Topic: What will happen if Tech Giants get into Bitcoin or Altcoin Mining? (Read 2209 times)
December 18, 2016, 05:49:20 AM
I do not see the tech giants to enter mining but the possibility of getting involved in bitcoin or altcoin in a different role is a big posssibility and still there are untapped business opportunities in the crypto currency sector and these giant corporates will be eyeing for an entry in the near future.
December 18, 2016, 05:45:47 AM
If the big tech giants are to enter mining they will definitely be the power house of mining with millions of bank roll they would get but they will analyze the possibility of cost versus profit percentage before investing into something like mining.
December 17, 2016, 02:23:51 PM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
I think that big tech would just pay founders of new coins royalty to make wallets that have their logo or ads in them thats next I think. Good topic 
December 17, 2016, 02:12:11 PM
Would be great as they could develop cheaper miners for us, but all i remember about those giants companies is that they like the power and the control, soo joining bitcoin mining would have a hiden purpose to take control over it, and its something we dont need to bitcoin, someone with 70-80% of all bitcoins, manipulating the price anytime.
December 17, 2016, 11:07:14 AM
I don't think that tech giants would go into mining bitcoins. I suppose from their point of view it's not profitable enough.
What I can imagine is that they might create an altoin of their own and implement it as a part of their payment system.
For such a coin there are big chances that it could remove bitcoin as number one crypto-currency in a relatively short time.
What I can imagine is that they might create an altoin of their own and implement it as a part of their payment system.
For such a coin there are big chances that it could remove bitcoin as number one crypto-currency in a relatively short time.
December 17, 2016, 10:53:04 AM
In my opinion, their business model and IT infrastructure would not be ideally suitable for Bitcoin mining. Their computers and servers and
data farms are currently geared for other tasks. {not hashing Bitcoin algorithms} A government researcher once tried to use the super
computers to mine some bitcoins and only managed to mine about 16 bitcoins. http://www.businessinsider.com/researcher-bitcoin-supercomputers-2014-6
data farms are currently geared for other tasks. {not hashing Bitcoin algorithms} A government researcher once tried to use the super
computers to mine some bitcoins and only managed to mine about 16 bitcoins. http://www.businessinsider.com/researcher-bitcoin-supercomputers-2014-6
December 17, 2016, 10:45:49 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
A lot of the hash percentage will be keeping by the big companies, they can do anything like manipulating the price. I will be expecting about 51% attack.
http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do
December 17, 2016, 10:31:07 AM
Right now bitcoin is only being mined by small companies that can't afford a huge tech to increase their mining speed so the more the bitcoin gets harder to mine the more power it is gonna need and the more price it is gonna cost , however in china there are dedicated servers and companies that are specifically made for mining bitcoin and that explains why it has the largest portion of hash power, so if by any mean the big world companies like Google or Amazon or any other large company get into the world of bitcoin mining they will dominate the market and the bitcoin will became much easier to get.
December 17, 2016, 09:57:03 AM
Bitcoin mining won't be profitable to anyone without few PH/s of power. Only tech giants will be able to afford such kind of hardware and maintenance cost. So if these tech giants get in to bitcoin mining, then they will get a major share in to bitcoin within a very short period of time. Also in the other hand the bitcoin market cap will be increased and the price will follow suit. The general bitcoin users will be benefited.
If they get in to altcoin mining, it will again help to stebilize the price of of that particular altcoins. Specially ETH or Monero. Similar way, the price of these altcoins will be increased as the public trust will be increased for them. Overall, I don't see any downside of it.
If they get in to altcoin mining, it will again help to stebilize the price of of that particular altcoins. Specially ETH or Monero. Similar way, the price of these altcoins will be increased as the public trust will be increased for them. Overall, I don't see any downside of it.
December 17, 2016, 09:22:30 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
Altcoin mining would only make sense for them if they create their own token.They will not mine any other already existing altcoin.
In terms of Bitcoin if that would happen you may see some boost in hashrate and price as this would signal the big tech giants give Bitcoin a serious try.I can not see them trying to attack Bitcoin if you mean that with mining.Expect them to create their own shitcoin scams.
December 17, 2016, 09:19:12 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
It is good bitcoins will be more popular and the bitcoin's price will going up if they make investing into bitcoin business,But if they make investing on altcoins mining the of altcoins will be increase too.
For altcoins mining depend on to what are the coins be mined and not all of altcoins will be increasing.
December 17, 2016, 09:16:34 AM
companies like Google are too big to even see bitcoin mining as a viable option. Google alone is worth $527 billion dollars! miners are earning peanuts compared to that
and besides these companies are mostly offering some service or product, if they want profit they will do that with bitcoin for example we may see Microsoft make a bitcoin wallet and release it with windows next version when you can buy bitcoin directly through microsoft and pay them fee.
and besides these companies are mostly offering some service or product, if they want profit they will do that with bitcoin for example we may see Microsoft make a bitcoin wallet and release it with windows next version when you can buy bitcoin directly through microsoft and pay them fee.
December 17, 2016, 09:07:05 AM
Would probably mean there would be more competition and more miners being produced at a lower cost for all of us which is a win win 
But small individual miners cannot compete with these giants and eventually these giants will take over all mining, form a cartel and dictate the transaction fee.Big giants are also under government contol and will oblige government agencies to influence bitcoin technology
December 17, 2016, 06:29:46 AM
Would probably mean there would be more competition and more miners being produced at a lower cost for all of us which is a win win
But small individual miners cannot compete with these giants and eventually these giants will take over all mining, form a cartel and dictate the transaction fee.Big giants are also under government contol and will oblige government agencies to influence bitcoin technology
December 17, 2016, 05:27:37 AM
Well, they will get some btc and some slight ability to control it which is good for them. As for us, the price is very likely to grow in this case, because of the investments. And yet there will be some people (around 2% of btc users I guess) who will stop using btc, because they are very paranoic that this way the government can spy on them and all that.
December 17, 2016, 03:24:39 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
I dont think that they will get into bitcoin or altcoin mining, however if someday they starts investing in mining i think they would create their own cryptocurrency and mining their own rather than investing in bitcoin or any altcoins since people will interested on what they've created.To be honest i really love if those Tech Giants starts accepting bitcoin as payment processor it would make bitcoin gain more popularity as well as the price would be up, also give us an opportunity to spend our coin.
December 17, 2016, 02:35:55 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
They will end up centralizing the network and controlling bitcoin,in short words - we're fucked.You can write a essay about logical side of the story and prove me I'm wrong but Tech Giants don't do anything besides making money .Plus it wouldn't really make sense for Tech Giants to take up Bitcoin Mining on a large scale since it isn't lucrative in the long run.
December 17, 2016, 01:29:47 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
Good Question. Looking at the difficulty of bitcoin mining, I feel some giants must have already joined the raise, they must be keeping the entire thing hidden from the public, I will not be surprised if any tech giants admit it in the coming days. I have heard of rich people just mining and dumping bitcoin simply to make quick bucks.
The same people feel bitcoin will fail and it is just a bubble.
They are in just to profit from the "bubble".
December 17, 2016, 01:29:11 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
Good Question. Looking at the difficulty of bitcoin mining, I feel some giants must have already joined the raise, they must be keeping the entire thing hidden from the public, I will not be surprised if any tech giants admit it in the coming days. I have heard of rich people just mining and dumping bitcoin simply to make quick bucks.
December 13, 2016, 03:30:35 PM
Why do you say if? because they are already doing it with small hashrates to avoid difficulty increases too much.
Though they wont sell their mined coins anytime soon and rather hold on to them to make the price go and rise even higher or they may sell in low volumes to avoid price drop.
Cheap electricity and full pocket are equal to profit in mining bitcoin but I doubt any altcoin is profitable for them to mine due to their fishy dev teams and price fluctuation.
Though they wont sell their mined coins anytime soon and rather hold on to them to make the price go and rise even higher or they may sell in low volumes to avoid price drop.
Cheap electricity and full pocket are equal to profit in mining bitcoin but I doubt any altcoin is profitable for them to mine due to their fishy dev teams and price fluctuation.
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