The Crypto Mining Game Heats Up In America

Bitcoin mining has become a very hot topic as of late. In the olden days you could mine bitcoin and contribute to the security and earn funds for doing so with your CPU and GPU. Honestly though CPU was dead by then as soon as GPUs started to crank out some serious hash power. This made it so EVERYONE with a computer would put their idle power and mine bitcoin with it. I kind of feel like this was the vision of the chain from the creator to have everyone take part and own just a little of the mining power for bitcoin.

However that drastically changed with the introduction of ASIC miner which blew CPUs and GPUs out of the water. Because of that it started to become more centralized. Only those who could get their hands on these 100x more powerful miners held any chance to compete and be part of the mining of bitcoin.

Now sure we here some new trends of people using small little machines and striking it rich when they mine a block themselves but you have got to realize the chances of that are like winning the lottery. Is it worth it? Maybe as a fun project and honest that would make it so things became at least a little less centralized.

Instead what we have now are businesses investing millions even billions of dollars into monumental mining buildings that chew through power and now compete with other large businesses. This essentially has squeezed out any every day person into being a part of the mining process (besides the example above of the random very lucky chance which honestly maybe we need more of. I'd love to see a easy plug and play asic miner that could be easy for the masses to buy up and use that would restore my faith a little)

Make no mistake out it Bitcoin is power hungry and honestly wasteful. But in all of that is does provide the security of the blockchain as it stands right now. There where times when this 51% attack was a thing as asic miners started to hit the markets but I really don't think we will see that again unless a 100x more powerful system came online to replace asic.

Because of this power hungry blockchain we have seen in closed down out of China and a few other countries trying to clamp down on it. Even in America now they are in talks about it. However to me this opens up the real possibility of these large businesses instead to invest in their own power systems or at least replacing a small amount of it via solar, wind etc. This could essentially build up an even more powerful and robust infrastructure. So kiss that dumb infrastructure bill good bye! Just allowing bitcoin to be mined here I believe would be enough to build more infrastructure and money than that bill ever would.

A New Company

A new company is setting roots in America with the only goal to mine cryptocurrency. They are investing a total of 1.9 billion dollars into a facility in North Dakota on a 77 acre plot of land. However here's the biggest kicker and why I actully support this move and it reinforces what I said above.

"create the largest cryptocurrency company in the world with a carbon-neutral footprint"

Carbon Neutral does not mean clean energy exactly what it does mean however is as much carbon they are putting out it is also cleaned from the air.

Side Note:
I'd honestly love to hear some opposing view points on why Proof Of Work like Bitcoin is better over Proof of Stake. There has to be at least a few and I'd love to hear them.