AMD said that revenue this year is comparable with last year's income.

[matuson]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

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[Script]

Are people still mining bitcoin with graphic cards?

Their revenue is up because their cards are good and people play video games that require a good graphics card...

Edit: I see what you're talking about, it's about altcoin mining.

http://www.cnbc.com/2017/07/26/wall-street-stunned-over-amds-cryptocurrency-mining-demand.html

[Xavofat]

Due to the growing demand for graphics cards they have already earned more than $ 800 million. This is a real achievement of bitcoin.

Not really an achievement.  More like a symbol that cryptocurrencies' Proof of Work system is the least efficient thing ever created.

Seriously, people are spending hundreds of millions of dollars to prove that they can waste money and make a chain secure. 

An "achievement" would be figuring out a way to fix this without resorting to shit systems like PoS.

[SonyEricSon]

Does the amd company also invest in bitcoin? Or are their products widely used in bitcoin world?

[CuriousGeorge]

Does the amd company also invest in bitcoin? Or are their products widely used in bitcoin world?

Dude, have you ever read the post above you? You just made the post with unknown direction. 

Due to the growing demand for graphics cards they have already earned more than $ 800 million. This is a real achievement of bitcoin.

Not really an achievement.  More like a symbol that cryptocurrencies' Proof of Work system is the least efficient thing ever created.

Seriously, people are spending hundreds of millions of dollars to prove that they can waste money and make a chain secure. 

An "achievement" would be figuring out a way to fix this without resorting to shit systems like PoS.

They are not only securing the chain of the pow coin but they are also trying to throw the coin every day to the market. That was for sure. It just an achievement caused by the hype to mine the money from pow coin.

[iluvpie60]

Due to the growing demand for graphics cards they have already earned more than $ 800 million. This is a real achievement of bitcoin.

Not really an achievement.  More like a symbol that cryptocurrencies' Proof of Work system is the least efficient thing ever created.

Seriously, people are spending hundreds of millions of dollars to prove that they can waste money and make a chain secure. 

An "achievement" would be figuring out a way to fix this without resorting to shit systems like PoS.

So what should be done exactly?

Just pre-mine all the coins and thorw it out there? Not really sure what else would be done. If there wasn't hundreds of millions tied up in miners, the miners would just do what they want.

What is there to stop someone frorm doin double spends and changing the code if the miners/nodes weren't there? It would be centralized then correct?

[Hazir]

I don't know anyone who uses graphic card to mine Bitcoin anymore - so this is not exactly achievement linked to BTC.
We have no way to tell how high is proportion of graphics cards used for altcoins mining.
I would rather assume that exceptionally high AMD's revenue is caused by how well are new consoles received PS4 and XBox1 - AMD is the main manufacturer of graphics card for those.

[DaMut]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

What do you mean by 'This is a real achievement of bitcoin' ?
It has nothing to do with 'achievement' of Bitcoin or whatever,they're a company known selling GPU/VGA card which mean everybody(most of them) using this for their Game Console,PC or for their own purpose.
Plus,only a certain people(may be because it's no longer profitable) using this to mine Bitcoin the reason is very simple.Difficulty
So their revenue has nothing to do with 'Bitcoin Achievement' and as far as i know,many people using this to mine Alternative coin.

Something like that can not be said as 'an achievement' even thought they might be buy it for altcoin but it can not be considered as 'an achievement',if you want to know what is called 'an achievement' you can see something like this (For Example):
'Bitcoin accepted as a main payment point for every store in Asia country'

[TheFriends]

I think this demand must be to Ethereum and Zcash mining, not Bitcoin.

[CowboyKiller]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

WTF??? AMD is GPU, and it not for Bitcoin miner, are you know when mining Bitcoin need use Asic in current? You can said this is a real achievement of Ethereum, Zcash and other altcoin use GPU for mining (not support Asic).

[dothebeats]

Due to the growing demand for graphics cards they have already earned more than $ 800 million. This is a real achievement of bitcoin.

Not really an achievement.  More like a symbol that cryptocurrencies' Proof of Work system is the least efficient thing ever created.

Seriously, people are spending hundreds of millions of dollars to prove that they can waste money and make a chain secure. 

An "achievement" would be figuring out a way to fix this without resorting to shit systems like PoS.

Achievement to AMD, at least

PoW would still be the king of a secure chain seeing that in order to overwrite the whole thing, you need to have hardware that is worth millions. If you are even successful, the coins would be worthless by then, seeing that people would dump the coin.

--

It seems that the GPU market is currently stabilizing for now. For 12 weeks, the supply of AMD's RX cards has been in its lowest—globally. Also, the cards were used for altcoin mining and not btc.

[audaciousbeing]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

I actually read something about this weeks ago on how the graphics card is becoming more scarce in Russia and it was linked to crypto mining and whatever happens to crypto, bitcoin is involved which I feel its also a success story for bitcoin and also a message that instead if using your resources to play video games you also use same to make some money on the side. AMD might not admit openly but I am sure they will adopt improvements to make their products more efficient to meet the needs of the crypto world.

[HabBear]

This is a real achievement of bitcoin.

This not an achievement of bitcoin, it's an achievement of AMD!

A graphics card manufacturer doing well because people want to mine bitcoin or altcoins doesn't have any correlation to the success of bitcoin. More miners doesn't make bitcoin subject to greater adoption, greater appreciation, or greater transaction volume. It should allow transaction confirmation times to reduce, but honestly I don't think it even has that affect.

Graphics cards are antiquated for bitcoin mining anyway. Once the ICO bubble pops AMD should see sales drop off. Sounds like a perfect time to short AMD, knowing that the drop will come sometime next year.

[CryptoGeneral]

AMD is small compared to other tech giants. Who knows, maybe the stockprice for AMD is undervalued?

[Iranus]

A graphics card manufacturer doing well because people want to mine bitcoin or altcoins doesn't have any correlation to the success of bitcoin.

Well it does have a correlation to the success of altcoins.  No one mines Bitcoin with GPUs anymore so for Bitcoin it's completely irrelevant, but it's a good sign for altcoins.  It shows that enough people are investing money into the long-term future of the coins by buying equipment that will take >1 year to ROI, which is a better sign than just buying in as that can be a more short-term investment and it's subject to panic.

Also, you don't understand what a correlation is.  What you're trying to argue is that it doesn't show the success of altcoins, but there is certainly a correlation, because the difficulty goes up with the price and the price goes up with investment.

It should allow transaction confirmation times to reduce, but honestly I don't think it even has that aeffect.

It's not supposed to have that effect.  Blocks are mined roughly every ten minutes regardless of the amount computing power dedicated to the network, which is why difficulty exists.

[HAARP]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

Achievement of bitcoin? How did you create a connection between GPU sales and bitcoin?

This is the revolution and achievement of altcoins leadered by ethereum and ethereum classic. AMD and NVIDIA will keep growing their GPU sales as the mining activities continue.

[eaLiTy]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

This is not an achievement of bitcoin at the present context because no one uses a graphic card to mine bitcoin,but everyone is stacking up graphic cards to mine alt coins,which is really profitable at the moment and it is really hard to get a good graphic card in the market because of this situation for people who wanted to upgrade their systems as we need to wait for a longer period for specific cards,good for the manufacturers as they are earning big with the sales.

[GreenBits]

AMD said that revenue this year is comparable with last year's income. Due to the growing demand for graphics cards they have already earned more than $ 800 million. Shares of AMD have risen in price on 9%. This is a real achievement of bitcoin.

This is not an achievement of bitcoin at the present context because no one uses a graphic card to mine bitcoin,but everyone is stacking up graphic cards to mine alt coins,which is really profitable at the moment and it is really hard to get a good graphic card in the market because of this situation for people who wanted to upgrade their systems as we need to wait for a longer period for specific cards,good for the manufacturers as they are earning big with the sales.

i will concur no one is mining bitcoin on a graphics cards but, most of these alts are immediately cashed out for bitcoin, as evidenced by it having the largest market cap. the mining activities on these alternative chains drive the bitcoin economy because they are connected so closely. Bitcoin is like the USD of the crypto world, most things move by a bitcoin pegged standard (this is slowly turning to ETH, but thats a different thread).

People are using these coins to experience the mining crazy they missed some years back. People arent holding most of the coins they mine, they get dumped almost as soon as they get acquired. Bitcoin needs those cards to survive just as much as it needs its asics; they are the stepping stone into bitcoin ownership that the monolithic mining associations have denied most of us.

[Hydrogen]

Its been said GPU mining is more feasible with BTC's jump from $1,000 to $2,500. The upswing in average crypto value which arose as a result is also a big factor.

The double in price could be roughly proportional to mining difficulty halving in terms of cost effectivenes: time & electricity measured against profit.

I like some of AMD's past innovations. Can't say I've kept up much with what they've been up to. I've heard complaints about AMD's screen capture technology. AMD also may not be as well supported as radeon in terms of raytracing and other utilities. For straight gaming and crypto mining AMD could be a solid product though.