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alienist comments on Ethereum creator Vitalik Buterin mentions LessWrong, discusses the various camps and ideologies in Cryptocurrency development - Less Wrong Discussion

6 Post author: Ander 31 December 2014 10:23PM

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Comment author: alienist 01 January 2015 12:55:34AM *  11 points [-]

ASIC miners are a problem. Not only have they lead to an explosion in the hash rate - and electricity costs to secure the Bitcoin network

No they didn't. Market forces will always drive the cost of mining a bitcoin to the value of a bitcoin regardless of the algorithm used.

Comment author: Ander 01 January 2015 02:11:30AM 1 point [-]

Thanks, I didnt mean to imply that ASICs specifically lead to the increase in mining costs/electricity use. I edited to make this more correct.

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