Good post mate and upvoted. Be aware though that your starting statement is not entirely accurate: "Bitcoin and altcoin mining uses ASICs..."
ASICs are used for Bitcoin mining indeed, or any currency that uses the SHA-256 algoritm, but for ETH for example ASICs are not available. So not all altcoins use ASICs... Cheers!
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Edited: Added the word 'some' in front of altcoin.
Thanks for the proofread, @attalis! Didn't mean to get too detailed in the post, just know that plenty of people are still unfamiliar with how it all works.