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Topic: [2014-06-15] coinbrief: Unprecedented: Bitcoin Mining Network Exceeds 100 PH/s (Read 5686 times)

legendary
Activity: 2408
Merit: 1121
At 100 PH/s , I think Bitcoins biggest downside is all the wasted electricity unfortunately most miners won't have access to cheap electricity like geothermal.

I think the real downside is how poorly people understand what mining does.

"Wasted", my ass.
legendary
Activity: 3766
Merit: 1217
This means that individual mining using GPUs and ASICs is no longer profitable. Only the large institutional-sized mining firms will be able to mine Bitcoins, without incurring huge financial losses.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
we already hit 130 PH/s some hours ago...thats 30% more in just 5-7 days...  Shocked
sr. member
Activity: 364
Merit: 250
At 100 PH/s , I think Bitcoins biggest downside is all the wasted electricity unfortunately most miners won't have access to cheap electricity like geothermal.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
Unprecedented: Bitcoin Mining Network Exceeds 100 PH/s

http://coinbrief.net/bitcoin-exceeds-100/

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