113 sats \ 5 replies \ @harrr 25 Oct 2023 \ on: What if Bitcoin mining was ASIC-resistant? bitcoin
Not too much different, but ASICs allow for more security at lower cost. It's a good thing all in all, even if the barrier of entry might be a little higher.
Interesting point of view, but I tend to disagree. I mean, I get the cost-effectiveness and security arguments, but after every difficulty adjustments we're heading more and more towards highly centralized mining operations. It's true that nodes can still validate transactions in a decentralized way, but I would not the entry barrier just "a little" higher.
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ASICs don't magically create specialization, if we didn't have ASICs the other hardware would be specialized and increase the barrier.
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The path towards further centralization...
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I really like this discussion. It's just like the whole concept of Bitcoins intersection of economics and computersience all over again.
Like a tornado in a bottle in a tornado. lol
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Well, isn’t a discussion board like SN supposed to be intellectually stimulating? Or at least try ;)
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