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Author Topic: Is it Possible To Mine Bitcoin with Supercomputer?  (Read 280 times)
alyssa85
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November 07, 2019, 08:44:14 PM
 #41

It is possible to mine even with your laptop , it doesn't mean that it is efficient or wise
in this case , supercomputer used to mine bitcoins is like using nuclear weapons to clear rat infestation
will you clear it? probably yes
is it worth it? probably not

the problem is people are asking questions like that think in different categories
supercomputers provide something way greater than money , they provide knowledge and knowledge is power
whoever controls information controls the world

LOL.

There is indeed a cost v benefit element to all this. Yes a supercomputer could be used to mine bitcoin - but the cost of the supercomputer likely exceeds the benefits of mining the coins. So supercomputers will be put to other more important uses.

 
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November 07, 2019, 09:41:11 PM
 #42

Mining is possible, but it is very illegal and can go in a very bad direction which would cause bad reactions if the burglaries were followed by a prison sentence because something was not allowed.
I believe that he did not pay off for mining is a need not only for a supercomputer, but for something better than being very expensive, of course, and if he finds cryptocurrency, it can drive him into a lack of profits and financial discomfort...
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November 07, 2019, 09:56:23 PM
 #43

These Russians were jailed for attempting to mine bitcoin at a nuclear facility. Would they really have gotten coins mining with a supercomputer? https://www.cryptoinfowatch.com/russian-nuclear-engineer-jailed-for-mining-bitcoin-at-work/
We don’t know but if that Russian really made and earn money thru the supercomputer then its possible but you must own it so you wont ended up in jail. Supercomputers are made for a more advance and faster transactions, and if mining would be installed on their system maybe they can earn a lot of bitcoin from that but still it will depend on the situation, we can’t be fully sure not unless someone is doing this already.

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November 07, 2019, 10:11:32 PM
 #44

There is indeed a cost v benefit element to all this. Yes a supercomputer could be used to mine bitcoin - but the cost of the supercomputer likely exceeds the benefits of mining the coins. So supercomputers will be put to other more important uses.

It's technically not even the cost aspect that makes a 'super computer' not a good Bitcoin miner, it's more the task area it's supposed to be super good at. It might be a super computer in one area but a complete sucker in some other areas. This is also why students thinking to utilize their super computers within the university network to mine Bitcoin won't come far at all.

Mining is such a waste of time. It's much easier and rewarding for people to just buy Bitcoin and sit on it. No stress about difficulty increases which eat through your income, no stress about broken gear, no stress about sudden changes in power rates, etc. Too many factors that point out how people should mess around with mining.

If you want to support the network, run a full node or provide liquidity to Lightning with a small chunk of your freshly bought coins.
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November 07, 2019, 10:23:07 PM
 #45

These Russians were jailed for attempting to mine bitcoin at a nuclear facility. Would they really have gotten coins mining with a supercomputer? https://www.cryptoinfowatch.com/russian-nuclear-engineer-jailed-for-mining-bitcoin-at-work/

In the article you qouted there was no mention of the supercomputer be able to mine some bitcoins. But here on this site https://www.hpcwire.com/2019/10/02/bitcoin-mining-on-russian-nuclear-supercomputer/ you can actually read that they have mined some currency before they are caugth. The thing is that the amount of coins they have successfully mined have not been disclosed.
Are you sure they used the supercomputers at a nuclear facility to mine crypto-currencies? I thought they used the free nuclear power there to power some rigs and then were able to make pretty decent profits of a free power source.

It depends what you are classifying as a supercomputer, because frankly speaking, they don't really exist yet, with the most effective mining machines being powerful GPU intensive PC's, or specific mining cards, or even a regular asic miner.

They aren't really a huge step up compared to the other machines out there.
You are right, they would use free nuclear power to mine bitcoins and that's why they were caught + they were doing this in a very wrong place so.
But now let's turn on question: Mine bitcoin with supercomputer? If it's possible to mine eth with asic, then why not? (know silly comparison). A lot of things are possible but it's also another task how beneficial they are. Sometimes you can do something but don't do because pros doesn't outweigh cons.
We know Google Quantum Computer exists, so what about to ask that question to google staff?
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November 08, 2019, 12:55:24 AM
 #46

These Russians were jailed for attempting to mine bitcoin at a nuclear facility. Would they really have gotten coins mining with a supercomputer? https://www.cryptoinfowatch.com/russian-nuclear-engineer-jailed-for-mining-bitcoin-at-work/
We don’t know but if that Russian really made and earn money thru the supercomputer then its possible but you must own it so you wont ended up in jail. Supercomputers are made for a more advance and faster transactions, and if mining would be installed on their system maybe they can earn a lot of bitcoin from that but still it will depend on the situation, we can’t be fully sure not unless someone is doing this already.
You can mining bitcoin with supercomputer but reward receive is not coherence with your computer working, mining give less reward today and keep have lower price after we are receiving coin from mining. Many China mining project have close their mining operating because have pay higher fees than with how much earning receiving.

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November 08, 2019, 01:08:39 AM
 #47

When you read a news articles that talks about someone maliciously mining Bitcoin, like misusing their organization's hardware or using malware, in 99.999% cases it was actually altcoin mining. Mainstream journalists don't do fact-checking these days and see no problems with writing about something they don't understand, so they call everything "bitcoin mining".

Bitcoin is only worth mining on hardware that was created for mining Bitcoin, using anything else is a waste of electricity. These supercomputers will earn a few cents in a month, roughly speaking. But with altcoins that are meant to be mined on CPU or GPU, it's possible and profitable to use supercomputers or general-purpose computers.

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