Re:Bitcoin Fork Monitor
by splintercell on Thursday July 20, 2017 @03:20PM
(#14815492)
So I presume that a hard fork would become economically very viable at that point.
But then you've just created a new coin that shares a bit of history with another one.
Re:Bitcoin Fork Monitor
by splintercell on Thursday July 20, 2017 @04:30PM
(#14816027)
Yes, and unless you're in the mood of arguing over
Theseus's ship paradox, with hundreds of thousands of stakeholders. Essentially this currency would become what Bitcoin is today.
For a rough idea of the scales, just look at the current reward for finding a block (12 btc) and it's current value (about $31k USD). Miners are just barely breaking even on ASICs, so a $31k miner should be able to pay for itself over it's lifetime.
So unless you have hundreds of thousands of dollars of miners, you aren't going to realistically find a block, and unless you have millions of dollars of ASICs you aren't going to be able to mine enough to keep a chain from dying on your own.