0 sats \ 1 reply \ @cleaningup12 13 Mar \ on: What is the most interesting thing about bitcoin on a technical level to you? bitcoin
Bitcoin is based on time and numbers...
So... we don't know the future in the physical world and we can't go back to the past.
But with Bitcoin satoshi invented a time machine whereby if we start at 100....I know the future, I know exactly what's gonna happen in the future...it's 101,102....
Cooked my noodle 🍜
And after satoshi reinvented time, he slowed it down and sped it up!!
When the miners are confirming the blocks, if there's a rush on bitcoin, more people are buying and selling, and the block clock starts to speed up
And if it continues to speed up, it will become too fast and the block won't be confirmed properly, and the wheels fall off and bitcoin breaks
So satoshi invented the difficulty adjustment, to slow down the miners when they are busy by making it more difficult
And when times are slow, makes it easier and speeds it up.
Mind-blowing 🚀🚀
And Bitcoin is information, not a physical object....
So if I want to trade a physical object with you versus information...
Read this quote and tell me this isn't the most profound thing you've heard this year...
'If you have an apple and I have an apple, and we exchange apples, then you and I will still each have one apple. But if you have an idea and I have an idea, and we exchange ideas, then each of us will have two ideas'
Mind-blowing
I love it 😀
There might be an edge case in which the time stops for too long.
For example, imagine a period of massive increase in difficulty given exponential growth of miners followed by a massive destruction of technology, i.e. global war, natural disaster, etc.
There is a change in difficulty, but you need to get 2016 blocks first. If you only have primitive miners, say Pentium1-level compute power, then time will be expanded into pretty much infinity
reply