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Asics can't be redirected to different alt coins that have a different proof of work. They will run to recoup the costs. That is why bitcoin will be more secure
by codingmyway 10y ago
Asics can't be redirected to different alt coins that have a different proof of work. They will run to recoup the costs. That is why bitcoin will be more secure even if prices and transactions drop from a move to an alt.
Miners are playing a game of chicken to milk the fees while hoping users don't swerve to another chain.
- colordrops 10y agoI don't see an altcoin beating out bitcoin soon, but if one started gaining traction it would probably have a proof of work system compatible with most miners' asics.
- Retric 10y agoSome Asics can mine both Bitcoin and Lightcoin though not at the same time. From a cost perspective they are slightly more expencive, but miners could swap over 2 years to a new coin with minimal issues limiting their long term risks.