Bitcoin mining alogorithm

[poyo loco]

Do any one of you guys think bitcoin should only be mined using cpu. I have been thinking about ethereum (Bitcoin's kid with good ux) merge. It got me wondering, pow can be persist only if it goes back to cpu minable. It will dilute the mining process from one entity and make bitcoin more resiliant. "Yespower" algorithm looks promising. I would like to know about your opinion.

[NotFuzzyWarm]

NO!
For the umpteenth time of someone new to the Forum and BTC world asking ' would it is a good idea to' the answer is: Doing that is called just creating yet another fork aka an altcoin that would have zero relationship to BTC.

From its inception by Satoshi it has always been known that technology would push difficulty higher until they balance out. He foresaw that better tech starting with GPU's then FPGA's and now ASIC's - would show up making the older tech useless. Period. End of story.

[mikeywith]

Do any one of you guys think bitcoin should only be mined using cpu. I have been thinking about ethereum (Bitcoin's kid with good ux) merge.

ETH was also mined by ASICs alongside GPU, if not for the merge and if gear manufacturers were not under repeated threat of "we are going POS - your gears will be worthless" it would have been only a matter of time before ASICs dominate ETH.

Since BTC community had no intention or even real talks about going POS or switching to another algo, gear manufacturers invested billions of dollars in research in order to optimize ASIC miners for BTC.

Another important factor is the market size of each of these coins, BTC has always been a lot bigger than ETH, the huge potential profit that is ready to be milked out of BTC allowed said companies to invest and manufacture a huge number of ASICs that eventually killed GPU mining.

So really, unless you are talking about a small coin that isn't worth the efforts, or a centralized coin "at least at the development level" it will always end up being mined in the most efficient "way" whether that would be ASICs or hiring space aliens to mine it, you can't dictate what miners would use to mine it.

[BitMaxz]

I'm sure gamers will hate Bitcoin because if Bitcoin becomes mineable again with CPU then the price of CPUs on the market will skyrocket, so no gamers or builders can able to buy it that is they evolve to ASIC which is a very unique chip that can only be used for mining Bitcoin and remove CPU or old tech to balance the world.

[ranochigo]

The nature of POW always concentrate the power and the control among the people with the most power. Contrary to popular belief, even if you were to hypothetically invent an algorithm that is completely GPU and ASIC resistant, you would still have the issue with the concentration of the hashrate. It really doesn't make a difference to the decentralization and One CPU One Vote was never going to be a reality anyways, not when certain entities have far more resources than others.