Author: Eric Voskuil 2020-03-22 16:54:19
Published on: 2020-03-22T16:54:19+00:00
The discussion among Bitcoin developers revolves around the possibility of miners trying to optimize their mining profit by limiting the average hash rate during retargeting, which may save electricity but has an overall negative impact on the ecosystem. One solution put forward is to hold a lottery for mining, which would be more profitable for the ecosystem as a whole. The issue of block solving slowdown has also been raised, with two practical solutions suggested: do nothing or hard fork a difficulty reduction. If the value of bitcoins retains even a small fraction of its value compared to the previous retarget period and most mining equipment is still operational, doing nothing is probably the best choice. However, if there is a significant drop in bitcoin price or a large fraction of mining equipment becomes unusable, a hard fork to reduce difficulty to a sustainable level may be necessary.
Updated on: 2023-06-14T00:09:54.675625+00:00