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33 sats \ 2 replies \ @028559d218 20 Dec \ parent \ on: Barber Shop Bitcoin Babble bitcoin
This is pretty basic. Yes it's called the difficulty adjustment. It's the entire point of mining.
No matter the hashrate or 'speed' of miners... blocks on average only arrive once every 10 minutes.
Since every 10 minutes a new block arrives (on average) and only so many blocks occur between halvings...
There are 130 years approximately of new Bitcoin creation. It has precisely zero to do with the hashrate or power of miners, that is adjustable and why there's a difficulty adjustment.
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20 sats \ 1 reply \ @Undisciplined 20 Dec
It has precisely zero to do with the hashrate or power of miners,
Not quite. A rapid plunge in computing power could radically delay the next difficulty adjustment. I don't think that's likely, but that's my understanding of how it works.
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0 sats \ 0 replies \ @Rothbardian_fanatic 20 Dec
Could a change in the basic system cause the block rate of 10 minutes to be reduced? Would these changes to the system cause faster evolution of the final halving?
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