

Learn something new about bitcoin every day!  Smiley

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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June 07, 2012, 12:11:41 PM
 #9

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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