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RE: Just like in the original gold rush, it's the ones selling the picks and shovels that get rich

in #bitcoin7 years ago

That's a bit of a worrying trend if you ask me. If a company can control 70-80% of the mining market, than that can't be a very good thing in my opinion... These numbers are just out of control aswell. Do you know if this can really have a direct impact on the market? Is it really as bad as it sounds?

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It just means it can't last if prices stay anywhere close to these levels. More competition is coming, which is a good thing.

@tuwore True, having 70-80% of the control of something means it is not decentralized, which is obviously in stark contrast to the whole idea of what this digital revolution is all about! I think once people gain so much power in a certain space in society it is very hard if not impossible to re-distribute that control out as well unfortunately.

I hope more competition is coming from Samsung and other chip manufacturers. I cannot imagine that any major chip manufacturer can afford to ignore a multi billion hardware market.