All about Blockchain, Cryptocurrency, Digital Transformation

Discussion in 'Off Topic' started by Dr. AMK, Jan 7, 2018.

  1. hmscott

    hmscott Notebook Nobel Laureate

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    Well, this is disturbing... hopefully this won't kick off another Bitcoin run up and hence induce another GPU drought, or maybe this will have the opposite effect and make GPU mining unprofitable against the new 5nm ASICs dedicated hardware:

    5:52 - TSMC’s 5nm Bitcoin Plans - UFD Tech

    TSMC making 5nm ASICs for Bitmain and Canaan in 2020
    Bitcoin ASIC design houses Bitmain and Canaan are the first to get 5nm chips from TSMC
    By: Anthony Garreffa from 1 day, 15 hours ago
    Read more: https://www.tweaktown.com/news/69632/tsmc-making-5nm-asics-bitmain-canaan-2020/index.html
     
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  2. Nick

    Nick Mr.Mischief

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    ASICs are machines built specifically for mining, they don't use consumer GPUs afaik. ASICs outperform consumer GPUs by a large margin, so I don't foresee much competition between the two.
     
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  3. Jarhead

    Jarhead 恋の♡アカサタナ

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    This is assuming that they even ship these things and dont scam buyers like previous ASIC mining rig companies have done.
     
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  4. Nick

    Nick Mr.Mischief

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    I remember hearing a rumor that the ASIC company would use their machines for a while, then sell them when the difficulty increased and they had faster ASICs ready. Basically, the consumer never really had the latest, fastest ASIC.
     
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  5. hmscott

    hmscott Notebook Nobel Laureate

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    It's a co-dependent realm in that if the ASIC's generate more interest in Bitcoin, Bitcoin goes up, then the Alt-Coins follow and increase in value, so even if the ASIC's outperform the GPU's on a limited sub-set of coins, there are coins they don't cover, and so more GPU's are sold to mine those coins due to rising value - with no competition from the ASIC's.

    One rising tide lifts all boats. :)

    The 5nm ASIC's shows the die hards haven't given - or haven't gone broke yet, which is too bad.
    There is a time limit after which if you get an ASIC machine your time to break even is outside the power break even point of the machine - you are losing money to run it while you are still trying to pay for the sunk costs.

    Yup, that's another scam out of the many scammy things about cryptocurrency.
     
  6. Nick

    Nick Mr.Mischief

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    Despite the scammy nature, I appreciated being able to send/receive ~$10,000 in seconds without involving a bank. Ironically, it was for the sale of mining rigs. I sold my rigs at a solid markup just before the crash of 2018.
     
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  7. hmscott

    hmscott Notebook Nobel Laureate

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    So cryptocurrency is good for getting rid of cryptocurrency? ;)

    How long did it take to convert that $10k into hard currency?

    Cryptocurrency is a waste of human effort and natural resources, and pollutes the environment world-wide more than small countries.

    Cryptocurrency is also one of the best facilitators for speculation and related abuses - get rich quick scams among many others.

    Building a Digital "money" exchange makes sense leveraging off of a stable based existing currency - but we aren't there yet with the required reliability and scalability - even using blockchain as an inefficient implementation.

    Cryptocurrency as it's implemented will never get there, it's a haven for illicit activities and scam artists. The sad thing is Bitcoin and alt-coins are already traceable due to their design, it's not safe for illicit activities either. It's useless.

    At least that's how I've seen it all mature since the 90's.

    A complete re-thinking of the problem and new technology solutions need to be done.

    Or use existing debit card operations with a user connected distributed ledger, but why?
     
    Last edited: Jan 7, 2020
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  8. Dr. AMK

    Dr. AMK Living with Hope

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