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As mining bitcoin is only worthwhile with ASICS there will be no flood of electronics entering the market at low prices, being used for something more "worthwhi
by jack_pp 5y ago
As mining bitcoin is only worthwhile with ASICS there will be no flood of electronics entering the market at low prices, being used for something more "worthwhile". You could argue this is a feature and not a bug. I, as many people before me, thought about a cryptocurrency with a "useful" PoW like protein folding but if you would create such a thing it would be very susceptible to attack by govt or any big private actor because if you could mine cryptocurrency with general hardware then acquiring said hardware for an attack has 0 cost. You could acquire hardware for the attack, crash the currency then just use it for the protein folding.
So the fact that the mining hardware can't be used for anything else is a feature which makes bitcoin more secure against attack.
- em3rgent0rdr 5y agoThe input resources used to create ASICs still would become available to be used to create other electronics, including other types of ASICs.