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That's the thing - this is not a traditional market but it is possible to 'crash' the difficulty. If enough of these things show up globally they can make minin
by STRML 14y ago
That's the thing - this is not a traditional market but it is possible to 'crash' the difficulty. If enough of these things show up globally they can make mining so difficult for everyone else that they will have to give up.
This is a very unhealthy thing for the BTC market in general as only a few players will have the ASICs to mine profitably, and everyone else will be spending far too much per kW to do any mining at all.
One of the weaknesses of BTC, as far as I understand, is that anyone with a majority of the global hashing power can rewrite new transactions on the blockchain. If regular GPU miners give up and a few players spin up some massive ASICs, we may very well see this become a reality.