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Bitcoin Halving ~12 days away, page-20

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Lurkin

2,100 Posts.

6

07/05/20

21:36

Post #: 44499091
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Originally posted by HempCFO: ↑

You learn from cartoons? No wonder you don’t understand written arguments, or know about history.

Of course mining is economic. For large miners, millions are at stake. In 2012 for example, there were no large miners and there were no ASICS. People mined bitcoin at home. Running in the background, while they were doing other things with their computers on anyway.

Because the hash rate was low (fewer people competing for the same bitcoin reward) difficulty was low. A regular CPU on an average machine is all it took.

When big miners fail in BTC, great, difficulty goes down and millions of average people will become miners again.

Maybe you were too young in 2012 to have been there when all this was just people with desktops rather than huge mines running ASICS.

As the reward goes down the hash can go down the difficulty will go down and regular people will mine again. Scaling is not important. Nobody cares.

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Did you watch the cto Steve shadders speach bud.?
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