Topic: Will we have higher fees and lower network security after halving day? - page 2. (Read 1333 times)
October 15, 2015, 03:51:09 AM
If its cheap to mine bitcoins then its also cheaper for any adversary, the price of mining hardware has nothing to do with it.
October 15, 2015, 03:48:50 AM
I thought that we already have so much hash rate that even if we have a drop of let's say 30% because some miners will definitely leave after that halving, we would still be largely OK. Even the latest rises in difficulty are proving us that we have really a lot of hash rate at the moment.
So what am I missing here in my thinking?
So what am I missing here in my thinking?
October 15, 2015, 03:47:15 AM
Well yes it might be rewarding for some but less profit overall to pay for security; the price to attack the network will drop as a result.
The network will never be as secure as it is now, regardless of how cheap they make ASICs. The overall picture is less money going to the good guys to protect the network as a whole.
The network will never be as secure as it is now, regardless of how cheap they make ASICs. The overall picture is less money going to the good guys to protect the network as a whole.
October 15, 2015, 03:40:09 AM
lower security because you think miners will leave the network, cuz of lower reward?
i can easily prove that there would still be huge profit for them
by the time the halving come everyone will use s7, s7 anminer consume only 1200w, while delivering almost 5 tera, which are 0.04 per day
consumption is $45(rounded) per month at 0.05 electricity cost, the average for big farm(0.05 x 1.2kw x 24 x 30) vs $300(0.04 x 30 = 1.2 btc) per month, right now
after the halving, will be $45 in consumption vs $150 in profit, even if the diff double, you have 45 vs 75, still 30 pure profit each month and zero need for roi, because i'm sure they roied on every asic already
i can easily prove that there would still be huge profit for them
by the time the halving come everyone will use s7, s7 anminer consume only 1200w, while delivering almost 5 tera, which are 0.04 per day
consumption is $45(rounded) per month at 0.05 electricity cost, the average for big farm(0.05 x 1.2kw x 24 x 30) vs $300(0.04 x 30 = 1.2 btc) per month, right now
after the halving, will be $45 in consumption vs $150 in profit, even if the diff double, you have 45 vs 75, still 30 pure profit each month and zero need for roi, because i'm sure they roied on every asic already
October 15, 2015, 02:58:22 AM
Bitcoin halving day will soon be upon us; I'm predicting a nice bump in price around this time, a huge drop in the hashing power of the mining community and a bump in fees.
Not everyone agrees with me but mark my words will see a huge drop in hash rate and thus in the security of the network after halving day. I hope the network is ready.
Made edits sorry I don't want to be stuck in speculation no one comes here.
Not everyone agrees with me but mark my words will see a huge drop in hash rate and thus in the security of the network after halving day. I hope the network is ready.
Made edits sorry I don't want to be stuck in speculation no one comes here.
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