Bitcoin mining is increasingly becoming a game best played by giant publicly-traded companies. That is raising fears among a bitcoin community that holds decentralization to be a guiding light above all else.

FutureBit, founded by John Stefanopoulos, is striving to reshape power dynamics in bitcoin mining with a focus on decentralization and individual participation.

In a recent discussion with Roundtable anchor, Rob Nelson, the conversation centered around the challenges and opportunities within the mining industry, emphasizing the need for balance between corporate dominance and grassroots involvement.

Nelson opened the conversation by highlighting the rapid growth of the mining industry and its increasing centralization. He mentioned the dominance of large corporate miners whose tickers run on the New York Stock Exchange, to which John expressed his dissatisfaction. John emphasized the need for a return to decentralization, recalling the early days when bitcoin mining was done on laptops and desktops by individuals.

"It kind of goes against the ethos of what Bitcoin's about," Stefanopoulos said. “If we have mining concentrated in a couple dozen corporate farms, these guys are the ones producing all the blocks, they’re the ones producing all the transaction processing. So let’s say the government comes in and says, 'We don’t wan’t X, Y, and Z to create transactions of the bitcoin.' What are they going to do? They are going to comply.”

John's vision with FutureBit is to bring back that decentralization. He explained that the current trend of corporate-controlled mining and wallet services is contrary to bitcoin's original ethos. He warned of the risks associated with such centralization, particularly regarding government interference and compliance by these corporate entities.

Nelson acknowledged the significant infrastructure provided by large mining companies but stressed the importance of maintaining a decentralized network. He questioned the feasibility of achieving this decentralization profitably. John responded by introducing FutureBit's small, efficient desktop miners designed for individual use. These devices consume only 200-300 watts and integrate a full node, making them accessible and practical for anyone, even those living in small apartments.

The cost of these miners, John noted, is comparable to a medium-priced laptop, around $800. He explained that while the financial return might seem modest—around $300 to $400 worth of bitcoin per year—the true value lies in the appreciation of bitcoin over time. He shared examples of customers who have seen significant gains from their mining investments over the years where bitcoin's price has appreciated.

Nelson pointed out the challenge of the initial investment and the time required to see returns. However, he agreed with John on the long-term potential and the importance of supporting bitcoin's decentralization. John emphasized that FutureBit's target market includes individuals who already hold bitcoin and want to contribute to the network's decentralization.

John also highlighted the educational aspect of using a mining device. He believes that running a miner provides a deeper understanding of bitcoin and its network compared to simply buying bitcoin from an exchange.