Post
Topic
Board Bitcoin Discussion
Re: Only 21.000.000 Bitcoins in existance
by
richardsNY
on 09/02/2018, 00:02:38 UTC
Or would the chain change difficulty to accustomed the new mining computers?
But that'll take 2 weeks. Most other coins update difficulty every block. BitCoin takes 2 weeks right?

Bitcoin indeed needs around 14 days (2016 blocks) to adjust the difficulty. After the adjustment the network will more and more operate on a normal level again. It has already happened with some of the forks we experienced. Due to the massive difference in difficulty and actual network power, confirmations were taking ages to come through, till the difficulty adjusted itself accordingly, and the block times recovered. Another thing to point out is how miners are playing with Bitcoin in the last months. The constant major jumps in difficulty lead to block times being pushed closer to the 14-15 minute level, while it normally should be closer to the 10 minute level. It's a nasty game being played.