This is a list of currently discussed ASIC bitcoin mining hardware. Please note that some manufacturers have not shown a working product yet, so do your own research before ordering any product. To always get the freshest ASIC news, subscribe to our newsletter and follow us 1200 bitcoin miner Twitter. Nothing is guaranteed, all data is roughly estimated.
We all agree that Bitcoin has paved the way for other crypto currencies to enter the market. The question is how are these new currencies different or any better? Below is a running discussion on Bitcoin vs. Like most crypto currencies Bitcoin uses a single Hash function or SHA-2. Current bounty is 25 BTC halved every 210,000. Total currency supply is capped at 21 million.
What started out as being CPU mined, has quickly led to a race to secure ever faster mining hardware. It is virtually impossible to mine Bitcoins anymore without serious capital and hardware. Generates a new block every 30 seconds. 247 million mined the first 6 months, then 1 million QRK every year. Being only CPU mined, this coin offers the average individual the rewards of mining.
Also, because of its 6 hashing functions, Quark is ASIC proof, making it too costly and near impossible to develop an ASIC to mine Quark. We’ve all heard time is money, and if you have moved bitcoins around, you will know that it is lacking in fast transaction and confirmation times. One of litecoins main features to rival Bitcoin was that is changed its confirmation times. Take a look at this source and scroll down to confirmation times. Although it is constantly in a state of flux, at the time of this writing Bitcoin’s average confirmation time is 7. Speed is one feature where Quark really shines.
From the same source above, Quark’s average confirmation time is a blazing . 64 minutes or less than 40 seconds! Go ahead download the wallet and move some Quarks around, you’ll be impressed by how fast they transfer. When it comes to business, speed is essential and synonymous with money! Here is a little infographic we did to compare Quark’s speed with a few other cryptos. In the beginning Bitcoin was mined for several years by only around 30-40 people.
Currently, it is virtually impossible for a single individual to mine Bitcoin. As the mining continues to intensify, more and more BTC blocks will fall into the hands of the few with lots of capital and hardware. Bottom line is from a mining point of view, BTC is becoming more and more centralized. This is just the minimum as each entity can have multiple addresses. Distribution is Quarkcoin’s strong point, although some will argue the opposite. Bitcoins being mined by very few.
Setting the time to mine most coins within the first 6 months discourages the ASIC miners from ever entering the market. With a majority of the coins mined, the price should hopefully stabilize more quickly than the other coins with longer time frames, making this crypto currency more desirable for everyday transactions. But what about argument that ‘the vast majority of the 245 million Quarks already mined are in the hands of the few? If you take the time to read through the Quark Thread over on Bitcointalk. It traded so low, that early miners didn’t want to hold onto their Quark, thus the distribution began. No, if you do some research you will find that it was not. Quark’s mining schedule was developed to be quick to get it out of the hands of the miners and into investors as soon as possible.