What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
Simple, it will make bitcoin even more secure. lets get as many peple mining bitcoin as we can.
Topic: What will happen if Tech Giants get into Bitcoin or Altcoin Mining? - page 2. (Read 2209 times)
December 13, 2016, 03:25:22 PM
Simple, it will make bitcoin even more secure. lets get as many peple mining bitcoin as we can.
December 13, 2016, 03:20:36 PM
The only way tech giants are going to be getting into bitcoin is by allowing their products to be bought via bitcoin. They will not do anything in regards to mining bitcoins
and they will not care much about the bitcoin community and the whole scheme of cryptocurrency. Most businesses will probably allow their products to be bought via bitcoin and some really smart business will most likely hire some bitcoin experts that control when to buy/sell the bitcoins they have. The risk for these major companies having bitcoin is the volatility.
and they will not care much about the bitcoin community and the whole scheme of cryptocurrency. Most businesses will probably allow their products to be bought via bitcoin and some really smart business will most likely hire some bitcoin experts that control when to buy/sell the bitcoins they have. The risk for these major companies having bitcoin is the volatility.
December 13, 2016, 03:14:57 PM
Something like that could probably be the tipping point for bitcoin. Price would skyrocket! Hence buy and hold.
December 13, 2016, 02:29:10 PM
Only Time will Tell us what's in the box of tech giants for bitcoin.
December 13, 2016, 12:23:05 PM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
Those big businesses are probably not very interested in mining at all, but if they did difficulty will skyrocket, some of the least profitable miners will go bankrupt and probably will be bought by other miners. 
December 13, 2016, 12:08:14 PM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.
those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.
i agree. none of these tech giants will ever be interested enough to get into bitcoin "mining"
but on the other hand i think they will eventually start integrating bitcoin into their systems someday soon. Microsoft has been working with some altcoins in their Microsoft Azure, and i am sure that Amazon has been receiving so many requests requesting them to add bitcoin and they will give in to the requests. and these two are enough for bitcoin to go mainstream and to the moon from then on.
That makes sense. Tech Giants compete with each other and they will try to make their services better and bitcoin or altcoin mining is not in their league. I would like to see NVIDIA or AMD coming into this arena with some brand new GPUs which are powerful enough to take mining to the next level.
December 13, 2016, 11:00:43 AM
I wont get my hopes high for them getting into Bitcoin because all these big companies rub shoulders with people that matter in government at the same time they are multi-nationals who prefer to have a clean slate in any country they operate. For them coming in wont mean much if government has not sanction the currency because it could be interpreted to mean a way to evade tax which will be bad for business among other media paparazi that might follow suit...
December 13, 2016, 10:55:35 AM
I think I read somewhere that UAE, Saudi and India have electricity prices that are lower than China.
Venezuela seems to be distorted as well, I gather some part have too much electricity, and others have none.
Venezuela seems to be distorted as well, I gather some part have too much electricity, and others have none.
December 13, 2016, 10:44:39 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
If they did it right (developing new generations of ASIC's and running them in places with low energy costs), the diff would probably rise even more than it already did, forcing some smaller miners and miners with relatively high energy rates to stop mining.
For the rest, not much would probably happen, unless they suddenly added a ton of hashrate to the network one week, and took everything offline a couple months later... In this case the average time between two blocks would first be smaller than 10 minutes untill the next readjustment, then when they took their farm offline it increase drastically untill the next readjustment (every 2016 blocks)
It will be very, very difficult to keep developing ASICs that are better than past generation by the magnitude of order we have been seeing in the past few years. This video by Andreas A is very useful in understanding this fact.
https://www.youtube.com/watch?v=2-fUosBOu58
What I don't get is, it will always be way cheaper to do it in china than in the rest of the world due electricity low prices... so how can we end china's monopoly in hashing power while this continues being the case?
December 13, 2016, 10:23:56 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
for sure they can provide a big help for bitcoin to get widely adopted . these tech companies for sure can provide a large facility for mining equipment and build a large mining farm . but I think if they could provide a help for sure there will be a compensation just my opinion
December 13, 2016, 09:54:27 AM
It would be great because they would have more resources and money for mining. If big name tech giants got in, it could also give more legitimacy to Bitcoin.
Altcoin mining is different as pretty much anyone can do it with less resources these days - just a personal desktop for most alts.
Altcoin mining is different as pretty much anyone can do it with less resources these days - just a personal desktop for most alts.
December 13, 2016, 09:51:27 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
If these big big companies will enter in Bitcoin then the technology in Bitcoin will progress daily because after get into the Bitcoin competition will increase sharply to give best service 
December 13, 2016, 09:26:32 AM
We will get good quality of miner from them! That would be great!
Sure, but i wouldn't get my hopes up, i think chances that google or amazon would actually get into bitcoin or altcoin mining are very, very, very slim.
Me either, but when it happens probably google will be taking us bitcoin users to what we always dreamed of. We all know that google always provide an open source software unlike microsoft(that loves to always make money) But the danger ahead on this is that we also do know that google always have an issue when it comes to compromising its users security(when it comes to identity eg: locating you)
December 13, 2016, 08:38:34 AM
If Amazon started to use Bitcoin, they would probably run a mining operation to handle their own payments. That would probably be a useful addition to the mining mix.
December 13, 2016, 08:37:20 AM
Then it will be a big time opportunity to bitcoin to be more popular since tech giants will use it. Also the price will rise because these tech giants are monsters that can earn billions. So if they choose bitcoin for their transactions, im sure its q big time price hike. I heard some rumors about dell. Dell i heard they are accepting bitcoin. But when i search it, it says that they are not accepting bitcoin directly. They use middleman to quickly converts it to money. If these tech giants adopts bitcoin. I think bitcoin price will increase atleast $1800 a piece.
December 13, 2016, 08:22:05 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.
those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.
i agree. none of these tech giants will ever be interested enough to get into bitcoin "mining"
but on the other hand i think they will eventually start integrating bitcoin into their systems someday soon. Microsoft has been working with some altcoins in their Microsoft Azure, and i am sure that Amazon has been receiving so many requests requesting them to add bitcoin and they will give in to the requests. and these two are enough for bitcoin to go mainstream and to the moon from then on.
December 13, 2016, 07:59:26 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.
those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.
December 13, 2016, 07:18:19 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.
those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.
December 13, 2016, 07:09:12 AM
What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?
This will boost bitcoin credibility and therefore the btc price will go up.
But the bitcoin independence will be lost forever....
December 13, 2016, 06:56:48 AM
I expect they'd mine the crap out of our little Bitcoin and we'd get to 21 million really fast.
~snip~
~snip~
Not really, there is a diff adjustment every 2016 blocks. This means if they made enough asic's to tenfold the current network's hashrate, and turned on these asic's all at once, there would be a maximum of 2016 blocks mined with 1 minute between two blocks (on average), then the diff would double* and there would be 2 minutes between blocks (on averate) for 2016 blocks, then there would be 4 minutes for 2016 blocks, then 8 minutes, then 10 minutes (on average)
* at least, i once read from a member that the diff can maximum double/halve each diff adjustment... I cannot find the source for this tough! If this statement is untrue, it'll only take a maximum of 2016 to regain an average time between blocks of ~10mins
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