31–40 of 46 posts
What is their internet connection, fiber? Surely they must have a special contract or multiple providers.
I don't think Bitcoin is a big bandwidth user. A lot of little/small connections.
Running a wallet with a full block chain would take more bandwidth.
I wonder how much effort they've put into optimisation? Small gains (1-2% rather than order of magnitudes) for these guys obviously mean a lot more than for any bedroom operation.
I wonder how much effort they've put into optimisation? Small gains (1-2% rather than order of magnitudes) for these guys obviously mean a lot more than for any bedroom operation.
I wonder how much effort they've put into optimisation? Small gains (1-2% rather than order of magnitudes) for these guys obviously mean a lot more than for any bedroom operation.
They're ASIC processors. It's already set in stone (silicon, whatever).
Earlier quoted context omitted.
It's $200k/month worth of Bitcoin . The 'liquidity' we're talking about here is converting Bitcoin into local currency that you can purchase things with.
Again, not a problem.
I wonder about the effects of such establishments on the Bitcoin ecosystem as a whole. In theory, they're supposed to strengthen the network by providing more hashing power. But what worries me is the onset of mega-pools composed of such factories that will gain >51% of the network's computational power effectively gaining a monopoly on Bitcoin.
There is no reason factories like this would WANT to disrupt the Bitcoin network if it's their source of income.. If any organization can get enough hashrate to topple the network, they will lose all that money by toppling the network.
You're assuming the people disrupting the network for short term gain are the same as those who made the up front investment into the operation.
This is not true. GHash's past double-spend attack was carried out by a rogue employee. The BGP-hijacking attack which was in the news a few days ago shows another route to a 51% attack. An attacker who can trick a bunch of big miners to mine for him instead of themselves could just as easily have tricked them into performing a doublespend attack.
All they're missing is some chrome and neon, and we're living the cyberpunk dream.
Earlier quoted context omitted.
Again, not a problem.
Possible, perhaps, "not a problem", seems pretty untrue. How exactly would someone go about cashing out $200k worth of bitcoin?