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March 30, 2014, 02:16:58 AM |
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Whichever spends the most on ASICs, moderated slightly by which is able to generate electricity cheapest.
Also, though, probably moderated by which has miners who are most dedicated as compared to which has more miners who aren't actually in the business of securing blackchains but, rather, are in the business of bait-and-switch mining, in which they mine one chain a while to fool investors into thinking that chain has a lot of hash power thus is more secure, then jump to some other chain, basically switching which chain is actually being secured; such miners tend to be serial bait-and-switch miners, and even sometimes after baiting on one chain leaving the investors in the other in the lurch later go back to baiting one they already baited and siwtched in the past.
Even with merged mining some miners will likely try to manipulate markets by such bait-and-switch tactics, dropping some coin from their merge to drive its price down due to investors noticing its hashrate drop, then after buying up the coins cheap adding it back into their merge...
So having huge transactors who invest a lot in mining operations because they and/or their customers do a lot of transacting on a given chain will probably be helpful, as will having massive holders who invest in mining gear to help secure the coins they hold massive wealth in.
-MarkM-
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