Chapter 8. The Future of Bitcoin Mining
In this chapter, we will speculate about the future of Bitcoin mining. This is rather a fun chapter, as we can't be absolutely certain about what will happen. We can however, make educated guesses about where things may be headed. We will explore the possible ways in which mining may either become very centralized or go the opposite way and become decentralized.
There has also been a concern that mining pools have become too big. However, we think those concerns are not justified. After Ghash.IO became, for a brief moment, the biggest pool with more than 50% of mining power, miners moved their rigs to other pools and Ghash withered to about 3% of the network hashing capacity.
The following topics will be covered ...
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