What will happen if Tech Giants get into Bitcoin or Altcoin Mining?

[aditya6997]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

[mocacinno]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

If they did it right (developing new generations of ASIC's and running them in places with low energy costs), the diff would probably rise even more than it already did, forcing some smaller miners and miners with relatively high energy rates to stop mining.

For the rest, not much would probably happen, unless they suddenly added a ton of hashrate to the network one week, and took everything offline a couple months later... In this case the average time between two blocks would first be smaller than 10 minutes untill the next readjustment, then when they took their farm offline it increase drastically untill the next readjustment (every 2016 blocks)

[aditya6997]

We will get good quality of miner from them! That would be great!

[mocacinno]

We will get good quality of miner from them! That would be great!

Sure, but i wouldn't get my hopes up, i think chances that google or amazon would actually get into bitcoin or altcoin mining are very, very, very slim.

[aditya6997]

There will be also a possibility of manufacturing efficient multialgo yet upgradable miners!

[aditya6997]

I know chances are less though they would get into it

[error08]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

If they did it right (developing new generations of ASIC's and running them in places with low energy costs), the diff would probably rise even more than it already did, forcing some smaller miners and miners with relatively high energy rates to stop mining.

For the rest, not much would probably happen, unless they suddenly added a ton of hashrate to the network one week, and took everything offline a couple months later... In this case the average time between two blocks would first be smaller than 10 minutes untill the next readjustment, then when they took their farm offline it increase drastically untill the next readjustment (every 2016 blocks)

Yeah, that would be great to have big tech company join in bitcoin but China miners will still lead the mining due to their advantages in the country (hardware and low cost electricity).
I think so, it wouldn't/never be happen as they have their own project and interest. We just depends on developers to solve blockchain problems, to handle transaction issues and the block.

[n0ne]

Rather than getting into mining, its better to start accepting bitcoin into their services. As a beginning most big giants have started implementation and usage of Blockchain technology into their business. Recently Microsoft along with azure had initiated Blockchain technology for their needs in India.

[tiggytomb]

Would probably mean there would be more competition and more miners being produced at a lower cost for all of us which is a win win

[coolcoinz]

I expect they'd mine the crap out of our little Bitcoin and we'd get to 21 million really fast. For us, users nothing would change as home mining is mostly dead. The only ones mining Bitcoin now are already giants to people like me. They are running farms the size of a football field, filled with electronics worth more than my yearly income and my savings combined

[rocketloki]

So potential they good harm the enter Bitcoin system right?

[sportis]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

I believe that all of these multinational giant companies have an army of consultants and "weigh" very carefully the pros and cons of every business decision they think to make. So if they decide to take part in mining they will invest vast amounts of funds for long time.

[agustina2]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

They will not invest in bitcoin but rather will accept bitcoin as their mode of payment or any related things to that. There's no chance that they will soon include bitcoin as part of their investment. As you said, they are already big.

What is the benefits of accepting bitcoin as part of their financial cycle? Popularity and expect a heavily usage of bitcoin around the world which will result for strong foundation around the bitcoin price rate. Just expect now a little bit stability of bitcoin price.

[xuan87]

let's just assume that it is going to happened, then we will see a huge amount of miners, which will be good for us, our transaction will be faster, and the other effect of this will be the increase of bitcoin popularity, with the big tech investing in bitcoin, automatically bitcoin reputation will be increase and bitcoin will become more famous and it will bring more users, so if they joined bitcoin world it will be a lot of positive effect, the negative one will be, it will be more difficult for us to mine

[ethereumhunter]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

everything will change and the market will not dominate by chinese market, because we see that tech giants in every where really want to dominate the market so they can make big profit. we see that this is happen in every industry especially with google and microsoft and there are many example for this, google dominate the android phone, microsoft dominate the computer technology.

[mocacinno]

I expect they'd mine the crap out of our little Bitcoin and we'd get to 21 million really fast.
~snip~

Not really, there is a diff adjustment every 2016 blocks. This means if they made enough asic's to tenfold the current network's hashrate, and turned on these asic's all at once, there would be a maximum of 2016 blocks mined with 1 minute between two blocks (on average), then the diff would double* and there would be 2 minutes between blocks (on averate) for 2016 blocks, then there would be 4 minutes for 2016 blocks, then 8 minutes, then 10 minutes (on average)

* at least, i once read from a member that the diff can maximum double/halve each diff adjustment... I cannot find the source for this tough! If this statement is untrue, it'll only take a maximum of 2016 to regain an average time between blocks of ~10mins

[davis196]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

This will boost bitcoin credibility and therefore the btc price will go up.

But the bitcoin independence will be lost forever....

[Pursuer]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.

those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.

[milewilda]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.

those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.

This is very true on which those big companies would really not bother to engage into bitcoin mining since they would see that they could only make small money with it infact they would rather choose to stick their traditional ways of making money which is even more bigger profits rather than on bitcoin mining. The would really not tend to jump on and you are right they would really hesitate since bitcoins value is still unstable and they dont like that for sure.

[Herbert2020]

What will happen if Tech Giants Like Google, Microsoft, Amazon starts investing in Bitcoin or Altcoin Mining?

tech giants like these that you named are too big to care about the profit they may get from bitcoin and remember that bitcoin is still not a fully established system but still in its beta initial phase and many even consider it risky and experimental.

those giants would either invest in something that can have a much bigger return 100 times bitcoin mining profit or if in a very unlikely scenario they decided to get in bitcoin they would buy and invest in it.

This is very true on which those big companies would really not bother to engage into bitcoin mining since they would see that they could only make small money with it infact they would rather choose to stick their traditional ways of making money which is even more bigger profits rather than on bitcoin mining. The would really not tend to jump on and you are right they would really hesitate since bitcoins value is still unstable and they dont like that for sure.

i agree. none of these tech giants will ever be interested enough to get into bitcoin "mining"
but on the other hand i think they will eventually start integrating bitcoin into their systems someday soon. Microsoft has been working with some altcoins in their Microsoft Azure, and i am sure that Amazon has been receiving so many requests requesting them to add bitcoin and they will give in to the requests. and these two are enough for bitcoin to go mainstream and to the moon from then on.