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

[Dmitry.Vastov]

Then it will be a big time opportunity to bitcoin to be more popular since tech giants will use it. Also the price will rise because these tech giants are monsters that can earn billions. So if they choose bitcoin for their transactions, im sure its q big time price hike. I heard some rumors about dell. Dell i heard they are accepting bitcoin. But when i search it, it says that they are not accepting bitcoin directly. They use middleman to quickly converts it to money. If these tech giants adopts bitcoin. I think bitcoin price will increase atleast $1800 a piece.

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[Jet Cash]

If Amazon started to use Bitcoin, they would probably run a mining operation to handle their own payments. That would probably be a useful addition to the mining mix.

[darklus123]

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.

Me either, but when it happens probably google will be taking us bitcoin users to what we always dreamed of. We all know that google always provide an open source software unlike microsoft(that loves to always make money) But the danger ahead on this is that we also do know that google always have an issue when it comes to compromising its users security(when it comes to identity eg: locating you)

[coynedterm]

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

If these big big companies will enter in Bitcoin then the technology in Bitcoin will  progress daily  because after get into the Bitcoin competition will increase sharply to give best service

[BellaBitBit]

It would be great because they would have more resources and money for mining.  If big name tech giants got in, it could also give more legitimacy to Bitcoin.

Altcoin mining is different as pretty much anyone can do it with less resources these days - just a personal desktop for most alts.

[carlisle1]

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

for sure they can provide a big help for bitcoin to get widely adopted . these tech companies for sure can provide a large facility for mining equipment and build a large mining farm . but I think if they could provide a help for sure there will be a compensation just my opinion

[pereira4]

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)

It will be very, very difficult to keep developing ASICs that are better than past generation by the magnitude of order we have been seeing in the past few years. This video by Andreas A is very useful in understanding this fact.

https://www.youtube.com/watch?v=2-fUosBOu58

What I don't get is, it will always be way cheaper to do it in china than in the rest of the world due electricity low prices... so how can we end china's monopoly in hashing power while this continues being the case?

[Jet Cash]

I think I read somewhere that UAE, Saudi and India have electricity prices that are lower than China.
Venezuela seems to be distorted as well, I gather some part have too much electricity, and others have none.

[olubams]

I wont get my hopes high for them getting into Bitcoin because all these big companies rub shoulders with people that matter in government at the same time they are multi-nationals who prefer to have a clean slate in any country they operate. For them coming in wont mean much if government has not sanction the currency because it could be interpreted to mean a way to evade tax which will be bad for business among other media paparazi that might follow suit...

[markisanon2434]

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.

That makes sense. Tech Giants compete with each other and they will try to make their services better and bitcoin or altcoin mining is not in their league. I would like to see NVIDIA or AMD coming into this arena with some brand new GPUs which are powerful enough to take mining to the next level.

[South Park]

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

Those big businesses are probably not very interested in mining at all, but if they did difficulty will skyrocket, some of the least profitable miners will go bankrupt and probably will be bought by other miners.

[aditya6997]

Only Time will Tell us what's in the box of tech giants for bitcoin.

[TheWallStreetCrew]

Something like that could probably be the tipping point for bitcoin. Price would skyrocket! Hence buy and hold.

[manbitcoinlover]

The only way tech giants are going to be getting into bitcoin is by allowing their products to be bought via bitcoin. They will not do anything in regards to mining bitcoins
and they will not care much about the bitcoin community and the whole scheme of cryptocurrency. Most businesses will probably allow their products to be bought via bitcoin and some really smart business will most likely hire some bitcoin experts that control when to buy/sell the bitcoins they have. The risk for these major companies having bitcoin is the volatility.

[calkob]

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

Simple, it will make bitcoin even more secure.  lets get as many peple mining bitcoin as we can. 

[digaran]

Why do you say if? because they are already doing it with small hashrates to avoid difficulty increases too much.
Though they wont sell their mined coins anytime soon and rather hold on to them to make the price go and rise even higher or they may sell in low volumes to avoid price drop.
Cheap electricity and full pocket are equal to profit in mining bitcoin but I doubt any altcoin is profitable for them to mine due to their fishy dev teams and price fluctuation.

[virasog]

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

Good Question. Looking at the difficulty of bitcoin mining, I feel some giants must have already joined the raise, they must be keeping the entire thing hidden from the public, I will not be surprised if any tech giants admit it in the coming days. I have heard of rich people just mining and dumping bitcoin simply to make quick bucks.

[salmanahmedone]

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

Good Question. Looking at the difficulty of bitcoin mining, I feel some giants must have already joined the raise, they must be keeping the entire thing hidden from the public, I will not be surprised if any tech giants admit it in the coming days. I have heard of rich people just mining and dumping bitcoin simply to make quick bucks.

The same people feel bitcoin will fail and it is just a bubble.
They are in just to profit from the "bubble".

[Patatas]

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

They will end up centralizing the network and controlling bitcoin,in short words - we're fucked.
You can write a essay about logical side of the story and prove me I'm wrong but Tech Giants don't do anything besides making money .Plus it wouldn't really make sense for Tech Giants to take up Bitcoin Mining on a large scale since it isn't lucrative in  the long run.

[btccashacc]

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

I dont think that they will get into bitcoin or altcoin mining, however if someday they starts investing in mining i think they would create their own cryptocurrency and mining their own rather than investing in bitcoin or any altcoins since people will interested on what they've created.
To be honest i really love if those Tech Giants starts accepting bitcoin as payment processor it would make bitcoin gain more popularity as well as the price would be up, also give us an opportunity to spend our coin.