Quote:
Originally Posted by borked
As I understood it, the higher the price the harder the mathematical pb to solve hence longer time. So whether btc is 1c or $1000 the relative work stays the same. Ie as price goes up, so does the number of cpu cycles required.
Well, that's the logical way anyway.
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Bitcoin mining is independent of market price. Even though mtgox is the defacto exchange, there is no central authority controlling the release of currency. The difficulty level changes to regulate how often coins are generated, nothing to do with its USD value.