daily pastebin goal
64%
SHARE
TWEET

Andreas Antonopoulos tweetstorm on mining centralisation

a guest Mar 14th, 2016 2,877 Never
Not a member of Pastebin yet? Sign Up, it unlocks many cool features!
  1. 1/ 100,000 x increase in performance from CPU to ASIC created exponential centralization in bitcoin mining
  2.  
  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.
  4.  
  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
  6.  
  7. 4/ After which, mining centralization may stop or even reverse itself. Operating risk, power risk, become bigger factors
  8.  
  9. 5/ Consumer level mining at large scale re-appears, as it decentralizes risk of access to reliable electricity & everyone has same ASICs
  10.  
  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
  12.  
  13. https://twitter.com/aantonop
RAW Paste Data
We use cookies for various purposes including analytics. By continuing to use Pastebin, you agree to our use of cookies as described in the Cookies Policy. OK, I Understand
 
Top