The Bitcoin Mining Game Has Changed
ASCI or application-specific integrated circuit machines have arrived in the Bitcoin mining market. The very first machine arrived at a miner’s home at the end of January and ever since reports have been trickling by shipped ASCI machines finding their way into miner’s Bitcoin mining rigs.
Since ASCI machines were created especially for the work of mining Bitcoin, they are successful machines at what they’re built to do. Top end ASCI machines have a per second hash rate well over A million. A normal CPU running Bitcoin mining software includes a per second hash rate of just one.5.
Needless to say the shipment of ASCI machines happen to be a game title changer in the Bitcoin world. CPUs shall no longer be even supported by Bitcoin mining software must be CPU running Round the clock may likely avoid seeing a Bitcoin for several years, even though it was mining in the pool.
This trend favors those thinking about mining who also happen to have thousands of dollars lying around to be used on expensive hardware, as well as the early adopters of Bitcoin mining who have likely designed a hefty make money from their early mining efforts. Those early profits might be rolled into the latest and greatest hardware and rig setup to continue generating Bitcoins well to return.
Those miner who’re running relatively powerful GPUs are increasingly being hit the worst through the ASCI development. The problem in successfully mining a block of Bitcoin has risen to some level that may result in the expense of electricity outweigh the payout a GPU miner will see in Bitcoin from year to year.
All this speculation is tied heavily for the stability with the expense of Bitcoin in the years ahead. If Bitcoin stays around the current 30 usd level then innovation continuously progress. ASCI simply has brought about the rally that Bitcoin has witnessed over the last 2 months. The USD exchange rate for Bitcoin has soared from 10 usd to 30 usd. It’s hard to find a good investment your sort of return anywhere on the planet, therefore it is natural for Bitcoin to become drawing attention in recent days. But will this attention last? And if so does it bring more scrutiny and volatility than stability about the young digital currency? In the long term relative stability may be the one trait that Bitcoin must establish if it is to complete the first goal of as being a viable and competitive currency on a world scale.
Same Bitcoin transcend the present label of speculative instrument? The answer is in a tangled web of variables including the broad spectrum of humanity: politics, psychology, finance, fear, freedom, privacy, security… etc. No matter the outcome it’s sure to be described as a fascinating show.