SiaCoin to block ASIC miners — Well, sort of

Siacoin will soon change their algorithm to block most ASIC miners as they believe it is harmful to the community. However, there is a stipulation that leads me to believe that they are not doing this for the benefit of the community but instead doing this to create and benefit themselves. That stipulation is the fact that they are not blocking their own ASIC miners. The blocking of ASIC miners follows a pattern that other coins, such as Monero, have already taken and that coins at ETH, are planning on taking to break the monopoly that companies like Bitmain have over mining. However Bitmain can just produce another set of ASIC miners to get around the issue and the fact that he is just blocking ASIC miners that are not from his own company signals to me that he is mainly doing it to monopolize the market with his own miners and so I do not trust this move as I believe it is a self-serving move and not one that helps the community.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: