Author: Mark Friedenbach 2018-01-22 19:59:39
Published on: 2018-01-22T19:59:39+00:00
In a discussion on the bitcoin-dev mailing list, Ilan Oh made a statement regarding the relationship between mining power and cryptocurrency value. He stated that the chain with the most mining power will tend to have more value. However, another member of the mailing list, Andrew Poelstra, disagreed with Oh's assertion and suggested that the causality was actually the opposite. According to Poelstra, tokens that are worth more will attract more mining hash rate because miners respond to cash-out value rather than setting it themselves. This debate highlights the complex interplay between mining power and cryptocurrency value. While some may believe that mining power is the primary driver of value, others argue that it is the other way around. Ultimately, the relationship between these two factors is likely to be multifaceted and dependent on a variety of different variables.
Updated on: 2023-06-13T00:04:31.750757+00:00