[bitcoin-dev] Libre/Open blockchain / cryptographic ASICs

Luke Kenneth Casson Leighton lkcl at lkcl.net
Wed Feb 3 14:07:24 UTC 2021

On Wednesday, February 3, 2021, ZmnSCPxj <ZmnSCPxj at protonmail.com> wrote:
> Good morning again Luke,


> If you mean miner power usage, then power efficiency will not reduce
energy consumption.

> Thus, any rational miner will just pack more miners in the same number of
watts rather than reduce their watt consumption.

yes, of course.  the same non-consumer-computing-intuitive logic applies to
purchasing decisions for beowulf clusters.

> Thus, increasing power efficiency for mining does not reduce the amount
of actual energy that will be consumed by Bitcoin mining.


and if everybody does that, then no matter the performance/watt nobody
"wins".  in fact a case could be made that everybody "loses".

my biggest concern here is that the inherent "arms race" results in very
few players being able to create bitcoin mining ASICs *at all*.

i mentioned earlier that geometry costs are an exponential scale.  3nm must
be somewhere around USD 16 million for production masks.

if there are only a few players that leaves the entirety of bitcoin open to
hardware backdoors.


crowd-funded eco-conscious hardware: https://www.crowdsupply.com/eoma68
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