Bitcoin Q&A: Difficulty targeting and the "death spiral"

All signal, no noise. Great!

Wow, truly remarkable.

Thanks for explaining the current down spiral to us Bitcoin miners. It makes sense to me now why the mining diff is decreasing also, compensating the lower prices to some extent, because pools return higher rewards per mined block atm. The current diff is 5,646,403,851,534 compared to 7,404,022,615,086 at the end of October when Bitcoin crashed from 6000 to 3000 Euros.

It is impossible for me to understand.

Hey, regarding the death spiral, don't forget, miners don't get paid based on share of total global hashing power. The get paid based on how much hashing power they contribute. If mining power drops by half, blocks will be found half as often, but the miners still mining will get twice what they used to, since remaining blocks will still be shared among remaining miners.

Right on spot than all the stupid speculations out there on the death spiral. You made it clear – probability of it happening is like 0,01%.

@anntonop Difficulty re-targeting looks at last 2016th block timestamp and then difference of that with current block timestamp will get into account, Not the other way around.

on 12/03 and 12/04/2018 four whale wallets of 66k bitcoin, 2 whale wallets of 26k BTC and two of 30k BTC moved to 800 Segwit wallet addresses. A total of 378,000 bitcoin moved to 800 segwit vallets addresses. Who knows WHY?

BTC has become too big for centralized changes, it will always result in a minority fork.

9:25 what reason is there not to do difficulty retargeting every block? using a rolling 2w average or similar

I don't see why you'd want to subject yourself to the current risk, even if you consider it a small risk.

sorry I have to check what nonce, nons? are, usually you explain more clearly.

I'm very confused now… Isn't the difficulty retargeted every 2016 blocks, independent of the time it took to get there? Or recently it became time checked, independantly of blocks count? (Pretty sure it is not the case)

You're way too smart… way above my head. Make more videos making me feel better about HODLing my massive losses in crypto.

The science of cryptography Andrea Antonop get demn it right .WORTH LISTENING

At the 7 minute mark I believe you’re wrong about what you’re saying (assuming I understood what you meant). As a miner in the network it makes absolutely no difference for me if every other miner leaves the network and I’m left as the only one. Assuming a stable price per Bitcoin. The network will be a lot slower but I’ll be generating the same amount of Bitcoin as before and being equally as profitable. There’s no death spiral or anything there. Also as the blocks are slower, less transactions get confirmed and fees go higher so I actually end up making more money if other miners leave. Besides that, the sell pressure of mined bitcoins goes down so it can even have an effect to push price per Bitcoin up. So, overall, a sudden heavy decrease of hash rate in the network is actually beneficial for the remaining miners even before the next difficulty retargeting.

What will Miners do when one Day all the Bitcoins are in Lightning Channels with no more onchain Transactions.

This video exceeded my knowledge of how Bitcoin works quite a bit. Any tip where to start to understand most of it? Any video, book recommendation?

Bitcoins hash rate has dropped by 50% from Sept. 2018 till now.

The real question is, will bitcoin go to zero by the end of January 2019?

Please talk about the role of exchange as the only available option for the public to get bitcoin and their KYC policy if you did just share the link

Sell all BCH and forks for CASH and buy Bitcoin!
Time to teach these glorified versions of corrupt devs a lesson.