Hi Michael,
Your proposal won’t save any energy because it does nothing to decrease the
budget available to mine a block (being the block reward).
Even if it were technically possible to find a way for nodes to somehow
reach consensus on a hash that gets generated after 9 minutes, all it
achieves
[sorry if I haven't replied to the other thread on this, I get swamped
by email and don't catch them all]
This solution is workable but it seems somewhat difficult to me at this time.
The clock might be implementable on a peer network level by requiring
inclusion of a transaction that was broadca
1. Has anyone considered that it might be technically not possible to
completely 'power down' mining rigs during this 'cool-down' period of time?
While modern CPUs have power-saving modes, I am not sure about ASICs used
for mining.
2. I am not a huge data-center specialist, but it was my understan
> if energy is only expended for 10% of the same duration, this money must
now be spent on hardware.
More equipment obviously increases the total energy usage.
You correctly point out that the total expenses of a miner are not just
energy but include capital expenses for equipment and operational
https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox
https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy
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> 1. Has anyone considered that it might be technically not possible to
> completely 'power down' mining rigs during this 'cool-down' period of time?
> While modern CPUs have power-saving modes, I am not sure about ASICs used for
> mining.
Sounds like a point to consider, note the economic pres
On Friday 14 May 2021 21:41:23 Michael Fuhrmann via bitcoin-dev wrote:
> Bitcoin should create blocks every 10 minutes in average. So why do
> miners need to mine the 9 minutes after the last block was found? It's
> not necessary.
It increases security, and is unavoidable anyway.
> Problem: How t
