Topic: running bitcoin software second time. (Read 96 times)
Not sure why you need to imagine it when what you describe already happened. So many people run Bitcoin software nowadays, or mine in many different mining rigs. What happen then? Basically more competition if you're talking about mining, and more decentralization if you're referring to nodes. If you want to know how the network split, maybe you should refer to hardfork and how it happened in the past.
-snip-
If both instances began mining and purchasing Bitcoin from the current stage, what potential implications, challenges, or opportunities could arise from this novel experiment?
No need to discuss software, both activities are to get bitcoins right? Buying bitcoins only takes a few moments say 15 minutes, it doesn't interfere with mining at all which (I think) is a passive activity.If both instances began mining and purchasing Bitcoin from the current stage, what potential implications, challenges, or opportunities could arise from this novel experiment?
Or let's say you have a mining farm where you can earn more bitcoins than the average miner. Now you sell bitcoins from mining to buy back those bitcoins, no way.
Did I catch your point about someone running two of the same activities/softwares?
Imagine running two instances of Bitcoin software concurrently on different machine in the present day, just as satoshi did first time when starting the network. If both instances began mining and purchasing Bitcoin from the current stage, what potential implications, challenges, or opportunities could arise from this novel experiment?
Nothing. Running multiple miners or running multiple bitcoin core software is not an experiment. On the positive side, it will only make bitcoin network more secured, as running bitcoin core is equivalent of creating node, and the more bitcoin nodes make the bitcoin network strong and secured. 
Imagine running two instances of Bitcoin software concurrently on different machine in the present day, just as satoshi did first time when starting the network. If both instances began mining and purchasing Bitcoin from the current stage, what potential implications, challenges, or opportunities could arise from this novel experiment?
Mining Competition: The two instances would compete to solve blocks and obtain rewards, potentially increasing the mining difficulty for both networks.
Distribution of Computing Power: Two separate networks could distribute computing power differently than the current network Bitcoin, affecting centralization or decentralization.
Diversification of transactions: Transactions could be processed on two separate networks, leading to a division of assets and liquidity.
If I understand correctly what you mean by the concept of "two separate instances"
The Bitcoin wallet can’t mine Bitcoin anymore. This functionality has been removed ever since GPUs or ASICS entered the market almost a decade ago.
Some of the other sha256d algo coins using the same wallet actually still have the mining function. However mining with the wallet is not efficient. You are better off using a dedicated CPU miner and just use your wallet software as the daemon.
Either way. This is impossible these days with bitcoin or any other sha256d Coin due to the sheer amount of available hash power out there.
Some of the other sha256d algo coins using the same wallet actually still have the mining function. However mining with the wallet is not efficient. You are better off using a dedicated CPU miner and just use your wallet software as the daemon.
Either way. This is impossible these days with bitcoin or any other sha256d Coin due to the sheer amount of available hash power out there.
Imagine running two instances of Bitcoin software concurrently on different machine in the present day, just as satoshi did first time when starting the network. If both instances began mining and purchasing Bitcoin from the current stage, what potential implications, challenges, or opportunities could arise from this novel experiment?
Mining Bitcoin and trying to get if from block rewards, transaction fees is hard if you don't have enough big hashrate and get good reward proportion from a mining pool.Purchasing Bitcoin is not related to Bitcoin mining and you can buy it with your capital on either centralized exchanges or decentralized exchanges. I don't know what you want to say here but if you can run a Bitcoin full node, and use it to store your bitcoin, and make transactions, it is good for your privacy and security.
Running a Bitcoin full node is different than Bitcoin mining too. You can run a full node while you don't join Bitcoin mining. Bitcoin nodes validate transactions. Bitcoin miners confirm transactions.
I didn't understand what you really mean by challenges or opportunities? First of all concurrently running "different *" instances of Bitcoin software would not result anything strange, keeping the current mining difficulty since you won't be generating any blocks any soon 
Lets suppose still you if your both instances are able to generate different blocks concurrently it will simply result into a network split that means two version of blockchain and I'm sure know what happens if two blockchains compete.
* Different, I'm sure by different you mean same version of bitcoin software but two instances.
Lets suppose still you if your both instances are able to generate different blocks concurrently it will simply result into a network split that means two version of blockchain and I'm sure know what happens if two blockchains compete.
* Different, I'm sure by different you mean same version of bitcoin software but two instances.
Imagine running two instances of Bitcoin software concurrently on different machine in the present day, just as satoshi did first time when starting the network. If both instances began mining and purchasing Bitcoin from the current stage, what potential implications, challenges, or opportunities could arise from this novel experiment?
Jump to: