Quote from: AlexGR on May 08, 2016, 06:24:53 PM

Quote from: BitconAssociation on May 08, 2016, 03:02:22 PM

Quote from: AlexGR on May 08, 2016, 02:50:22 PM

Quote from: BitconAssociation on May 08, 2016, 02:41:59 PM

Quote from: AlexGR on May 08, 2016, 02:39:20 PM

Quote from: BitconAssociation on May 08, 2016, 02:31:02 PM

Quote from: Kprawn on May 08, 2016, 02:23:20 PM

USA can dominate the ~~Bitcoin~~ Beanie Babies scene tomorrow... They just have to shift a small percentage of their war funding to ~~Bitcoin mining~~ Beanie Babies production and focus Silicon valley

development on ~~ASIC chip~~ Beanie Babies manufacturing and they can dominate the scene. You chose your own battles... Wink

FTFY. US government is not going to subsidize electricity to make a few guys rich when they turn it back into heat

They don't need to subsidize anything. Just sell superior hardware. Those that have access to cheap electricity will figure out the rest.

So this superior hardware will go to China? How will this affect centralization??
If shovels are made in New York, would you pan for gold in Manhattan?

We don't have to theorize on what would happen. GPU mining, for example, never became centralized in China despite the lower electric costs there.

Of course we have to theorize, otherwise this is a pointless conversation.
GPU mining was never centralized in China because Bitcoin's market cap was laughably small, because the power consumed was a fraction of the rig's cost, because people mining were weirdo hobbyists like me, who ran FurMark as an alternative, and because buying BTC directly was always more profitable.
Please.

1. GPU mining for bitcoins is alive and well. But it has to be done indirectly, through altcoins. GPU =>altcoin=>bitcoin, voila!

So if I flip burgers and buy BTC, I'm indirectly mining BTC? (Minimum wage paycheck) => (BTC), voila?
Some twisted thinking, but K.

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2. GPU miners are different than ASIC miners in that you can resell the hardware (PCs, CPUs, RAMs + the GPUs themselves) after a few years and get something back or even repurpose the systems for something else. It has even less CAPEX if you start with used hardware. Obviously, buying older GPU hardware is not the same in terms of speed and power efficiency but people with subsidized power wouldn't care that much, would they? (Kind of like saying that no matter how slow the mining hardware is, it can still be profitable with extremely cheap or free electricity)

Mining BTC with GPUs is only feasible if by "subsidized power" you mean stolen, as in stolen from Mom or your national grid.

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Still, it ain't happening (China centralization of GPUs).

What the west lacks, is access to cheap and fast ASIC equipment. There are people who can run mining hardware for free (flat electricity bill)

Flat electricity bill doesn't mean you can run an aluminum smelter in your apartment, or run bitcoin mining gear, or run an extension cord to your next door neighbor, who *doesn't* have a flat electricity bill.

You are simply looking for sneaky ways to swindle your landlord, and, in the process, fuck ordinary folks who don't steal electricity, because their rents go up because of *you*. You're actually *worse* than Chinese miners stealing subsidized power, because you are *literally costing your neighbors money.*
No wonder people shy away from bitcoiners Sad

TL;DR: There is no such thing as free electricity. Unless by "free," you mean "steal without getting caught."