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Comment by tromp

> Dogecoin's blockchain is shorter

Not only is blockchain length immaterial to its relevancy, but Dogecoin's chain is in fact longer, as its block interval is only 1 minute, so it is asymptotically 10 times longer than Bitcoin.

> there's one Bitcoin mined every ten minutes

You mean one block (containing an subsidy starting at 50 Bitcoin that's halved every 4 years).

> Miners will generally only mine the blockchain with the most value

Wrong; SHA256 miners will mine the most profitable SHA256 chain, such as Bitcoin. Scrypt miners have totally different ASICs and will mine the most profitable scrypt chain.

> No other blockchain can ever maintain its stability as long as Bitcoin exists. The game theory that backs Bitcoin also proves that all other cryptocurrencies cannot work in the long term.

The theory behind Bitcoin long term security is rather shaky in fact, requiring a constant backlog of high-fee paying transactions once its block subsidy becomes insignificant. Chains with a tail emission face no such issues.

parent tromp 4 years ago

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