Huh ?
It's just a greedy race for money.
If I had a 60GH asic today; I would earn 30 BTC a day i.e. $10,000 a month.
Now wonder why everyone wants one.
What, exactly, is your definition of greed? Is wanting money a bad thing?It's just a greedy race for money.
If I had a 60GH asic today; I would earn 30 BTC a day i.e. $10,000 a month.
Now wonder why everyone wants one.
Money is certainly the main incentive for INDIVIDUALS to invest in ASICs, but as a COMMUNITY, the reason we should support investments into ASICs is to further protect the network.
Thanks for your answers... So, are we as a community then responsible for bailing out failing MINER enterprises?
What? This made no sense. I think you should read a bit more.Yes, it made sense. It just feels like and attacker an community have different objectives (No, doh!)
BUt consider this scenario...
The attacker has enough resources to build a network of the BTC size. To get it this 1% to take over, it compromises a "legit" mining operation.
The owners of the operation do not have enough money to address the issue.
It seems like bail out is needed, or some sort of insurance...
But, at this point, an attacker would have to compromise the top 5 pools to have > 51% of the total hashing power (see the chart here: http://bitcoincharts.com/), which would undoubtedly be an extremely difficult thing to do. On top of that, as soon as members of the pool knew it was compromised, they'd simply switch to a different pool, leaving the attacker without the hashing power he needs to continue carrying out the attack.
