91–100 of 231 posts
Who makes money in a gold rush? It's the guy selling shovels.
So the real lesson is be immoral, break the law, diversify and don't get married.
It's not like he is the only one who thought of selling shovels with huge markups.
As a cryptocurrency-confused individual, I read articles like this and wonder how I'm supposed to assign any meaning to the "value" being created here, and by blockchain PoW in general. So this company is buying a bunch of wafers... He's converting the value of the wafers into value on blockchain, I guess? Because I can't help but interpret these things as "some people are wasting a lot of electricity, and you should…
Perhaps it might help to consider it equivalent to one converting the value of picks and buckets into value in gold. Just as the picks and buckets are worth what they’re worth, the gold is worth what someone else is willing to pay.
Earlier quoted context omitted.
I was wondering about this, why do they sell them instead of mining them? They could sell the older model once the new chips they designed are ready no?
The cynical answer is that customers are willing to pay more than the hardware will ever mine over its lifetime. The non-cynical answer is that setting up gigawatts of data centers is not trivial and not Bitmain's core competency. Also, selling the hardware upfront locks in the profit even if the price of Bitcoin later crashes.
Earlier quoted context omitted.
IDK, they're still actively supporting the LLVM backend for Myricom's LANai chips, despite Myricom being sold off a few years ago. And the NICs don't really need custom high speed RF, the foundry has a SERDES block that'll work just fine for connecting to a phy.
Yes, but what I was saying is that Google likely does not design the PHY and/or other such low-level components. I am trying to point out that designing a NIC is not equivalent to designing custom ICs, unless you are also designing the ICs used in the NIC.
https://en.wikipedia.org/wiki/Small_form-factor_pluggable_tr...
I suppose that at some point it's going to become economically feasible to make integrated BPUs (...Bitcoin Processing Units...) and obviate the ASICs.
Note that Bitmain is mostly a hardware vendor, although they do mine using their own equipment. Most of these chips will be sold to other miners, not used by Bitmain themselves.
As a cryptocurrency-confused individual, I read articles like this and wonder how I'm supposed to assign any meaning to the "value" being created here, and by blockchain PoW in general. So this company is buying a bunch of wafers... He's converting the value of the wafers into value on blockchain, I guess? Because I can't help but interpret these things as "some people are wasting a lot of electricity, and you should…
> "some people are wasting a lot of electricity, and you should pay them for it!" Hard question to answer. Is it a waste? Compared to having one centralised miner plodding along at zero difficulty, yes. But it depends what new tech/ideas comes out of all this blockchain stuff. Are particle accelerators a waste?
As a cryptocurrency-confused individual, I read articles like this and wonder how I'm supposed to assign any meaning to the "value" being created here, and by blockchain PoW in general. So this company is buying a bunch of wafers... He's converting the value of the wafers into value on blockchain, I guess? Because I can't help but interpret these things as "some people are wasting a lot of electricity, and you should…
But we are still not done with the Bitcoin bubble.
As a cryptocurrency-confused individual, I read articles like this and wonder how I'm supposed to assign any meaning to the "value" being created here, and by blockchain PoW in general. So this company is buying a bunch of wafers... He's converting the value of the wafers into value on blockchain, I guess? Because I can't help but interpret these things as "some people are wasting a lot of electricity, and you should…
Why are banknotes worth anything? They are just pieces of paper with some ink on them, after all. They are "worth" something, because people are willing to do work or trade you stuff for them. The same with mining bitcoin - instead of printing banknotes, you make a "thing" that you can then trade for services and objects, because people want to have that "thing"(this part is crucial). Most importantly, people are wil…
As a cryptocurrency-confused individual, I read articles like this and wonder how I'm supposed to assign any meaning to the "value" being created here, and by blockchain PoW in general. So this company is buying a bunch of wafers... He's converting the value of the wafers into value on blockchain, I guess? Because I can't help but interpret these things as "some people are wasting a lot of electricity, and you should…