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Author Topic: Samsung has now entered the cryptocurrency world  (Read 4506 times)
steampunkz
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January 31, 2018, 12:29:54 AM
Merited by hacker1001101001 (3), reck1ess (3), Arvilaine (1)
 #1


As we know Samsung is one of the biggest and famous phones, smartphones, tablets producers in the whole world and now they are planning to make there own mining software. Is this a good news for us bitcoin users? I mean what are they aiming for?

For more info just read visit the link: https://www.sammobile.com/news/samsung-is-reportedly-making-mining-hardware-for-cryptocurrencies/
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January 31, 2018, 12:35:30 AM
 #2

I’d say it’s good news for us, the more companies that are competing to provide software/hardware the cheaper the prices will get from the competition. The other benefit is that once these large corporations start to benefit from the crypto industry, either directly through investment or indirectly through selling hardware/software, they will start to use their lobbying force to push back government attempts to hurt the crypto community. Once they start realizing how much their bottom line is affected by people buying their products to mine, they will become more protective and use their political influence to curtail anti-crypto legislation.
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January 31, 2018, 01:39:39 AM
 #3

This also shows that the South Korean government began to recognize cryptocurrencies as the top companies in their countries officially entered cryptocurrencies.
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January 31, 2018, 01:48:15 AM
 #4

According to what I read, Samsung only offering this chip to their partner bitcoin mining in China. But I guess this will be that start, On my opinion, if this keeps up as mention above, many competition means cheaper in price. So I think the price of Bitcoin Fees will keep on Dropping and hopefully a little bit faster than before.
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January 31, 2018, 01:49:38 AM
 #5

I think, is it worthy mining with smartphone? but this is a considerable improvement, because the smartphone industry is looking for cryptocurrency

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January 31, 2018, 02:12:08 AM
 #6

I'd say it's really good in theory. Regular people usually don't know the first thing about mining, and having a reputable company like Samsung supply to companies that sell optimized pre-built miners puts mining within the reach of the mainstream. Interest in mining equipment seems to be heating up, so this is a good business move by Samsung. I hope it sparks interest in Bitcoin again, at least.

I think, is it worthy mining with smartphone? but this is a considerable improvement, because the smartphone industry is looking for cryptocurrency

It has nothing to do with smartphones. They're selling chips to mining equipment providers.

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January 31, 2018, 02:15:41 AM
 #7

Samsung, one among the finest company getting into the manufacturing of mining equipment makes the users happy as well the information coming at this time really a boosting to the cryptocurrency users. Because, bitcoin has been facing big issues and currently it has gone low to $10000 which none could expected to take place.

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January 31, 2018, 02:16:47 AM
 #8

As we know Samsung is one of the biggest and famous phones, smartphones, tablets producers in the whole world and now they are planning to make there own mining software. Is this a good news for us bitcoin users?
Its a very good news to us it means that they are supporting cryptocurrency and others who are skeptic about this thing will trust the move of Samsung. It can raise awareness about crypto's and for those who thinks that its only a joke, digital assets are not real then they will consider this a game changer.
I mean what are they aiming for?
If it will base on the article, they want to be a supplier.
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February 06, 2018, 02:38:42 PM
 #9

I think it will be a good news for us who already have bitcoins but I am wondering what will be the effect of it to the Bitcoin market? Now that the value of cryptocurrencies are going down what they need is to be in demand.

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February 06, 2018, 02:45:26 PM
 #10

Seems to samsung is only provide mill for bitcoin players, because as the bitcoin prices continue to rise, then dig the bitcoin has become a highly profitable, so efficient machines may have a good market.

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February 06, 2018, 02:47:42 PM
 #11

It is good for the bitcoin users and also for the people who hold bitcoins.  I think if the samsung would go for it officially for miners who invest their money for the phones, the coin must be rise and the demand also can double more.  We expect that it could be safe and good for the miners.  But i dont know how it works and what are the specs or it can be use even you use another apps at the same time?

I saw or i read from some thread that samsung could create the compatible for miners and it could be s9 but i don"t know any link so i am not sure.

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February 06, 2018, 03:12:52 PM
 #12

As we know Samsung is one of the biggest and famous phones, smartphones, tablets producers in the whole world and now they are planning to make there own mining software. Is this a good news for us bitcoin users? I mean what are they aiming for?

For more info just read visit the link: https://www.sammobile.com/news/samsung-is-reportedly-making-mining-hardware-for-cryptocurrencies/
Is it a mining software that they are planning to create or hardware? because as far as I know they are planning to make mining hardware that is specially designed only for cryptocurrency mining (preferably altcoin mining) for cryptocurrency miners stop buying graphics card (which is originally designed for gaming) so that the price of GPUs will be back to normal again and it will be good news for people who wants to build a gaming pc. And I also found out that they also partnered with bitmain and they supply chips for them.
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February 06, 2018, 03:20:30 PM
 #13

As we know Samsung is one of the biggest and famous phones, smartphones, tablets producers in the whole world and now they are planning to make there own mining software. Is this a good news for us bitcoin users? I mean what are they aiming for?

For more info just read visit the link: https://www.sammobile.com/news/samsung-is-reportedly-making-mining-hardware-for-cryptocurrencies/
Is it a mining software they planning to create or hardware? because as far as I know they are planning to make mining hardware that is specially designed only for cryptocurrency mining (preferably altcoin mining) for cryptocurrency miners stop buying graphics card (which is originally designed for gaming) so that the price of GPUs will be back to normal again and it will be good news for people who wants to build a gaming pc. And I also found out that they also partnered with bitmain and they supply chips for them.

The company has reportedly begun manufacturing ASIC hardware. I think it is some 16nm chip that I have read about, it will be a competition for the Antminer. Hopefully that new competition can lower the prices on the market for mining hardware.
If Samsung would be designing software, that would be either creating their own pool or their own currency.
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February 06, 2018, 03:27:09 PM
 #14

At this stage it's too early to say if this is good or bad for Bitcoin. Anyhow, it's certainly promotion for Bitcoin that such prominent company has made such decision.
On long term the time will tell what is their final goal. In the meanwhile that could also mean more competition on mining software market and lower prices.

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February 06, 2018, 03:29:39 PM
 #15

i hope this news will good with bitcoin. Grin
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February 06, 2018, 03:30:23 PM
 #16

Samsung Electronics becomes a new participant in the mining of cryptocurrencies, specifically in the development of ASIC for the mining of Bitcoin and other currencies based on the same protocol. This is very good, it favors us in totality that large companies support the system of cryptocurrencies, this helps to pressure governments to avoid the rigorous laws against.
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February 06, 2018, 03:32:52 PM
 #17


As we know Samsung is one of the biggest and famous phones, smartphones, tablets producers in the whole world and now they are planning to make there own mining software. Is this a good news for us bitcoin users? I mean what are they aiming for?

For more info just read visit the link: https://www.sammobile.com/news/samsung-is-reportedly-making-mining-hardware-for-cryptocurrencies/
They are already jumping into the trend since they do know that they can able to make money with it. Focusing on making mining hardware would really patch up the scarcity or demand of people who do look for it. They do see the high demand this is why they do really decide to engage with this and as a business they can make money out of this but well this is only my assumption but the possibility on having right observation is high.


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February 06, 2018, 03:34:21 PM
 #18

Is it a mining software that they are planning to create or hardware?

And I also found out that they also partnered with bitmain and they supply chips for them.

Lol, you're answering your own question?
Yes, they are only thinking of producing the chips, not the entire miner and not any software.

It is good for the bitcoin users and also for the people who hold bitcoins.  I think if the samsung would go for it officially for miners who invest their money for the phones, the coin must be rise and the demand also can double more.

But i dont know how it works and what are the specs or it can be use even you use another apps at the same time?

Do you really believe you can mine with a phone?
That thing will either melt or burn in flames before you will be able to mine your share of 10 satoshi.

There will be no phone/tablet/laptop designed for mining, it makes no sense even trying to build something like that.
Even a 15 000 mAh at 5V will grant you about 75Wh, compare that to the juice a real miner needs.....


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February 06, 2018, 03:50:15 PM
Last edit: February 06, 2018, 04:15:06 PM by jtipt
 #19


As we know Samsung is one of the biggest and famous
For more info just read visit the link: https://www.sammobile.com/news/samsung-is-reportedly-making-mining-hardware-for-cryptocurrencies/
Interesting, but not surprising. Samsung jumps at any opportunity they see to make profit, and right now there a lot of popularity in mining, so they are just exploiting that.
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February 06, 2018, 03:58:23 PM
 #20

I'm a big fan of Samsung technology and it's pleasant to hear that different companies such as mentioned tries to enter the world of cryptos.
Sadly, scaling is our problem. Improvements will attract more people and will increase workload of block chain proportionally.
I just hope that resolution to the scaling problem comes first and it just the aim of mining.

But good news though
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