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Chuanshi bitstamp

Farms of GPUs are all the rage now, but dedicated mining hardware has also enjoyed a following among those who are serious about their fictitious money. The state-of-the-art for such devices is moving just as rapidly as cryptocurrency itself is, which means older mining gear can now be picked up fairly cheap on the second-hand market.

He compiled a collection of commands and learned enough to be dangerous which is always the goal here at Hackaday. For example, he found that the could set the frequency of the BM as high as he wished without any consideration for thermal overload. Once he figured out how to give the hardware hashes to work on over the UART interface, he setup a little head-to-head competition between the software he wrote to command the Antminer S1 and the official control software. No drop in performance was found between his software and the real deal, which sounds like a win in our book.

Overclocking also increases electricity consumption, and the N2 would add to the cost. If your prize is fleeting digital tokens that are bound to be worthless in moments, then no. I love how Bitcoin value dropped and everyone suddenly is a critic. Especially considering at least half the arguments used against cryptocurrency also apply to fiat currency.

Yes, all currencies including gold are based on faith and trust, but fiat currency issued by a country with some political, economic and military clout is actually backed up to some extent. The faith placed in national fiat currency is faith in the belief that the country will do whatever it takes right or wrong to keep its economy going, including selling of national assets if needed.

Bitcoin is just a list of numbers on a computer. Bitcoin is only pseudonymous and there are crypt I currencies much more useful for money laundering now. Issued by a government. Government is something which always will establish in a human society, as a power distributing the common resource. Could it do anything effectively, at all? The past crisis has shown us how vulnerable the system is to different parties manipulating it for their own good.

The fact that fiat currencies can be manipulated when the market demands it can be used for good and for bad. The question is whether the parties with this power have interests aligned with yours, and whether they can be considered competent enough to use it wisely. Crytocurrencies being used by criminals to hide behind is FUD from the early days.

I honestly thought we moved past that a long time ago. Anyone saying Bitcoins are just numbers on a computer is seriously misunderstanding the nature of the fiat banking system and how that creates money from thin air. That too is a rug that could get pulled out from under us at any time, and it recently nearly happened too. Bitcoin is fundamentally flawed and many have always said the same.

If you believe that bitcoin is extremely overvalued, you may or may not be right. Can you expand on that? It has no backing whatsoever. If the price falls to zero, who cares? If a fiat currency falls to zero, its generally a turd sandwich politically, so people try to avoid this. And bitcoin also needs an electrical output equivalent to a small country to sustain all the calculations which will probably increase year on year as the list of numbers gets longer and longer.

SHA hashes…maybe some sort of security or on the other hand, penetration of security… setup? Only if your password is double sha hashed and follows the bitcoin input structure. Other than that the ASiC is useless. Each new generation obsoletes a previous one by increasing complexity and efficiency. Many ASIC miners are underwater without super cheap or free electricity.

Bitmain tried just this past week to dump a bunch of old S7 miners renamed. They will likely never make more value than they waste electricity even in China. If BTC drops much more even the S9 will be hardly profitable.

Only if you only bothered to dip your toes in it, and only think bitcoin exists. Most cryptocurrencies are pretty much exclusively mined on desktop computers, and all but bitcoin is profitable to mine in desktops. Bitcoin is just the market baseline. Most recent cryptocurrencies focus memory usage else than raw computing power, so we get limited to memory speeds, and memory costs.

Hype, scams, and drugs, are the three main uses for Bitcoin. Old scams are finding new homes with the cyber-rubes of the 21st Century. Once the bubble pops, who knows?

Sell them off, then find some new meme to invent a currency after, why not? ASIC is too fast for desktop memory; the memory would be the bottleneck. Could you manufacture faster memory? CPU-only systems encourage wide distribution of mining activity, because anybody can do it; ASIC systems encourage concentration of mining among people who have the capital to buy the latest miners which let them make more money faster, and spend it on the next generation of ASICs, etc.

I wonder if it would be profitable for someone in an area that gets a lot of sun to hook up some of these to a bank of solar panels and mine bitcoin using solar power. Or would it take too long for the miners even in a really sunny place to mine enough coin to offset the costs of the solar install? Even if you could get the device for free, you cannot make any profit when electricity is not free.

Solar Power is not an option. I have a solar powered mining setup but it mines altcoins, not Bitcoin. I managed to break even on the cost of the setup in about a month when the difficulty is low, but now it would take over 5 months to break even assuming the difficulty does not rise further as it probably will.

Please let me know how I can profitably sell solar power. Keep up the good work. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. By using our website and services, you expressly agree to the placement of our performance, functionality and advertising cookies.

But if you enjoy super volatile worthless hashes of data, be my guess. Every critic was a critic even it was going up. The only advantage is that of being distributed. All of us who actually use GPUs to render are going to be swimming in them! Is desktop magic greater than ASIC magic? So, in other words, once the price of RAM falls… Which it always has.

You could actually contribute to society and sell the solar power. Can this thing be used to process for Folding home or some other medical challenge? Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.