If mining 200,000 satoshi makes one a huge proponent of Bitcoin, I guess we can call those users script mining while surfing faucet and torrent sites hardcore advocates of Bitcoin.
This is not much different from the millions of businesses who bought a domain name, put up a "under construction" placeholder to index.html and then proudly claimed that they were huge advocates of the Internet.
Topic: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies (Read 193 times)
September 29, 2017, 08:15:51 AM
September 29, 2017, 07:59:58 AM
Read again the article from ft.
The experiment was with "computers" bought specifically for mining from 21 inc.
And it's no wonder they are mining so little, the stuff 21 launched was obsolete from the start.
https://www.ft.com/content/f3bf93ac-61dc-11e5-9846-de406ccb37f2
And the number roughly matches the specs the 21 computer or miner had from the launch.
https://www.reddit.com/r/Bitcoin/comments/3m4jld/what_hash_rate_does_the_21inc_bitcoin_computer/
The experiment was with "computers" bought specifically for mining from 21 inc.
And it's no wonder they are mining so little, the stuff 21 launched was obsolete from the start.
https://www.ft.com/content/f3bf93ac-61dc-11e5-9846-de406ccb37f2
Quote
The irony is, the sum of bitcoins you can earn from this sideline is so small it is unlikely to cover the $399.99 cost of the device, let alone make anyone a profit. Those who buy it will be paying for the right to waste electricity servicing the bitcoin network in return for a bitcoin shaving
And the number roughly matches the specs the 21 computer or miner had from the launch.
https://www.reddit.com/r/Bitcoin/comments/3m4jld/what_hash_rate_does_the_21inc_bitcoin_computer/
September 29, 2017, 07:29:43 AM
Quote
Johnson, herself is a huge proponent of the digital currency and has mined roughly 200,000 satoshis, according to the FT report.
So she has mined 1/500 of BTC that roughly translates to 8$.
There are two posilibilities:
a) the guy that made the article is a complete moron
b) Johnson is herself a moron.
LE
Seems like it's b.
Original ft article (paywall)
I think you are confusing the mining going on in Fidelity's asset management company with some experimental mining that Ms Johnson did herself.
The personal mining is unimportant.
But the mining done by the asset manager is very important - for one thing it's profitable, meaning that they're making more than the cost of the miners and the electricity.
September 29, 2017, 07:17:53 AM
Quote
Johnson, herself is a huge proponent of the digital currency and has mined roughly 200,000 satoshis, according to the FT report.
So she has mined 1/500 of BTC that roughly translates to 8$.
There are two posilibilities:
a) the guy that made the article is a complete moron
b) Johnson is herself a moron.
LE
Seems like it's b.
Original ft article (paywall)
https://www.ft.com/content/876ec06c-3f46-11e7-9d56-25f963e998b2
Quote
Ms Johnson noted that Fidelity has also set up a bank of computers built by 21 Inc that can crunch complex algorithms to be rewarded with bitcoin.
“My . . . computer has mined over 200,000 satoshis,” she said, using the name for the smallest unit of bitcoin.
“My . . . computer has mined over 200,000 satoshis,” she said, using the name for the smallest unit of bitcoin.
I don't know what "computer" they use but they would be better with usb miners.
September 29, 2017, 06:56:56 AM
https://techcrunch.com/2017/09/28/fidelity-ceo-abigail-johnson-says-the-company-is-mining-cryptocurrencies/
Quote
Fidelity Investments, one of the world’s largest investment firms with $2.3 trillion in managed assets, is taking a long look at cryptocurrencies.
The firm has been experimenting internally with bitcoin, but is now bringing some of those features out to its broad customer base.
According to reports in Quartz and The Financial Times, Fidelity’s chief executive, Abigail Johnson, spoke at length about the company’s commitment to cryptocurrency at Consensus, a bitcoin-themed conference in New York.
Johnson said that the company had made several venture investments in bitcoin-related businesses and that the company was looking at applications of blockchain technologies alongside several leading universities.
According to Quartz, Fidelity has also set up a small mining operation inside the asset manager — one that’s making money for the company.
From Quartz:
One of Fidelity’s projects is mining bitcoin and ethereum, which Johnson said was started for educational purposes, but now turns a tidy profit. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money,” she said.
The FT reported that the company had bought its mining hardware from the now-pivoted 21 Inc. (whose chief executive appeared onstage at TechCrunch’s Disrupt conference in San Francisco last week).
Johnson, herself is a huge proponent of the digital currency and has mined roughly 200,000 satoshis, according to the FT report.
The firm has been experimenting internally with bitcoin, but is now bringing some of those features out to its broad customer base.
According to reports in Quartz and The Financial Times, Fidelity’s chief executive, Abigail Johnson, spoke at length about the company’s commitment to cryptocurrency at Consensus, a bitcoin-themed conference in New York.
Johnson said that the company had made several venture investments in bitcoin-related businesses and that the company was looking at applications of blockchain technologies alongside several leading universities.
According to Quartz, Fidelity has also set up a small mining operation inside the asset manager — one that’s making money for the company.
From Quartz:
One of Fidelity’s projects is mining bitcoin and ethereum, which Johnson said was started for educational purposes, but now turns a tidy profit. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money,” she said.
The FT reported that the company had bought its mining hardware from the now-pivoted 21 Inc. (whose chief executive appeared onstage at TechCrunch’s Disrupt conference in San Francisco last week).
Johnson, herself is a huge proponent of the digital currency and has mined roughly 200,000 satoshis, according to the FT report.
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