Why Bitcoin Mining Can No Longer Ignore Moore's Law
The bitcoin mining industry has witnessed massive change over the past two years. The technological arms race launched by ASIC makers quickly put an end to GPU and FPGA (field-programmable gate array) mining, but much like the Cold War arms race, additional investments may prove unsustainable in the long run due to ROI constraints. Currently, miners are hitting the wall. Technology is the first problem. Most miners are already using the latest nodes, namely 28nm and 20nm processors offered by TSMC and GlobalFoundries, while the first 14nm/16nm FinFET ASICs are expected next year. Yet....
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Congressman Kevin McCarthy has urged Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell not to ignore bitcoin like they have been trying to do. He believes it is the future, emphasizing, “I do not want America to fall behind” other countries. Government and the Fed Should Not Ignore Bitcoin GOP leader Kevin McCarthy talked about bitcoin in an interview with CNBC last week. Congressman McCarthy serves California’s 23rd district and is currently the Republican leader in the U.S. House of Representatives. He was asked specifically if he thinks that....