Over the past 12 years, ever since Bitcoin came, we have heard a lot of buzz around this digital currency. It has silently established itself in the market and emerged at a place where Satoshi Nakamoto has talked about in its white paper. It came in 2009 when some handful of digital currency enthusiasts who were not aware of the real potential of Bitcoin forgot about checking its viability in the longer run.
Satoshi created some buzz around the coin, stating that it can help people run away from issues like recession, which seemed terrible in 2008. It has brought Bitcoin into the market. Any Bitcoin lover would know the basics of Bitcoin architecture and act as a consensus system.
Today, we see several people only thinking of Bitcoin mining in a big way. We see it garnering a good image of the mining server. Interestingly, he never used the word miner in his write-ups despite using the term gold mining in it. Check this link out to know more about the impact of blockchain.
Satoshi’s Verdict on Miners
He never called people involved in mining miners. Instead, he preferred calling them POW or proof of work. He talked about the heat generated by the computer while mining and many more similar things like the running cost. Satoshi seemed to be a team, which soon perished, and this man turned into a mystery in history.
Yet, he set a proper direction for the Bitcoin mining system that kept baffling all the time. Currently, the significant concerns in Bitcoin circles come in the form of lacking people to carry out the work in the right direction. In other words, miners appear to be influential men to consider. Bitcoin mining network seems to be a lack of diversity that seems to be going on the scale of operation that one can witness while relying on third-party managed energy sources.
To clearly understand this condition, you need to check the world of animals. If you take up the example of three animals, including rabbit, horse, and elephant, you can make out the differences between the three with their sizes. Elephants are giant, and they cannot hide. Horses are quick and powerful; they can travel long distances without any difficulty.
Rabbits are quick when it comes to covering small distances. They are easily visible when moving alone and thus remain innumerable who can quickly multiply in no time. So now, let’s poke these animals to understand the world of Bitcoin. Consider the animal elephant to be a big size website dealing with mining. The rabbits can be your home miners, and horses remain medium and small-size mining tasks. Irrespective of their sizes, the animals remain capital who are busy producing complete control over their power.
Understanding with analogy
In the earlier times, we found the mining infrastructure of Bitcoin to remain captive rabbits like computers running in different offices along with other places like your bedroom or even garages. Then after a few years, we saw rabbits coming up in the network and then horses with more power and commercial efforts. We can now see horses seen in the form of data centers. You can therefore find too many rabbits and horses ready to mingle all the way everywhere. We see both the animals moving behind the elephant’s back. You can see too many Bitcoin news feeds coming along with regular announcements found with proper facilities offered with mining servers, loads of electricity consumption, and many more things that demand too much money to be brought online.
The Mining servers
If you treat the mining services like food meant for the mining community, we have the elements to be the most preferred seat for the dining table. Today, we can see the server supply to be very tight, and you can feel the hunger of the mighty animals like an elephant in the game. However, several manufacturers like Bitfury and Bitmain are more interested in catering to the elephants due to their limited capacity. Secondly, the elephants play a simple role in making the business easy. They rely on large capitals coming through the animals, which are not possible with horses and rabbits. It is the reason why horses and rabbits have limited stay so far in the market.