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How to stop ASIC mining from controlling the network

The way to fight ASICs without having to hard fork is to create a way for the global capital to be able to access cryptocurrency hashing power and distribute the generation of cryptocurrency and hashing output worldwide at the same time inducing mass adoption. One way is through a 'token distributed hashing power marketplace exchange' platform.

Every year Bitmain and private Chinese mining companies rake in billions of dollars in cryptocurrency and dominate not just the network but the market capitalization itself, allowing them to manipulate the market and make even more money off the losses of the rest of the population that invest into the market.

Imagine if all of the billions of dollars worth of cryptocurrency capital were distributed amongst the global population how much spending and adoption that would create.

The fundamental issue to mainstream adoption is the accessibility to the payment in cryptocurrency which at this point in the early stages of the technology and life of the currency is mostly through the generation of cryptocurrency.

By controlling the network and generating all the cryptocurrency/Bitcoin and taking all of the block rewards, there's no access for regular people to being paid cryptocurrency through its generation and therefore no real spending of cryptocurrency as a real currency but rather it's being treated as an asset of investment and a speculative market. Hashing power must be made widely and massively accessible to everyone for there to be true and intrinsic adoption of cryptocurrency.

ASIC isn't the real problem here, it's the fact that the manufacturer of ASIC has the most access to cryptocurrency/Bitcoin generation which controls both the network and market capitalization. If anyone in the world could have access to the hashing power of ASICs, there wouldn't be a problem.

www.mthash.com

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How to stop ASIC mining from controlling the network How to stop ASIC mining from controlling the network Reviewed by paksvideo on April 07, 2018 Rating: 5

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