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Bitcoin [BTC] chip miners to overthrow Bitmain as the dominant mining giant?

Priyamvada Singh

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Bitcoin [BTC] chip miners to overthrow Bitmain as the dominant mining giant?
Source: Pixabay

On 21st September, the two of the biggest Bitcoin influencers, Tone Vays and Jimmy Song appeared on a YouTube broadcast to discuss the hottest topics in the cryptocurrency space. The focus of the conversation was Bitfury’s claim to have launched the best ASIC Bitcoin miner earlier this week.

According to the Bitcoin Core developer, Jimmy Song, the announcement of Bitfury’s new ASIC chip miner along with Bitewei’s WhatsMiner launch is going to break the monopoly claimed by Bitmain in the space. Bitmain is the mining giant based in China and is feared to have a hashing power of over 40% in the Bitcoin network. This can enable Bitmain to charge a 51% attack on the network, leading it into a crash.

The interesting thing about this is that it’s a 14 nanometer process and apparently they got all of the efficiencies out of it. This along with the news of WhatsMiner […] I think the monopoly of Bitmain is breaking up.”

Song also stated that the lead chip designer at Bitmain quit the company and moved to Bitewei [WhatsMiner] for the same job. He believes that WhatsMiner is doing appreciable work in the field of ASIC chip designing. He also mentioned the legal suite that took place between Bitmain and Bitewei.

Here, Bitmain sued Bitewei over a serial power supply circuit patent to prevent manufacturers from working with Bitewei. However, China’s governing body known as the State Intellectual Property Office invalidated Bitmain’s patent in April 2018.



Bitfury is also likely to achieve success with its new mining chip as a 14-nanometer chip has inherent advantages over a 16-nanometer chip, stated Song. Furthermore, he said that the chip is going to be faster and more efficient than other products, and might takeover Bitmain through the price factor.

Tone Vays joined in to share his viewpoint on Bitfury. He stated that the new launch is going to help the company’s business. Additionally, he mentioned the history of Bitfury where it was more successful than Bitmain, having the mining operation of close to 51% attack on the Bitcoin network at one point. However, the company is preparing a comeback now since its mining operations shrunk to a considerable percentage previously.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Bitcoin Cash

Bitcoin Cash [BCH] rolls out iOS version of Bitcoin Cash Register

Rishi Raj

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Source: Pixabay

Bitcoin Cash [BCH] recently made headlines when the CEO of Bitcoin.com, Roger Ver got involved in a bet of $10,000 with Tone Vays, a popular Bitcoin maximalist which the former lost. After launching a free point-of-scale solution, Bitcoin Cash Register for Android operating systems, Bitcoin.com and its developers have rolled out an iOS version of the same.

Bitcoin Cash register allows anyone with an Android or iOS device to accept BCH payments. This came as a part of the company’s agenda to promote the adoption of crypto in the mainstream. With the installment Bitcoin Cash Register, it would be easier for retailers to accept BCH as payment from customers.



As reported by Bitcoin.com, Bitcoin Cash Register claims to be easy to use without any prior account registration and the transactions are carried out in a non-custodial manner. This was confirmed by Bitcoin.com via a tweet:

The bet between Roger Ver and Tone Vays regarding the low transaction fee had left the social media divided, with proponents on both sides arguing about the authenticity of the bet and factors taken into consideration while betting.





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