The bitcoin mining game has changed

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ASCI or application integrated circuit machines have reached the bitcoin mining market. The first machine arrived at a miner’s home in late January, and since then, reports have been pouring in on shipped ASCI machines that found their way to Bitcoin mining platforms.

Because ASCI machines are specifically designed for the bitcoin mining mission, they are highly efficient machines for what they were designed for. Advanced ASCI machines have a hash rate of over 1 million per second. A typical CPU running bitcoin mining software has a hash rate of 1.5 seconds per second.

It goes without saying that the shipment of ASCI machines has changed the rules of the game in the bitcoin world. CPUs are no longer supported by Bitcoin mining software because a CPU that operates 24 hours a day will likely not see Bitcoin for several years, even if it has been mining in a pool.

The trend is favored by miners who also have thousands of dollars to use in the more expensive hardware, as well as early adopters of Bitcoin mining who likely had huge profits from early mining efforts. These early profits can be converted into the latest and greatest hardware and hardware setup to continue generating Bitcoin well into the future.

These miners running relatively powerful GPUs are hardest hit by the ASCI development. The difficulty of successful mining of a block of Bitcoin has increased to a level that may make the cost of electricity outweigh the return that a GPU miner would see in Bitcoin from year to year.

All of these speculations are closely related to the stability of the Bitcoin price in the future. If Bitcoin stays around the current $ 30 level, innovation will continue to advance. ASCI contributed in part to the rally in Bitcoin over the past two months. The US dollar exchange rate for Bitcoin increased from $ 10 to $ 30. It’s hard to find an investment with this type of return anywhere on the planet, so it’s only natural that Bitcoin has attracted attention in recent days. But will this interest last? And if so, will this lead to more scrutiny and volatility than stability on a modern digital currency? Relative long-term stability is the one trait Bitcoin must define if it is to achieve the original goal of being a viable and competitive currency on a global scale.

Will Bitcoin transcend the current designation of a speculative instrument? The answer lies in a tangled web of variables that encompass a broad spectrum of humanity: politics, psychology, finance, fear, freedom, privacy, security, etc. Regardless of the outcome, it sure is going to be a great show.

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