Bit o Bitcoin News

[mrquincy]

Apparently it is going to cost twice as much to mine bitcoin soon, which begs the question... If it becomes too expensive to mine bitcoin, who is going to do it in the future? It looks like it will only be big business doing it... in Iceland and China

I do not own any, nor have I, but I know a few people who are into the mining thing.

Technology | Fri Jul 8, 2016 4:19pm EDT
Related: Tech
Bitcoin 'miners' face fight for survival as new supply halves

http://www.reuters.com/article/us-markets-bitcoin-mining-idUSKCN0ZO2CW?utm_source=twitter&utm_medium=Social

 

[Matty]

The mining herd will thin itself out and difficulty will go down, meaning that mining won't require quite as much computing power to stand a chance of finding a block.

It's all beautifully self-regulating and shit.

 

[mrquincy]

I thought the general idea was that the more diversity that existed, the safer in general it would be. I guess as long as it's de-centralized that it is still advantageous?

 

[Matty]

I haven't been following Bitcoin news for a long time. There was a time when the 2 biggest pools could have united efforts to overtake Bitcoin. Not sure if that is still a possibility.

 

[roguejuror]

it's not all bad if it consolidates even more, unintended consequence of china miners has been that it's the only safe way to wash your coins, only they have the capacity to tumble effectively, which is good

 

[betplom]

I haven't been following Bitcoin news for a long time. There was a time when the 2 biggest pools could have united efforts to overtake Bitcoin. Not sure if that is still a possibility.

All the major e-currencies/altcoins are waaaaaaay up as of now.