Bitcoin's #difficulty adjustment counters #Moore's Law. It ensures the electro-computational cost of hashing remains high, no matter how fast and efficient our computers become, by increasing the hashing difficulty ad infinitum.
Bitcoin ASICs chase an ever-receding horizon. No amount of ASIC efficiency will make the Bitcoin network use less energy. This high physical cost for producing Bitcoin or updating its ledger is a core feature, not a bug. We WANT it to be too physically expensive for any centralized entity to write the ledger. That is the primary #mechanism of Bitcoin's decentralization.
The 2nd-order effects of this are also highly beneficial for humanity. #Energy producers and chipmakers are financially incentivized to find better/cheaper energy sources and more efficient computers to gain a temporary comparative advantage in hashing. The end result is more abundant energy, faster and more efficient computers, and more secure ledger. #Mining
It's a win-win-win.
Twitter | Source
⚡️ @TutorialBTC
Bitcoin ASICs chase an ever-receding horizon. No amount of ASIC efficiency will make the Bitcoin network use less energy. This high physical cost for producing Bitcoin or updating its ledger is a core feature, not a bug. We WANT it to be too physically expensive for any centralized entity to write the ledger. That is the primary #mechanism of Bitcoin's decentralization.
The 2nd-order effects of this are also highly beneficial for humanity. #Energy producers and chipmakers are financially incentivized to find better/cheaper energy sources and more efficient computers to gain a temporary comparative advantage in hashing. The end result is more abundant energy, faster and more efficient computers, and more secure ledger. #Mining
It's a win-win-win.
Twitter | Source
⚡️ @TutorialBTC
#JUSTIN: Bitcoin #mining #difficulty sets a new all-time high above 136 TRILLION
#Network is stronger than ever.
🔹 Dificuldade da Rede Bitcoin: Regula, a cada 2 semanas, a competição entre os mineradores (Máquinas computacionais avançados) para decifrar o cálculo matemático do próximo bloco/10min.
Indicadores:
- bitrawr.com/difficulty-estimator
- bitinfocharts.com/comparison/bitcoin-difficulty.html
- insights.braiins.com/en/
- mempool.space/graphs/mining/hashrate-difficulty#1y
#StudyBitcoin@TutorialBTC
#Network is stronger than ever.
🔹 Dificuldade da Rede Bitcoin: Regula, a cada 2 semanas, a competição entre os mineradores (Máquinas computacionais avançados) para decifrar o cálculo matemático do próximo bloco/10min.
Indicadores:
- bitrawr.com/difficulty-estimator
- bitinfocharts.com/comparison/bitcoin-difficulty.html
- insights.braiins.com/en/
- mempool.space/graphs/mining/hashrate-difficulty#1y
#StudyBitcoin@TutorialBTC