Re:Bitcoin – Potential Network Disruption on July 31st
by sp332 on Thursday July 13, 2017 @10:21AM
(#14761451)
That's right, the reward for mining a block doesn't change just because you put more effort into it, and the difficulty adjusts to keep the rate approximately the same over time. The only reason it takes so much power to mine is there are so many people competing for the same limited prize.
It's colossal because of the sliding difficulty. The block period is a big portion of why the transaction rate is what it is.