Samsung is Manufacturing ASIC Chips For Bitcoin Mining

[alyssa85]

https://www.newsbtc.com/2018/01/30/samsung-south-koreas-largest-company-manufacturing-asic-chips-bitcoin-mining/

Samsung, the largest company in South Korea which is accountable for a large portion of the country’s economy, has started the production phase of bitcoin and cryptocurrency mining equipment and ASIC mining chips.

Local media outlets reported that Samsung partnered with a Chinese bitcoin mining equipment manufacturer last year and finished the development of its ASIC chips. Samsung, which operates one of the largest semi-conductor manufacturing plants in the world, will manufacture and supply cryptocurrency mining equipment to the Chinese market first.

In the long-term, Samsung plans to expand its mining equipment venture from China to other regions like South Korea and Japan that have a stronger demand for cryptocurrencies than other countries.

A Samsung spokesperson told local media that the company will operate a foundry to manufacture mining equipment and to match the supply requested by the Chinese bitcoin mining firm it has partnered with. In the beginning, Samsung said it will focus its venture on targeting the Chinese market and because Samsung has just started its foundry business, it is not unsure of the revenues its mining venture can generate.

I expect we will see more and more electronics companies getting into the ASIC chips business.

[Ilegendph]

Its a good start for the year 2018 in cryptocurrency industry. In this way, problems like congestions and higher transaction fess would be lessen if not eliminated. Furthermore, I expect that because of this samsung move towards cryptocurrency, more people would be consider to go in mining because it is more efficient meaning less energy would be consumed in same type transactions that is confirmed.

[dzyk]

its good news

[NightMar_1St]

Good news for crypto!
2018 is the best year for BTC
I hope price touch 30k$ end of year!

[lili song]

It good news for cryptocurrency mania, samsung support for bitcoin mining. I sure this year will be a new day start for cryptocurrency.
In the future will more future from company to support bitcoin and other coins. Cryptocurrency will grow fast in the future and many more people are using cryptocurrency for their transactions. And transactions fee will more cheaper.

[deepcoreotc]

Finally some good news after starting off the year with the media bashing Bitcoin. Hopefully more good news will follow and Bitcoin's price is gonna go to its previous ATH.

[dothebeats]

It's not surprising that Samsung would be chiming in to the cryptocurrency craze after all that's happened to the markets, especially that they know they have a huge customer-base to cater for. Also, it wiuld expand the mining scene and could produce a strong competition between different ASIC manufacturers resulting into cheaper hardware. More and more companies are realizing the potential effects of bitcoin in the society thus making their best efforts to get ahead of everybody while they can.

[squatz1]

While they're doing this, you must note that they're not going to be really getting into this until a couple years. They even said that it's going to be less than 1 percent of Samsung revenues, so they do know that it's not like they're going to make an insane amount of money from this. I think, as with anything with mentioning crypto, that they're getting into the game for publicity sake, as once you mention anything crypto or blockchain to investors you seem to get a mass amount of stock increases in price.

Cool, but not as cool as everyone in Crypto is making it out to be.

[1Referee]

its good news

It's only good news for me because it affects Jihan Wu's operations as main player in this market. I can't wait to see him lose his dominant position in this market, which will result in him becoming a less powerful figure as time goes by, and thus less of a potential threat. Seriously, Bitcoin made him the wealthy and powerful being that he is, and he has no problems taking Bitcoin down if he has the chance to do so, the bastard that he is. If we look at the rest, then it's nothing really to be excited about. It might offer miners cheaper hardware in the long term, but that's not something non miners should even care about. For that reason I don't even understand all the 'good news' posts here. If you think this 'news' will steer Bitcoin towards a new all time high, you'll be up for a big disappointment.