Comment Re:WTF... (Score 1) 691
Similarly as the dedicated hardware gets more advanced, mining on GPUs and especially CPUs becomes completely useless, so even with thousands of nodes you will never make any worthwhile amount. The returns from using malware to mine bitcoins must be pretty tiny today, even with huge numbers of infected systems.
This is interesting because it relates to one of the problems I have wondered about with Bitcoin for a while. Largely, trust in Bitcoin (at least for me) depends on the idea that "anyone" can (and will) verify a block and hence it is difficult to cheat. But as mining becomes uneconomic for anyone who doesn't have specialised rigs, the number of people who can realistically and economically verify blocks starts to shrink, potentially quite rapidly.
This effect is irrespective of the USD/whatever value of a Bitcoin and of the absolute number of Bitcoins earned in a mining transaction - it's simply about economies of scale in the marginal cost for mining which leads to marginal revenue being below the marginal cost for most people using the currency - ie the gradual appearance of a barrier to entry in mining for smaller players. This in turn magnifies the risk of collusion. Thus as Bitcoin becomes more popular, it also becomes less trustworthy, which is not a property you would ideally want it to have.
In reality I doubt this is likely to be a big problem as most people are willing to trust central banks already, compared to which Bitcoin is always likely to be a least a little bit "better"; but it is an interesting philosophical question.