Steve on Nostr: Coincidence? Thoughtfulness? Satoshi decided that blocks should be added to the ...
Coincidence? Thoughtfulness?
Satoshi decided that blocks should be added to the timechain every ~10 minutes. That’s 144 blocks per 24 hour day. After 14 days, on average, 2016 blocks are added to the global timechain.
After each addition of 2016 blocks, Bitcoin’s famous “difficulty adjustment” occurs. This important adjustment ensures that no government, no corporation, no cabal of Bitcoin miners can steal everyone’s value by suddenly adding massive hashpower to the network, minting huge numbers of blocks, and effectively stealing value from all the other users of the network.
By contrast, FDR’s executive order 6102 stole gold from American holders of gold.
6102.
2016.
One of those is backwards. The other honest, truthful, and forwards.
Interesting.
Satoshi decided that blocks should be added to the timechain every ~10 minutes. That’s 144 blocks per 24 hour day. After 14 days, on average, 2016 blocks are added to the global timechain.
After each addition of 2016 blocks, Bitcoin’s famous “difficulty adjustment” occurs. This important adjustment ensures that no government, no corporation, no cabal of Bitcoin miners can steal everyone’s value by suddenly adding massive hashpower to the network, minting huge numbers of blocks, and effectively stealing value from all the other users of the network.
By contrast, FDR’s executive order 6102 stole gold from American holders of gold.
6102.
2016.
One of those is backwards. The other honest, truthful, and forwards.
Interesting.