ASCI or application-specific integrated circuit devices have arrived in the Bitcoin exploration market. The first machine arrived at a miner’s home in late January and ever since reports have been trickling within of shipped ASCI machines getting their way into miner’s Bitcoin mining rigs.
Since ASCI machines are designed specifically for the task of mining Bitcoin, they are highly effective machines from what they are designed to do. High end ASCI machines have a per second hash rate of over 1 million. A typical CPU running Bitcoin exploration software has a per second hash rate of 1. 5.
Needless to say the shipment of ASCI machines are actually a game changer in the Bitcoin entire world. CPUs are no longer even supported by Bitcoin mining software because a PROCESSOR running 24 hours a day would likely not visit a Bitcoin for several years, even if it was mining in a pool.
This trend favors those interested in mining who also happen to have thousands of dollars lying around to be used on expensive hardware, and also the early adopters of Bitcoin mining who likely have made a big profit from their early mining efforts. Those early profits could be rolled into the latest and greatest equipment and rig setup to continue producing Bitcoins well into the future.
Those miner who are running relatively powerful GPUs are being hit the most severe by the ASCI development. The difficulty within successfully mining a block associated with Bitcoin has increased to a level that may make the cost of electricity outweigh the payout a GPU miner will discover in Bitcoin from year to year.
All this speculation is tied heavily to the stability of the price of Bitcoin going forward. If Bitcoin stays around the present 30 usd level then advancement will continue to progress. ASCI simply has contributed to the rally that Bitcoin has seen over the last two months. The USD exchange rate for Bitcoin has soared from 10 usd to 30 united states dollar. It is hard to find an investment with that kind of return anywhere on the planet, so it is natural for Bitcoin to be drawing interest in recent days. But will this attention last? And if so will it bring more scrutiny plus volatility than stability on the youthful digital currency? In the long term relative balance is the one trait that Bitcoin must establish if it is to accomplish the initial goal of being a viable and competitive currency on a world scale
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