Bitcoin Mining game has changed

ASCI or Application Integrated Connection Machines have arrived in the Bitcoin mining market. The first car arrived at the miner’s house in late January, and since then there have been rumors that the ASCI trucks are finding their way into the miner’s Bitcoin mining equipment.

Because ASCI machines are specifically designed for bitcoin mining tasks, they are very efficient machines for which they are designed. High-end ASCI cars have a hash speed of over 1 million per second. A standard processor running Bitcoin mining software has a speed of 1.5 hashes per second.

Needless to say, the delivery of ASCI cars is a game changer in the bitcoin world. Processors are no longer supported even by bitcoin mining software, as a processor running 24 hours a day is unlikely to see bitcoin for several years, even if it were mining in a pool.

This trend is good for mining enthusiasts who have thousands of dollars that can be spent on expensive equipment, as well as early adopters of bitcoin mining who have probably benefited greatly from their early mining efforts. Those early profits could be rolled out to the latest “largest hardware” equipment to continue producing bitcoins in the future.

Miners working with relatively powerful GPUs suffer the most from ASCI development. The difficulty of successfully mining the Bitcoin block has reached a level where the cost of electricity can exceed the cost that a GPU miner will see in Bitcoin year after year.

All these speculations are largely related to the future price stability of bitcoin. If Bitcoin stays around the current $ 30 level, innovation will continue to grow. ASCI has partially contributed to the rally that Bitcoin has seen in the last 2 months. The exchange rate of Bitcoin to $ 30 has risen from $ 10 to $ 30. It’s hard to find a place with such a lucrative investment on the planet, so it’s natural that bitcoin has been gaining traction in recent days. But will this focus continue? And if so, it’s more of a testament to instability than stability to a young digital currency. In the long run, relative stability is the only attribute that bitcoin must establish if it is to achieve its initial goal of being a viable, competitive currency on a global scale.

So will Bitcoin surpass the current speculative tool label? The answer lies in the intertwined network of variables, which encompasses a wide range of humanity. politics, psychology, finance, fear, freedom, privacy, security … և etc. Regardless of the outcome, it will definitely be a fascinating show.

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