Quote from: cypherdoc on August 07, 2015, 02:02:33 PM

Quote from: jmw74 on August 07, 2015, 01:13:34 PM

Quote from: chriswilmer on August 07, 2015, 01:46:40 AM

Am I missing something? I can't think of a single way to design a system where it is economically advantageous to move away from centralization (where we are intentionally neglecting the possibility that bitcoins might be worth more in a more decentralized environment).

Heat dissipation, possibly.

A huge mining datacenter will produce a lot of heat, and may not be able to make efficient use of it.

Whereas, a million individuals with ASICs in their hot water heater, may be able to utilize close to 100% of the heat. Then their marginal cost to run the miner is close to zero. The difficulty would rise to make the marginal revenue close to zero also, but it would still be an advantage to decentralized mining.

very good pt. also, those small asics will dissipate the heat much more efficiently even if they can't utilize it.

rofl, keep dreamin.