Bitcoin Forum

their chip will be based on the future nm processing, they will be for sure less power hungry, and i suppose more efficient overall

if thats true i cant imagine what is comming soon, i didnt know if this is a good or bad news :(

lets see whats happen...

Why would be bad news? If it will need less energy to make more hash power, that mean that Bitcoin network will be stronger for this price or will be cheaper for this strength. So only good things.

That means price wont rise ? How come that be a good news ?

their chip will be based on the future nm processing, they will be for sure less power hungry, and i suppose more efficient overall

When you do not have the cable on it will pull 1 watt and hash at 10 gh.  when you turn the cable on it will pull 2 watts and hash at 20gh

They will put a 1-2watt chip in every cable box. 

When you do not have the cable on it will pull 1 watt and hash at 10 gh.  when you turn the cable on it will pull 2 watts and hash at 20gh

It will be in every cable modem same idea..

Take the Cablevision  Box now when turned off it pulls 4 -5 watts  When running it pulls more.

I have 2 cablevision units and a Modem all of these run 24/7   .  How many have them in the world?

I have read several threads regarding the plan of 21 Inc. on putting embedded miners on some devices like your toaster and your oven, but how would that work, I haven't got any clue. The new proposed chips will be more efficient compared to what is already in the market. This could probably strengthen the network overall.

electric dryer runs 65 minutes to 90 minutes  uses more then 3000 watts .

 So lets  say   4.4 kwatts per   load  or 132 kwatts a month or 13.20 usd a month. at 1 load a day.

putting in gear here and letting the waste heat do work may  allow for 2 hours of mining 1 kwatt each hour or if the gear does .2 watts it is like mining 5th for 2 hours

may be workable may not.

But the cable box pulls juice when idle 24/7/365 less chips less to notice.

Only time will tell what they do.

if thats true i cant imagine what is comming soon, i didnt know if this is a good or bad news :(

lets see whats happen...

Is a new arms race coming?

Also when they talk about embedded mining, do they mean mobile or what?

Only drawback would be, the 'free' is not free, you will notice it when the energy bill is way up, then your toaster and phone aren't so free anymore.

My phone's battery can hardly last a day, let alone if it is mining when idle, it will need a chord 24/7. You would have  a free but not so mobile phone :(

And not your toaster, but everything plugged into your sockets is now eating more power because of these mining chips.

I don't get it, why are people thinking this is a positive thing? This company seems to me to be the biggest and realest threat we have had to Bitcoin yet. This company is going to work with the major players on making an extremely hard to compete with chip and essentially be able to take over the network by giving out damn toasters. They have the most realistic chance of being able to have control of 51% of the network. I am not psyched for this at all unless we are able to program the software to mine on any pool we like, other than that it would be bad.

how they can perform a 51% if their intent is to make casual mining possible(even if would be useless in this case, because of the ridiculous earning), they don't contorl the miners i suppose, they just give you the thing with the chips, so you are the owner, and the distribution should be vastly better than what we have right now

I don't get it, why are people thinking this is a positive thing? This company seems to me to be the biggest and realest threat we have had to Bitcoin yet. This company is going to work with the major players on making an extremely hard to compete with chip and essentially be able to take over the network by giving out damn toasters. They have the most realistic chance of being able to have control of 51% of the network. I am not psyched for this at all unless we are able to program the software to mine on any pool we like, other than that it would be bad.

The issue is the company 21 is working with intel and other top tier chip manufacturers, Bitmain isn't going to be able to compete at all, the best they could do is reverse engineer their chips possibly.

I am pretty sure that they will be mining at their own pool.
I do not think that they will give you discounted appliances and the option to mine for yourself.

Where did u get the info that 21 is working with Intel ? AFAIK, Intel has not yet joined the mining competition. Once they do, the landscape will change.

Comcast was not the only major company named in the documents.

For example, 21 indicated it had been processing bitcoin transactions with what it called the "only chip" built at computing giant Intel’s foundry, touting close relationship with US computing giant Intel.

Intel factories, the documents suggested, were responsible for at least two generations of 21 bitcoin mining chips, a 0.57 w/GH 22nm FinFET chip (codenamed CyrusOne) and a 0.22 w/GH 22nm chip (codenamed Brownfield).

Though Intel has so far kept its relationship with 21 quiet, the bitcoin startup took the opposite approach in its company overview, which included a screenshot of an email allegedly from Intel CEO Brian Krzanich. Dated 5th September, the email finds Krzanich informing Pauker and investor Marc Andreessen of his opinion on a proposal to distribute bitcoin mining chips in consumer electronic devices.

Krzanich indicated he would be instructing Intel VP and GM Doug L Davis to evaluate the potential addition of mining chips to Intel products, including desktop PCs, writing: "I am copying Doug on this note to make an introduction … but trust me I will stay 100% engaged in this and be the godfather of it at Intel."

Intel’s apparent vote of confidence in the company was detailed in another entry.

"We are taking your suggestion very seriously and if Intel was to ubiquitously apply mining to the majority of our chips, it is a significant event and will impact the landscape," general manager of the New Business Group at Intel Corporation Jerry R Bautista remarked in an email with Pauker.

Both 21 and Andreesseen Horowitz declined to comment on the nature of any talks with Intel. Intel did not offer a response when contacted.

I think the risk of 51% attack is wildly overblown these days. Given that the current Network Hash rate is say 300PH, you can't just add 30PH (a stunning feat by itself) a week and get anywhere. After 2 weeks (actually less), the difficulty ratchets up, and boom your next 30PH doesn't get you as far. At that point, you are just chasing the difficulty increases every two weeks.

I think the only way to mount an effective 51% attack is quietly build, but don't actually mine, your 300+ PH mining data centers where ever. Once everything is ready, your actually launch the attack after the next difficulty adjustment. And hope and pray you achieve your objective in 7-10 days. You won't have 14 days if you massively increase the hash rate, because those 2016 blocks will fly by quickly.

Assuming you can get to 51% what do you do then? Bitcoin still requires people to trust it in order to accept it. If it appears to be compromised in some way, those "Bitcoin Accepted Here" stickers will disappear right quick. My personal feeling is that a 51% attack will crash Bitcoin, and render it unusable.

Yes, I would be sad that my Bitcoin expenditures were wasted.

they will be able to add much more than 30PH, they can actually do a 100% attack, think about, it if even 1 house is running 50 giga multiply this for even a mere 1M house and you have already 50peta, then you just need x10 that to surpass the whole network, not something that difficult to achieve, if you operate on a massive large scale like the entire worl

How long will it take to distribute and get those 1M miners working? 2 months? Six months? A year? Unless they can actually co-ordinate the start of that massive number of "mini miners" then they dribble in over time and their ability to get to 51% is blunted by difficulty increases and other miner sales. Of course maybe they can convince the other mining farms to just turn off their equipment and let 21Inc "run the table".

I am also curious about the actual impact of a 51% attack. Does it persist forever? Do we end up with more than the 21M Bitcoins at the end? What actually happens under that scenario? I have simplistic view that it allows somebody  to produce "counterfeit Bitcoins". What's the practical impact on the Bitcoin economy? Does the whole block chain collapse, or does it become un-trustworthy in some way?