Over the last 2 years 96% to 99% of the blocks were mined by only six mining pools.
Discussion
We need more BitAxes
Does not even make a dent.
Right now, yes.
And even more in the future.
I bitaxe is just smaller chuncks of ASICS, which means they are 100 times weaker. So you kinda need 100 of these devices to make up for 1 ASIC(its more like 200~300 but lets be generous).
So you are at a disadvantege by 2 factos of magnitude to make up 1 ASIC.
Now think how many ASICs you would need to make a dent.
And the more hash rate comes on the network the worst this becomes.
I honestly do not understand how anyone think BitAxes are anything more than a great educational tool?
I am on the camp that every phone will have an ASIC and mine at night while charging. So, at least 8B miners out there + all the old devices we could then repurpose to be 100% miners.
The question is how powerfull can that ASIC be and what is the power consumption?
The number of miners is absolutely irelevant, the minign power matters.
Ok how about this, lets say there will are 4 billion miners(which will never be because thats half of the world)
Can you tell me under your asumption what hashing power will that have asuming that there is a chip on thier phone that can do double-sha faster than normal general CPU.
Zero Point Energy (Free Energy/Aetheric Energy) will force decentralization of mining...
phones will not even exist in 10 years
We're so fucked and its only getting worse
Why are we fucked?
I mean not seeing TXs getting censored, still preventing double-spends. So the Bitcoin network works pretty good.
If bitcoin adoption increases as a p2p cash, I believe incentives to coerce miners to censor by States would increase too. Ideally, that censorship would be pretty hard to sustain with miners and pools geographically distributed. I worry that with this trend of centralization as it is, and continuing to get worse...btc will not perform well when that first test arrives.
So we are not quite fucked yet ;)
Fair enough, hahah
Ironically seems like the juice of censorship aint worth the squeeze, as long as so few people actually use btc peer to peer. There is so much opt in to custodians and security that why even bother.