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>Well, why's mining centralising now? Now we've come full-circle to my original thesis: this is a short-term phenomenon that I predict will slow and eventuall
by omginternets 12y ago
>Well, why's mining centralising now?
Now we've come full-circle to my original thesis: this is a short-term phenomenon that I predict will slow and eventually reverse.
I'm still unclear as to why this shouldn't be the case.
- davidgerard 12y agoAs I just said: > Also, computing power per watt requires ASICs to compete.
- omginternets 12y agoThen I don't understand... could you please explain what you mean? I'm not familiar with the term ASICs. EDIT (since I can no longer reply): ASICs should only offset the point at which it becomes feasible for common-denominator computers to participate. I fear we may be talking past each other...
- davidgerard 12y agohttps://en.wikipedia.org/wiki/Application-specific_integrated_circuit https://en.wikipedia.org/wiki/Application-specific_integrate... Bitcoin mining started on general-purpose CPUs. Then people discovered they could compute more hashes per watt on GPUs. Then people realised that a custom circuit optimised just to perform that calculation would be most efficient, starting with FPGAs and then burning those circuits into ASICs. All mining that is feasible these days is done with specially-built ASICs, and even then the cost of mining 1 BTC (hardware and electricity) is hovering around 1 BTC.