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Do ASICs centralise Bitcoin?


There is a common misconception that ~~. They believe that having lots of hash rate controlled by industrial scale miners makes Bitcoin centralised - and eventually censorable or controllable by the largest mining pool operator.

A common simplistic analysis comes down to the phrase "economies of scale". Critics predict that larger ~~.


Note that ASICs are also beneficial in protecting the Bitcoin mining industry against the impending arrival of quantum computing.

See also: Is low hash rate a problem?

See also: Why Bitcoin Cash instead of another cryptocurrency?