Interesting!

Yeah, thermostats can be very stupid and still work, and so does Bitcoin.

overshooting and undershooting a bit is not such a big deal.

What's important is to have a mechanism that eventually will reach the target.

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yeah, a slow thermostat works well enough

adding the integral and derivative factors to the computation matter more with a high dynamic range, this is the thing about bitcoin's mining hashrate, the bigger it gets, the slower it changes, so the adjustment error % gets smaller over time