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Author Topic: What if Google or Yahoo was to enter the bitcoin mining world?  (Read 731 times)
Bit by Bit
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March 29, 2013, 01:46:40 AM
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These companies have extreme amounts of processin power at their hands and if they were able to use it to mine bitcoins wouldn't that basically kill the bitcoin mining scene?

*sorry if repost.
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ChickaDee
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March 29, 2013, 02:43:17 AM
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That would never happen....
boscorocks
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March 29, 2013, 02:49:23 AM
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These companies have extreme amounts of processin power at their hands and if they were able to use it to mine bitcoins wouldn't that basically kill the bitcoin mining scene?

*sorry if repost.

If they preordered from BFL, it will never happen.
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March 29, 2013, 03:10:44 AM
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Would never happen, they play in billion and trillion dollar markets, not million dollar markets that haven't even hit a bill market value/cap/whatever
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March 29, 2013, 03:14:07 AM
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Would never happen, they play in billion and trillion dollar markets, not million dollar markets that haven't even hit a bill market value/cap/whatever
It did hit $1Billion market value.
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March 29, 2013, 03:24:33 AM
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If they preordered from BFL, it will never happen.

Good one!


If bitcoin gets big enough I believe theres a chance, but I realize this would be extremely far in the future and bitcoin would have some substantial growing to do.
shockvibee
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March 29, 2013, 03:25:46 AM
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Would never happen, they play in billion and trillion dollar markets, not million dollar markets that haven't even hit a bill market value/cap/whatever
It did hit $1Billion market value.
If it did it must've just happened.

Either way.
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March 29, 2013, 03:33:08 AM
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google may come up with the googkoin and then have a reason to do it.
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March 29, 2013, 03:03:59 PM
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Also another great idea!
 
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March 29, 2013, 03:08:04 PM
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Nah, their existing processing power is pale with comparison with the current miners.

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March 29, 2013, 03:27:17 PM
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Nah, their existing processing power is pale with comparison with the current miners.

This. Their current warehouses are mostly focussed on data storage and data retrieval - they're not optimized for many hash computations simultaniously. Sure, they could contribute seriously, but not on a revolutionary scale.
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March 29, 2013, 03:29:43 PM
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These companies have extreme amounts of processin power at their hands and if they were able to use it to mine bitcoins wouldn't that basically kill the bitcoin mining scene?

*sorry if repost.
We can just go to Litecoin, the mass exodus from bitcoin would raise litecoin value to near the previous bitcoin value and developing ASICs for litecoin is much more expensive and inefficient than for bitcoin so it would not be an issue
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March 29, 2013, 03:49:43 PM
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Amazon already announced the Amazon Coin for Kindle back in Feb but it's not going to be any more ground breaking than PayPal as a centralized ring fenced currency.  Wink

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March 30, 2013, 03:41:40 AM
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I've come to the same conclusion, however what if these companies were to purchase or make their own ASIC miners?
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