A solid post re mining.

As far as mining goes though, you couldn’t pay me to do it. It’s become way too specialized by now.

There’s the Red Queen hypothesis going on:

“The Red Queen hypothesis, also referred to as Red Queen’s, Red Queen’s race or The Red Queen Effect, is an evolutionary hypothesis which proposes that organisms must constantly adapt, evolve, and proliferate not merely to gain reproductive advantage, but also simply to survive while pitted against ever-evolving opposing organisms in an ever-changing environment. “ (wikipedia)

The miners who have an edge, and get hardware first are elephants. The miners who get hardware last are slugs. And in this scenario, the elephants step on the slugs.

“I placed an order for an [ASIC mining unit] and have been researching how to set it up so I’m ready when it gets here. I noticed a lot of people join bitcoin mining pools instead of simply mining on their own. If the number of hashes of my unit relative to the network define my payout probability, why pay the administrative cost of a pool?” – Jeremy H.

We regularly receive variations of the above inquiry about bitcoin mining pools and decided a detailed explanation was in order. The question is a valid one and does not necessarily have a correct answer, but there are considerations that should be taken into account by anyone making this decision.

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This entry was posted in Bitcoin Mining on June 11, 2013 by asdfaSFDASDF425245@-.

Source: bitcoinnews.io