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04 Feb '13, 2pm

Bitcoin grows up, gets its own hardware

Bitcoin grows up, gets its own hardware

The big news in the Bitcoin world is that there are several Bitcoin-mining ASICs (custom chips) already shipping or about to be launched. Avalon in particular has been getting some attention recently. Bitcoin mining moved long ago from CPUs to GPUs , but this takes it one step further. The expectation is that very soon most mining will be done by such specialized hardware; general-purpose machines will be too inefficient to be profitable. This development raises a whole host of interesting questions. First, if ASIC mining is indeed so much faster than any current method, and can recover the hardware cost in just a few days as claimed , why are the creators selling them, or even talking about them?! Why not keep the existence of these devices a secret and mine as much BTC as possible before the world catches on? After all, the costs of packaging and distribution will only d...

Full article: https://freedom-to-tinker.com/blog/randomwalker/bitcoin-g...

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Direct use value of Bitcoin

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