Author: Kyle Jerviss 2013-11-07 04:59:28
Published on: 2013-11-07T04:59:28+00:00
The Bitcoin mining process involves solving blocks for rewards, with the expected reward dropping if there is a delay in publishing a block. However, reality is discrete, and delays can result in either the nominal reward or zero. A positive expected value is not enough for a strategy to be effective. One must consider how much unpublished blocks are worth and when to publish them. While this is mostly theoretical at present due to the enormous inflation subsidy and unimportant fees, it could become more complex in the future. Pools contacting Peter Todd is his way of striking fear into large pool miners to switch to smaller ones. If everyone mined solo or on p2pool, none of these issues would matter much.
Updated on: 2023-06-07T19:34:39.152054+00:00