Author: Jefferson Carpenter 2018-01-17 22:31:52
Published on: 2018-01-17T22:31:52+00:00
According to Moore's law, Bitcoin's difficulty will reach its maximum within 400 years. This means that block time will start decreasing and blocks will be mined faster than the speed at which photons can be sent across the planet. Despite being the dominant cryptocurrency today due to its first-mover advantage, Bitcoin has a built-in end date of approximately 400 years. After that, it won't be clear which cryptocurrency will dominate the market. This could lead to financial losses for many, similar to the VHS vs Betamax scenario. To mitigate this risk, it is suggested that a plan should be made today for when Bitcoin reaches the 400-year mark. It is unclear whether there are any plans in place currently to migrate to a PoW that supports an even higher difficulty level.
Updated on: 2023-05-20T04:47:04.779980+00:00