The future of mining

[Justine]

Asic mining has hit technology cap.

There is little room left for whale to sequence what little profit margin left.

[deebob]

Heres my prediction, as history follows:

1. GPU
2. ASIC race
3. ALT ASIC race
4. Ego friendly ASIC race
5. Ego friendly ALT asic race

or just fuken buy it right now, if you know it was $5 at 2 years ago

[Harley997]

Asic mining has hit technology cap.

There is little room left for whale to sequence what little profit margin left.

ASIC is far from the technology "cap"

There have been great advances in both ASIC technology and technology in general in only the past 5 years (ASICs have not been around that long but for technology in general, and in one year for ASICs).

It would be very unlikely that ASICs will not become more efficient both in power consumption and total hashpower that a single machine can produce.

[Acidyo]

It might be too far off for most to really care about, but still.
When difficulty becomes so high that mining is only possible by hugely invested companies,
isn't it very likely that there will eventually be only a few companies capable of mining, possibly just one?
If becomes a line of business almost impossible to get into, but easy to go bust in.

Remember that 90% of all coins will be mined in 2018 and 99% in 2040, don't think people will be fighting over mining such low block rewards after that.

[Harley997]

It might be too far off for most to really care about, but still.
When difficulty becomes so high that mining is only possible by hugely invested companies,
isn't it very likely that there will eventually be only a few companies capable of mining, possibly just one?
If becomes a line of business almost impossible to get into, but easy to go bust in.

Remember that 90% of all coins will be mined in 2018 and 99% in 2040, don't think people will be fighting over mining such low block rewards after that.

At that point the mining rewards will primarily consist of TX fees witch will hopefully have increased significantly by then.

[Benjig]

Perhaps it will be used to solve different algorithms besides of bitcoin but of course in the future , mining will be such a huge industry, a billion industry

[Newar]

He, who has the lowest electricity bill and lowest auxiliary costs (cooling, rent/building a DC etc.), wins.

[siamesecoin.com]

Id say x11 - that why we will release such coin on this algo.

[Harley997]

Id say x11 - that why we will release such coin on this algo.

The problem with mining with those algos is that you need to invest very little in order to earn a high percentage of the rewards as a percentage of the market cap of the coin.

This makes it easy to execute a 51% attack (based on cost).