Topic: BTC Hardware Rant (Read 425 times)

This is the point guys, we always talk that bitcoin is decentralized but how? There are still cartels controlling mining activities and hardware companies. They're controlling people at the same time. Mining and storage should be free. Fee or other things are belonging to a centralized mechanism.

Exactly so these manufacturers need to get their head out of their ass and start actually "growing the chain" or they will kill the bitcoin, and then they will make no profits at all anymore, all because of their own idiocy.

At that point Bitcoin would have failed and it would be time to move to another alt coin. Or alternatively, to fork off the main chain with a new proof of work algorithm and go from there.



I'm doubtful that this will actually happen, but it would be great news for Bitcoin if mining would once again become more accessible for the regular consumer. Big miners will continue to control large parts of the network either way, due to economy of scales and cheaper electricity, but at least hobbyists would have easy access to proper hardware again.

This is going to change in the future. The bigger hardware manufacturers like AMD and Intel are looking for new markets. If the market for Bitcoin or Crypto currency mining is big enough, they will expand their range of cards that are specifically targeted at mining. We might see these giants going head to head with Chinese ASIC manufacturers.

As mining gets cheaper in Russia and other countries with subsidized electricity, we might see a higher demand for ASIC's and these Chinese manufacturers might be pushed to manufacture more units or the competition might deliver on their failures.

Don`t mine bitcoins,just mine altcoins and find another way to earn bitcoins.
Perhaps there might be some cartell between the big miners and mining hardware companies.
This is the biggest downfall of the blockchain.What if mining becomes so centralized,than only one big mining company remains and controls all the transactions?They can say "Pay 25% fees ,or we will stop mining and confirming transactions."What happens with bitcoin,if there are no transactions?

sadly im not entirely sure how exactly that works. I would have to set up those miners and find software myself right? do you have any suggestions for a good newbie guide to that?

 I started mining BTC when it could be done in a web browser.  I was one of the early adopters of Butterfly Labs and that got me my foothold into ASIC mining.  Having said that, I do agree with you that the current mining hardware setup favors large entities as opposed to enthusiast, but at least there are other coins out there that are ASIC resistant.  I'm mining Ethereum on NVidia ATM. 

I started this rant in another section but this caused the conversation to veer off from OP intent so I started this new one to discuss how hardware in the chain is sold.

The biggest problem I have about the way hardware is sold is that. 1 of the biggest perks of bitcoin is its suppose to be a financial system run by the people. I originally got into it because I loved the idea of a system away from the corruption and scheming of banks and government. But when you have a system that shits on the little guys and only rewards the people who can buy mass quantity, its no longer a system run by the people it is now a system run in majority by the rich. This basically makes BTC like every other currency where the few dictate everything. The only perk it has now is the Anonymity and that only depends on where you live and even then with all the scams and theft out their, this causes just as many problems as it does solutions.

I have no problems with the people who have been doing this for years and have stockpiled and generated from being early investors. its just if people can literally be spamming the webpage from the moment it goes in stock and still not able to get a single machine, its no longer a currency run by the people and in fact goes against everything I would of thought bitcoin standed for. I just think Bitmain Canaan and all other hardware suppliers should prioritize selling few machines to many over alot of machines to few and let those who want to buy 60 machines + have to pay the premium prices instead of the little guys who just want 1 or 2 machines each release.

You hear slogans like "Grow the block chain" but if your only selling machines to the few, how does this help "grow the chain"? I have only been in this for a year so maybe im not fully understanding the system as well as some, however if in the end you wind up with only 100 or so people with all the machines does this not destroy the whole BTC system? without a vast network of DIFFERENT people verifying transactions it opens the network up to so many issues does it not?

anyways.. that's my rant feel free to post opinions weather they agree with me or not, maybe you guys can make me understand this. General point im trying to make in all this is. The needs of the MANY should out way  the needs of the FEW (patent pending), and the manufacturing needs to stop catering to the bigwigs and share some love with us little guys who just wana grow by 1 or 2 machines a month without having to pay the bigwigs $3000 for a machine!