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BTC Lover
npub19wyw...t6vl
I love bitcoin. It solves the problem of infinite money printing.
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btclover 4 hours ago
#BIP110 idea for survival. No change to sha256. Block time will be from its header. Adjust difficulty if daily mined blocks are less than 72 with max reduction of 75%. 51% attack is not feasible as coin has less value and attack can’t continue longer if price rises. Love you #Bitcoin.
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btclover 3 days ago
Why I think blake2b will convert bitcoin into shitcoin? * Hash rate will not be able come back from legacy chain. * Code difference will become so huge that perception will that it is an altcoin. * it is against software engineering principles, which says a module is open for extension, closed for modification. * it will delay the movement and eventually help altcoiner which have the equipment.
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btclover 3 days ago
Current Bitcoin Scenario resembles with real world example. Bitcoin = Restaurant Nodes = Owners Miners = Managers & Employees Blocks = Customers Subsidy & Fees = Revenue Transactions = Food Lower Difficulty = Incentive Two owners of the restaurant are in conflict which food to serve on the menu. Richer investor took his share and enjoying his junk food. Other investors are thinking what should we do with our capital because we don’t have employees and managers. We can offer them incentives to hire back.
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btclover 3 days ago
Emergency Difficulty adjustment: new = old * blockmined / blockexpected (with maximum of 75% drop) Hash rate will drop but Bitcoin110 has no value yet because it is not listed in exchange and only #BIP110 people understand it’s value, so only 15-20% node runner will come to mine with rented hash or something. The hash rate which comes on this chain will slow down corev30 chain, price of that chain will drop and this chain will be listed in exchanges. As price rises, hash rate rises, difficulty rises. Everybody is happy. Miner learn a lesson that node runners can ruin them.
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btclover 3 days ago
Following is what we can do to keep BIP110 relevant: 1. Introduce emergency difficulty adjustment which will only trigger if block take more than one day to mine. formula: Dnew​ = Dcurrent ​× Bmined​ / Bexpected​ ​ 2. Target is that if one block comes daily, hash rate will come because of this incentive to mine. Honest miners have opportunity to mine on pure money chain. 3. This feature is purely temporary as long as next difficulty comes. 4. Hash rate from Core Chain will come and we will have to list BitcoinBIP110 on exchanges to price skyrocket. As price skyrockets, hash rate will come.
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btclover 3 days ago
* Do you know why BIP110 has only 0.15% hash? Because there is no incentive for dedicated miners, they go to a controlled chain only because there is no competition. * Can we compare Emergency Difficulty Adjustment of BIP110 with EDA of BCash? No, because Bcash was industrial backed coin. BIP110 is community back. * Do you know what people think about the coin if it switch from sha256? They think that it is another shitcoin. Competition is over. * Are there any benefit of only changing EDA? yes, the change will be implemented sooner and huge community support will come. If turbulance comes, it will be felt on both sides of Bitcoin.
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btclover 3 days ago
Emergency difficulty adjustment can give new breath to #BIP110. The mechanism is to adjust only if whole world can't find a block in one day. Rarely it will work but it will take away leverage from miners. Love #Bitcoin
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btclover 3 days ago
Changing #sha256 is not the solution. Let me explain the problem. e.g. You are climbing a mountain, and there were too many people with you and you have too much time, you reach at the top. Now all of a sudden you are all alone, no friends, nothing. Now you will have to call emergency service. We need emergency reduction of difficulty. The mechanism will trigger rarely when whole world can’t mine a block in one day. Hope is the best thing right now to give to the community. Incentive to remaining miners on #BIP110 is the way forward. Hope you understand. Love #Bitcoin
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btclover 4 days ago
#Bitcoin = node + developers + miners. Bitcoin - node - developers = miners #BIP110 chain should continue with special difficulty adjustment.
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btclover 4 days ago
We just need a hardfork which will allow us to reduce difficulty adjustment, which will only trigger if a block takes more than one day to mine. This adjustment will be called emergency difficulty adjustment. #Bitcoin #BIP110 Changing #sha256 is equivalent to losing the game against miners.
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btclover 4 days ago
Do you think BIP110 need special difficulty adjustment?
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btclover 5 days ago
I am happy that BitcoinCore has part ways with Bitcoin110. We just need special difficulty adjustment which only tiggers if block is delayed by certain time period (minimum 24 hours). This is important for this part of #Bitcoin.