Design Con 2015
Breaking News
Comments
Newest First | Oldest First | Threaded View
<<   <   Page 4 / 5   >   >>
goafrit
User Rank
Manager
Re: ASIC solutions
goafrit   2/4/2014 10:46:00 PM
NO RATINGS
>>  you have to be able to run these encryption operations very quickly if you are paying for coffee or parking with these bitcoins.

Most of the guys running these high ASICs are not just the vendors but people interested in winning the Bitcoin reward for helping to mine and organize the ecosystem of the currency.

goafrit
User Rank
Manager
Re: ASIC solutions
goafrit   2/4/2014 10:44:06 PM
NO RATINGS
>> There's plenty of media hype surrounding the currency but nobody really tells you the whole story.

It is not just hype. There is a feeling that Internet needs its own type of currency and Bitcoin offers a platform for a true universal currency. The concept of net neutrality should apply to currency as nations cannot suddenly devalue their currency to hurt anyone. Bitcoin offers freedom from govt and that is the fun.

goafrit
User Rank
Manager
Re: ASIC solutions
goafrit   2/4/2014 10:41:14 PM
NO RATINGS
There is a very good reward if you can mine. Say you have a machine that can crack the mine, you get about 30 bitcoins. It is a tough race as anyone that has a very good machine can actually make good money for the 30 bitcoins that are given every now and then.

Susan Rambo
User Rank
Blogger
Re: ASIC solutions
Susan Rambo   2/4/2014 8:52:38 PM
NO RATINGS
Like the Gold Rush, it's the merchants selling supplies to the miners who end up making the money, not the gold miners.

krisi
User Rank
CEO
Re: ASIC solutions
krisi   2/4/2014 4:00:04 PM
NO RATINGS
Amazing 3-month design cycle...I have never seen anything like this for a billion transistor silicon chip

"The silicon implementation from HashFast's efficient architecture for high-performance hashing was completed in less than three months, record time for chip design"

rich.pell
User Rank
Blogger
Re: ASIC solutions
rich.pell   2/4/2014 3:19:25 PM
NO RATINGS
"...it does bear a certain resemblance to a Ponzi scheme."

Not really:

Bitcoin myths: It's a giant ponzi scheme

Bitcoin 101 - Why Bitcoin is Not a Ponzi Scheme

AZskibum
User Rank
CEO
Re: ASIC solutions
AZskibum   2/4/2014 2:55:36 PM
NO RATINGS
It seems that the market appeal of these parallel processors & custom ASICs is similar to the appeal of ever faster network connections to the high frequency traders on Wall Street -- the race to get there microseconds before the other guy. Someone will always come forward with a faster machine, so the "miners" need to make their money quickly, before their hardware becomes obsolete. But it remains to be seen whether Bitcoin can go mainstream. Meanwhile, it does bear a certain resemblance to a Ponzi scheme.

rich.pell
User Rank
Blogger
Re: ASIC solutions
rich.pell   2/4/2014 2:20:41 PM
NO RATINGS
"Do you know who makes the chips inside these systems?"

Some of the FPGA-based systems used Xilinx and Altera devices:

Bitcoin: A technological and economic game changer?

As far as ASICs, one bitcoin-mining ASIC was recently developed by Uniquify for HashFast TechnologiesAnother was done by Cointerra with design partner Open Silicon.

rick merritt
User Rank
Author
Re: ASIC solutions
rick merritt   2/4/2014 12:48:37 PM
NO RATINGS
@Osto: Thanks for the wiki reference.

Do you know who makes the chips inside these systems?

I'd like to do a follow up interviewing some bitcoin silicon designers.

krisi
User Rank
CEO
Re: ASIC solutions
krisi   2/4/2014 11:23:25 AM
NO RATINGS
Sure, you can always use of the shelf microprocessor or even FPGA...but it is much more efficient to use custom made ASIC for this application specifically...I think jury is out...if bitcoin maintains its popularity and appeals to every Joe, and that is a big IF...and if the US goverment doesn't kill all digital currency as they would threaten the US dollar., and that is a small if (they likely try)..then bitcoin CPU actually makes sense, you have to be able to run these encryption operations very quickly if you are paying for coffee or parking with these bitcoins...Kris

<<   <   Page 4 / 5   >   >>


Flash Poll
Top Comments of the Week
Like Us on Facebook
EE Times on Twitter
EE Times Twitter Feed

Datasheets.com Parts Search

185 million searchable parts
(please enter a part number or hit search to begin)
EE Life
Frankenstein's Fix, Teardowns, Sideshows, Design Contests, Reader Content & More
Max Maxfield

Book Review: Deadly Odds by Allen Wyler
Max Maxfield
11 comments
Generally speaking, when it comes to settling down with a good book, I tend to gravitate towards science fiction and science fantasy. Having said this, I do spend a lot of time reading ...

Martin Rowe

No 2014 Punkin Chunkin, What Will You Do?
Martin Rowe
1 Comment
American Thanksgiving is next week, and while some people watch (American) football all day, the real competition on TV has become Punkin Chunkin. But there will be no Punkin Chunkin on TV ...

Rich Quinnell

Making the Grade in Industrial Design
Rich Quinnell
13 comments
As every developer knows, there are the paper specifications for a product design, and then there are the real requirements. The paper specs are dry, bland, and rigidly numeric, making ...

Martin Rowe

Book Review: Controlling Radiated Emissions by Design
Martin Rowe
1 Comment
Controlling Radiated Emissions by Design, Third Edition, by Michel Mardiguian. Contributions by Donald L. Sweeney and Roger Swanberg. List price: $89.99 (e-book), $119 (hardcover).