Post
Topic
Board Mining speculation
Re: I know it's too late, but aren't we shooting ourselves in foot by buying ASIC?
by
dominicus
on 12/07/2013, 12:39:44 UTC
Buying ASIC miners goes against the common good. It give an individual the upper hand for a while until most miners upgrade to ASIC. By that time, a 5Ghps miner will give the same a amount of bitcoins as a 200Mhps GPU miner gave 6 month before.

In the long term, we all loose and the only winners are the ASIC manufacturers.

This is a fine example how group behavior eventually goes against the common good.

But I guess it's too late for that now... the hash rate snow ball is rolling faster and getting bigger by the minute.
 

At what point in human history have common good and money been united for any length of time?  Still...a nudge in the right direction.