79 votes
Accepted

Why did Satoshi design Bitcoin to be mineable only on specialized hardware, if the goal was decentralization?

Bitcoin was not designed to only be mineable with specialized hardware. When Bitcoin was created in 2009, ASIC miners did not exist, SHA256d ASICs did not exist. Even GPU mining software did not exist ...
Ava Chow's user avatar
  • 70.5k
13 votes

Why did Satoshi design Bitcoin to be mineable only on specialized hardware, if the goal was decentralization?

GPU-mineable cryptos are arguably more decentralized. Sure, but in a bad way. Say you want to attack or compromise bitcoin. You have to buy ASICs to do it. You could use GPUs or CPUs, but you would ...
David Schwartz's user avatar
10 votes
Accepted

Bitcoin migrating to a ASIC resistant mining algorithm like RandomX used on Monero

The bitcoin community would have to decide that they don't particularly care about having significant security anymore. ASIC-resistance weakens the security of proof of work chains because it ...
David Schwartz's user avatar
9 votes
Accepted

How does Segwit prevent ASICBOOST?

There's 2 versions of ASICBOOST: Overt where miners use bits in the version number as extra nonce space Covert where miners "mine" merkle trees with 4 bytes collisions The overt version is very ...
alcio's user avatar
  • 1,274
5 votes

Why is Bitcoin not moving to an ASIC-resistant Proof of Work algorithm?

ASIC-resistance is a mirage. Application Specific Integrated Circuits (ASICs) are made to do one thing only and will always beat general purpose hardware. "General purpose computational devices ...
Murch's user avatar
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5 votes

Why is Bitcoin not moving to an ASIC-resistant Proof of Work algorithm?

The downsides outweigh the upsides: as you mentioned this would require a hard fork, and would leave everyone (not just mining farms) who owns a Bitcoin miner with a very expensive paperweight, and as ...
ieatpizza's user avatar
  • 2,068
5 votes

Looking for whitepapers on pool-resistence mining

To expand on @Jannes’ answer: ‘ASIC resistance’ is not technically possible in the absolute sense. No matter the algorithm, it is theoretically possible to create some hardware that can run the ...
chytrik's user avatar
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5 votes
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Looking for whitepapers on pool-resistence mining

ASIC resistance is a buzzword thrown around by scammers trying to sell you what is actually impossible as well as a bad thing. Pool resistance doesn't sound much better. https://download.wpsoftware....
Jannes's user avatar
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4 votes

Why is SHA3 less conducive to ASIC?

I'm not an expert but I'm a good at digging through academic literature, and this is what I found about SHA3 with relevance to FPGAs and ASICS (and in comparison with SHA2). Note that this paper ...
Penquin's user avatar
  • 671
4 votes

How to prevent ASIC mining for my new altcoin?

Are there any steps which I should include in my altcoin's mining algorithm to prevent ASIC mining? That's not really what you should be asking. You should be asking, "Can someone design an ASIC ...
Nick ODell's user avatar
  • 29.4k
4 votes

Why did Satoshi design Bitcoin to be mineable only on specialized hardware, if the goal was decentralization?

People who say that GPU mining is more decentralized than ASIC mining forget that GPUs don't descend from the sky. There are companies that manufacture them, and since GPUs are incredibly complex ...
Meni Rosenfeld's user avatar
3 votes
Accepted

Is asic-resistance obsolete?

In the linked article the author describes in quite some detail the failure of asic-resistance. (Thank you @Jannes for finding it.) ASIC Resistance We’ve been pessimistic on ASIC resistance ...
Willtech's user avatar
  • 3,269
3 votes

How is Scrypt ASIC-resistant?

The Scrypt algorithm started out as an "ASIC-resistant" algorithm, but it isn't anymore. Because it is highly memory-intensive, it was thought to be prohibitive to design and use ASICs for it. ...
marquix's user avatar
  • 101
2 votes

Why is SHA3 less conducive to ASIC?

Your premise is flawed. I think being good for ASIC was one of the reasons why Keccak won: it was both the fastest and had the best performance/area ratio among the finalists for ASIC reference ...
Tiana's user avatar
  • 121
2 votes

Why did Satoshi design Bitcoin to be mineable only on specialized hardware, if the goal was decentralization?

That Bitcoin is only mineable on specialised hardware is not itself a design choice. It is a consequence of hinging the integrity of the system on a proof of work, combined with great interest in ...
Emil Lundberg's user avatar
2 votes

Is bitcoin-gold more ASIC-resistant than Litecoin?

This appears to be old but to correct the above answer, Bitcoin Gold used to use the Equihash algorithm but recently forked to the Equihash-BTG proof of work algorithm in order to keep in line with ...
romulox's user avatar
  • 21
2 votes

Is it possible to get rid of mining pools and therefore get a truly decentralized bitcoin?

There's a group of us working on a new iteration of p2pool based on braids (a DAG-chain) and mining into payment (Lightning) channels. Like p2pool, each miner would construct his own block, and ...
Bob McElrath's user avatar
2 votes

Bitcoin migrating to a ASIC resistant mining algorithm like RandomX used on Monero

Agree with David's answer, but the security detriments of ASIC resistance (of which there are many) is somewhat besides the point. The entire value proposition of bitcoin, and what makes it so ...
hedgedandlevered's user avatar
1 vote

Looking for whitepapers on pool-resistence mining

I found multy-pool resistance: https://github.com/goldcoin/wiki/wiki/GoldCoin-Whitepaper#multi-pool-resistant And for asic-resistance see https://whitepapersindex.com/?q=%22asic-resistance%22 there ...
nanvel's user avatar
  • 111
1 vote

asic mining with different cryptocurrencies after it is no longer profitable

An ASIC is an "Application Specific Integrated Circuit". In the case of a Bitcoin miner, the specific application is performing the SHA256 hashing algorithm. That is the only thing the ASIC knows ...
Jestin's user avatar
  • 8,812
1 vote

Is bitcoin-gold more ASIC-resistant than Litecoin?

To answer some questions to the best of my ability: But wasn't this tried already with Litecoin via Scrypt mining algorithm? Yes, this was tried with Litecoin. is Bitcoin Gold now a better ...
Rouse's user avatar
  • 121
1 vote

Why did Satoshi design Bitcoin to be mineable only on specialized hardware, if the goal was decentralization?

Your question lacks historical sense. When Satoshi Nakamoto considered Bitcoin, he had lots of very difficult problems to solve. For instance, the problem of distributed authentication, a problem ...
Hilton Fernandes's user avatar
1 vote

How is Scrypt ASIC-resistant?

Scrypt is a highly memory-intensive algorithm: it generates and uses a very large number of pseudo-random values in computing the final output, and for efficiency reasons, all of these intermediate ...
Mark's user avatar
  • 136
1 vote

Have the Bitcoin developers resigned to the idea of changing the mining algorithm to an ASIC-resistant one?

Short answer: no. Remember, that it's not really the developers who decide. A mining algorithm change would mean a hard fork, which is an incredibly difficult task to pull off. The developers ...
Jestin's user avatar
  • 8,812

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