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| So, does mining difficulty depend only on the number of miners or does it depend on the total mining power of all the computers mining? In other words, do miners with more mining power still have an advantage?
If mining power only depends on the number of miners then you would imagine that whenever quantum computers get perfected, the price of bitcoin will drop to near zero because the cost running a quantum computer will be small (not counting the cost of building the quantum computer).
It will be like corn farming. When the national yield was 30 bushel per acre we planted 90 million acres and were lucky to produce 3 billion bushel. Now we produce 15 billion. That's why the parity price of corn is something like $30 (?). per bushel. | |
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Bitcoin
