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jbssm | 10 years ago

HTTPS encryption doesn't get more difficult to compute as time goes by.

HTTPS is the means to an end, bitcoin is just wasting resources.

If the point was just to maintain the blockchain integrity there would be no need to make its difficulty ever increasing.

discuss

order

cyphar|10 years ago

> HTTPS is the means to an end, bitcoin is just wasting resources.

Bitcoins is also a means to an end, you just don't seem to understand what the end is.

> If the point was just to maintain the blockchain integrity there would be no need to make its difficulty ever increasing.

This is incorrect. The blockchain requires miners to establish an unbiased ledger history. The difficulty parameter is tweaked so that the whole system can be future proofed against an adversary creating a convincing blockchain history (which was biased to double-spending or retracting a transaction).

jbssm|10 years ago

> This is incorrect. The blockchain requires miners to establish an unbiased ledger history. The difficulty parameter is tweaked so that the whole system can be future proofed against an adversary creating a convincing blockchain history (which was biased to double-spending or retracting a transaction).

What was the excuse in the early days of bitcoin then when the difficulty was orders of magnitude lower?

Difficulty is ever increasing just because of the financial model bitcoin tries to propagate. The author of bitcoin wanted to make it deflational and so it had to be this way.

That part has nothing to do with the integrity of the blockchain and you are mixing two concepts here: Blockchain, which was a great invention and bitcoin, a financial experience (nothing against experiences from my part) which turned out to be a waste of resources.

mrb|10 years ago

The difficulty does not NEED to be ever increasing. In fact there are periods of time where the difficulty is pretty stable, such as mid-2011 to early 2013, or the first half of 2015: http://bitcoin.sipa.be/speed-ever.png

splintercell|10 years ago

> bitcoin is just wasting resources. If the point was just to maintain the blockchain integrity there would be no need to make its difficulty ever increasing. <

Higher difficulty don't waste any more resources than lower difficulty.