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POWER9 Could Be A Game Changer For Cryptocurrency Mining

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  • #21
    Originally posted by Michael View Post

    The source for what?
    The article. I was looking for a blog-post link or something. Maybe I was just blind

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    • #22
      Originally posted by carewolf View Post

      The article. I was looking for a blog-post link or something. Maybe I was just blind
      There wasn't any blog post or anything by Raptor yet, just information relayed direct to me via email.
      Michael Larabel
      http://www.michaellarabel.com/

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      • #23
        Originally posted by pavlerson View Post
        How can POWER9 be a game changer? It is barely as fast as a Xeon. And a GPU is 10x faster than a Xeon. I dont understand this article. Is this IBM marketing? How can a Xeon fast cpu be a "game changer"? No GPU miner will convert to POWER9 because GPUs are 10x faster. What is this?
        Barely as fast as Xeon? In what?

        POWER is niche platform specialized to certain tasks. And it's WAY faster than any x86 CPU in them. This article just says that calculating hashes is one of those areas

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        • #24
          Originally posted by chuckula View Post
          Yeah, I predict: Nobody will use these for real coin mining given the price and the fact that GPUs/ASICs are going to move forward a whole lot faster than iterations of the POWER architecture.
          Seems you don't understand the market. Or the technology, for that matter. Monero isn't ASIC friendly, by design. And GPU's take years to make significant performance jumps. The big cryptocurrency players aren't teenagers living in their parents basement mining on their l33t gam3r Radeon card, lol. The big players are the Chinese, with warehouses full of mining equipment, an entire IT staff of employees to manage it, and they spend many millions on their hardware. A POWER system is no more expensive than the top-end bitcoin mining ASIC's that these Chinese mining operations have racks and racks full of. If it gives them even a tiny advantage over existing hardware, they'll dump the old stuff in a minute, and fill their racks with thousands of POWER machines.

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          • #25
            Originally posted by L_A_G View Post
            to make money on this racket for a bit longer than bitcoin, which moved from GPUs to FPGAs and then dedicated ASICs a lot faster than most people (myself included) anticipated.
            You forgot CPU. Bitcoin was mined on CPU for quite a while, before the GPU clients became available. But yes, once the price of a bitcoin started going up, it became economically viable to build custom hardware for it, and that did happen surprisingly quick.

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            • #26
              Originally posted by torsionbar28 View Post
              The big players are the Chinese, with warehouses full of mining equipment, an entire IT staff of employees to manage it, and they spend many millions on their hardware. A POWER system is no more expensive than the top-end bitcoin mining ASIC's that these Chinese mining operations have racks and racks full of. If it gives them even a tiny advantage over existing hardware, they'll dump the old stuff in a minute, and fill their racks with thousands of POWER machines.
              Actually according to Google Trends, Nigeria, South Africa, and a lot of eastern Europe seems to have the most interest in various cryptocurrrencies (though China is definitely up there, but they don't seem to have much interest in anything other than Bitcoin).

              Regardless, your point is still valid. Just figured you might be interested in that unexpected tidbit of info. When people think of crypto miners, Nigerians usually aren't the first group of people that come to mind.

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              • #27
                Originally posted by torsionbar28 View Post
                You forgot CPU. Bitcoin was mined on CPU for quite a while, before the GPU clients became available. But yes, once the price of a bitcoin started going up, it became economically viable to build custom hardware for it, and that did happen surprisingly quick.
                No, I didn't forget about CPU, I intentionally neglected to mention it as pretty much everything starts out being done in CPU and GPU miners showed up pretty much immediately once bitcoin started to get any kind of traction. Dedicated hardware didn't start showing up until almost a year after GPU miners and didn't really take over until some time later.

                Originally posted by schmidtbag View Post
                Regardless, your point is still valid. Just figured you might be interested in that unexpected tidbit of info. When people think of crypto miners, Nigerians usually aren't the first group of people that come to mind.
                Interest != Mining

                Just saying because many parts of eastern europe and particularly nigeria pretty big on various kinds of fraud and bitcoin has found a market among people moving around and laundering illegally received funds.
                Last edited by L_A_G; 11-09-2017, 05:06 AM.

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                • #28
                  Originally posted by OneTimeShot View Post
                  Coin mining is rivalling real mining for destroying resources...
                  And like with real resources, people involved prefer to ignore it - because of greed.

                  Disgusting.

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                  • #29
                    Originally posted by L_A_G View Post
                    Because of all this monero really offers to law abiding people is to make them harder to tell apart from actual criminals. Great for criminals who can more easily hide behind law abiding people, but terrible for everyone else. So if your fears are valid someplace, them it's with monero. However even if you end up receiving tokens owned by known criminals the worst thing that can happen is that you end up under law enforcement surveillance or get taken in for questioning, neither of which is hardly life ruining.
                    I think you definition of criminal is a little too narrow. Have you seen what credit cards charge merchants? Just over 3%. And a bank wire transfer starts at $10. Just for moving a couple numbers around in computer memory? And how about TARP? The customer service and fee scams you see pop up every 3 months or so? The banking monopoly needs to die.

                    And even with a strict definition, there are still transactions people may want to keep private that are perfectly legal: Abortions and other medical proceedures, sex toys and pornography, sales of used goods, and purchase of gifts. Additionally businesses may not want their competitors to be able to track all of their transactions. If crypto-currencies take off like many expect, of course there is going to be legitimate demand for some sort of privacy in day to day transactions.

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                    • #30
                      Originally posted by WorBlux View Post

                      I think you definition of criminal is a little too narrow. Have you seen what credit cards charge merchants? Just over 3%. And a bank wire transfer starts at $10. Just for moving a couple numbers around in computer memory? And how about TARP? The customer service and fee scams you see pop up every 3 months or so? The banking monopoly needs to die.
                      Moving those numbers does not come free for a bank, by the way. They do have to keep up the support structure that allows you doing it in the first place. Which ain't cheap. Look up the money you need for running your own data centers.

                      Same with criminality and need for privacy. What business can really track it's competitors transaction? Get real. In reality such powers are entitled to governmental structures, unless you are talking about some Third World corrupt shithole where business may be paying government and receive "services". If you try to do business in such place - be smarter. Nobody really fucking cares nor follows if you received non-descript box with a artificial vagina or not. To bring it as beating argument for justifying the need for cryptomining is sort of hilarious

                      Selective thinking. Ignore what fits you, bring up what fits you.

                      Criminality. A lot of ransomware nowadays asks for cryptocurrency. All sorts of shady activities can be financed by it. If companies used it exclusively - it could evade taxes to no end - in the end fucking up whole economies. What do you think would happen to a country that has 95% of it's economy "black"? It would kill the prosperity deader than door nail faster than you can say "boo.." Do you like Africa everywhere?

                      You may hate governmental structures and preach freedom but in the end - it's the hated State which provides oversight, set of rules and more or less even playground for all. Remove one - you have anarchy in no time. Back-to-feudalism-ABC.

                      I fucking pray to God that countries simply banned that idiotic cryptocurrency. It would stop yet another facet of endless waste of resources (like we did not have enough already), stop speculations with graphics cards, make harder to finance criminal activities, make harder to evade taxes, make harder to hide your perversions.. Want some transaction to be anonymous - use fucking old-fashioned cash.

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