The game of bitcoin mining has changed


Machines with an ASCI integrated circuit or special applications have arrived on the bitcoin mining market. The first machine arrived at the miner’s house in late January, and since then there have been reports of shipped ASCI machines falling into mining-bitcoin-mining.

Because ASCI machines are designed specifically for the task of bitcoin mining, they are very efficient machines for what they are designed for. High-end ASCI machines have a hashing rate of more than 1 million per second. A typical processor with bitcoin mining software has a hash rate of 1.5 per second.

It goes without saying that the supply of ASCI machines has changed the game in the world of bitcoins. Processors are no longer even supported by bitcoin mining software because a processor that runs around the clock is unlikely to see bitcoin for several years, even if it is mining in a pool.

This trend is conducive to those who are interested in mining, and who have thousands of dollars lying around for use on expensive equipment, as well as those who have taken on bitcoin mining, who have probably benefited considerably from early mining efforts. These early earnings can be transferred to the latest and largest hardware and installation settings to continue generating bitcoin in the future.

Those miners who run on relatively powerful GPUs have suffered the most from the development of ASCI. The difficulty of successfully mining a bitcoin unit has increased to a level that can make the cost of electricity outweigh the payouts that a GPU miner will see in bitcoins from year to year.

All of this speculation is largely related to the stability of the value of bitcoin in the future. If bitcoin is around $ 30, innovation will continue to evolve. ASCI has partially contributed to the stock that bitcoins have seen over the past 2 months. The USD exchange rate against bitcoin rose from 10 to 30 US dollars. It is difficult to find investments with such a return anywhere on the planet, so it is natural for bitcoins to attract attention in recent days. But will this focus continue? And if so, will it bring more vigilant control and volatility than the stability of a young digital currency? In the long run, relative stability is one of the traits that bitcoin must establish to achieve its original goal of becoming a viable and competitive currency globally.

So will bitcoin go beyond the current speculative instrument brand? The answer lies in an intricate network of variables that include a wide range of humanity: politics, psychology, finance, fear, freedom, privacy, security … etc. Whatever the outcome, it will definitely be a fascinating show.