Post
Topic
Board Hardware
Re: Risk of ASIC proliferation
by
bonker
on 18/01/2013, 23:56:08 UTC
As the ASIC miners start mining, and "outdated" miners go offline, does this not pose a risk to the network in the sense that there are fewer overall miners?

The network as it stands now is far more distributed amongst a greater number of computers & hardware mining. If the majority of these go offline due to obsolescence, in essence there would be a centralization of power to a far fewer number of miners.

Although the network hash rate will be significantly higher, the number of people involved will greatly reduce. Does anyone see a risk in this? Perhaps if the ASICs develop hardware issues in the future (I hope not) and cease mining operations, I would think the network would be very vulnerable to an attack. Granted, difficulty would drop and "regular" miners would return in a balancing act.

Is the efficiency and hash rate increase worth the trade off of a less distributed mining network?

The way I see, if the do exist then latest-gen ASIC's are going to be kept by the people that made them, for obvious reasons.

Mining will be done by a few corporate bodies and I suppose the entrepreneurs will shift focus to the service side of things.