pull down to refresh

10 sats \ 3 replies \ @cyb3r17 31 May \ on: Freedom. Decentralization. Unity. bitcoin
I'm new to the math of bitcoin but can someone explain how ASIC Miners creating a monopoly on mining is "decentralization" exactly?
write
preview
0 sats \ 2 replies \ @realBitcoinDog OP 31 May
I got this.
ASIC is not a company or brand. It’s “application specific integrated circuits.” Like CPU or Central Processing Unit is not a company or brand.
Intel as a company might have a monopoly on producing CPU chips, but anyone can produce them.
Chinese Bitmain Antminer almost had a monopoly on producing ASIC miners, but there’s more expensive American options like Whatsminer.
reply
10 sats \ 1 reply \ @cyb3r17 31 May
nah I know what an ASIC is lol, I am curious about the CPU power centralization to huge mining farms that use a lot of ASICs. we like to speak about decentralization yet this is somehow okay?
idk if mentioning monero is allowed but they have a nice way of preventing monopoly of huge mining farms.
reply
0 sats \ 0 replies \ @realBitcoinDog OP 31 May
You’re right that mining pools exist
reply