Why can't bitcoins difficulty be fixed so only GPU's can mine it? What's the purpose of a dynamic difficulty anyway...

why can't bitcoins difficulty be fixed so only GPU's can mine it? What's the purpose of a dynamic difficulty anyway? it just keeps getting harder and harder until only rich people can mine it. also why not have dynamic block size that adjusts based on network demand? I'm not even that intelligent and even i have thought about this stuff so why hasnt anyone else?

Attached: bill.png (384x409, 297K)

>I'm not even that intelligent
yup

Not sure about the gpu thing. But I think dynamic blocksizes would also mess with the distribution. right now you can calculate inflation to a T. With dynamic blocksizes not.

But who needs the original design when you can turn it into a TOR network?

Fixing the difficulty wouldn't do anything about ASIC's/GPUs, it would just fuck up the incentive structure for miners.

>What's the purpose of a dynamic difficulty anyway?

Read the whitepaper you lazy faggot

reward could be fixed too. if the difficulty is capped everyone will have essentially the same chance at mining a block. you could also hard cap the mining throughput so that more than one GPU would negate any performance gain.

how so? it's just an algorythm that would look at network demand and increase block size accordingly.

those are really great ideas you should start your own coin to compete with bitcoin

>What's the purpose of a dynamic difficulty anyway?
Constant supply.

Block Time = function (Difficulty, Hash Rate)
Every 2016 blocks (2 weeks if 10 min blocks), the difficulty is recalculated to bring the block time back to 10 minutes. The goal is to maintain constant supply of BTC, 12.5 every 10 minutes, regardless if hash rate increasing or decreasing.

Ex: If half the world decides to mine tomorrow, blocks will be mined much quicker (6-8 min blocks), 2016 blocks goes by quicker, and thus difficulty adjusts to bring the speed back to 10 mins.

basically this

idk does block size equal block time? I suppose you could but increasing the size.. wouldn't that bear heavier on the miners whilst dispensing the same reward? Would that cause some kind of competition where miners turn of miners when traffic is high and turn on the miners when traffic is low as to save energy and get the same reward resulting in more profit?

Why would you want to cap the hashrate? That's a retarded idea. The higher the hashrate the stronger the blockchain. Join a mining pool if you can't put your own mining farm together.

blocksize isn't relevant to difficulty
blocksize impacts propagation and node requirements
miners want to mine when the traffic is high to collect fees

wouldn't the attacker have to reverse all the proof of works to undo a block? im no blockchain wizard but don't blocks get hard and harder to fuck with over time as more blocks are created? like doesn't the blockchain itself get stronger as time goes on?

Kinda think this is a larp, gonna answer anyway though

>difficulty be fixed so only GPU's can mine it?
GPUs are good at doing a really broad range of tasks, playing games, rendering video, etc. For bitcoin you only need to solve 1 specific algorithm. So basically what people said was let's take a GPU, rip out everything we don't need for bitcoin's algorithm, then put in more of what we do need. That's what an ASIC is, an Application-Specific-Integrated-Circuit. There's a lot of work right now going into building algorithms that ASICs can't be built for, but bitcoin doesn't really give a shit and is happy having ASICs.

>What's the purpose of a dynamic difficulty anyway? it just keeps getting harder and harder until only rich people can mine it.
It becomes more expensive to mine 1 Bitcoin, it should stay roughly the same to mine $1 worth of bitcoin. That's how it works, more people use bitcoin, bitcoin value goes up, more miners start mining. Opposite is also true, less people use bitcoin, bitcoin value drops, miners leave the network. Because of this it should always stay about equilibrium with the cost of mining $1 worth of bitcoin actually being $1.

>more than one GPU would negate any performance gain.
So you mean like every person is allowed 1 GPU miner? Unfortunately that doesn't really work in practice. New identities can easily be forged in most systems

Dynamic blocksizes are a great idea, you have hit that nail on the head. It's a very easy idea to implement, and was actually in the bitcoin code for a while in the beginning.

Yes, the more blocks produced the stronger older blocks become. That doesn't mean we should put an arbitrary cap in hashrate. Exchanges would just require even more confirmations of that happened. Would you want to wait 12 hours for exchanges to let you trade with your funds?

you shouldn't be trading it. it's not a stock. it's supposed to be digital cash.

All you need to do is handicap the algorythm on purpose. it's really simple. just have the algoryhtm calculate the current hashrate of your GPU and if it goes over the hardcap the algorythm will become more inefficient on purpose to slow you down.

It's permissionless and people can do whatever the fuck they want with it.

and look where that's got us today. failed 2nd layer networks, chink monopolies, etc etc.

Besides, that's just an example. Everyone who accepts bitcoin will require more confirmations if the hashrate is artificially capped.

That's just moving goalposts. No, I don't think the difficulty should be capped, in fact I think that would be antithetical to the entire idea of bitcoin and would destroy its value.

If someone wants to be able to move funds across borders in less than an hour they will want the highest possible security.

seems secure to me. it will still be backed by proof of work. the network would actually become more decentralized as more people will be able to mine it. thus more nodes.

Go mine Vertcoin or some other garden variety shitcoin if you want that

Bitcoins pow algorithm isn't asic proof or resistant. So in order for bitcoin to be mined via gpu they'd need to hard fork to an algorithm like monero is using but again that doesn't guarantee asic proof mining so gpus would become useless and the difficulty would rise to what it is now. You can mine bitcoin with gpus still but you will never ever see a profit. Best way of doing it is either nicehash mining since you get paid via bitcoin or mining other coins profitably and then exchanging then for bitcoin.

Attached: 1552030459488.jpg (600x463, 25K)

I already addressed that: See post 13079415

So to summarize. what im saying his basically:

1. dynamic blocksize based on network demand
2. a new algorythm that dynamically adjusts hash rate to prevent miner monopolization
3. dynamic block reward based on block production speed. This can be used to control inflation

Also:

4. fixed difficulty
5. fixed supply as is already the case.