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Ryan Condron has been a Bitcoin miner for longer than a decade. He started out with a GPU rack, upgraded his rig to FPGAs, and then was one of the first people to run ASICs. Today, he aims to decentralize hashrate with Lumerin \u2013 a hashrate marketplace.\n\nRyan Condron has been mining Bitcoin for longer than a decade. In the beginning, he started out with a rack of video cards. Soon, he had to upgrade his hardware to include FPGAs. In less than a year, ASICs became a reality and every serious miner had to keep up.\n\nIn this episode, Ryan Condron talks about his personal experience with Bitcoin mining and also presents the research he's done on the subject of decentralizing hash rate. Since hardware distribution and ownership is difficult to change, he decided to create Lumerin: a marketplace for hash rate, where people can take control of ASIC miners by renting them. This way, they don't only collect the mining rewards (as was the case with many cloud mining services). They also make decisions on behalf of the mining hardware to suit their financial interests and/or ideological beliefs.\n\n\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\n\nEarly Days of Bitcoin Mining (00:00:48) The conversation starts with the guest, Ryan Condron, discussing his early experience with Bitcoin mining in 2012 and the shift to mining altcoins.\n\nRise of ASICs and Pooled Mining (00:03:23) The discussion shifts to the emergence of ASICs and the transition from solo mining to pooled mining, highlighting the centralization risks associated with mining hardware.\n\nDecentralization Challenges (00:05:34) The conversation delves into the challenges of maintaining decentralization in mining, the historical vision of mining, and the shift towards proof of stake in new projects.\n\nEvolution of Mining Hardware (00:06:44) The evolution from CPU to GPU to FPGA mining is discussed, along with the implications for decentralization and the development of new algorithms to resist ASICs.\n\nEfforts to Restore Satoshi's Vision (00:24:06) Ryan Condron introduces his paper on the decentralization of control and explores the challenges and solutions to restoring Satoshi's vision of decentralization in Bitcoin mining.\n\nDecentralizing Mining Devices (00:26:41) Discussion on decentralizing mining devices by allowing them to be sold on a decentralized marketplace, enabling global control and democratization.\n\nDecoupling Control and Ownership (00:27:52) Exploration of how separating control from ownership of mining devices can lead to more democratization in selecting mining pools and amassing hash power.\n\nDecentralized Marketplace for Hash Power (00:33:24) Explanation of how smart contracts enable the decentralized buying and selling of hash power on a global marketplace, revolutionizing the concept of a global commodities market.\n\nLumerin Node Setup and Usage (00:34:53) Details on setting up and using the Lumen node for purchasing and streaming hash power, including considerations for device usage and availability.\n\nExpanding the Marketplace and Future Possibilities (00:40:11) Exploration of the potential for the Lumerin marketplace to trade various data streams beyond hash power, and the future possibility of launching the same marketplace on Bitcoin.\n\nInformation and Personal Contact (00:41:02) Guidance on where to find more information about Lumen and how to follow the speaker personally.