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Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by Dylan16807 on Monday December 26, 2022 @06:24PM (#34143067)
> Eh, we're saying similar things, but you're wrong in a fundamental detail - and you're making it really confusing for everyone who doesn't understand what is really going on.

Which detail?

> The rewards a miner collects do not depend solely on how often their hashes meet the difficulty target. Otherwise, every miner could keep mining prior blocks forever until they got a hash that matched, and collect the reward for that block. But that isn't allowed to happen.

Obviously you have to mine based on the current block. Nobody suggested otherwise.

It doesn't affect your odds of finding blocks because it only takes a fraction of a second to switch to the new one.

> The first miner [...] and everything on the 'split' chain gets ignored.

Nobody suggested otherwise.

> The algorithm bitcoin uses

Yes.

> There is no way any miner can change their odds here

Nobody suggested otherwise.

> (or 'try to meet the difficulty target')

That just means doing hashes and hoping you win.

> Removing half the hash power would double the chances (all other things remaining the same) of the remaining hashers winning, as there is now half the number of competitors randomly trying to get a winning hash, as the winning hashes are randomly distributed.

It changes the percent of blocks a miner wins.

It does not change the number of blocks per hour they win. And that's the only number that matters.

(Both expressed as expected averages, of course.)

> Unless someone [...] Just available hashing power.

Nobody suggested otherwise.

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by lazide on Monday December 26, 2022 @08:03PM (#34143732)
Good luck!