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A comment on Bitcoin hits 3-year peak, nears record high on U.S. ETF approval. Parent comment

Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by codingmyway on Friday February 24, 2017 @08:21AM (#13723367)
Asics can't be redirected to different alt coins that have a different proof of work. They will run to recoup the costs. That is why bitcoin will be more secure even if prices and transactions drop from a move to an alt.

Miners are playing a game of chicken to milk the fees while hoping users don't swerve to another chain.

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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by Retric on Friday February 24, 2017 @04:36PM (#13728149)
Some Asics can mine both Bitcoin and Lightcoin though not at the same time. From a cost perspective they are slightly more expencive, but miners could swap over 2 years to a new coin with minimal issues limiting their long term risks.
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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by colordrops on Friday February 24, 2017 @10:57AM (#13724751)
I don't see an altcoin beating out bitcoin soon, but if one started gaining traction it would probably have a proof of work system compatible with most miners' asics.
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