Author: Eric Voskuil 2016-03-02 20:44:07
Published on: 2016-03-02T20:44:07+00:00
The conversation between Paul Sztorc and Eric Voskuil is about a proposed hard fork to smooth out the Bitcoin block reward halving, which occurs every 210,000 blocks. The proposal suggests that instead of an abrupt drop in mining rewards, there would be a gradual decrease over six months, with three months on high subsidy and three on low subsidy. However, Sztorc argues that changing these futures would punish those who have planned properly and create unpredictability, while Voskuil argues that it can be done through a soft fork. They also discuss the cost and benefit to miners, as well as the potential risks and the precedent of hard-forking to "fix" the money. Finally, they consider the issue of operational losses for miners and the fact that difficulty increases every two weeks.
Updated on: 2023-06-11T04:15:34.370290+00:00