Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
thegenesisblock.com
Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
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Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#2The flood of newly minted BTC will likely cause exchange rates to crater. Hopefully the increase in available BTC will stabilize prices as individuals/small groups will have to expend more capital to influence prices in their favor.
The next six months are probably going to be a little crazy, hopefully it'll drive BTC out of the hands of speculators and into the hands of actual users of the currency.
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#3The flood of newly minted BTC will likely cause exchange rates to crater. Hopefully the increase in available BTC will stabilize prices as individuals/small groups will have to expend more capital to influence prices in their favor. The next six months are probably going to be a little crazy, hopefully it'll drive BTC out of the hands of speculators and into the hands of actual users of the currency.
The creation rate of BTC is fixed every 10 minutes. More ASIC power does not equal more BTC.
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#4The flood of newly minted BTC will likely cause exchange rates to crater. Hopefully the increase in available BTC will stabilize prices as individuals/small groups will have to expend more capital to influence prices in their favor. The next six months are probably going to be a little crazy, hopefully it'll drive BTC out of the hands of speculators and into the hands of actual users of the currency.
I doubt it. After the a few hundred (thousand?) blocks are mined, the mining difficulty algorithm will kick in, making mining just as difficult as it was before, relative to the new hash rate. It will mean gpu miners won't make anything at all, but the overall volume of new coins won't increase.
Further reading: https://en.bitcoin.it/wiki/Difficulty
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#5Will these things be good for anything else once faster/better miners are introduced?
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#6Will these things be good for anything else once faster/better miners are introduced?
what kind of faster miners are you referring to? ASIC is the best available technology
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#7Will these things be good for anything else once faster/better miners are introduced?
They will keep making money, just slower.
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#8Will these things be good for anything else once faster/better miners are introduced?
No, they are specifically built for mining bitcoin.
Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#9Re: Latest Shipment of Avalon ASICs Could Increase Network Hashrate By 500%
#10Will these things be good for anything else once faster/better miners are introduced?
what kind of faster miners are you referring to? ASIC is the best available technology
The chip technology is an older process using 110nm technology. There are already several companies working on 40nm technology which will be more power efficient and be significantly faster per chip.