Re: Why ASIC's Should Not Be The Future Of Crypto Currencies
I guess you just want free money thrown at you then?
Don't be ridiculous.
No one said anything about free money.
The OP was trying to say that ASICs will further exclude "any schmuck" from being able to afford the initial investment to earn money. leading to centralization of financial power into the hands of fewer entities. This is certainly true and the progression is already well underway. Is it good? Is it bad? I don't know. I know my place in the pyramid though and it's no where near the top
I'm not bitter. I got a free lunch from bitcoin for a very very long time. If/when that comes to an end, I'm well fed and happy to have been able to have been able to participate in it. Being a socialist, It will be sad to see the any schmuck aspect of bitcoin come to an end. But I love a good drama, and the bitcoin drama level is especially high. I expect interesting drama to unfold in the final months of 2012 and into 2013.
I just think it's hilarious that FLHippy and Benator are going on and on about how ASICs are ruining the world and de-equalizing the mining playing field when that simply isn't true at all. Anyone could invest in ASICs, just the same as anyone could invest in FPGA's or GPU's. And just like FPGA's and GPU's, the higher the investment, the higher the revenue (duh!). Anyone who expects the world to work any differently than that under any circumstances is deluding themselves.
And where/how does "greed" and "elitism" come into play? Just because people are trying to generate extra income doesn't mean they are greedy or elitist.
Oh, and the kicker: FLHippy mentions PPCoin, which just so happens to have the focus and hope of turning towards proof of stake in the future. If there's any system that works to make the rich richer, proof of stake is IT! And somehow, FLHippy is SUPPORTING it!
