Posted on 01/22/2022 5:33:51 AM PST by dennisw
The University of Pennsylvania recently announced Intel’s intention of releasing a new Bitcoin mining ASIC chip which will be released during the 2022 IEEE International Solid-State Circuits Conference on February 23.
The Bonanza Mine Described as an Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC, the chip titled Bonanza Mine will make Intel the first major semiconductor company to jump into producing traditional Bitcoin mining ASICS.
Although AMD has been a part of the crypto mining industry for a while now owing to its super-powered GPUs, it never witnessed any competition as such.
But since Intel has a higher production capacity, and both ASICs as well as GPUs are priced almost similarly, Intel could bolster the production to give AMD serious competition.
But for Intel, the concern is bigger than just AMD since there are already better established ASIC production companies in the market. Bitmain, Bitfury, etc are some such companies that have dominated the ASIC-specific mining rig manufacturing industry for most parts.
However, Intel might have actually made this decision at the right time. The mining industry just a week ago finally recovered from the effects of The Great Migration and is currently growing at a quick pace.
Hash Rate marked an all-time high a few days ago after taking 7 months to recover from the dent made by China’s mining ban.
(Excerpt) Read more at finance.yahoo.com ...
PING LIST!
Intel should have done a 32 or 64 core ulta low power design. Now would get crypto fanboys excited.
Thanks for the ping. This is when we know that bitcoin is “real”, when the microprocessor companies start designing towards it. That was how we knew the gaming industry was “real” as well.
Someone help me understand: a couple of years ago I started learning about blockchain, Bitcoin, etc, as best my brain could absorb it. At that time I understood that, once and for all, Bitcoin issued 21 million bitcoin, tick-a-lock, game locked, never added to, ever.
Also at that time, I was given to understand that, of the 21 million, around 19 million had already been “mined”, thus leaving precious little “mining” yet to do. Two years later, I’d have expected the mining to be over with. But now we read of some heavy artillery tech boys getting in on the action at the end of the game.
I have lots more to learn, I guess.
Meanwhile, like the old punchline goes, “you go your way and I’ll go mine.”
Uh, can someone (kindly) explain Bitcoin to this money dummy?
The supply of new bitcoin is cut in half every four years or so. It will be about 2140 or so when the last little bit of coin is released.
You can think of fiat money as an accounting ledger. The ledger keeps track of who owns what money on the system. The ledger in our banking system is centralized in that a controlling entity maintains the ledger. Your bank has a ledger for its customers and the Fed has one for its member banks.
Bitcoin is a decentralized ledger. There is no centralized authority maintaining the ledger which is distributed among hundreds of thousands of computers around the world. The value recorded in the ledger is denominated in Bitcoin which is programmatically limited to 21 million units.
That’s the very broad outline. I can get into a bunch of technical details and practical implications if you want. It’s easier to do that via questions and answers.
Thanks; good info there, mate.
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