The genious of Satoshi is at work again...assuming that all the greedy powerful mining conglomerates leave BTC, then the levels of hashing difficulty will come way down - hence people with a decent home computers may have a shot at mining again. Wouldn't that ease off the bitcoin traffic jammed and release the demand for bigger side blockchain ? do I miss something here ?
Yes you're missing a lot. For mining to be possible with ordinary computers again, the difficulty needs to drop a trillion fold. Mining difficulty rises fast but drops very very slowly. If ASIC miners all jumped ship now and only PCs were left mining, it would take over a hundred years for it to correct back to PC levels.
Ok thank you -but let me try to rephrase my question once again. If the large conglomerates mining groups are abanding bitcoin blockchain , and the level of difficulty would come down (may takes sometime but eventually it will). Then wouldn't that make it easier for the private people to at least get a shot at using some decent machines (forget about personal PCs) - we're talking about less expensive mining machines to mine again ? And Wouldn't that reduce the pressure to increasing the blockchain size ?? This is a philosophical question that need to be answered with the technical reality of the Bitcoin Blockchain technology...
I'm asking that in the long run, perhaps it's a good thing for the large conglomerates miners to abandon bitcoin ?...you know "decentralize"...
Big corporations and the government are running the healthcare system and the education system in the US and look at the mess we are in...I for once attracted to the blockchain technology because of the nature of the decentralization idea. Otherwise, we are all heading back to the business as usual...