February 2016
Beginner
130 pages
2h 43m
English
Content preview from Bitcoin EssentialsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Further centralization of mining
It is quite possible that mining may become more centralized. In the summer of 2016, the block reward will halve to 12.5 BTC; this development may move some of the smaller miners into an unprofitable territory; hence, forcing them to stop mining. As a result, the big miners may end up with a bigger overall percentage of the hashrate. Manufacturers of mining equipment constantly put out better, faster, and more efficient hardware. There is a consolidation happening in this space; thereby, creating larger mining entities. Quantum computing may also introduce a miner with enormous hash-power, and of course, if the BTC value, as measured against local currency, skyrockets, then it will encourage more investment into ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.