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Author Topic: JP Morgan investing into Bitcoin mining? ;>  (Read 6672 times)
Sjalq
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July 14, 2011, 01:46:57 PM
 #21



Here is the graph again, this the spike has dropped off.

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July 14, 2011, 02:42:43 PM
 #22

I don't think it revolves around bitcoin either. However bitcoin now has more processing power than the combined processing power of the top 500 super computers. If this trend continues at even a fraction of it's current rate I doubt the argument would still hold water in as little as a year's time.

If the price trend continues, something that could easily happen with the advent of proper simplified cellphone to cellphone payments, then I would argue that it follows that mining interest would again peak.

As far as JP Morgan is concerned, if something does not stop bitcoin it is the end of the road for them, finish, kaput, klaar.

Made either of cpus or nvidia gpus. None of these "supercomputer" is good at mining.

The bitcoin processing power is worth 15 millions $ or less (money required to buy enough ATI GPU and computers to have the current hashrate). Much less than a single supercomputer...
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July 15, 2011, 09:24:53 AM
 #23

I don't think it revolves around bitcoin either. However bitcoin now has more processing power than the combined processing power of the top 500 super computers. If this trend continues at even a fraction of it's current rate I doubt the argument would still hold water in as little as a year's time.

If the price trend continues, something that could easily happen with the advent of proper simplified cellphone to cellphone payments, then I would argue that it follows that mining interest would again peak.

As far as JP Morgan is concerned, if something does not stop bitcoin it is the end of the road for them, finish, kaput, klaar.

Made either of cpus or nvidia gpus. None of these "supercomputer" is good at mining.

The bitcoin processing power is worth 15 millions $ or less (money required to buy enough ATI GPU and computers to have the current hashrate). Much less than a single supercomputer...

When I first head the replacement figure it was at 2 Million USD. That was only a few weeks ago. What will the whole network cost in 2 years time if anything close to the current growth in interest continues?

Cheesy mine mine mine mine mine mine mine Cheesy
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