Post
Topic
Board Speculation
Re: The negative impact of mining farms
by
labsbitforum
on 27/10/2014, 03:18:57 UTC
I believe he means that mining has become a job of a few entities (mining farms). Not exactly Satoshi's idea about decentralized peer-to-peer systems.

If you think Satoshi didn't envision mining farms then you are underestimating him

Big players making farms.  Sure.  Everyone can see that.  Specialized silicon that would lead to 1 or 2 large players controlling bitcoin.  No.

The intent was a decentralized peer-to-peer system.  Failing to adapt the core to that end put bitcoin on a path of greater and greater consolidation that will eventually make it vulnerable to a number things and non-viable.  It will be replaced by a version 2.0 that is peer-to-peer decentralized and probably has other fundamental innovations.