Supercomputers aren't just a normal PC on amphetamines. They're designed from the ground up for that kind of work.
Cryptocurrency
- Thread starter Playboi Carti
- Start date
Supercomputers aren't just a normal PC on amphetamines. They're designed from the ground up for that kind of work.
They are purpose built for whatever they were designed for. I bet you IBMs Watson would do terrible at mining
And at simulating nuclear explosions. I would bet that a machine that is good at those kinds of simulations would be tremendously good at mining.
ASICs are designed from the ground up to mine. It's what they do. Supercomputers are designed to have a lot of processing power but they aren't anywhere near as efficient as ASICs.
Looking at some articles I decided to calculate it.
An i7 3930K gives you about 60 MH/s the IBM Sequoia (6th most powerful computer in the world) is about 175,000 of those which equates to 10,500,000 MH/s or 10,500 GH/s. An ASIC does 14000 GH/s.
That running 24/7 gets you 0.351920 bitcoin in a year or ~$3,000 a year. Sequoia costs ~$25,000 in energy per day.
Not even close to worth it.
I would guess basically none, at least not intentionally. They wouldn't instantly be very efficient miners, and the cost of operating said computers at max load 24/7 just for mining wouldn't be profitable.
But when you're stealing those cycles from your government....
...you go to jail when you get caught? At least that's what's likely happening to these guys.
That being said, I do know a few people mining from their dorms/apartments at ISU... the ones with electricity included in their rent, at least. That's just smart business management on their end.
That's why I wanted in getting into mining because I don't have to pay for electricity at my apartment but it costs way too much to start mining.
That's a good way to not only not get renewed, but to lose any references
I know, but your lease also doesn't say the owner has to renew next year.
Plus i can almost gaurantee the lease says you can'tt operate a business from the unit without permission. Any landlord could easily prove Bitcoin mining is for profit, therefore a business.
Briefly looked over it, didn't see anything about it but saw that if the electricity bill exceeds a certain amount I'll be charged for it
Well this is an interesting development. Arizona is looking to pass a bill to allow people to pay their TAXES with cryptocurriencies. I guess not all governments are going to fight it, especially when there is an opportunity to attract business and capital. Or just get paid.
https://www.zerohedge.com/news/2018-02-11/arizona-senate-passes-bill-allow-tax-payments-bitcoin
https://www.zerohedge.com/news/2018-02-11/arizona-senate-passes-bill-allow-tax-payments-bitcoin
http://www.tomshardware.com/news/russians-arrested-cryptocurrency-mining-supercomputer,36489.html
No real specifics but it has been done.
Most of the oversight conversation has been on ICO and lending exchanges like Bitconnect. While they expressed interest in building a regulation framework they said for now they wanted to let the market grow and address issues as they arise. Most articles quote that the chairman of the SEC was Bullish on the value of blockchain.
"We owe it this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.” - J. Christopher Giancarlo, chairman of the US Commodities and Futures Trading Commission.
