Difficulty Bomb in Late September?

Miner8472Miner8472 Posts: 56Member
How does this affect mining if this is true? It was announced on a website.

When does this mean proof of stake will occur?

Mining is so much more difficult now. How long do we have left?

Comments

  • BitsBeTrippinBitsBeTrippin Posts: 56Member
    If you're referring to cointelegraph incorrect article ... We posted a reply:

    This article needs to be corrected. It actually is delaying the current difficulty bomb that has been active on the network since May. This should put 'difficulty' back and predicated on network hash mining power. This will allow for the network to retarget block times back down to near 15 seconds. In addition they are looking to reduce the total token inflation by reducing the current block distribution of 4.95 ethereum per block to somewhere around 3 ethereum per block/ effectively like a 'bitcoin' halving.

    I would anticipate 'ALL' Miners and subsequent pools would target/flag for the proposed upgrade as it puts the mining back on network total hash power predicated difficulty adjustment vs. the artificial increase of the difficulty bomb. In that case, the chain should not split as all the of the mining power should follow the fork.

    BBT welcomes this change, while the reduction of coins could mean less output, the one strong use case against that is with Bitcoin. Upon each reduction were huge price increases. Dynamics of Supply and Demand seemingly continue to work agnostic to political, technical and personal motives. A network with clear and concise roadmap of change, understanding of the rules and participates will figure out the best way to play the proverbial game. Change the rules mid game without laying out a basic roadmap and people lose confidence. This change has been documented, discussed and planned. We understand what to expect and are ready to help get the message out.
  • Miner8472Miner8472 Posts: 56Member
    That was the one I was referring to for sure. Thanks for the reply.
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