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In reply to the discussion: What do you think of Crypto Currencies? [View all]fescuerescue
(4,448 posts)28. Yea weird things can happen with sparsely mined coins
Some of the less popular alt-coins have gotten stranded at a high difficulty level when mining power abruptly shifts.
This happens because it taxes X blocks to readjust the difficulty (downwards), but because there isn't enough mining power, it take might take years to mine X blocks. And since the difficulty is too high, nobody wants to waste hash power on it.
I could see that happening with bitcoin if for some reason 90% of the hash power is removed (either by legal means or technical reasons)
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Since the fbi was able to get into one bad actor's Bitcoin wallet, maybe there's hope
soothsayer
Jun 2021
#2
I don't know enough to comment about that particular issue but I don't think the internet itself,
ShazamIam
Jun 2021
#3
You can buy $.01 worth of bit coin. Shoulda, it'd be worth a coupla grand by now. But no to Bitcoin.
marble falls
Jun 2021
#9
the cynic in me says that governments across the planet hate the idea of money they can't regulate.
WarGamer
Jun 2021
#14
The environment argument is specious. But cryptos are the future in ways unrelated to currency
fescuerescue
Jun 2021
#17