"It then sends the 80-byte block header to its mining hardware (an ASIC) along with a target threshold (difficulty setting)."
I've always wondered, would it be possible to make the difficulty setting dynamically determined based on some econometric derived from the bitcoin chain? (such as if you see the economies velocity slowing down, perhaps you lower the threshold) or the opposite.
If it was, that may be one way to stabilize the prices, at least of the currency itself.
I've always wondered, would it be possible to make the difficulty setting dynamically determined based on some econometric derived from the bitcoin chain? (such as if you see the economies velocity slowing down, perhaps you lower the threshold) or the opposite.
If it was, that may be one way to stabilize the prices, at least of the currency itself.