Topic: Bitcoin2 (coin every 5 minutes?) (Read 522 times)
At any time there is only X amount of computer power available. If everybody is working on Bitcoin2 who is going to maintain Bitcoin1? Entropy Happens! What if maintaining Bitcoin1 costs more than the market value of Bitcoin1? Hopefully you traded in all your Bitcoin1 for Bitcoin2. And down the rabbit hole. The cycles would seem to be shortening geometrically. If it's true for n and it's true for n+1, then you got a problem. Bitcoin3, anyone? A coin every minute.
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there are enough alts that it doesnt even matter if it happens.
Bitcoin doesn't NEED to be replaced but if you're sitting there with a super-computer designed for mining and the last bitcoin just got mined, what are you going to do, scrap it? Bitcoin2 will look pretty attractive. Actually it looks pretty attractive right now. Early adopters are the ones who can make the big bucks. Remember Bitcoins at $12?
Mining btc never ending
Bitcoin doesn't need to be replaced after that time.
Of course Bitcoin2 may not come about until Bitcoin1 is mined out (2140?) But if you had 100 super-duper machines in Iceland or somewhere, wouldn't you rather mine a Bitcoin2 every 5 minutes (I'll just change the algorithm a wee bit) instead of Bitcoin1 every 10 minutes? The cost of entry into this arena is essentially zero dollars. Bitcoin2 will have higher appreciation in the beginning so it will be quite attractive. But if it happens now, what happens to Bitcoin1?
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