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I like the math and theory on this. But really why would someone who's making millions on the status quo risk tanking the market for a one time gain? Seems unli
by jVinc 9y ago
I like the math and theory on this. But really why would someone who's making millions on the status quo risk tanking the market for a one time gain? Seems unlikely.
- yourrng 9y agoYou don't have to risk anything. If the trend continues, at some point one would be able to rent the mining power required. On top of it, if you are a small miner, and you can't afford capital investments required to keep up with latest mining hardware, while loosing market share, you can use your soon-osolete hardware to make a one last buck. A big buck this time.
- xiphias 9y agoAt this point 5-10% of hash rate is a huge cost in mining hardware (maybe hundreds of millions). Also the hardware improvements already slowed down a lot. Antminer S9 is more than a year old. I wouldn't risk decreasing the BTC price by attacking BCH.
- soared 9y agoAny organization/individual/government who has enough money that they aren't interested in cashing out and is also interested in medium/large scale economic disruption. China, Russia, UAE, USA, sci-fi terrorists, evil villains, illuminati etc. (I'm only mostly joking)
- SAI_Peregrinus 9y agoOne possibility would be to keep up and coming competitor currencies from gaining a foothold. The big ASIC mining farms bitcoin has won't work with some of the smaller currencies. The organizations running them have a lot of money, and don't necessarily want to see competition from less centralized mining. Destroying trust in a currency by executing a double spend attack on it could be one way to prevent that.