[Bitcoin-ml] Difficulty adjustment

Tom Zander tomz at freedommail.ch
Tue Aug 29 15:40:05 UTC 2017

On Sunday, 27 August 2017 01:12:00 CEST Erik Beijnoff via bitcoin-ml wrote:
>  My best guess is that the miners can’t control it and that they need
> support in the form of a well thought through proposal to break the
> oscillation.

The cost has to be balanced.

The cost of a hard fork at this time, when still many wallets are adopting 
to the first hard fork, is high. Making everyone change their software now 
may be too much for BCC to bare.

The cost of the ossilation issue is purely and only inflation. As you write;
> If this would go on for 4 months,  we will have released the better part
> of the reward for 2018 when this christmas comes around. 

The cost of the BTC chain not having had its 1MB upgrade for 3 years is also 
very high, and the EDI is the best way and currently only way to get out of 
this deep hole we find outselves in, entirely due to other people’s fault.

The software update is deployed now for almost a month, the economic upgrade 
takes time. If the past month is anything to go by, the oscillation will 
stop in much less than 4 months because when BCC price gains significantly, 
the majority of hashpower will want to stay there permanently.

I initially proposed a soft fork, because that is much cheaper to roll out. 
If I had done my research I would have seen that it was a hard fork, 
apologies for that. The hard fork scenario is in my opinion too costly in 
comparison to the alternative of waiting for the market to solve this.

Tom Zander
Blog: https://zander.github.io
Vlog: https://vimeo.com/channels/tomscryptochannel

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