Bitcoin Forum

What do you think about ASIC machines? What is your opinion?

Recently, new ASIC machine creates big impact on all CryptoNight algo-based projects. This type of new ASIC machine claims above 20 KH/s with 60 W electric power or 220 KH/s with 550 W electric power.

Of course ASICs have huge impact on mining conditions. But I think PoW mining is an obsolete technology so it will come to an end in the near future.

At least presently or at the foresee future, PoW will remain one of the major ways to realise the decentralisation. Of course, big farm actually delivers an opposite result. This is actually one of issues with big farm and/or ASiC mining machine with either positive or negative impacts.

I would disagree, as crypto becomes more and more in to the public eye there will be increased pressure to move away from unfriendly methods such as POW and towards cleaner methods such as POS. Although you can argue both ways it would be nice if when you said 'cryptocurrencies are more environmentally friendly than paper money' there would be no comeback whatsoever.

Thanks for your opinion. It is true that PoS consumes less energy than PoW, but some energy consumption better guarantees safety of coins and decentralisation. It gives more people fairer chance to access and to obtain the wealth based on their economic conditions. Some consumption of energy may not be a major problem because nowadays 50% human activities may not be required (e.g. one person drives one car and numerous wastes on unnecessary products) in terms of energy consumption. To search renewable and green energy supply will be the real key to achieve environmentally friendly sustainability for human beings and decent living standards. Of course, the blockchain technology is not just in cryptocurrencies, but also an innovation;e.g. in safer and more private communications via internet.

You're right, if renewable energy can be found then there will not be a problem with POW and it will then be the preferred method. Until that date comes there will be pressure to move away from POW and it doesn't seem like it will come all too soon. It's the skeptic in me speaking but I wouldn't bet that there isn't already a renewable energy source that's been discovered but is being kept hidden so the large corporations can continue to profit.

If you know that cryptonote coins work on difficulties, the more the hash rate is more the difficulty is, So ASIC machines can help coin developer to stable the price and only mining at low difficulty will get a benefit in an early stage.

i dont have a problem with asic since 2-3 years from now POW will be dead

It depends on what type of project is, I think. It may be helpful to spread coins into the market at the early stage for some projects, but it has very negative impact on those projects targeting to mobile phone mining and video mining.

It likes a game of Cat and Mouse.