Question Intel to launch Bitcoin mining ASIC

[DrMrLordX]

Intel to unveil Bitcoin mining ASIC at upcoming chip conference

Unlike a complex general purpose CPU or GPU, an ASIC (application-specific integrated circuit) is a type of chip designed for a specific type of task - in...

www.techspot.com

Fascinating. Wonder if they're gonna use it along with Loihi 2 as a pipecleaner for Intel 4?

edit: oh, and Bonanza? Yeehaw! Raja is perfect for a Western.

 

[gorobei]

its actually better if the miners retire their older less efficient asics. the newer intel asics should use less electricity for better hash rate. so the total power usage for btc mining should drop.

i remember a few years after the first asics came out, some tech journalist who was in shenzhen and touring a building saw an employee sitting in a corner with a giant pile of miners salvaging psu as that was the only thing of value. the performance was so deprecated compared to newer asics.

 

[Mopetar]

There might be another boom, however, at least for Ethereum the mining is gone for ever, the system no longer dependent on GPU mining, bitcoin is perhaps still the biggest crypto currency but Ethereum was a huge driver of the late GPU hyper inflation, and that is gone for ever.

Don't mistake Etherium for GPU mining. If the concept is still popular another coin will come along to fill the void. Etherium itself only really took off because ASICs left Bitcoin miners using GPUs with nothing to do.

It'll probably come back at some point, particularly after the GPU market bottoms out both companies have to cut prices.

 

[DrMrLordX]

Don't mistake Etherium for GPU mining.

There's always Ethereum Classic!

. . .

seriously, though, in order for mining to be lucrative, there has to be a project out there with momentum that gets people interested. Mining doesn't have the novelty value it did 10 years ago, or even 6 years ago (when I did my own Ethereum mining).

You can GPU mine ETC today. It's just that ETC - and a great many other GPU-mineable tokens - don't inspire the same confidence or interest as did ETH when it was still PoW. Hence much lower profits due to lower demand for the tokens.

 

[mderbarimdiger]

ETH is not a concept how to make use of GPUs, its a concept to replace current business contracts and the inevitable subsequent court cases that happens when one side is not happy with something they had previously agreed to, ETH is about the creation of a blockchain smart contract system, just imagine how the Twitter - Musk sage would look like had that agreement been signed on some sort of a ETH smart contract.

ETH is light years away from getting to its goal, ETH still lacks a robust infrastructure and a trustworthy ecosystem, one of the major hurdles for ETH to overcome was the excessive GPU power it used, mining was a ridicules system and caused severe limitations so the ETH developer team worked extremally hard to switch over to a PoS based blockchain, its hard to conceive that some serious blockchain developer will ever go backwards and build a PoW based system.

yes, some people found ETH mining to be interesting as a side hustle, but they were not part of ETH, they were acting for a while in a critical role as the enablers of the ETH infrastructure, but they were never a real part of ETH, since ETH was never designed as a system to make use of GPU mining, and its hard to see that enthusiastic GPU miners will find it lucrative to build a entire blockchain system just for the purpose of GPU mining, blockchain needs to have value in order for the miner to cash out their earned coins, and the value of a blockchain was never in mining.

As a side note, unrelated to the above; ETC was just removed from Coinbase for the reason it lacked interest and had no activity on Coinbase.

 

[VirtualLarry]

As a side note, unrelated to the above; ETC was just removed from Coinbase for the reason it lacked interest and had no activity on Coinbase.

this is false, as are several other things that you said; Coinbase Wallet dropped ETC,, BCH, and one other, NOT Coinbase.

Edit: BTW, saying that ETH didn't need miners, that they weren't a part of the ETH ecosystem, is like saying that Twitter didn't need any of their employees that made the service what it is today.

Enjoy your unregistered security, which will be controlled by the SEC.