Asics miners made mining centralised. Some cryptocurrencies adopted asics resistant algorithm but as far as I know they aren't that famous.
The problem for bitcoin is that asics are expensive and for more profits you have to own several ones which require a huge investment which isn't possible for everyone.
Topic: Mining BTC is centralized. - page 2. (Read 397 times)
- I don't know where you live but anywhere in the world that I can think of, when you want to start a business/company and produce and sell stuff to people you need to apply for some sort of "permit" or "license" to run your business. this has nothing to do with bitcoin mining
- then if your company starts scamming people, your "permit" can be revoked and you have to answer for your crimes in a court of law. unless of course you live in a lawless country! again this has nothing to do with bitcoin mining
- number of companies producing hardware doesn't make mining centralized!
- the companies are producing hardware not controlling POW. if they want they can (like anybody else) start a farm, spend money and electricity and pay employees,.... to have hashing power and that is how PoW works, it doesn't give any advantage to the producers compared to others.
Its our time to explore more decentralized and greener mining alternatives.
and we are all ears for real suggestions not imagination. and we need to see actual proof of the suggestion working not some hype about some altcoin that uses a different method without any tests to prove its superiority.
Why is everyone avoiding this problem? Everyone should be concerned about this.
Its our time to explore more decentralized and greener mining alternatives.
- Companies are required to apply for a permit to make ASIC
- The state can withdraw those permits
- Less than 5 companies make ASIC
- Those companies can work together to control all Proof of Work ASIC mining
Its our time to explore more decentralized and greener mining alternatives.
Jump to: