Quote from: AngryDwarf on March 21, 2017, 09:13:55 AM

Quote from: Carlton Banks on March 21, 2017, 08:58:08 AM

Quote from: AngryDwarf on March 21, 2017, 08:48:22 AM

Quote from: Amph on March 21, 2017, 06:57:48 AM

but this is like saying fuck off to million of dollars invested in mining by chinese, i don't think they will ever agree

And segwit supporting BitFury won't be too happy either.

It makes no difference, the ASIC miners should have seen this coming.

If they don't do what the majority of users want, and choose a foolish hard fork instead, then that's just a risk of the business they're in. I won't be crying for them, the miners have behaved like a cartel.

And if Bitfury really wanted to be responsible to the Bitcoin network, they could have sold chips or miners to the public, which they only ever did with their early 55nm mining ASIC chips. They have themselves to blame, their strategy could have been much better.

The only thing a POW change will achieve is a temporary reset to a level playing field.
People start building their own mining farms.
Normal users will have little chance of solving a block on their own, so they join a mining pool.
The economics of low electricity cost and real estate space gives some farms an advantage.
It becomes economically viable to design a specialised computer to be more efficient at the task at hand.
A new mining oligarchy forms as a result.

this new algo, have the potential to be anti-asic, in the sense that the cost of asic would be too high to develop one tooe arly with current bitcoin value, therefore could put a layer for gpu mining again and a better distribution

unless chinese have already plenty of gpu to mine this with, they will probably be left behind here, not to mention that resetting the network is dangerous, for 51% anyway....