How much network hash will firo loose? I cannot help but wonder when the devs decided to put out the proposal to reduce the block reward for mining, that they must have considered a worst case scenario. As in a doomsday event where miners throw in the towel and firo becomes a masternode chain. I remember listening to the ethereum devs complaining that they over pay for security and shaking my head, then i heard that from the firo devs. Yet nobody seems to realize how vulnerable masternodes are. These things are concentrated in a limited number of data centers.
Rant over, but seriously what was the anticipated drop in network hash? or does the firo community not care at all if the network hash drops by 60 or 90%.
It would be kind of ironic if that happens, as the amount of block rewards being distributed would obviously drop for the masternodes, devs , community fund.
Hopefully im wrong and firo keeps enough hash to carry on.
Maybe… I have around 32 masternodes being hosted in over 10 countries around the world. They’re all pretty secure (I’m a system admin and computer programmer/engineer) too.
Only time will tell, honestly. But for sure miners are not going anywhere.
I’m a rookie… may be i’m wrong, but: less miner reward must not mean less transactions cost, then more transaction, then: more profit?
FIRO will be fine, even with a huge drop in mining. i hope it will not be so drastic, but it is not such a huge deal. Cause we are vulnerable against 51% attacks anyway, doesnt matter if we have 55GHs or 10GHs. Therefore we have the masternodes with their chainlocks. The ones who just mine it for profit will go, the enthusiasts will stay. we are a microcap coin. we need to take risk to compete with the competition. So thinks the majority of the community and voted to reduce miner rewards
With the halving of rewards, it is expected to have the hashrate dropped in half. However if the price rises, then the hashrate would also naturally follow.