Intel "Bonanza Mine" Bitcoin ASIC Secures First Big Customer, a $3.3 Billion Crypto-Mining Startup

[Vya Domus]

In some way this is simultaneously a smart move for them and also hilarious because it's a hint that they are desperate and not confident at all in the rest of their business.

 

[Vayra86]

well, there's money to make. It'll be a long while till the people who thinks of getting a slice of that crypto-pie will get nothing but an image of a pie instead of an actual one.

Hang on, an NFT pie image.

 

[Lycanwolfen]

Ya figures Intel decides to make a ASIC mining chip and what happens the richest people in bitcoin get it. Nothing for the home user anymore Bitmain innosilicon all of them nothing for the little guy anymore.

 

[R-T-B]

"Others are worse" is a really bad excuse.

I mean, yes usually, but not entirely here. Electricity offers things for it's use. So does crypto, when it burns said electricity. The question is is it worth the cost... I'd have once argued it was. I'm not sure anymore though. It's a confusing time to be alive.

One things for sure, this bitcoin asic news from intel has squat to do with the GPU shortage though.

OK Sheldor

View attachment 233255

Trying to mock me with a Big Bang Theory TV character is deeply telling. For the record, I am Autistic which makes me a stickler for the facts here.

 

[Deleted member 24505]

Preety impressive from Intel

 

[ShiBDiB]

we'll see. but climate change will prob cause mass death in the millions due to famine before it does happen, I admit. so meh human hubris is amazing to watch

I hate this argument (in general) about climate change because it's governments who are refusing to adopt solutions to the biggest generator of climate change.. electricity production

If only we had a clean long term highly efficient way to produce power.. and if only we stopped closing those particular power plants based off of bad science and fear (along with greed/lobbyists... someone is always making money off the coal/fossil fuel plants)

 

[Space Lynx]

I hate this argument (in general) about climate change because it's governments who are refusing to adopt solutions to the biggest generator of climate change.. electricity production

If only we had a clean long term highly efficient way to produce power.. and if only we stopped closing those particular power plants based off of bad science and fear (along with greed/lobbyists... someone is always making money off the coal/fossil fuel plants)

nuclear will make a come back, just not fast enough I expect.

bill gates and warren buffet building nuclear reactor in Wyoming

https://apnews.com/article/bill-gates-wyoming-technology-environment-and-nature-government-and-politics-c647adc5f4a447eaef1c4ec28464e153 https://www.theguardian.com/us-news/2021/jun/03/bill-gates-warren-buffett-new-nuclear-reactor-wyoming-natrium here we go!!! this is what we need if we are...

www.techpowerup.com

 

[Steevo]

Unfamiliar with this particular company, and would agree given those facts. Was speaking more generally.


This is a fantasy at this point. Too much of the USA's economic elite powerbase is deeply invested in crypto.

And nothing about this is funny.

Crypto offers no advantage beyond driving the carbon use from electrical power up and the damage to the gaming and hardware community.

 

[ShiBDiB]

gaming and hardware community

These are ASIC's.. specifically designed machines that have no use outside of what they're created to do..

Stop regurgitating bad information

 

[Space Lynx]

Crypto offers no advantage beyond driving the carbon use from electrical power up and the damage to the gaming and hardware community.

yep, and when governments of the world start hurting more and more they will tax crypto more and more too. just as they have cigarettes in the past, both are considered commodities for a reason.

we already have proof of this, as the most recent bill passed in Congress put a tax on crypto to help raise funds for the infrastructure bill at the tune of 38 billion dollars of tax from crypto.

the rich will continue to use crypto as a paranoid schizophrenic in case countries collapse, lol, pathetic twats

These are ASIC's.. specifically designed machines that have no use outside of what they're created to do..

Stop regurgitating bad information

as long as they keep paying their taxes I don't give a **** what any of them do anymore.

 

[R-T-B]

Crypto offers no advantage beyond driving the carbon use from electrical power up and the damage to the gaming and hardware community.

That's just PoW crypto. And you are ignoring quite a few advantages of the decentralized nature, anyways.

Plus bitcoin ASICS like this have nothing to do with the "gaming and hardware community" damage.

as long as they keep paying their taxes I don't give a **** what any of them do anymore.

I'm all for raising the taxes, as long as enforcement is done in a logical way that does not break the ability of pools and exchanges to operate. But it needs to be simple. Tax me on my gains/profits and be done with it, not on every little transactional act I do.

 

[Space Lynx]

I'm all for raising the taxes, as long as enforcement is done in a logical way that does not break the ability of pools and exchanges to operate. But it needs to be simple. Tax me on my gains/profits and be done with it, not on every little transactional act I do.

it all depends how much lube the government needs, i don't think they really care what you want

 

[R-T-B]

it all depends how much lube the government needs, i don't think they really care what you want

They should. It would be embarassing for everyone if their double/triple/whatever dipping on taxes led to someone owing more in taxes than their actual total profits. It's not impossible if they aren't reasonable about it. And there comes a point where if they refuse to be reasonable, certain crypto users will simply hide it and not declare it at all. That can't be desirable, either. It's a balancing act and I hope they realize this.

 

[Space Lynx]

They should.

i mean you are referring to a government that spent 1.7 trillion on a failed f-35 jet program, and many other stupid wastes of money, yet can't help their own people with student loans or a basic version of healthcare. so i mean you are kind of dreaming here. we have front seat tickets in another collapse of a great empire that became to big and then disconnected from its actual people, its just history repeating itself and natural.

 

[R-T-B]

i mean you are referring to a government that spent 1.7 trillion on a failed f-35 jet program, and many other stupid wastes of money, yet can't help their own people with student loans or a basic version of healthcare. so i mean you are kind of dreaming here. we have front seat tickets in another collapse of a great empire that became to big and then disconnected from its actual people, its just history repeating itself and natural.

Should != will. But yeah.

 

[MentalAcetylide]

i mean you are referring to a government that spent 1.7 trillion on a failed f-35 jet program, and many other stupid wastes of money, yet can't help their own people with student loans or a basic version of healthcare. so i mean you are kind of dreaming here. we have front seat tickets in another collapse of a great empire that became to big and then disconnected from its actual people, its just history repeating itself and natural.

More like:
#1. Politicians/high-ranking service members enriching themselves and their "buddies" in the defense industry.
#2. Contractors trying to milk as much money as possible from government coffers.
It just comes down to a lack of oversight and/or having individuals in that position with the necessary discernment to put a stop to it.

 

[lexluthermiester]

Intel is a twat now too I see. Caring about the environment and apologizing to China, and the CEO making toddler level comments on competition, what an amazing company.

Actually, I see this as a good thing and very strategic. Intel is about to release their new GPU lineup and they know that the mining community is already eyeing it. So they engineer and release a mining ASIC ahead of time to give miners something potentially better and much more efficient to use. This is a win-win for the whole industry IMHO.

imma just leave this here for no reason:

Intel Has Two Generations of Bitcoin ASIC: BZM1 is Built on 7nm, 137 GigaHash/sec at 2.5 W

www.anandtech.com

And that is what I'm talking about. 137ghps stomps most GPUs into the ground at 1/100th the power requirement.

Intel knows that ASICs are the answer for mining, not GPUs.

 

[Space Lynx]

Actually, I see this as a good thing and very strategic. Intel is about to release their new GPU lineup and they know that the mining community is already eyeing it. So they engineer and release a mining ASIC ahead of time to give miners something potentially better and much more efficient to use. This is a win-win for the whole industry IMHO.


And that is what I'm talking about. 137ghps stomps most GPUs into the ground at 1/100th the power requirement.

Intel knows that ASICs are the answer for mining, not GPUs.

I still say, stop all online sales of graphics cards and instead sale them in store only, makes deals with Wal-mart, Best Buy, Target mainly, distribute the cards evenly throughout the country. Hit the bots and miners right in the nuts where it counts, everyone is too much of a coward to do this though and/or they simply don't care as long as they keep raking in the money. Its the easy buying of it that has made it extra extra hard to get.

I have been saying this for well over a year now and it still hasn't happened, MicroCenter does it sometimes, but MicroCenter is really to small to have an impact.

More like:
#1. Politicians/high-ranking service members enriching themselves and their "buddies" in the defense industry.
#2. Contractors trying to milk as much money as possible from government coffers.
It just comes down to a lack of oversight and/or having individuals in that position with the necessary discernment to put a stop to it.

I watched a documentary of this on CBS one time a long time ago, its quite sad how broken it all is.

 

[lexluthermiester]

I still say, stop all online sales of graphics cards and instead sale them in store only, makes deals with Wal-mart, Best Buy, Target mainly, distribute the cards evenly throughout the country. Hit the bots and miners right in the nuts where it counts

That's actually a brilliant idea.

everyone is too much of a coward to do this though and/or they simply don't care as long as they keep raking in the money. Its the easy buying of it that has made it extra extra hard to get.

Good point.

 

[bug]

That's actually a brilliant idea.

Good point.

I doubt miners buy retail. I believe most of them buy directly from the manufacturer, that's where the choke is.

 

[lexluthermiester]

I doubt miners buy retail. I believe most of them buy directly from the manufacturer, that's where the choke is.

From what I understand, it's an even mix.

 

[R-T-B]

That's actually a brilliant idea.

Yes, because camping for a graphics card during a pandemic is fun. Just sayin'

The scalpers are a symptom of supply chain woes anyways, not the cause.

 

[lexluthermiester]

The scalpers are a symptom of supply chain woes anyways, not the cause.

That doesn't not make them a very serious problem.

 

[R-T-B]

That doesn't not make them a very serious problem.

Did not claim it did but you won't see them vanish until you treat the root cause of the disease IMO.

Of course that's easier said than done.

 

[lexluthermiester]

Did not claim it did but you won't see them vanish until you treat the root cause of the disease IMO.

That requires lawmakers directing law-enforcement and the courts to enforce anti-scalping laws and prosecute violators.

Of course that's easier said than done.

While true, it's not nearly impossible.