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Author Topic: Is it possible to mine all BTC before 2140?  (Read 3200 times)
Dabs
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November 19, 2014, 05:52:14 AM
 #21

In the highly unlikely scenario all miners cooperated and...

1) All miners are taken off the network at the next difficulty re-target.
2) In the following two weeks difficulty is re-targeted to zero.
3) All miners then come online and exploit the difficulty.
4) Nobody attempts a 51% attack during the process.
0. Highly unlikely.
1. For all intents and purposes, impossible, not even a majority.
2. For all intents and purposes, because of 1, impossible.
3. Won't happen, because 2 won't happen.
4. With such a low difficulty, someone will attempt this.

I just woke up and had this thought in my head.
Go back to sleep.


In order for 1 to happen, you have to forcefully destroy those miners, or forcefully disconnect them from the internet. We will have other problems when that happens.

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November 19, 2014, 08:28:17 AM
 #22

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In the following two weeks difficulty is re-targeted to zero.

You have 3 mistakes here:

1. The difficulty adjusts every 2016 blocks, not every 2 weeks. It may sound the same but they are definitely completely different concepts.

2. Difficulty will never adjust by more than 4x, for both upward and downward

3. The difficulty will never go below 1

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