So if these are legit, won't this totally change the face of mining? I mean, GPU mining did it once, and it's going to happen again. Mining efficiently will become a serious investment.
That is the whole point of advancement... To advance... and Grow...
Without advancement, you fail to provide what is commonly called, "supply".
Yes, it will alter the market.
- Faster transactions
- More stability in value
- Harder to hack, and disrupt, once again
- Reduced overhead losses from "electric" expenses, which is the greatest overhead at the moment
Will that kill GPU processing?
- No, new cards come out all the time
- They are still profitable as-is
- They can still make money from "transaction-fees"
- They can still mine new and emergent "parallel" systems to balance the existing advanced "bitcoin" market
- They can be re-sold for, um, actually playing games, giving money to those for the "advanced" rigs of tomorrow
It is not a total loss... they have had over a YEAR to prepare for the inevitable, and make provisions for advancement.
It is not like we are just going to wake-up tomorrow, and poof, a million 1000GH/s machines are going to be online. They are slowly rolling out, which continues to add to the stability and lower the "shock", while allowing the market to self-regulate and expand.
You also imply that $120 USD bitcoins are some-how actually justified. That value only exists because of GPU processing. Just as $1000USD per BTC will be the new level of "justified value", once the volume of transactions picks-up.
