Quote from: Xynerise on March 23, 2018, 09:00:36 PM

Quote from: lugospod on March 23, 2018, 08:03:40 PM

maybe I didn't explain good enough... I meant that difficulty X is being adjust so that we have a block etc. every ten minutes... I understand that... but when ALL bitcoins are mined.. blocks still need to be created so that miners can put transactions in them... those blocks, again, have to get a name...that "name" is the result of the mining process... but if "naming" of the block is still "difficult" (costing too much energy or CPU cycles) then the price for transaction fees must be very high so that ex miners would still have incentive to "package" transactions... right or wrong?

1.) Reducing the difficulty exponentially makes it easier to find blocks. Ironically that actually increases the probability of forks since with a lowered difficulty it is easier to find blocks.

2.). The high difficulty of the bitcoin blockchain is a result of its massive hashrate.
This actually secures the network by making it hard for an attacker to rewrite the chain.

So if the difficulty is consistently low (compared to what it is now) it means that the hashrate of the network isn't nearly as high which means it'll be easier to attack the blockchain.

3.) There are plans for secondary off chain solutions like the Lightning Network which removes many transactions from the base layer so there are less transaction fees overall.

4.) The distribution of bitcoin supply is not expected to end until 2140, so there's still more than a hundred years to figure something out. A lot will have changed by then.

1 & 2 was exactly what I was "thinking"... but as you said, who know what will happen by 2140.

thank you once again! i will check the impact of lightning network now...