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Author Topic: Self-Mining soon dead?  (Read 892 times)
SebastianJu (OP)
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September 13, 2013, 10:02:21 PM
 #1

Hello,

i think the situation bitcoin now is in, with the enourmous amount of TH bound in preorders plus the many mining farms and on top the securities that will create miners and farms with their own ASIC-Design will lead to the point that no enduser that buys hardware now or in the next months will break even. It could even be that securities with their own miners come in danger since all the preorders cant be justified beforehand. So normal buyers of asics will mine with hardware that will never roi and maybe bring such securities in problems with doing so. Simply because of the mass of TH coming online.

At the end i await that a couple of big companies are sharing the mining market. Endusers dont have a chance anymore with their, of course, overpriced hardware.

The only way out of this, that i can think of, is an open source ASIC. So that everyone can practically get Miner at cost. Of course it wouldnt be fully perfect since again a company would be involved to create the miner.

What do you think how this can be solved?

Sebastian

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mgio
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September 13, 2013, 10:06:28 PM
 #2

You can't open source an ASIC. It's not the design that is expensive. It's the production.

If mining isn't economical for individuals, it's not going to be economical to large companies either. That is why we have dynamic difficulty.
SebastianJu (OP)
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September 13, 2013, 11:44:03 PM
 #3

You can't open source an ASIC. It's not the design that is expensive. It's the production.

If mining isn't economical for individuals, it's not going to be economical to large companies either. That is why we have dynamic difficulty.

The difference is that the companies, that can create asics, are selling them for very high prices. So that buyers wont ROI. The company itself can roi since they only have the production cost, a customer would pay much more of course. Otherwise it wouldnt make sense to sell the miner.

If the production is the expensive part then there might be a solution. What about a groupbuy collecting bitcoins. Then paying the design with it and with the rest of the money chips are ordered. Everyone gets so many chips like he put partially bitcoins into the project.

At the end every investor has his own chips and the design is there. Of course if would make only sense if many people invest so that each investor can get relatively many GH and doesnt have to pay much for the design partly. So that every initial investor gets his reward. The chip design could be open sourced then and future orders of course wouldnt be so profitable anymore. Thats why every investor would put most of his money in the first investment.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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