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News Start-up announces embedded Bitcoin chip

Discussion in 'Article Discussion' started by Gareth Halfacree, 19 May 2015.

  1. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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  2. greigaitken

    greigaitken Member

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    but if mining bitcoins barely covers the electricity used, i don't see how this helps unless you only charge your device when it's not at your own property.....
     
  3. edzieba

    edzieba Virtual Realist

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    An embedded mining chip, particualrly in a power-constrained device, is moronic,. An embedded blockhchain handling chip, however, could be very useful - the equivalent of the trusted key store that allows phones to act as NFC EMV payment cards.
    But with the amount of waffle and doubespeak on the companies blogpost (and complete lack of concrete details), I don't trust them to actually deliver a useful chip rather than a worthless flash-headline-grabber.
     
  4. yougotkicked

    yougotkicked A.K.A. YGKtech

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    I'm trying really hard to see a way in which this is a useful idea, but I just can't.

    The example involving a thin client doesn't work, the value produced by the device would be proportional to the value of a bit coin, which can change dramatically from day to day, so there is no guarantee that it would be sufficient to pay for any significant amount of computation time.

    Even if the embedded chips produced bitcoins at a significant enough rate, their widespread use would inevitably cause the mining difficulty to increase, diminishing the value of the computing power.
     
  5. mclean007

    mclean007 Officious Bystander

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    I'm just glad I purchased 1,000 BTC when they hit $1
     
  6. Panomama

    Panomama I once signed up on uniform dating

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    I bought 4 for a negligible amount of money, sold for £35 each

    Regret that now
     

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