[Chugalug] ButterFly ASIC Single arrived -- My review

Lynn Dixon boodaddy at gmail.com
Tue Sep 3 19:18:04 UTC 2013

Dan, exactly.  Maybe I did a poor job of explaining it.  After 2000 blocks
the network evaluates the time it took to hash those blocks.  If it
generated more than the targeted 6 blocks per hour, then the hash
difficulty is increased as an efford to make it 'harder" for the network as
a whole to "guess" the hash. Currently the reward for finding a block is 25
BTC.  This reward decreases with time.  The larger the difficulty, the
longer it will take a machine to guess the hash.
The blocks per hour rate never changes, the network will adjust difficulty
to always maintain 6 blocks per hour.

On Tue, Sep 3, 2013 at 2:36 PM, Dan Lyke <danlyke at flutterby.com> wrote:

> On Tue, Sep 3, 2013 at 10:46 AM, Lynn Dixon <boodaddy at gmail.com> wrote:
> > The supply of bitcoins is controlled by the network to maintain 6 blocks
> > per hour.
> I think I understand blocks vs coins differently. The block supply is
> moderated by the network to handle latency issues, so that processors
> aren't working on the same problem over and over again, but the coin
> supply is moderated by mathematics.
> When block latency is adjusted, what's being changed is how much
> computation information is transmitted in a block, not how many hashes
> per hour the machines are evaluating.
> ie: Hook a gazillion machines up suddenly and even though your
> blocks-per-hour rate gets adjusted down, the number of hashes
> evaluated goes way way up.
> Of course having those gazillion machines then becomes a liability,
> because if the block rate is limited to 6 per hour, there's a much
> higher chance you're repeating calculations done by other machines...
> Dan
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