Bitcoin prices this spring as of writing this article are hovering around $295 / BTC. Miners are happier, but overall, the prices are still too low to be profitable in many locations worldwide. As mentioned across the web in many different articles, it appears the happy point as of today is around $500 / BTC. This price point allows the majority of miners to make profits and continue to be able to run equipment that secures the Bitcoin network.
20nm & 16nm Bitcoin Mining Machines of the Future
KnCMiner, Spoondlies Tech, and other Bitcoin mining manufacturers all have mentioned that new 20nm tech Bitcion miners will be available around the summer of 2015 and beyond that point. Some companies have already reported they have the new chips, they now just need to complete the rest of the manufacturing process and will begin shipping as soon as possible. On the kncminer.com website they now mention, “We were the first in the world to deliver 28nm and 20nm Bitcoin chip technology and we’re still the only producer capable of delivering 20nm tech in the Bitcoin space.” They also mention, “Now we’re distancing ourselves from the competition by moving down to the 16nmFinFET 3D node with our new mining platform Solar, reaching processing speeds on an order of magnitude above previous generations’ levels.”. Currently it appears you cannot buy any KnCminer equipment from their website or mine on their pool as “ALL CLOUD MINING SOLD-OUT” is posted on the KnCCloud.com site.
Bitmain, a large competitor in the Bitcoin miner manufacturing industry, recently updated their products website with new shipments of S5 Antminers (efficient 28nm chips), with batches 5 & 6 going out starting at the end of March and in June. At this time, there have been no reports of them working on next-gen miners but they seem to follow trends well, have a pretty solid working foundation, and more than likely are looking at the newer chips for the future.
The newer 20nm & 16nm designed Bitcoin mining hardware is expected to have 20-50% more hashing power while increasing power efficiency another 20-40%.
This new equipment will surely have an impact on the Bitcoin network hashrate and should make Bitcoin difficulties increase faster than expected as well, compared to only having 28nm or lesser equipment.
Over the last few months new decentralized internets are getting more attention. It was recently announced that Blocknet, a decentralized internet system, will be working with Bitnation, and crypto-currency Horizon to create the “Decentralization of all Things”. This partnership aims to have their systems involved in government, finances, lending networks, exchanges, storage systems, and more.
Kim.com of Mega.co.nz, the cloud based encrypted storage service, recently was declined acceptance from Paypal and is giving current customers two months of free service while they come up with a plan to implement crytocurrencies into their payment systems. Kim.com announced this in twitter, “Let’s give Bitcoin a Boost!” Around the same time, Kim.com announced that he has started the MEGANET system. A decentralized internet using blockchain technologies and related systems.
More and more people are jumping on-board with the ideas that Bitcoin & blockchain technology can help us be more secure, have decentralized authority and financial systems, and can circumvent the powers of world governments that already have abused their rights of privacy.
Decentralized Cloud Storage Systems
Decentralized internets need decentralized storage systems to complete the cycle. Blocknet already is working on storage systems and hopes to have them in place by this summer while Storjcoin, a specific decentralized storage system, is in Alpha testing of their storage platform and hope to have Beta testing starting sometime early 2015.
Burstcoin is another crypto-currency, decentralized storage system, that was announced in August of 2014, and appears they have a working network in action over the time frame; but have had little improvement to have a landing website, additional details about marketing and future plans, and seem to have a somewhat complicated mining upkeep with 3 different pieces of software needed and little amount of users on the network. It is being traded on the Poloniex exchange.
Blocknet is already in a partnership and setting up multiple functions of their network including storage, and Mega.co.nz has their own encrypted (non-blockchain) storage systems in place. Maybe it would be a good idea for one of these other decentralized storage platforms to handle this part of the network for decentralized internet systems. We may hear more news about partnerships in the near future.
There appears to be growth in multifunctional, mass appeal, cryto-currency based internet and storage systems being built, used, and worked on as we speak. For the fans of “Decentralizing Everything”, it sure looks like the future is heading that way.