"If arithmetic power is monopolized, decentralization will become a joke," said a person at the Bitcoin Global Developers Conference, questioning the capitalization of blockchain arithmetic power that has led to conglomerate mining that deviates from the original intent of decentralization, and describing Bitcoin Mainland, the world's largest mining machine manufacturer at the time, as a "mining bully".
Regardless of the great idealism behind the mining mechanism, in the eyes of the average miner mining is a business, and as long as the marginal return is always greater than one, i.e. the output is higher than the input, there will be miners who keep adding to it. Mining is not just an arms race between computing power or a competition between capital monopolies and anti-monopolies. When Satoshi Nakamoto designed the Bitcoin consensus, he took full advantage of the profit-seeking nature of the market to promote Bitcoin's popularity, but also left some hidden dangers.
There is an eternal contradiction in the mining industry: mining capitalization is the only way to continuously strengthen the power of consensus, while over-capitalization of mining would defeat the original purpose of decentralization of the distributed network.
The game will always be there, and as the mining ecosystem improves, Farmit opens up another possibility for the mining industry, offering a "centralised and decentralised" answer to a crisis of centralised computing power in the blockchain world.
Farmit is a global cloud computing platform that lowers the threshold of mining by retailing computing power, allowing ordinary white investors to participate and enjoy the lucrative benefits of mining.
Farmit has large-scale industrial mining clusters in many international and regional locations around the world, including the United States, Singapore and Kazakhstan. By means of centralized procurement, bulk mining and professional operation and maintenance, the intermediate costs of mining, energy costs, operation and maintenance management costs and failure risk costs have been reduced, and the comprehensive mining costs are more than 20% lower than those of individual mining, and have stronger risk resistance.
Farmit found that centralized mining is an inevitable trend in the development of mining industry, the trend of centralized arithmetic power is unstoppable, but through the way of cloud arithmetic mining the centralized arithmetic power is then retailed to the majority of cloud arithmetic miners, the actual ownership of arithmetic power during the mining contract cycle is in the hands of the cloud arithmetic miners, the revenue goes to the cloud arithmetic miners, there is no risk of cluster arithmetic power manipulation of the market, which is the most perfect solution at present.
Over the past three years of platform operation, Farmit has delivered a total of 945 bitcoins to cloud arithmetic miners, and the platform has registered over 400,000 users/time, 80% of whom are first-time mining users. By lowering the capital threshold to break the technology blockade, Farmit has introduced 400,000 brand new consensus to the distributed network over the past three years, defusing public fears of arithmetic monopoly.
At present, Farmit continues to expand, targeting users further down to ordinary micro and small investors and working-class people, making cloud arithmetic mining a new trend of financial investment with high returns, low risks and no threshold, putting arithmetic power into millions of individuals and turning ordinary investors into part of the blockchain consensus.
Farmit is committed to popularizing cloud arithmetic mining, bringing millions of users into the collaboration of blockchain consensus, and setting a model for the benign expansion of the global mining industry.