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Article Reference: https://www.coindesk.com/no-concentration-among-miners-isnt-going-to-break-bitcoin

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12 replies
  1. DD
    DD says:

    There is no such thing as asic resistant coins.
    It is physically impossible to make an asic resistant chain. People will always build specialised circuits just for mining the particular algorithm. If you keep changing the algorithm or introduce some difficulties, the most you can do is discourage them, because their circuits are just for a particular coin. So if you change the software very often, they will have to change their gear very often as well. That might be a solution. Still monero has done this but look at the results. Nothing, still dominated by asic miners.
    Centralisation is indeed the biggest treat. The value of btc is given by security and decentralisation, if it wasn't that way, it would be called XRP 🙂

    https://news.bitcoin.com/report-claims-85-of-the-monero-network-dominated-by-asic-miners/

    Reply
  2. Crypto Ninja
    Crypto Ninja says:

    All good and well Andreas, you are a smart guy. However, the point is that Bitcoin is an outdated, old, slow, expensive and useless tech that uses half the worlds energy. Is it really that hard to see that XRP and Cardano are the future of Blockchain. Anyone that understands the tech behind this space knows BTC will be used as a collectors item only for people that want to pay 10K just for the famous name. Cardano will soon be more decentralised that BTC and it actually functions as Crypto should. XRP cannot be 51% hacked either.

    Reply
  3. Seth
    Seth says:

    What if the particular party or Country with majority control goal was to hurt the US , oh wait with what's coming out with the spying and infiltration / stealing information validates the fact .

    Reply
  4. DD
    DD says:

    Hey hey heyyyyyyyyy! Hi Heidi. Here in Italy stores are empty, people panic because of the freaking virus, lol.
    I guess this is good for bitcoin ha ha

    Reply

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