When someone says:
โBitcoin uses too much energyโ
what they are really saying is..
โBitcoin is too secure, too hard to attack, and is too decentralized to controlโ
Energy consumption IS the point.
Difficulty adjustment is as follows:
New Target = Old Target โข (Actual time/ Expected time)
Important to note that it can only be adjusted up and down by a factor of 4.
If (Actual/Expected) > 4 then (NewTarget=OldTargetโข4)
If (Actual/Expected) < 1/4 then (NewTarget=OldTarget โข1/4)
Basically this means no matter what the world does - bitcoin is designed to adjust to keep the blocks at 10 minutes per.
