“Attack” theoretical Bitcoin: At the end in half – minor dilemma **
Bitcoin, the first and broadest cryptocurrency, suffered a special phenomenon. As the creation of new Bitcoins at each event is halved, minors are faced with an indefinite future. The question is: What happens when this critical decrease in mining profit causes some minors to give up their job?
cycle in half: essential factor
The reward for Bitcoin blocks is intended to encourage minors to confirm operations and create new blocks at a certain speed (currently 6.25 BTC in each block). Each block requires significant calculation power, energy consumption and storage space. Half a reduction in the process ensures that the supply of new Bitcoins is restricted by approximately 210,000, maintaining the value and rarity of each room.
HOLVING POSITIONS: DEFINITION OF REPLY
When minors receive a lower reward for creating new blocks (such as reducing 2012), there are several problems:
- Reduces profitability : With a reduced reward due to a block due to minors may not be able to afford the calculation power and the energy consumption needed to use Bitcoin.
2.
Effect on minors: “small dilemma”
If the price increase does not reimburse the award decrease, some minors will eventually become unfamiliar. This can lead to a phenomenon known as “minor fatigue” when fewer minors remain active and others continue to harm the lower rate.
While more and more minors are giving up their work or reduced their efforts, the complexity of the Bitcoin network is decreasing. With less power and mineral resources, minors must optimize their activities to maintain profitability, which may be impossible. This can cause:
- Decreased mining efficiency
: minors will have to compete for a limited number of blocks, which will reduce mining speed and increased competition.
2.
Attack theoretical Bitcoin
When half a decrease, some minors may become non -profitable due to a combination of factors:
- Reduced Block Reward
- Increased competition
- Decrease of mining efficiency
This theoretical scenario can significantly reduce the activity of minors, which has been observed in recent years. The consequences of this downturn are high and affect the overall stability of the Bitcoin network.
In conclusion, as the cycle ends in half, minors must adapt to changes in the structure of the reward. If the price increase does not reimburse the reward decrease, some minors will become optional, resulting in a “small dilemma”. The theoretical “attack” against the Bitcoin concept emphasizes the potential consequences of reducing this critical mining profit and the importance of adaptation to these changes to maintain the stability and decentralization of the network.