What if Bitcoin went to zero?

Post by CryptoPunk » Mon, Sep 06, 2021, 5:09 AM UTC

strogonoff wrote: post #26

CryptoPunk wrote: post #20

Earlier quoted context omitted.

Bitcoin mining hasn't relied on graphics cards in years. SHA2 calculations are highly amenable to ASIC speedups, so ASICs took over Bitcoin mining pretty early in its history.

I didn’t downvote you, but your point does not necessarily invalidate the point you responded to. The whale of cryptocurrencies more or less props up all of the smaller coins, which are relying on GPUs and even SSDs/HDDs in mining. It goes down, they could lose enough of value to suffer their own runaway effects, and crashes will make PC gaming and computing overall much more affordable.

Post by ashwagary » Tue, Sep 07, 2021, 2:43 PM UTC

shapefrog wrote: post #82

ashwagary wrote: post #78

Earlier quoted context omitted.

So you think the chain will be attacked and all the devs with trillions invested (at that point in the future) will be completely blindsided and not defend the network by soft/hardforking/etc? I completely disagree.

Your reply reads like a 'complete agreement' rather than a disagreement - as at that point in time you suggest, the chain ... will no longer be in its current form. So yes, I completely agree with your agreement.