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Can even 1 ASIC card owner mine enough next few blocks?
by splintercell 9y ago
Can even 1 ASIC card owner mine enough next few blocks?
- Klathmon 9y agoI seriously doubt it. It might be able to get one at some point, but almost definately not multiple. For a rough idea of the scales, just look at the current reward for finding a block (12 btc) and it's current value (about $31k USD). Miners are just barely breaking even on ASICs, so a $31k miner should be able to pay for itself over it's lifetime. So unless you have hundreds of thousands of dollars of miners, you aren't going to realistically find a block, and unless you have millions of dollars of ASICs you aren't going to be able to mine enough to keep a chain from dying on your own.
- splintercell 9y agoSo I presume that a hard fork would become economically very viable at that point.
- Klathmon 9y agoBut then you've just created a new coin that shares a bit of history with another one.
- splintercell 9y agoYes, and unless you're in the mood of arguing over Theseus's ship paradox, with hundreds of thousands of stakeholders. Essentially this currency would become what Bitcoin is today.