Tuesday, December 18, 2018

Bitcoin Network Growth is Finally Slowing

growth

Image from http://bitcoin.sepa.be

The graph says it all. Bitcoin network growth is finally slowing. With the introduction, and mass shipping, of 28nm chips from both KNC Miner and CoinTerra it appears that bitcoin growth has finally started to slow. This is where things get interesting.

Now that rapid acceleration in growth has stopped this game of technical chicken is more about capital than anything else. There are a small number of individuals worldwide who will be able to amass enough hashing power and begin to corner the market.

This isn’t a bad thing for bitcoin, per se, but rather a consolidation of power. No single individual will ever control 33%, or 51% of the network; and if they do it is certainly not in their best interest to subvert or otherwise corrupt the system.

HN Discussion
Reddit Discussion