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replied 2157d
Wouldn't it have the consequence that the miners would stop mining and the price would fall?
replied 2157d
If you change the algorithm, it does not matter what SHA256 miners do anymore.
replied 2157d
But the hash would probably fall extremely and so would the price. Also, after such fork the sha256 miner would continue to mine the old BCH. Nobody would follow the new fork.
replied 2157d
Hashrate generally follows price. Not the other way around.
replied 2157d
Even BSV miners (Coingeek, etc.) stopped mining at a loss: https://sv.coin.dance/blocks
replied 2157d
If majority of the underlying ecosystem upgrades their software then it will be BCH. Miners are powerless if everyone else follows a different chain.
replied 2157d
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 2157d
Maybe you're right. Algo chang would be dangerous, but even the current state is no less dangerous.
replied 2157d
The current state is an order of magnitude more dangerous.
replied 2157d
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 chain
replied 2157d
Indeed. To do a successful algo change majority of the non-mining players and users have to upgrade including the exchanges.
replied 2157d
Especially the Exchanges. Otherwise the miner and Exchanges stay on the old chain and keep BCH ticker.
replied 2157d
Exchanges most of the time will follow the main devs.
Devs that control the git get control of the name and ticker.
replied 2157d
this. Also, monero proved that no one will give a shit about the "old-miner" branch if everyone else upgrades.
replied 2157d
It's the same with any hard fork upgrade.
replied 2157d
The irrelevant amount of SHA256 hash would just move back to BTC.
replied 2157d
Hurdles will be there, but they can be overcome eventually....something must be done long term before eco warriors turn against mining too.
BMT322
replied 2157d
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 2157d
Thinking that POW can be replaced without serious trade offs is dumb.
replied 2157d
What hash? I would be sure to fire up my CPUs/GPUs.

You can't directly compare the hashrate of different algorithms.