📅 Original date posted:2018-01-17
📝 Original message:Bitcoin's difficulty will be maxed out within about 400 years, by
Moore's law. (After that - supposing the software does not crash when
difficulty overflows - block time will start decreasing, and it will not
take long before blocks are mined faster than photons can be sent across
the planet).
Bitcoin is the dominant cryptocurrency today, as the first mover: the
perfectly fair worldwide game of inventing the cryptocurrency has been
played and won. However, unfortunately, it has a built-in end date:
about 400 years from now. After that, it won't necessarily be clear
what the dominant cryptocurrency is. It might be a lot like VHS vs
Betamax, and a lot of people could lose a lot of money. It seems to me,
this could be mitigated by planning today for what we are going to do
when Bitcoin finally breaks 400 years from now.
Are there any distinct plans today for migrating to a PoW supporting an
even higher difficulty?
Jefferson Carpenter [ARCHIVE] /
npub1fp…laext
2023-06-07 18:09:51
in reply to nevent1q…l25p
Author Public Key
npub1fplfq7ze5a0ry9pmx2kv79nm25u27ve84l887wxjnsl5quy7ndjsclaextPublished at
2023-06-07 18:09:51Event JSON
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"content": "📅 Original date posted:2018-01-17\n📝 Original message:Bitcoin's difficulty will be maxed out within about 400 years, by \nMoore's law. (After that - supposing the software does not crash when \ndifficulty overflows - block time will start decreasing, and it will not \ntake long before blocks are mined faster than photons can be sent across \nthe planet).\n\nBitcoin is the dominant cryptocurrency today, as the first mover: the \nperfectly fair worldwide game of inventing the cryptocurrency has been \nplayed and won. However, unfortunately, it has a built-in end date: \nabout 400 years from now. After that, it won't necessarily be clear \nwhat the dominant cryptocurrency is. It might be a lot like VHS vs \nBetamax, and a lot of people could lose a lot of money. It seems to me, \nthis could be mitigated by planning today for what we are going to do \nwhen Bitcoin finally breaks 400 years from now.\n\nAre there any distinct plans today for migrating to a PoW supporting an \neven higher difficulty?",
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}