E20.2 - Mining & The Forest for the Trees - Let's Talk Bitcoin! by Speaking of Bitcoin (formerly Let's Talk Bitcoin!) published on 2013-07-03T14:40:36Z In 20.2, the hosts have a long conversation about what the point of mining is, and if the incentive might have become the end result, losing site of Satoshi's vision. This is a must-listen segment and clocks in a little under a half hour long. To vote with your donations, please include a 1, 2 (for this segment), 3, or 4, as the last digit of your tip. Tips that come in with 0 or a number above 5 in the last digit will be considered support for the entire episode. Listener Support Addresses for Episode 20 Bitcoin: 1Hitdi729mhbThVUCPfD5fUz2V4jYaEeh1 Litecoin:LWAGrSGYFkZTQARu3bLfcdicykBNnttrwc Want to support the Show rather than this particular episode? 1LTBShowv5nZ2fgZ4hWU7ieeDRNKSAxtov Genre TalkShow Comment by miner roger yacoin.org 2013-07-05T19:46:23Z Comment by Mike Reardon 1 that is stupid, why would anyone bother buying an ASIC miner then? With no customer base, no one would manufacture any ASIC miners. 2013-07-05T11:07:45Z Comment by Mike Reardon 1 This is only true for today! In the next few months/years, more and more ASIC miners will be manufactured and distributed. The more ASIC miners that are available, the harder it would be for some daddy warbucks to build an ASIC farm that could control 51%. 2013-07-05T11:05:23Z Comment by Mike Reardon 1 exactly! What stop at banning ASICs? GPU mining should be banned as well. Let's go back to CPU mining or bust. 2013-07-05T11:01:30Z Comment by Mike Reardon 1 i disagree 2013-07-05T10:59:24Z Comment by Mike Reardon 1 and everyone with ASIC miners will vote against the change. As more ASIC miners are developed and distributed, it'll become less and less likely to change the POW. I'm sorry, but I don't agree with your vision. Call me a greedy ASIC miner if you will. 2013-07-05T10:58:04Z Comment by Mike Reardon 1 no deal. 2013-07-05T10:55:07Z Comment by Mike Reardon 1 I have 2 Avalon miners. I'll refuse any fork that prevents me from making my ROI. 2013-07-05T10:53:47Z Comment by Mike Reardon 1 Bitcoin doesn't need to fail for LTC to succeed. The whole point of E20.2 was that you believe that ASICs are ruining BTC mining. The solution should not be to change the proof of work such that BTC mining is ASIC-proof, the solution is to move to LTC. 2013-07-05T10:51:43Z Comment by Mike Reardon 1 lol thanks for listening. 2013-07-05T10:48:41Z Comment by Mike Reardon 1 I think what you all are looking for is Litecoin. I know that, currently, LTC can be mined using GPUs rather than CPUs like you all seem to promote. LTC mining might be more ASIC resistant than BTC, but that doesn't mean that someone will never find a way to mine LTC that disrupts LTC mining the same way that ASICs disrupted BTC-GPU mining. 2013-07-05T10:47:47Z Comment by flyermojo I am one of the listeners who more or less hears the whole show in one setting. The new format doesnt make a big difference for me, as long as all files are in the correct order in an album. But if the intros keep repeating itself in every segment, that is a bit annoying. Thanks so much for the awesome show! 2013-07-05T08:24:43Z Comment by Blake's Reading Corner what about pools. Do pools not centralize power at the pool operators? If so we need a currency that is resistant to GPU, FPGA, ASIC miners, and pools; that way we have a truely distributed network. 2013-07-05T06:48:29Z Comment by Juraj Petrík 1 can't see the link.. this looks very interesting 2013-07-04T14:06:19Z Comment by Juraj Petrík 1 the link please?? 2013-07-04T14:05:07Z Comment by miner roger what about yacoin they are working on something similar 2013-07-03T17:43:17Z