The "Bitcoin mining death spiral" debate explained
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Quick Take
- Bitcoin is not going into a miner-induced death spiral
- In an extremely unlikely scenario if hash rate dropped a lot, miners can be kept running by increasing fees
- If that wasn’t enough, as a last resort, there could be an emergency fork to manually lower difficulty
Bitcoin is not going into a “mining death spiral.” Now that we’ve gotten that out of the way… rather than fear-mongering, The Block is committed to clarifying comments and concerns posed by crypto-fund managers and enthusiasts alike with level-headed technical clarity. [related id=1]The case that Bitcoin is going into a miner-induced death spiral is intuitively […]
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