Damus

Recent Notes

JackTheMimic · 2w
The difficulty can only reduce by a certain amount, I believe three quarters. But even with that reduction in difficulty, we're still talking a crazy amount of hash power and blocks that would be cont...
Kumamoto profile picture
Ah that makes sense. 2016 blocks averages two weeks under normal circumstances, so it’s block-based rather than calendar-time based. Got it. Looked into it a bit and it sounds like cumulative proof of work, rather than simply chain length, determines the “correct” chain as well.

Reaching that difficulty adjustment is a pretty large barrier. Has been interesting, scary to think of how it would economically affect people if one side ultimately lost and that many blocks were no longer recognized by the other chain. Still want to stack sats, also curious to see how everything unfolds. I feel like I’m stuck in Bitcoin limbo.
Matthew Kratter · 2w
Bitcoin Chain In A Coma (Not Dead) https://blossom.primal.net/96266aaebb78070618d618e23a207988e352fd64ff357b4ed1ba00412b833416.mp4
Kumamoto profile picture
After the two-week difficulty adjustment, say difficulty drops 95%, wouldn't that heavily incentivize a large-scale miner to mine the BIP-110 chain? For two weeks, wouldn't they be tearing through blocks at an insane rate? Wouldn't that also catch the BIP-110 chain up to the "legacy chain" because blocks would be mined so quickly due to the lower difficulty?
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JackTheMimic · 2w
The difficulty can only reduce by a certain amount, I believe three quarters. But even with that reduction in difficulty, we're still talking a crazy amount of hash power and blocks that would be continuously going for 2016 blocks NOT two weeks. It might take several years or 2016 blocks to come aro...
Sats and Sunsets · 2w
Blockchain time is measured in blocks not weeks. The two week adjustment is assuming block are being found every ten minutes. The 110 chain would need to find 2016 blocks before an adjustment can be made.
Jeff Booth · 4w
Yes - sad. nostr:nprofile1qqstqlfpduhsgghvqffdmqdx2yac6zcv0mu99y0m7k59au3l3hmclfcpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3camnwvaz7tmwdaehgu3wvf5hgcm0d9hx2u3wwdhkx6tpds7qw0z4 - worth providing a technical breakdown as I think it will be helpful for some.