Future of mining | Bitcointalksearch.org

ByteCrunch

newbie

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Quote from: GMPoison on August 31, 2017, 01:59:45 PM

Quote from: ByteCrunch on August 31, 2017, 03:58:16 AM

What will happen to Bitcoin mining when ASIC miners will reach their physical limits and there will be no room for improvements?

I think by the time that happens the technological singularity will have happened, and all of humanity will already have been doomed.

Hahaha really? I guess this will happen sooner Grin

yugyug

sr. member

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The only way around when the future of ASIC miner has reach its physical limit is to increase its miner quantity but the tendency of mining hasa very thin margin of profit due to high electricity cost. Bitcoin mining farm is more power hungry combined than a data center of Apple or IBM supercomputers. Besides it is not also an environment friendly but mining capitalist and investor don't care about that, as long as they have profit, same goes with other mining practices like coal or nickel.

xoibsurferx

newbie

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I wonder about the future of mining as well and I'll break this into two sections.

Bitcoin: As someone else mentioned there seems like there will be a point where the hardware will physically max out and then what? Will something better come along and mining will become profitable again or will only heavily invested people with money for the high dollar mining hardware be able to mine? I'm assuming the home miner with less than five miners will not be able to mine and be profitable.

Ethereum/alt coins: I'm currently exploring getting into mining and thought hard of going this route instead of the bitcoin route. BUT will alt coins such as Ethereum ever catch on? Bitcoin has as many retailers are beginning to open up to he idea of accepting bitcoin and even the news features the bitcoin stock prices. But you never heard about Ethereum or any of the other altcoins so is it worth it to jump into altcoin mining? Will the future be bright for mining altcoins?

reflector

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Quote from: drubas on August 31, 2017, 04:05:11 PM

According to my perspective mining will remain but slightly change.

Technologies such as Filecoin, Truebit or Golem etc. probably will keep the demand for "mining" high.

Mining as a waste of energy will vanish and common currencies will go to "proof of stake" (e.g. Ether).

All the best

B.D.

Still some of the miners being caught by the government and CBI. I don't why they are making bitcoin business as legal here. If that happen we all can do that independently with out any fear do mining at any location in my country. Future mining will completely turned a solar mining or other green energy mining platform and updated miners will come.

drubas

newbie

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According to my perspective mining will remain but slightly change.

Technologies such as Filecoin, Truebit or Golem etc. probably will keep the demand for "mining" high.

Mining as a waste of energy will vanish and common currencies will go to "proof of stake" (e.g. Ether).

All the best

B.D.

GMPoison

sr. member

Activity: 434

Merit: 250

Quote from: ByteCrunch on August 31, 2017, 03:58:16 AM

What will happen to Bitcoin mining when ASIC miners will reach their physical limits and there will be no room for improvements?

I think by the time that happens the technological singularity will have happened, and all of humanity will already have been doomed.

uDwcHYO

full member

Activity: 363

Merit: 100

I think the share of mining will decrease, because this is simply the primary way of spreading the currency at this moment.
In addition, there are other ways of honest distribution and I think there will be more options in the near future.

HeRetiK

legendary

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Cashback 15%

Quote from: ByteCrunch on August 31, 2017, 03:58:16 AM

What will happen to Bitcoin mining when ASIC miners will reach their physical limits and there will be no room for improvements?

What do you expect to happen?

Bitcoin's hashrate will reach a more or less stable plateau, with miners finding new ways to cut operative overheads. The hashrate will stop growing and only adjust if a new equilibrium of hashrate and block reward / fee market / BTC exchange rate / electricity cost needs to be found.

risk91

full member

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Quote from: Deus_ex_mach1na on August 31, 2017, 04:09:05 AM

Quote from: ByteCrunch on August 31, 2017, 03:58:16 AM

What will happen to Bitcoin mining when ASIC miners will reach their physical limits and there will be no room for improvements?

i think most of future cryptocurrinces will be mining by POS

Bitcoin mining has bright futureb if you have loads of mony to spend. Before investing in mining. But frost you understand what is it and how it is done. So befor uing kindly got the more information fo the mining. Once you understand you will inprove and get the more invest ment for the futur.

Deus_ex_mach1na

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Quote from: ByteCrunch on August 31, 2017, 03:58:16 AM

What will happen to Bitcoin mining when ASIC miners will reach their physical limits and there will be no room for improvements?

i think most of future cryptocurrinces will be mining by POS

ByteCrunch

newbie

Activity: 24

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What will happen to Bitcoin mining when ASIC miners will reach their physical limits and there will be no room for improvements?

Topic: Future of mining (Read 972 times)