Darnassus wrote:
Don't quote me, all a theory.
lol more than a theory.
Seems mining has changed somewhat since late 2014.
I've learned that old Bitcoins weren't "regulated" enough: soaring inflation, volatile value fluctuations, exchanges being shut down, large/rich groups ("whales") would mine and dump huge Bitcoin batches ... while "real" value and stability for Bitcoins (or for any fungible currency/commodity) requires some hoarding to balance supply and demand. The "whales" were basically doing the equivalent of printing money and promptly liquidating (selling) it into other currencies to scrape maximum profit.
Ethereum -
Ethash - is indeed designed to be ASIC resistant. It makes existing ASIC-based units impractical, it (supposedly) uses memory/resources in ways which would be less cost-effective to manufacture on ASICs than on GPUs, it also "validates" the hardware by confirming it is a registered GPU type and not a registered ASIC type. All to keep the "whales" on even footing with "the little guy", so coins stay precious.
But even that's changing. You can't stop big money from buying big money, lol.
https://www.google.ca/search?q=Geass+P1-200
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