141–150 of 352 posts
> Bitcoin miners rarely use GPUs anymore, but ASICs Seeing the title and the conclusions, how can this be the case? Computationally they're not much behind ASICs per $, are much more broadly available to buy and are easier to sell when needed.
GPUs are used to mine cryptocurrencies other than Bitcoin.
Earlier quoted context omitted.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
Yeah, they could do that, but what most of these claims ("X could easily profit Y by doing 50%+1 attack") miss, is that once that attack has been made, who'd trade anything with the currency that was attacked? Lets say nvidia does "conquer" Bitcoin and have all the bitcoins, who'd in the right mind would continue to buy/sell Bitcoins after that? The market for Bitcoin would collapse faster than nvidia could excitedly…
Earlier quoted context omitted.
Some of them artificially inflate the cost of hard drives instead of GPUs, totally not the same!
What's artificial about it?
Thus artificial.
The article only attempts to show there's correlation, and ends up by saying "correlation doesn't imply causation, but maybe there's causation". So basically, we don't know. I'm not blaming the author, because determining causation is hard, and checking there's correlation between two variables can still be interesting, but the article falls short of answering the question.
Earlier quoted context omitted.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
Yeah, they could do that, but what most of these claims ("X could easily profit Y by doing 50%+1 attack") miss, is that once that attack has been made, who'd trade anything with the currency that was attacked? Lets say nvidia does "conquer" Bitcoin and have all the bitcoins, who'd in the right mind would continue to buy/sell Bitcoins after that? The market for Bitcoin would collapse faster than nvidia could excitedly…
Earlier quoted context omitted.
Yeah, they could do that, but what most of these claims ("X could easily profit Y by doing 50%+1 attack") miss, is that once that attack has been made, who'd trade anything with the currency that was attacked? Lets say nvidia does "conquer" Bitcoin and have all the bitcoins, who'd in the right mind would continue to buy/sell Bitcoins after that? The market for Bitcoin would collapse faster than nvidia could excitedly…
Can such an attack be done without detection?
Earlier quoted context omitted.
If you mention anything about the cloud, deep learning training on GPUs and the impact on the environment that has and the increasing costs of training and fine tuning your neural net, they won't care at all, they will still do it after all these years. As you know it is still a valid point.
Mining Dogecoins and solving protein folding add the same value to society after all.
I work in deep learning and had to camp out in front of a best buy to get my hands on some 3090s. A good portion of the people in line with me were crypto miners who were waiting to get more GPUs to add to their collection because they're making money on each one and as long as it's profitable it makes perfect sense for them to buy up more.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
Assuming this was even possible, your plan has a fatal flaw.
Who the heck is going to buy the BTC back?