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Andreas Antonopoulos tweetstorm on mining centralisation

a guest Mar 14th, 2016 2,877 Never
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  1. 1/ 100,000 x increase in performance from CPU to ASIC created exponential centralization in bitcoin mining
  3. 2/ Once we got to 16nm ASICs, the exponential performance increase is over. Now Moore's law is "slow" by comparison, 2 x every 18 mo.
  5. 3/ The halving will be the last straw wiping out anyone not at or near Moore's law optimum efficiency/density. One upgrade cycle from parity
  7. 4/ After which, mining centralization may stop or even reverse itself. Operating risk, power risk, become bigger factors
  9. 5/ Consumer level mining at large scale re-appears, as it decentralizes risk of access to reliable electricity & everyone has same ASICs
  11. 6/ Bottom line: The recent past in mining is discontinuous and not predictive of the short term future of mining. Moore's law = great wall
  13. https://twitter.com/aantonop
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