What will happen if Tech Giants get into Bitcoin or Altcoin Mining? - page 3.

ethereumhunter

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Quote from: aditya6997 on December 13, 2016, 05:25:16 AM

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

everything will change and the market will not dominate by chinese market, because we see that tech giants in every where really want to dominate the market so they can make big profit. we see that this is happen in every industry especially with google and microsoft and there are many example for this, google dominate the android phone, microsoft dominate the computer technology.

xuan87

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let's just assume that it is going to happened, then we will see a huge amount of miners, which will be good for us, our transaction will be faster, and the other effect of this will be the increase of bitcoin popularity, with the big tech investing in bitcoin, automatically bitcoin reputation will be increase and bitcoin will become more famous and it will bring more users, so if they joined bitcoin world it will be a lot of positive effect, the negative one will be, it will be more difficult for us to mine

agustina2

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Quote from: aditya6997 on December 13, 2016, 05:25:16 AM

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

They will not invest in bitcoin but rather will accept bitcoin as their mode of payment or any related things to that. There's no chance that they will soon include bitcoin as part of their investment. As you said, they are already big.

What is the benefits of accepting bitcoin as part of their financial cycle? Popularity and expect a heavily usage of bitcoin around the world which will result for strong foundation around the bitcoin price rate. Just expect now a little bit stability of bitcoin price.

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Quote from: aditya6997 on December 13, 2016, 05:25:16 AM

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

I believe that all of these multinational giant companies have an army of consultants and "weigh" very carefully the pros and cons of every business decision they think to make. So if they decide to take part in mining they will invest vast amounts of funds for long time.

rocketloki

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So potential they good harm the enter Bitcoin system right?

coolcoinz

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I expect they'd mine the crap out of our little Bitcoin and we'd get to 21 million really fast. For us, users nothing would change as home mining is mostly dead. The only ones mining Bitcoin now are already giants to people like me. They are running farms the size of a football field, filled with electronics worth more than my yearly income and my savings combined Cheesy

tiggytomb

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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

n0ne

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Rather than getting into mining, its better to start accepting bitcoin into their services. As a beginning most big giants have started implementation and usage of Blockchain technology into their business. Recently Microsoft along with azure had initiated Blockchain technology for their needs in India.

error08

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Quote from: mocacinno on December 13, 2016, 05:32:43 AM

Quote from: aditya6997 on December 13, 2016, 05:25:16 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)

Yeah, that would be great to have big tech company join in bitcoin but China miners will still lead the mining due to their advantages in the country (hardware and low cost electricity).
I think so, it wouldn't/never be happen as they have their own project and interest. We just depends on developers to solve blockchain problems, to handle transaction issues and the block.

aditya6997

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I know chances are less though they would get into it

aditya6997

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There will be also a possibility of manufacturing efficient multialgo yet upgradable miners!

mocacinno

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Quote from: aditya6997 on December 13, 2016, 05:48:19 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.

aditya6997

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We will get good quality of miner from them! That would be great!

mocacinno

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Quote from: aditya6997 on December 13, 2016, 05:25:16 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)

aditya6997

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What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

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