Comment by embedding-shape
20 hours ago
> but once it does happen, the edge case collapse the entire system.
Which is when exactly, and how likely is that to happen? It hasn't happened yet in ~14 years, but I guess "never say never". There is a lot of money saying it won't happen very soon though.
If it happens it'll probably the result of a positive feedback loop forming: miners leaving slowing down transactions and affecting utility/faith in the system resulting in people selling, meaning more miners leaving, etc. That said, I don't know of any clear examples of this happening to any other proof of work coins: I think in general other parts of a cryptocurrency tend to fail first, it requires a particularly fast death for this kind of thing to happen.
It's also a side-effect of apocollapse of bitcoin itself; it becomes worth so little that nobody is mining means nobody will mine to a new block difficulty; but the collapse already occurred.