ASCI, or application-specific integrated Circuit machines, have entered the Bitcoin mining market. In January, the first machine arrived at a miner’s home. Since then, reports have started to trickle in about shipped ASCI machines making their way into Bitcoin miners’ rigs. ASCI machines are specifically designed for mining Bitcoin. They are highly efficient machines at what they do. ASCI machines with a high end hash rate of more than 1 million per second have a high-end price. The ASCI machines were a game-changer in the Bitcoin world, it is obvious.
Let’s understand it
Because CPUs are no more supported by Bitcoin mining software, a CPU that runs 24 hours a days would not likely see a Bitcoin for several decades, even if it were mining in a pool. This trend favors those who have thousands of dollars to spend on expensive hardware and those who have made a substantial profit from their early Bitcoin mining efforts. These early profits could be used to purchase the most advanced hardware and rigs that will continue to generate Bitcoins long into the future.
ASCI development is affecting miners with powerful GPUs the most. The difficulty of successfully mining a block Bitcoin has increased to a point where the cost of electricity may outweigh the Bitcoin payout that a GPU miner will receive from year to year. All this speculation is heavily tied to the stability and future price of Bitcoin. Innovation will continue to grow if Bitcoin remains at the current 30 US Dollar level. ASCI has played a part in the Bitcoin rally over the past 2 months. Bitcoin’s USD exchange rate has risen from 10 to 30 US dollars.
Conclusion
It is difficult to find an investment that offers such a high return anywhere on the globe, so Bitcoin has been attracting attention in recent days. But how long will this attention last? Will this attention last? Bitcoin must demonstrate relative stability in the long-term if it wants to achieve its original goal of becoming a competitive and viable currency on a global scale. Bitcoin will transcend its current status as a speculative instrument. It will be fascinating, regardless of what happens.