4 ms·

I don't see how Moore's law has anything to do with Bitcoin. Their biggest problem is the huge company owned miners that could easily collude to control the net

• nickysielicki 10y ago
  When the advantage provided by doing an in-house ASIC goes away, the limiting factor becomes cheap electricity, and the amount of people who are able to compete grows. Right now, a couple groups of people are trying to make the fastest ASIC so that they can convert electricity into money, using their proprietary efficient converter. But if everyone can get the same efficient converter, suddenly it's viable for anyone that can produce cheap electricity with a stable internet connection. And there are far more people/countries who are able to compete on the cost of electricity than there are people/companies who are able to compete on making the best SHA-256 ASIC. This tends towards decentralization.
  • reddytowns 10y ago
    Interesting, but you are talking about the end of the exponential growth dictated Moore's law to quickly become nearly a flat line. You sound like that guy back in the 1800's who predicted that everything that can be invented has been invented. It's possible for that to happen, but why do you think it will happen now?
    • nickysielicki 10y ago
      The argument is made best by this blog post by bunnie, backed up with real data and realistic projections. http://www.bunniestudios.com/blog/?page_id=1927 http://www.bunniestudios.com/blog/?page_id=1927