did ASIC ruin bitcoin ?

[WEB slicer]

go look for gold with hand and pan while big money uses dynamite and excavators and tell me if its worth your time.

[knight22]

go look for gold with hand and pan while big money uses dynamite and excavators and tell me if its worth your time.

Same is true with ASIC

[viboracecata]

half right, ASIC IPO will ruin bitcoin

[WEB slicer]

bitcoin is good, ASIC and big greedy companies is bad.

[gadman2]

It does if you're one of the 97% of people at this forum who are in it for the potential UDS profits

[smscotten]

I love how profit becomes evil at exactly the moment that someone else is making it. As long as I am making profit, it's healthy and good.

[JoelKatz]

I love how profit becomes evil at exactly the moment that someone else is making it. As long as I am making profit, it's healthy and good.

"It's because of these evil, greedy people that I can't make a huge profit with minimal effort."

[barbarousrelic]

Bitcoin != mining

Indeed. ASICs made Bitcoin far better, but they made mining less profitable. But the general purpose of Bitcoin is not to make money mining. It's to have a secure independent quasi-anonymous trust free online currency system.

[crazy_rabbit]

Something about "worthless" and "big money" being in the same sentence is ringing as dissonance in my ears.

they will make the money and bail just like mining for gold oil or diamonds in third world countries. they will be there when its profitable and fuck you when they cant make no more off you.

What about when there are 0 btc left to be mined? Imagine we are in 2141. Are you happy with mining for TX fees?

why not? When 2141 rolls around and BTC is the world currency and mining for TX is highly profitable.

[elor70]

It ruined gpu mining

[ninjarobot]

[yolo2222]

Whos that ASIC guy? I keep hearing his name 

[johnyj]

The only sure winner are those chip manufacturers like TSMC

[tonto]

I'm saying it sounds like OP's complaint is that he can't earn money mining Bitcoin.

This.

[WEB slicer]

i am making money with BTC. i have been making money with BTC. i will continue making money with BTC. even if not mining.

however, like many of us i have invested in ASIC. and when the difficulty shits on my return i am well within my right to cry bitch or moan.

[westkybitcoins]

i am making money with BTC. i have been making money with BTC. i will continue making money with BTC. even if not mining.

however, like many of us i have invested in ASIC. and when the difficulty shits on my return i am well within my right to cry bitch or moan.

Did you buy those ASICs with the expectation that the difficulty wouldn't skyrocket???

Sounds like the problem is with the company you chose to purchase from, not with the devices that offer greater hashing rates for less energy expenditure (since you chose to purchase one.)

[WEB slicer]

i knew it would go up but not like this. look at this chart. it makes mining very unattractive.

http://bitcoindifficulty.com/

[adworker]

ASIC making Bitcoin more secure. Bigger difficulty = more secure = better.
But im not biased because i dont mine

[smscotten]

Sure, the difficulty is high. As a fellow miner, I empathize. I'll hoist a glass of beverage and reminisce about the "good old days" or whatever. But you have to realize that that is not what you asked. The poll asks whether ASICs ruined Bitcoin, which if you'll forgive my bluntness is childish and petty.

ASICs have made it more possible for anyone to participate as miners, not less. They have also made it more difficult for miners to be professional miners. Most of us won't quit our day jobs, and a very small number of us will have huge self-sustaining farms. That is as it should be. Bitcoin was not invented to give us a free lunch, it was invented to give us a free economy.

[The 4ner]

when you spend up the ass for the equipment it takes months to deliver and when you have the equipment in hand the difficulty is so high you risk losing money cause you cant make ROI i think that makes bitcoin look like a joke and a huge gamble thus making bitcoin less attractive and could lead to panic selling and collapse.

Does it really matter though? The difficulty was bound to rise either way the more coins were produced. The only inconvenience ASICs caused was not being able to make the late comers rich.