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Leo Wandersleb · 1w
Core surrendered Bitcoin's monetary purpose and almost nobody fought back. That's the BIP-110 story in one line. First, Libre Relay. Peter Todd's relay was already passing and getting mined the "non-...
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Libertas Primordium @libertas primordium
The only part of the statement I take issue with is the "50 days to spend a coinbase". Obviously if there's a fork with lower hashrate, the difficulty will adjust down in two weeks. During the two weeks leading up to the adjustment fee pressure likely builds up due to block delays. Then the mining economics between the two chains starts to get a little interesting.
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Leo Wandersleb · 1w
Two weeks can take 20 weeks if you lack hash power. 50 days to spend a coinbase is 100 blocks in 50 days. Plausible at currently signalling hashrate, isn't it?
Bill Cypher · 1w
The two week timer is based on the number of blocks mined. Fail to mine blocks and it is much longer. 2% of hashrate means 50x as long to get to your first difficulty adjustment. Close to 2 years and basically 0 chance of adjusting in 2 weeks unless they change the rules. Bonus note, hash rate can ...
Tyler Burns · 1w
It isn't just two weeks when there is no hash power. Bitcoin operates on block time, we just say two weeks because that's what it averages out to. But in reality, you're waiting for 2016 blocks to pass no matter how long that takes.