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> The power footprint of miners is easy to find. it could be shut down probably overnight. This only works for single large-scale miners after you raided all f
by frankenst1 6y ago
> The power footprint of miners is easy to find. it could be shut down probably overnight.
This only works for single large-scale miners after you raided all factories/households with above average energy consumption. Many small miners would continue to mine from home (with average energy consumption levels) while collaborating in a global mining pool.
- BobbyJo 6y agoSure, but then you've dramatically reduced the scale at which it can operate, which makes it way less viable than now.
- frankenst1 6y agoThere is no reduction, you can't even distinguish a large-scale single miner from a mining pool with thousands of at home miners.
- BobbyJo 6y agoMost of the hash power is currently contributed by large scale miners. Shutting just them down would cripple thing considerably. Then they could go after the methods of organizing pools, but I suspect that wouldn't be necessary. For large economies, just saying it's illegal without enforcing anything at all would be massive blow, since blockchains' only current use case is speculation. If the the US government said tomorrow 'bitcoin is illegal' the price would crash to the point that mining no longer even made financial sense.
- bingbong70 6y agoMy understanding is that bitcoin trading increases when governments ban it...Streisand and a few other effects at work here.
- frankenst1 6y ago> Shutting just them down would cripple thing considerably. Not really, Bitcoin accounts for a reduction in hashrate by adjusting the mining difficulty every 2015 blocks (~2 weeks). > Then they could go after the methods of organizing pools, but I suspect that wouldn't be necessary. Not possible if they are organized via secured networks like TOR.