|
Title: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: LiteCoinGuy on August 15, 2014, 11:08:37 PM German Startup Says Its New Chip Halves Bitcoin Mining Energy
http://blogs.wsj.com/digits/2014/08/15/german-startup-says-its-new-chip-halves-bitcoin-mining-energy/ Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: CoinMode on August 15, 2014, 11:24:48 PM German Startup Says Its New Chip Halves Bitcoin Mining Energy http://blogs.wsj.com/digits/2014/08/15/german-startup-says-its-new-chip-halves-bitcoin-mining-energy/ German engineering!!! https://i.imgur.com/5wLwy.png Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: bitbouillion on August 16, 2014, 04:16:49 AM Made in USA wasn't even tested :D
Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: LiteCoinGuy on August 16, 2014, 11:07:34 AM Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: odolvlobo on August 16, 2014, 05:27:30 PM The misconception is that improvement will reduce the total amount of energy used to mine Bitcoin, but the truth is that it will result in an increase in the difficulty. The total amount of energy used to mine Bitcoin depends primarily on the cost of energy and the value of a bitcoin.
Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: bryant.coleman on August 16, 2014, 05:48:37 PM Those guys who get free or heavily subsidized electricity wouldn't mind. BTW... I am more concerned about the retail price of these chips. If they are considerably more expensive than the other chips, then there is no use in buying them.
Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: bitbouillion on August 16, 2014, 07:02:21 PM I am more concerned about the retail price of these chips. If they are considerably more expensive than the other chips, then there is no use in buying them. It all depends on if ... https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcRTzvWYA8YQxgPwlJlP6kJ7ZommCAfv8dwKYa30Z4hmeUSemcdF Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: bornil267645 on August 16, 2014, 07:04:33 PM I guess the main question will be the price 8) 8)
Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: CryptInvest on August 16, 2014, 07:05:19 PM The total amount of energy expended in mining compared to the energy expended in maintaining the banking system is negligible. Therefore, nothing to talk about.
Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: ajareselde on August 16, 2014, 09:26:45 PM The total amount of energy expended in mining compared to the energy expended in maintaining the banking system is negligible. Therefore, nothing to talk about. Ok, but theres a good chance that this will bring the price down a bit ; since the cost of mining will be lowered once more. It seams that market doesnt care how much it takes to produce a new chip. Soon im expecting to see alot of price drops in current asics, prepare for sell-threads overflow Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: patrike on August 17, 2014, 06:14:12 AM I guess that just clocking down any of the existing ASIC's to lower speed will lower their power consumption. The reason why people don't do that is because even if the chip is getting more power efficient, you still make more money by getting more hashes with the higher speed and higher power usage.
Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: CoinsCoinsEverywhere on August 17, 2014, 07:17:43 AM The misconception is that improvement will reduce the total amount of energy used to mine Bitcoin, but the truth is that it will result in an increase in the difficulty. The total amount of energy used to mine Bitcoin depends primarily on the cost of energy and the value of a bitcoin. But miners don't care about this. They just want to be the first to use the more efficient chips so they can make a profit before the rest of the miners get them and the market renormalizes.Title: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: barney_stinson on August 17, 2014, 06:41:11 PM Quote Due to this, at some point, miners pay more for energy costs than they get back in bitcoin. I always thought about this problem. I hope the solution will be foundTitle: Re: [2014-08-16] WSJ: German Startup Says Its New Chip Halves Bitcoin Mining Energy Post by: Lethn on August 17, 2014, 07:36:53 PM Quote Due to this, at some point, miners pay more for energy costs than they get back in bitcoin. I always thought about this problem. I hope the solution will be foundThat's the difficulty working as intended, it's supposed to prevent people from getting Bitcoin easily and churning out coins at a ridiculous rate, as for the cost of electricity itself, that's a problem that has plagued our species for a long time. |
