Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
conspirosphere.tk
on 26/08/2017, 22:21:14 UTC
Instead of pooling money to tear down Bitman, why don't you pool your money to outcompete them? Add to Bitcoin's security, rather than destroy it.

That's something I have always wondered. Why heavily invested individuals/groups (those in the high tens of thousands or even hundreds of thousands BTC) don't invest in a competing ASICS manufacturer?.

I can understand that mining activity depends on other factors like cheap electricity, cheap maintenance labour, etc so Chineese pools will always have an advantage there. More so if there is any State support that we are not aware of. But they could compete in mining equiment development/manufacturing.

There is only a logical answer: they feel that the risk is too high.
Either because most of the easy coins have already been mined, and/or because they do not expect that it would be a secure investment (due to civil wars, change in PoW, etc).
But I hear that Russia has electricity at 1 cent/Kwh and that's why they want to get in at the top State level.