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Lord Percy |
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Lord Percy World Chat Champion
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asta1 |
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asta1 Scooby Slapper
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Posted: 15:08 - 14 Jan 2018 Post subject: |
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Lord Percy wrote: | Pjay wrote: |
I dont think you realise the efficiency of asics here.
To run a 10 million core CPU long enough to mine a block, you'd be paying many times the cost of the reward in electricity costs. |
That's completely beside the point. 10 million CPU cores is colossal. Doesn't matter if a single CPU can't do what an asics thing does. When you have 10 million all lined up and put to work, they would quite clearly have serious clout.
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With all due respect Percy, I think you're wrong here.
ASICs are basically highly slimmed down chips operating with specialised (minimised) OS, true. However, I'm not sure you quite understand just how much better an ASIC chip is at this application.
Take a standard CPU - the Intel Core i7 990x for example. It's an excellent CPU, powerful, multicore, gaming capable. It can also mine bitcoin. Apparently it can chuck out about 33.3Mhash/s on a power draw of 0.18Mhash/J. All well and good.
Now lets apply this to your supercomputer. For the sake of fag packet maths, lets say each chip is 4x better than the 990x. Each one throws out 133.2MHash/s and achieves 0.72MHash/J.
For your 10million chips, that's 133,200,000MHash/s for an power input of 1,850,000,000W
So, how many Antminer 9 ASICs are required to match that hash rate and whats the power draw?
Well a single unit throws out 14,000,000Mhash/s for a energy efficiency of 10,812Mhash/J. Divide the 133,200,000MHash by that and we reach a total requirement of 9.5 Antminer 9s. Total energy draw is 12,319W.
Basically the supercomputer throws out about the same mining power as a ASIC rig you could store in a basement. Plus its power needs are orders of magnitude higher.
CPU mining died for a reason. ____________________ CBT Acquired: 09/07/2015
A2 Licence Passed: 12/02/16
Current Bike: Yamaha MT-07 bought 02/07/16 |
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The Artist |
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The Artist Super Spammer
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Lord Percy |
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Lord Percy World Chat Champion
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Rogerborg |
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Rogerborg nimbA
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Sun Wukong |
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Sun Wukong World Chat Champion
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Pjay |
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Pjay World Chat Champion
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Lord Percy |
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Lord Percy World Chat Champion
Joined: 03 Aug 2012 Karma :
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Posted: 01:49 - 15 Jan 2018 Post subject: |
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Pjay wrote: |
just ignore him, he's either trolling or a moron. |
No. You claimed several times that there's a direct link between bitcoin price and hashrate. There's nothing moronic about telling you this is wrong. The two are not intrinsically linked, they're simply correlated. I could make the world's largest bitcoin mining farm tomorrow, switch it on and the hashrate would shoot up, along with the difficulty rating of the mining process. The amount of bitcoins entering circulation would stay the same. Nothing here has changed the price of bitcoin.
You later claimed that you already knew this. Perhaps you did know all along but you've done a damn terrible job of making it clear. You've been changing your words accordingly in order to always sound right.
You also claim processing power is linked to price because people switch off their mining rigs if the electricity bills will outweigh the potential profits. This is clearly mere speculation too. You could mine for coins at a loss today, then hold onto them in the hope there'll be another surge in prices a year later. So once again there is nothing that says mining/hashrate is based on pricing, there's only speculation based on the trends of the masses in the gold rush.
This isn't trolling, it's supposed to be a reasoned discussion but all we're getting from you is, "I've been doing this for ages and I made money, therefore I'm definitely correct," which you surely realise means nothing. |
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Lord Percy |
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Lord Percy World Chat Champion
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Posted: 06:48 - 15 Jan 2018 Post subject: |
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Just to show I'm not here to stubbornly troll for no reason, here's something which quite easily eradicates the supercomputer claim I made earlier: https://bitcoincharts.com/bitcoin/
Bottom of the page - Network Hashrate 80704290.84 PFLOPS
For comparison, the Taihu Light operates at 105 PFLOPS
Well that was an easy debunk |
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asta1 |
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asta1 Scooby Slapper
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Pjay |
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Pjay World Chat Champion
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Rogerborg |
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Rogerborg nimbA
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Pjay |
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Pjay World Chat Champion
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Ste |
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Ste Not Work Safe
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Pjay |
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Pjay World Chat Champion
Joined: 18 Jan 2016 Karma :
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Posted: 11:23 - 15 Jan 2018 Post subject: |
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Ste wrote: | Fact: you keep using that word.
Fact: Lord Percy is just winding everyone up.
Fact: no one could really be that stupid. |
Well yes, because I'm trying to state facts, to help him understand, but he doesn't seem to grasp the information given to him.
I hope this helps clarify the mindset of a miner.
A miner will add hashrate to the network of a coin when the price of that coin becomes instantly more profitable. They wont be speculating on the price of a coin, that's not how it works.
They will use a site that shows which coin is the most profitable at any given time, to ensure they are running at a profit.
This site is a comparison for SHA256 (bitcoin type) miners for which coin is the most profitable at any given time: https://www.coinwarz.com/miningprofitability/sha-256
Now this isn't set in stone and there may well be a nice amount of miners that think 'Oh I'm going to mine bitcoin with my loss making s7 miner in the hope bitcoin doubles in price over the next year', but these people are the exception to the rule.
So my statement that hashrate is added to the network when the price of BTC goes up is a fact and one that is obvious given the chart he linked proving this.
Bitcoin miners will leave the network when the price dips (as they have done recently) and move to another, more profitable coin.
I shouldn't have to explain all this, as The Artist has mentioned this previously to Percy in less detail, but I am just hoping he will realise that I do know what I am talking about, It's just little point going into detail about things that should just be accepted when you bullet point them, considering you're talking to someone that confessed they know nothing about the subject. For that person to then pick holes using semantics and try to tell me I know nothing, is getting pretty stale.
I'm no longer interested in his opinions on the matter, so hopefully this thread can carry on as intended, amongst people interested in Crypto and not for those with trolling in mind. ____________________ struan80 - I'll go first - satisfied tick 1 |
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Ste |
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Ste Not Work Safe
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Lord Percy |
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Lord Percy World Chat Champion
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 13:05 - 15 Jan 2018 Post subject: |
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It's not farming, it's whoring.
Roger the whore Borg. |
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Lord Percy |
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Lord Percy World Chat Champion
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 13:34 - 15 Jan 2018 Post subject: |
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I'm not fiting, I'm just cheering on both drunks to keep their fite going. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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asta1 |
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asta1 Scooby Slapper
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The Artist |
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The Artist Super Spammer
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Posted: 09:40 - 18 Jan 2018 Post subject: |
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More old news....
Bitcoin was the first crypto and it has a lot of flaws. There is no Utopia or perfect crypto coin out there and it seems all these negative articles assume that crypto supporters think they are solving all the worlds problems.
Plenty of other coins in development with different methods of ensuring decentralisation.
Bitcoin is more centralised than would be ideal but it is still working and there have been no successful attacks. |
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Rogerborg |
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Rogerborg nimbA
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Lord Percy |
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Lord Percy World Chat Champion
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Ste |
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Ste Not Work Safe
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Old Thread Alert!
The last post was made 6 years, 102 days ago. Instead of replying here, would creating a new thread be more useful? |
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