PS4 / Xbox One console mining

[justbtcme]

Observing gamers sparked a BTC bulb in my brain. I know that these consoles are capable of massive graphic data rendering, what are the challenges of engineering them to mine bitcoins?

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[simon66]

We don't know yet but before we can think of mining BTC with it, we need to jailbreak/hack them. This will enable us to run unsigned codes. It took hackers 4 years to crack the ps3, who knows how long it will take for the ps4.

[-ck]

We don't know yet

We do know what they'd be capable of. They can't mine bitcoin in any meaningful way today with all mining being dedicated ASIC based. They would spend $1000 in electricity to earn $1 in bitcoin.

[Chrithu]

I know that these consoles are capable of massive graphic data rendering,

Don't believe what Microsoft and Sony tell you. What they say is true in compraison to last gen consoles, but beating the performance of 7 year old tech is actually pretty easy.

Compared to PC Graphics cards they are already outdated again. And with the movement back toward more direct access to the graphics hardware on the PC side (DX 12, Mantle) consoles will have an even harder time in the future to play out the "specialised gaming hardware" card.

To cut a long story short: console mining (at least for Bitcoin/Sha256) is even more stupid than gpu mining. Don't think about it, don't do it unless just for the fun of achieving it. You cannot gain profits from it.