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Because not everyone can afford ASIC's, which puts the mining power solely in the hands of those who can afford the hardware. This once again reduces the playi
by FridgeSeal 9y ago
Because not everyone can afford ASIC's, which puts the mining power solely in the hands of those who can afford the hardware.
This once again reduces the playing field to a small, powerful group of players and essentially no one else can participate. Doesn't this defeat the purpose of a decentralised currency based on not having "trusted nodes"?
- wmf 9y agoRealistically the cost of entry is more like $2,000 which is not a small, powerful group of players.
- t3soro 9y agoIt's not, though. You have the R&D costs of the ASIC, which you don't have to sell to the public, or can run them on your own schedule before releasing them for sale.
- FridgeSeal 9y agoYeah I've totes got $2k spare to use on just getting an ASIC, which likely won't have any resale value, and is only valuable for a very finite time Comparatively, I do have a nice graphics card (which I can use for gaming and stuff), and I can rent from cloud providers at price points I can afford if I wanted more access to cards.
- s73v3r_ 9y agoBut they're pushing the cost of graphics cards up in such a way that does the same thing, no?