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That's a big problem then. That means once the block mining reward turns to zero most miners will have to cease their operation to keep themselves in the black.
by robjan 6y ago
That's a big problem then. That means once the block mining reward turns to zero most miners will have to cease their operation to keep themselves in the black. If that happens, the cost of a 50% attack significantly decreases.
- eMGm4D0zgUAVXc7 6y agoThey will sell off their equipment to the general public, which causes a lot of decentralization, and thus makes a coordinated attack more difficult.
- tylersmith 6y agoDecentralized ownership of ASICs doesn't help if they're not being used. If they are being used then there's no decrease in energy usage.
- jmhyer123 6y agoThat assumes the general public will buy it and use it which isn't likely if the incentive to do so isn't there.
- tylersmith 6y agoExactly this. If a huge industry miner can't afford to run a machine then the average crypto enthusiast can't either.
- eMGm4D0zgUAVXc7 6y agoThe general public buys much less yielding investments, they even buy lottery tickets by the millions! And we're not talking black or white here. It's not that miners suddenly will earn zero money. It will just decrease to the point where it may make sense to sell some of the equipment. That equipment might still be somewhat profitable, just not as insanely high as it is now.
- agotterer 6y agoThere's going to be an awful lot of wasted hardware and electricity before mining is complete in ~2140.
- robjan 6y agoWhy would the general public buy ASICs when they can get no utility out of them?