41–50 of 162 posts
I'm consistently surprised at how tepid AMD's embrace of mining has been. If I was them and noticed that my product was literally sold out everywhere because of mining, I would embrace it, open a mining division, and immediately get to work trying to create specialized hardware optimized for mining. The fact that they seem to be pretending that this use case does not exist and stubbornly declare themselves to be excl…
I'd be surprised if GPUs and CPUs were ever shipped by sea instead of air. 6-8 weeks at sea Vs 12 hrs flight is quite serious deprecation, even if you're not mining them.
Imagine all these people wasting time, energy and power, the last of which is a crime against the environment and an affront to good sense at a time of global concern. But when it comes to money, greed and self interest always triumph and there will be dozens stretching logic and apologism as far as it can go. 'Proof of work' has to the most hare-brained, wasteful, anti-environment scheme ever thought of. Responsible…
Earlier quoted context omitted.
Why don't you do the calculation, and come back when you figure out just how tiny fraction of the whole energy spending this represents.
He also needs to do the calculation for credit cards, the banking industry and central banks, for comparison purposes.
Earlier quoted context omitted.
Mining with GPUs hasn't been profitable since around 2014. GPUs have largely been replaced by ASICs (although certain coins are still mineable with GPUs, like Ethereum[1], as discussed in the article). Bitmain[2] is (AFAIK) the manufacturer of ASICs for mining. [1]: https://motherboard.vice.com/en_us/article/59zdjq/an-idiots-... [2]: https://www.bitmain.com/
If mining is profitable at all, why wouldn't a manufacturer of ASICs or GPUs run its own mining operation?
This is a gold rush[1]. People that were early in BitCoin already cashed, now profit is made on exchanges and by hardware suppliers. It is even worse than Gold because you can't just hold when market crash. https://en.wikipedia.org/wiki/California_Gold_Rush
I heard that last time before the crash. Kind of a weird statement to make now that it's at $2800.
Imagine all these people wasting time, energy and power, the last of which is a crime against the environment and an affront to good sense at a time of global concern. But when it comes to money, greed and self interest always triumph and there will be dozens stretching logic and apologism as far as it can go. 'Proof of work' has to the most hare-brained, wasteful, anti-environment scheme ever thought of. Responsible…
If proof of work is being done during peak solar load times the effect on the environment is negligible.
I'm consistently surprised at how tepid AMD's embrace of mining has been. If I was them and noticed that my product was literally sold out everywhere because of mining, I would embrace it, open a mining division, and immediately get to work trying to create specialized hardware optimized for mining. The fact that they seem to be pretending that this use case does not exist and stubbornly declare themselves to be excl…
Or set up a startup thru which they mine coins themselves.
I'd be surprised if GPUs and CPUs were ever shipped by sea instead of air. 6-8 weeks at sea Vs 12 hrs flight is quite serious deprecation, even if you're not mining them.
In GAAP you don't have to do calendar time-based depreciation (assuming you're dealing with something that doesn't have a finite life, e.g. nuclear fuel rods). There's also usage based depreciation, so, for example, you only depreciate the cost of the GPU while the computer is powered-on or the cost of a truck based on how many miles it's gone.
I'd be surprised if GPUs and CPUs were ever shipped by sea instead of air. 6-8 weeks at sea Vs 12 hrs flight is quite serious deprecation, even if you're not mining them.
In GAAP you don't have to do calendar time-based depreciation (assuming you're dealing with something that doesn't have a finite life, e.g. nuclear fuel rods). There's also usage based depreciation, so, for example, you only depreciate the cost of the GPU while the computer is powered-on or the cost of a truck based on how many miles it's gone.