05 Oct '12, 11am

Butterfly Labs Offers Lifetime Warranty, ASIC Competition Surges On | Bitcoin Magazine

Butterfly Labs Offers Lifetime Warranty, ASIC Competition Surges On | Bitcoin Magazine

Bitcoin’s hashing power is likely to go up by at least a factor of 10 to about 200 terahashes per second, or 3 exaflops – likely the first use of the prefix “exa” (meaning 1018 ) ever to be employed in the computing world. Even billion-dollar government supercomputers are hard-pressed to match just one percent of that. From here, Essentially, this implies that the condition for overpowering the security of the Bitcoin network is changing. Formerly, all that one needed to do to overpower the rest of the network and gain the ability to pull off double spending frauds was to gain more hashing power than the rest of the Bitcoin network combined for a short amount of time. Now, of course, the same still holds, but doing so requires buying up large quantities of ASICs – in short, throwing in more capital investment than the rest of the Bitcoin network combined at least over the ...

Full article: http://bitcoinmagazine.net/butterfly-labs-offers-lifetime...

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