>Also not sure how BTC becomes less efficient by design.
one of the major key principles behind bitcoin is that the hashing becomes more difficult over time.
hardware can't constantly keep parity with difficulty.
one of the major key principles behind bitcoin is that the hashing becomes more difficult over time.
hardware can't constantly keep parity with difficulty.
Now, there has been a strong positive correlation between time and total network hashrate, so for all practical purposes, difficulty has (and likely will continue to) increase over time.
That said, if half of all miners went offline overnight, block times would approximately double, and the next difficulty rebalabce would go dramatically lower in an effort to maintain 20 minute block times.