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replied 1699d
If majority of the underlying ecosystem upgrades their software then it will be BCH. Miners are powerless if everyone else follows a different chain.All upgrades require coordination, this is no different. I think the BCH userbase is big enough to pull off a successful POW algo change.
replied 1699d
Maybe you're right. Algo chang would be dangerous, but even the current state is no less dangerous.
replied 1699d
The current state is an order of magnitude more dangerous.
replied 1699d
Agree with all TLT :-)
but if Algo change is done without BCH ABC and others, we risk splitting to a new name & ticker
if algo change is done with consensus,rivals will mine old chainHurdles will be there, but they can be overcome eventually....something must be done long term before eco warriors turn against mining too.
replied 1699d
Indeed. To do a successful algo change majority of the non-mining players and users have to upgrade including the exchanges. It's the same with any hard fork upgrade.
replied 1699d
Especially the Exchanges. Otherwise the miner and Exchanges stay on the old chain and keep BCH ticker.
replied 1699d
Exchanges most of the time will follow the main devs.
Devs that control the git get control of the name and ticker.
replied 1699d
this. Also, monero proved that no one will give a shit about the "old-miner" branch if everyone else upgrades.
replied 1699d
The irrelevant amount of SHA256 hash would just move back to BTC.
BMT322
replied 1699d
Part of me thinks cardano is a sleeping giant capable of rendering POW superfluous, we’ll all be eating crow if Hoskinson can deliver.
replied 1699d
Thinking that POW can be replaced without serious trade offs is dumb.