Bitmain has released a new ASIC Miner. The hardware uses the Equihash algorithm, which can also be used to mine ZCash. In the ZCash camp this triggered the discussion about the centralization of mining.
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Bitmain and the centralization of mining
By setting the order quantity to one unit per user, Bitmain tries to counteract the centralization of mining. The problem of key mining farms, where individual companies have control over the distribution of new cryptocurrencies, is a hot topic in the crypto scene. The discussion also started in the ZCash community. ZCash founder Zooko Wilcox comments:
“I tried to find out about the current status of crypto-mining. I am in contact with some major mining operations to understand their economics. Also, I inform myself about the production of energy […]. Also, a big unanswered problem is, in my view, let’s say you have a big, profitable mining farm. Why do not you just reinvest all the profits to upgrade? In other words, why have not professional and well-equipped GPU mining operations long since driven small miners out of business? One thing I’ve learned is that GPU mining is absolutely essential for the ZCasher in Venezuela. If Venezuelans try to import ASIC miners, they risk being stolen or confiscated by the army, which controls all imports in the country. “
He addresses another sore point in the debate – with a price of $ 1,999, the Mining device for people on a budget is certainly out of the question.
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