Author: Paul Sztorc 2016-03-03 01:06:27
Published on: 2016-03-03T01:06:27+00:00
In a message on the Bitcoin-dev mailing list, Gregory Maxwell questions the proposal of a large difficulty drop in the Bitcoin network, stating that it would only make sense if there was evidence suggesting a significant decrease in hashrate. He argues that this is almost certainly untrue given the current state of equipment with state-of-the-art power efficiency. In response, Paul suggests that miners should invest in hardware closer to the halving, rather than making investments too soon. He notes that assuming miners are already located in low-power-cost areas, the difficulty will quickly rise to compensate for improvements in power efficiency, which could result in the cancellation of any benefits by July. In fact, more efficient miners may pose an even bigger problem in July as chip-manufacturers might have used up all the easy efficiency-increasing moves, leaving little room for further investment.
Updated on: 2023-06-11T04:19:07.519403+00:00