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Bean19844 Member Since: 25 Oct 2020 Location: Essex Posts: 929 ![]() ![]() ![]() |
What do the graphics cards have too do with it? |
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Bl4ckD0g Member Since: 16 Feb 2020 Location: 127.0.0.1 Posts: 1322 ![]() ![]() ![]() |
Graphics cards are much better at fast calculations than an ordinary CPU. And when the difficulty of finding the next block was low they did a really good job. So they aren’t used to display graphics but purely for the calculations. But since the difficulty went up as it would over time, they simply aren’t powerful enough anymore. So specific optimised processors are now required.
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AJGalaxy2012 Member Since: 11 Jun 2018 Location: Gainsborough Posts: 1464 ![]() ![]() ![]() |
No not with just 12 GPU's, thats in each rack, 4 racks in total so 48 GPU's running! BMW i3 Electric Car 2012 Full Fat RR 4.4 TDV8 (now gone) 2006 VW Touareg 3.0 TDi V6 |
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Stacey007 Member Since: 03 Nov 2020 Location: Cheshire Posts: 18 ![]() ![]() |
I have had some money spare around 3 years ago and left it in a bitcoin and litecoin.
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Dixy Member Since: 09 Apr 2009 Location: Somerset Posts: 1104 ![]() ![]() |
The Bitcoin bubble is just like the derivatives bubble that burst or the Dot Com or the south Sea bubble or any in between.
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MikeO Member Since: 02 Jan 2018 Location: The Cotswolds Posts: 521 ![]() ![]() ![]() |
The whole thing is a bit bonkers. Essentially blocks are created at regular intervals and stuffed with transactions. Those transactions need to be confirmed to be valid by a large number of 'miners' to be trusted - as you can't trust a single entity, the whole essence of bitcoin is distributed trust. Confirming the transactions requires a large number of participants but not a huge amount of compute. So to incentivise a large number of people to participate the system offers a large bounty to be first to solve an incredibly difficult but entirely arbitrary problem. That's what all the miners are trying to do and burning all those GPU cycles. It's a race to solve a problem of randomness. 2016 Skoda Octavia VRS Estate
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alanm_3 Member Since: 19 Feb 2011 Location: my House, unless I’m not at home, in which case I’m somewhere else. Posts: 6746 ![]() ![]() ![]() |
Iceland has lots of Bitcoin mining data centres Got - 2017 SDV8 Autobiography in Loire Blue
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AJGalaxy2012 Member Since: 11 Jun 2018 Location: Gainsborough Posts: 1464 ![]() ![]() ![]() |
Usually located where geothermal power generation can be done, free electricity! BMW i3 Electric Car
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Bean19844 Member Since: 25 Oct 2020 Location: Essex Posts: 929 ![]() ![]() ![]() |
Well following on from this I've checked binance and I'm up to $180 when I started at $50. Just hope it carries on going this way |
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Bl4ckD0g Member Since: 16 Feb 2020 Location: 127.0.0.1 Posts: 1322 ![]() ![]() ![]() |
Well the Tesla SEC filing did help. It would be nice if others follow Tesla’s lead! |
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Bean19844 Member Since: 25 Oct 2020 Location: Essex Posts: 929 ![]() ![]() ![]() |
Usually happens mate. You know what the world is like, soon as one firm do it they all follow the lead till it peaks and then it dies off with no real benefit |
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Bl4ckD0g Member Since: 16 Feb 2020 Location: 127.0.0.1 Posts: 1322 ![]() ![]() ![]() |
I disagree with the no real benefit very strongly. There is real utility and it has been running for years in some cases. I’ve been on the BSI committee for the ISO working group in the UK. Am also on a Dutch/EU funded panel. And before Corona hit done several Erasmus lectures as a guest lecturer regarding real world applications and use cases. Scratch beyond the “gold rush” and “when moon” boys and girls and look at the technology. It’s real and out there.
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dennij Member Since: 23 Feb 2019 Location: Up North Posts: 450 ![]() ![]() ![]() |
Seems that the FT disagree that bitcoin will be taken up by other companies just yet
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Bl4ckD0g Member Since: 16 Feb 2020 Location: 127.0.0.1 Posts: 1322 ![]() ![]() ![]() |
They are entitled to their opinion |
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