So why do we even need to hard fork the PoW algo? Even if there's just one block per day, the chain actually still works!
We would just be leap frogging to the prophesied hyperbitcoinization scenario...
The problem is only one or two miners now mine on this side of the chain. With this speed they will need about two or three months to mine 100 blocks. Only after that they will be able to spend the very first block rewards they mined after the split. And even then they might not be able to sell it to cover for expenses. If we assume they mainly rent hash, that means they burn through 2-5% of their stack each time they place an order. So they probably won’t last for 2 years until the next difficulty adjustment kicks in. We’re faced with some options here:
1) cheer them on from the sidelines
2) start renting hash to join them in what may be a fool’s errand
3) try to bootstrap the hard fork
4) if some miner with the size of MARA or larger gets swayed by the fees, we might consider abandoning the hard fork and keep the pressure to other pools to abandon the old chain and to extend the 110 one. But this will result in wiping out all of their previous work since 8/8/2026
1) cheer them on from the sidelines
2) start renting hash to join them in what may be a fool’s errand
3) try to bootstrap the hard fork
4) if some miner with the size of MARA or larger gets swayed by the fees, we might consider abandoning the hard fork and keep the pressure to other pools to abandon the old chain and to extend the 110 one. But this will result in wiping out all of their previous work since 8/8/2026
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