The future of mining

[arnoudk]

Mining used to be for regular PCs with a CPU (unfortunately, I missed this). Then. mining was done by GPUs / graphics cards (unfortunately, I missed this too). Then, mining was done by FPGA / Field Programmable Gate Arrays, or programmable processors. (unfortunately, I also missed this!). Then came ASICs, and I had some fun mining bitcoin.

Now, in order to compete, you'll have to get something like this:


I'm almost curious to send in a request for a quote - but I already know it is out of my price range. A 40ft shipping container jam packed with state of the art ASIC machines in liquid cooled basins and giant fans on the roof.

It uses 2 MegaWatts, or 2000 kilowatts of electricity. Or 2000 kWh every hour. Every 3.5 HOURS it uses as much power as an average European household uses IN AN ENTIRE YEAR. It uses 17.5 MILLION kWh per year.

I think I can no longer compete

[arnoudk]

According to the Anarchapulco Let's Talk Bitcoin show, this mining container costs just 3 million dollars US.

Only a 1.5 million down payment is needed, per container, for them to start building.

So how many will you be buying?