[davewritescode]

There's also the fact that small blockchain networks become less useful the smaller they become because while it's impossible to change history, 51% attacks can make a blockchain not function in optimal ways. When you have a massive network of nodes and the incentives not devalue the thing you're trying to earn it works.

[simias]

Meanwhile larger networks become increasingly inefficient because without trust all transactions have to be checked and rechecked and rechecked and rechecked. But fear not, $magical_solution is around the corner and will resolve all of this! It's been coming for 5 years now, so you know it's due any minute now.

[marcosdumay]

That. It's yet to be seen how a blockchain that required specialized hardware reacts to a shrinking user base.

If there exists more hardware than what's active mining, and it can not be used for anything else, will there be enough incentives not to use it in a harmful way?