Oh... and philipma1957...
Let me state my position on ASICs definitively...
ASICs are not the enemy of centralization. They are just a more efficient tool. Pools are the enemy of centralization.
If you want a truly decentralized ecosystem, you have to make it anti-pool... not anti-ASIC.
I 2nd this comment. Countless coins have had their profitability destroyed by pools like zpool.
Zpool , mining-pool hub, nice-hash drive all towards Btc.
If banned and rendered non existent you need an exchange to turn coin to btc.
If you want to be private most exchanges prevent this.
I can mine ETH on nicehash with a core wallet direct to btc and stay anonymous for years.
Same on Zpool.
Take the exchange pools out I have to hold the coin I mine . Many don’t want that risk.
Many won’t hold 1000 BTG.
But they will hold 5 BTC.
Asics builders kill coins because they can build more gear then any coin can support.
Gpu builders don’t kill coins because gpus are mixed use.
Anyone that fails to see dumping every bicycle in the world because motorbikes are faster fails to see the full picture.
But. What do I know not much as I see but a piece of the puzzle.
I am for some asics
I am for some FPGAs
I am for some Gpus
I am for some CPUs
To mine various coins and algos
Just as I am for
Bicycles
Motorbikes
Cars
Trucks
Buses
To take care of various transportation needs
I get that, but my problem with them isn't dumping the coins for btc. One pool selling coins isn't going to drive the market down.
The real issue is when they have 10-15 coins per algo, mine on each coin when the difficulty is low, once the difficulty skyrockets they move on to the next coin. They currently have 11 TH/S on blake2s right now, with 5 different coins. They will put 100% hashrate on a tiny altcoin until the difficulty on another one goes down. Talk about centralization. They control way over 51% of the hashrate on many coins.
That is why they are shit coins
New Algo= 1 New-coin = fine
New Algo = 5 New-Coins a,b,c,d,e = shit coins and shit developers because of the flaw you point out.
also just think if there was a crypto rule 1 coin for an algo vs 10 or more coins per algo
that has a separate set of problems one being you can not enforce it.