Quote from: jl2012 on June 16, 2012, 04:50:28 PM

Quote from: sadpandatech on June 16, 2012, 04:39:25 PM

Quote from: jl2012 on June 16, 2012, 04:38:41 PM

Wrong. The difficulty changes every 2016 blocks, not 2 weeks.

Quote from: sadpandatech on June 16, 2012, 04:04:09 PM

Quote from: Paladin69 on June 16, 2012, 04:01:59 PM

Yeah...talk about disruptive technology...lol Most of the 21 million bitcoins would be mined in no time compared to the original estimates...

the difficulty changes every 2 weeks. So unless we could online this massive amount of hash power in that timeline, difficulty will quickly increase to keep the block generation as close to 144 per day as possible.

you know what I meant.....

They are completely different. If the difficulty change is time-based, we could theoretically mine 21 million bitcoins instantly. But this is not true

As was seen at this time last year when the massive amounts of hashing power was being added the diff can/will increase 4x in 3 days not 2 weeks and will continue to do so as long as the hashing power continues to be added just like it did then for weeks in a row even after the bubble burst as they continued to pile on.