Quote from: R2D221 on June 06, 2014, 08:23:07 PM

Quote from: jl2012 on June 06, 2014, 10:32:02 AM

Your proposal won't work, because there is no centralized timing source.

How does that affect the scenario described?

The proposal is that mining would get easier the more time that passes with no blocks found. So when a miner submits a reduced difficulty block how do you verify that "enough" time has passed. Of course if you had provable decentralized timestamps you wouldn't need mining to begin with. Just check the timestamp of transactions and the first one is valid and the second is invalid.