Japan ready to kick Bitmain's ass

[darkangel11]

Japan’s leading internet conglomerate and bitcoin exchange operator GMO...

And I used to think GMO is something with food and should be avoided

support this, bitmain need to lose their dominance over btc mining

How would it change anything? China would be dethroned and Japan take its place. Sounds great but we'd still have a monopoly.

[Victorycoin]

Japanese hardware and North European electricity is not a good combination, as both of them are expensive. The Japanese goods are some of the most reliable in the world. But that doesn't mean that this operation is going to be cost-effective.

Looks like you overlooked the part that says they plan to use renewable energy and cutting edge technology. Also they plan on offering cloud mining as well as the sale of their miners as well as run a bitcoin exchange.

Can't wait for this company to come alive and put an end to China's ambushment of the crypto-world.

[BitFinnese]

Japan’s leading internet conglomerate and bitcoin exchange operator GMO...

And I used to think GMO is something with food and should be avoided

support this, bitmain need to lose their dominance over btc mining

How would it change anything? China would be dethroned and Japan take its place. Sounds great but we'd still have a monopoly.

Having more competitor somehow weaken the monopoly,  I do not think they will dethrone each other, though Japan won't take its place since the mining station will be placed in Northern Europe, probably N Europe will dethrone China as the cheapest source of electricity for cryptocurrency mining equipment.  Anyway,  this is really a good news but the question is when will GMO finish their 7nm product.  As it was debated on the article, it is not soon that they will finish the product. 

[frowsiter]

Japan is always progressive country and they might breakthrough this project sooner than we think. Japan has adopted bitcoin as legal currency because they knew the potential of bitcoin and hence become the first country to adopt the bitcoin. The virtual thing is now coming to reality with their new project of building nano chips. They have always created awesome technology and ASIC would be made by them will be faster and more efficient than the traditional one. Happy about the news.


About nvidia and amd cards they might jump into mining hardware soon but who knows they might not because their cards are already in demand anyway.

[HeRetiK]

Japan’s leading internet conglomerate and bitcoin exchange operator GMO...

And I used to think GMO is something with food and should be avoided

support this, bitmain need to lose their dominance over btc mining

How would it change anything? China would be dethroned and Japan take its place. Sounds great but we'd still have a monopoly.

Having more competitor somehow weaken the monopoly,  I do not think they will dethrone each other, though Japan won't take its place since the mining station will be placed in Northern Europe, probably N Europe will dethrone China as the cheapest source of electricity for cryptocurrency mining equipment.  Anyway,  this is really a good news but the question is when will GMO finish their 7nm product.  As it was debated on the article, it is not soon that they will finish the product. 

The question about when GMO is able to enter the market with their 7nm product is the most critical one. As it stands, they would have a major advantage. But the competition doesn't sleep and the hashrate keeps growing, so if it takes them too long it will be all for nil.

[JohnBitCo]

https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/

Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.

"We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe. We will use cutting-edge 7nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology."

This 7nm would outperform the current generation of Bitmain's Antminer S9s. It will take a while until Bitmain catches up, this means that we may finally see some cracks in the ridiculous Bitmain's evil monopoly (evil because they promote dogshit like Bitcoin Cash, do evil miner things like mine empty blocks then complain about fees etc)

I hope more and more big players enter the game of mining. I remember Putin wanted to get in too, and im sure USA will be kicking miner ass too. nVidia and AMD will be there soon too with their own ASICs. This mining game has only begun. Bitmain's monopoly will be over sooner or later.

I do not think that the world will alter that much because of this. Free market economy is the reason for the many innovations on common items in the marketplace today and the same is true for crypto. If they make a faster chip, then the push for even faster chips goes on and on and the world can only benefit.

[figmentofmyass]

The question about when GMO is able to enter the market with their 7nm product is the most critical one. As it stands, they would have a major advantage. But the competition doesn't sleep and the hashrate keeps growing, so if it takes them too long it will be all for nil.

it's a 6-10 month timeline, from the looks of it, assuming all goes well. given that, i wouldn't expect them to be outperforming bitmain in q3 next year. anything can happen, but i wouldn't bet on it. i suspect the amount being invested into bitmain eclipses anyone else in the space, easily.

still, i'm really glad to see new entrants in the space. not so much for the increased legitimacy (i actually don't care about that) but for the prospect of more decentralized mining and ASIC fabrication.

[tiger2monkey]

 7nm would be much more energy efficient. Japan has advantage in chip. But Europe may not have advantage in electricity cost. They may build another mining farm in place where electricity is cheap.

It is good to see more competitors in ASICs. With the rising bitcoin price, we may see more competitors. This is good as it will help mining centralization issue.

[AmXProX]

7nm would be much more energy efficient. Japan has advantage in chip. But Europe may not have advantage in electricity cost. They may build another mining farm in place where electricity is cheap.

It is good to see more competitors in ASICs. With the rising bitcoin price, we may see more competitors. This is good as it will help mining centralization issue.

Yes more energy efficient device plus competition between manufacturer's means lower price per device. Last factor left would be the electricity cost and miners will have more profit from it.

[Juggy777]

https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/

Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.

"We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe. We will use cutting-edge 7nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology."

This 7nm would outperform the current generation of Bitmain's Antminer S9s. It will take a while until Bitmain catches up, this means that we may finally see some cracks in the ridiculous Bitmain's evil monopoly (evil because they promote dogshit like Bitcoin Cash, do evil miner things like mine empty blocks then complain about fees etc)

I hope more and more big players enter the game of mining. I remember Putin wanted to get in too, and im sure USA will be kicking miner ass too. nVidia and AMD will be there soon too with their own ASICs. This mining game has only begun. Bitmain's monopoly will be over sooner or later.

This is actually some very good news, Japan is always known to apply the best technology that's available and they can always be relied upon, bitmain dictator'ship looks like it's finally coming to a end, and that's good especially what they did, they don't deserve to have a bigger say. However I feel this entire process will take time, even if it's Japan they will need time to set it up. This shows that Japan is super committed to Bitcoins and that's what we need.

[pooya87]

~
How to buy chips from GMO?

Does anyone have contacts with the company that produces the chips within the GMO consortium?

i believe this is the company: https://www.gmo.jp/en/
it is the same that created the biggest Japanese bitcoin exchange. there are 2 links in their front page regarding bitcoin and mining.

but from what i read in that news, it seems like they are planning to start the production, it doesn't seem to be just starting.

[darklus123]

https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/

Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.

"We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe. We will use cutting-edge 7nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology."

This 7nm would outperform the current generation of Bitmain's Antminer S9s. It will take a while until Bitmain catches up, this means that we may finally see some cracks in the ridiculous Bitmain's evil monopoly (evil because they promote dogshit like Bitcoin Cash, do evil miner things like mine empty blocks then complain about fees etc)

I hope more and more big players enter the game of mining. I remember Putin wanted to get in too, and im sure USA will be kicking miner ass too. nVidia and AMD will be there soon too with their own ASICs. This mining game has only begun. Bitmain's monopoly will be over sooner or later.

tho still the sad truth is that there were only few people who could benefit from mining. Mining is becoming  so much expensive and cant also assured that you will be earning your profit in the end or in a short period of time because of the other costs. So basically  this mining hype can only be felt to those countries that youve mentioned

I just hope that japan will then try to consider to offer mining powers for a good acceptable rates to everyone

[drm]

Good news, I've been hating on bitmain for too long now. It has been enough now.
Hope we'll see some affordable prices.

[xfaqs01]

Will surely the remaining mineable bitcoin which is 3m+ bitcoin will be taken out early unlike what is being expected. Am i right or wrong? Or till when will all the available mineable bitcoin be emptied?

[tonysitaly]

Have to say。 Japan in the virtual currency project is a bit ahead of consciousness. I hope this is also right, mining will be the future trend, there must be a good future.

[traderethereum]

i think bitmain will think about this but its great news if japan finally want to make bitcoin mining too. we can see there is competitor for the bitmain and with the newest technology from japan, i think they will create new hardware that more efficient and it will useful for the miners. if this is happen then japan will be step ahead than bitmain and japan will be the next leader in the mining hardware but i am still curious with their hardware.

[Nameless27]

Competition is good and a welcoming development also. I always been a fan of a Japan made gadgets and technology advancement. If this will work with stunning result I will never hesitate to purchase one for my own. This will make the mining field more fair and cost sensitive. Monopoly on this process will be eliminated and fees/cost of items, electricity saver rigs were be available in due time.

[Vatimins]

https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/

Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.

"We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe. We will use cutting-edge 7nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology."

This 7nm would outperform the current generation of Bitmain's Antminer S9s. It will take a while until Bitmain catches up, this means that we may finally see some cracks in the ridiculous Bitmain's evil monopoly (evil because they promote dogshit like Bitcoin Cash, do evil miner things like mine empty blocks then complain about fees etc)

I hope more and more big players enter the game of mining. I remember Putin wanted to get in too, and im sure USA will be kicking miner ass too. nVidia and AMD will be there soon too with their own ASICs. This mining game has only begun. Bitmain's monopoly will be over sooner or later.

Damn this news just feels sooo damn great! Finally! A competition for bitmain! This should be a grwat eye opener for bitmain to improve their services at last. Not that it would make a difference after what they have shown the public. But at least now they would realize that customer care is more important than anything else.

 Now that a lot of big players are thinking of jumping in to the crypto world mining industry, I think there would be great competition in quality,  customer care, cheap prices, and ao much more. This will really be a big step forward for the crypto world. I just hope that all this will happen as soon as possible.