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The hash rate for all the other projects beside Ethereum is minuscule. Sure, some of it will move to other currencies, but my guess would be it won't be anywhe
by andreaorru 6y ago
The hash rate for all the other projects beside Ethereum is minuscule.
Sure, some of it will move to other currencies, but my guess would be it won't be anywhere near 100% as you're suggesting.
- 0-_-0 6y agoWhy is the current hashrate relevant? The market will readjust to changes in hashrate.
- andreaorru 6y agoIt is relevant because I don't think the rest of the projects will end up absorbing all of Ethereum's hashrate. First of all, some of the current miners will sell their hardware and stake ETH instead, becoming validators. Secondly, I tend to think there'll be a mass extinction event, where most useless projects will eventually die off. You can mine all you want, but if there's no real utility in yet another PoW project (and there isn't), you won't be able to sell the coins at a price that justifies running the operation.