On Friday 14 May 2021 21:41:23 Michael Fuhrmann via bitcoin-dev wrote:
> Bitcoin should create blocks every 10 minutes in average. So why do
> miners need to mine the 9 minutes after the last block was found? It's
> not necessary.
It increases security, and is unavoidable anyway.
> Problem: How
> 1. Has anyone considered that it might be technically not possible to
> completely 'power down' mining rigs during this 'cool-down' period of time?
> While modern CPUs have power-saving modes, I am not sure about ASICs used for
> mining.
Sounds like a point to consider, note the economic
https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox
https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy
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> if energy is only expended for 10% of the same duration, this money must
now be spent on hardware.
More equipment obviously increases the total energy usage.
You correctly point out that the total expenses of a miner are not just
energy but include capital expenses for equipment and
1. Has anyone considered that it might be technically not possible to
completely 'power down' mining rigs during this 'cool-down' period of time?
While modern CPUs have power-saving modes, I am not sure about ASICs used
for mining.
2. I am not a huge data-center specialist, but it was my
[sorry if I haven't replied to the other thread on this, I get swamped
by email and don't catch them all]
This solution is workable but it seems somewhat difficult to me at this time.
The clock might be implementable on a peer network level by requiring
inclusion of a transaction that was
Hi Michael,
Your proposal won’t save any energy because it does nothing to decrease the
budget available to mine a block (being the block reward).
Even if it were technically possible to find a way for nodes to somehow
reach consensus on a hash that gets generated after 9 minutes, all it
