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15:01 < dongcarl> sipa: For countersign, it would seem that the only difference from what you presentd and the gist is the multi-key version?
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15:02 < dongcarl> When you presented we also didn't concat the shared secret in the hash but I'm guessing that's just simplification instead of an actual change
15:03 < sipa> dongcarl: yeah, include the session into every hash, always, because why not
15:03 < sipa> eh, there are probably a few things i skipped; there should be more differences
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18:18 < yanmaani> What are the odds of mining stopping post-halving? Is there any data?
18:38 < sipa> "stopping" ?
18:42 < DeanWeen> hashrate seems to at least stay the same if not go up around halvenings and shortly thereafter in the past: https://miro.medium.com/max/4190/1*YvqgE9q1UBOKT_rPAFH4Ew.png
18:43 < DeanWeen> via https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
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19:03 < DeanWeen> I saw some retail electricity calculations by country last in Feb 2018: https://www.elitefixtures.com/blog/post/2683/bitcoin-mining-costs-by-country/ ... So that's how much it cost then for the average person to mine.  Since then the hashrate has quadrupled and maybe 1 or 2 newer generation of miners has been sold to the market participants.  I'm not sure what that means for efficiency vs older mining equipment, but if efficiency
19:03 < DeanWeen> doubled since then, and it became 4x harder to mine, it still costs the average chinese person 2x $3000 to mine a coin.  If big miners get electricity for half of that, it still costs them 3k to mine a coin right now.  No idea if these numbers are correct guesses, but there seems to be somewhat of a natural theoretical floor for the cost of producing bitcoin when the network is at a given hashrate.  In economic theory, marginal cost
19:03 < DeanWeen> tends to equal marginal revenue, so I might venture that it will usually cost $PRICE_OF_BITCOIN to mine one.  But also economic calculation begins with demand, so only if people have a use for and increase demand for bitcoin can the price rise.
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--- Log closed Thu Mar 19 00:00:27 2020