Author: Alexander Leishman 2014-10-25 21:51:59
Published on: 2014-10-25T21:51:59+00:00
The email conversation between Alex Mizrahi and Alex Leishman discusses the potential effects of halving the block reward in Bitcoin mining. It is suggested that when the reward is halved, inflation is also halved which may lead to an upward pressure on the price of Bitcoin. The possibility of a double-spend attack on the Bitcoin network is also mentioned, with the potential effect of reducing the profitability of multipool mining and causing panic in alt-coin markets vulnerable to malicious hash-power. Multipools such as NiceHash and Multipool.us are discussed, which can switch between different chains and potentially be used for an attack on Bitcoin if 60% of its total hashrate is available via these pools. The conversation highlights the need to consider all potential effects of halving the block reward and the importance of understanding the basics of Bitcoin mining.
Updated on: 2023-06-09T03:31:30.898833+00:00