I recently watched an excellent panel discussion on Bitcoin Mining that I’d like to share with you. This was filmed a little over 1 month ago at the CoinSummit conference.
The video provides tremendous insight into the current state of Bitcoin mining and trends that we will see emerge in the not-so-distant future.
Leading the panel discussion on ‘What’s next for Bitcoin mining?‘ is Tuur Demeester of Macrotrends.
- Jez San, Bitcoin mining investor
- Naveed Sherwani of HighBitcoin is an expert on chip design and server architecture
- Emmanuel Abiodun, founder of CloudHashing.com
What’s next for bitcoin mining? CoinSummit 2014
- Over 90% of Bitcoin mining companies were started in 2014
- We are in the 1st Generation of ASIC mining
- Mining is moving more towards cloud infrastructure and remote hosting where energy is cheap
- The next generation of mining hardware needs to have upgradable components
- ROI on mining hardware will be extended to a more reasonable period of 9 months – 12 months
- The quest for lowest power units and lowest cost per GH/s has just begun
- May be up to 20 years before the last Bitcoin is mined because difficulty is self-regulating
- USB miners and low cost ASIC units are not profitable for average home users
Thanks to Devu of BixBite for the link to the video.