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Title: JP MORGAN builds FPGA supercomputer... Post by: BitCointransfers on July 12, 2011, 12:21:24 AM http://www.computerworlduk.com/news/it-business/3290494/jp-morgan-supercomputer-offers-risk-analysis-in-near-real-time/ Title: Re: JP MORGAN builds FPGA supercomputer... Post by: Serge on July 12, 2011, 12:31:26 AM Three years of development = huge investment.
Title: Re: JP MORGAN builds FPGA supercomputer... Post by: bb on July 12, 2011, 12:31:44 AM How funny would it be, if JP Morgan mined all remaining bitcoins overnight, effectively becoming the central bitcoin bank? ;D
Title: Re: JP MORGAN builds FPGA supercomputer... Post by: imperi on July 12, 2011, 01:06:51 AM How funny would it be, if JP Morgan mined all remaining bitcoins overnight, effectively becoming the central bitcoin bank? ;D There's no way their supercomputer is more than even 10 petaflops. Title: Re: JP MORGAN builds FPGA supercomputer... Post by: EricJ2190 on July 12, 2011, 01:23:25 AM How funny would it be, if JP Morgan mined all remaining bitcoins overnight, effectively becoming the central bitcoin bank? ;D They couldn't. Even if it could mine that fast, they would get no more than 2016 blocks before the difficulty changes to account for the new processing power. Title: Re: JP MORGAN builds FPGA supercomputer... Post by: marcus_of_augustus on July 12, 2011, 04:44:27 AM Quote “Being able to run the book in 12 seconds end-to-end and get a value on our multi-million dollar book within 12 seconds is a huge commercial advantage for us,” Stephen Weston, global head of the Applied Analytics group in the investment banking division of JP Morgan, said at a recent lecture to Stanford University students." This is great .... they'll be able to know exactly in real time (within 12 sec) when they go insolvent during the next phase of the collapse. Title: Re: JP MORGAN builds FPGA supercomputer... Post by: Stardust on July 12, 2011, 08:05:40 AM They probably followed this forum, I was hoping they will buy bitcoins not mine them, f*** they are always a step ahead (of us, not the early miners).
Still this shows the succes of Bitcoin. Title: Re: JP MORGAN builds FPGA supercomputer... Post by: peach on July 12, 2011, 04:03:16 PM They aren't going to use this for Bitcoins. ::)
Title: Re: JP MORGAN builds FPGA supercomputer... Post by: BitcoinPorn on July 12, 2011, 06:16:58 PM They couldn't. Even if it could mine that fast, they would get no more than 2016 blocks before the difficulty changes to account for the new processing power. If people want to make a hypothetical situation real, I would take it to the next step and say all the mining pools would band together just to ensure that JP Morgan does not benefit as much as they would like to. Title: Re: JP MORGAN builds FPGA supercomputer... Post by: SgtSpike on July 12, 2011, 06:23:31 PM They couldn't. Even if it could mine that fast, they would get no more than 2016 blocks before the difficulty changes to account for the new processing power. If people want to make a hypothetical situation real, I would take it to the next step and say all the mining pools would band together just to ensure that JP Morgan does not benefit as much as they would like to. Title: Re: JP MORGAN builds FPGA supercomputer... Post by: Xenland on July 12, 2011, 08:39:17 PM How funny would it be, if JP Morgan mined all remaining bitcoins overnight, effectively becoming the central bitcoin bank? ;D They couldn't. Even if it could mine that fast, they would get no more than 2016 blocks before the difficulty changes to account for the new processing power. Oh they are smart and they would only use 1/10th of their power and ride the wave up the 21 million!!! Title: Re: JP MORGAN builds FPGA supercomputer... Post by: bb on July 16, 2011, 12:16:45 PM I'm surprised nobody sees the worst case here: they mine for a couple of seconds until the next difficulty increase, which will be huge (such that they would only generate one block per 10 minutes). And then they just stop.
When the pools take back over, block generation might take weeks and the bitcoin network is effectively dead. ;D |