Have you seen the news about this mining farm? - page 2.

NeuroticFish

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Quote from: Teraboy on November 08, 2016, 04:56:20 AM

Quote from: mwizard on November 07, 2016, 05:48:27 PM

It is described as a "data center". Presumably there are lots of users of different types including crypto currency miners.

But at first, I don't think if that is fully for mining, In my mind "are the mining activities included in the computing activities?"
Are you mean there are a lot of the activities besides of mining in there?

It also makes sense to be used for cloud storage. It would mean China's cheap access to a lot of people's data.
Unless proven otherwise, this may not be a mining facility. If it's in the news, I don't see why would they not tell what they do. Meaning, if the Chinese start bragging about something, they do it properly.
And since they control their news, if they want to hide it, they just hide it and it's done.

So yeah.. let's see what happens, but this is interesting news. It's officially not a mining facility, from that I see.

Teraboy

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Quote from: mwizard on November 07, 2016, 05:48:27 PM

Settle down. Nowhere is there anything saying this is a giant Bitcoin mining center.

Thanks for representing my curious feels.

Quote from: mwizard on November 07, 2016, 05:48:27 PM

It is described as a "data center". Presumably there are lots of users of different types including crypto currency miners.

But at first, I don't think if that is fully for mining, In my mind "are the mining activities included in the computing activities?"
Are you mean there are a lot of the activities besides of mining in there?

Quote from: spartak_t on November 08, 2016, 04:02:34 AM

Quote from: mwizard on November 07, 2016, 05:48:27 PM

Settle down. Nowhere is there anything saying this is a giant Bitcoin mining center.

It is described as a "data center". Presumably there are lots of users of different types including crypto currency miners.

You do realize that even if 20% of its capacity are using for mining, it would become of the world's largest mining farms/pools?

I doubtful for that.

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Quote from: mwizard on November 07, 2016, 05:48:27 PM

Settle down. Nowhere is there anything saying this is a giant Bitcoin mining center.

It is described as a "data center". Presumably there are lots of users of different types including crypto currency miners.

You do realize that even if 20% of its capacity are used for mining, it would become one of the world's largest mining farms/pools?

mwizard

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Settle down. Nowhere is there anything saying this is a giant Bitcoin mining center.

It is described as a "data center". Presumably there are lots of users of different types including crypto currency miners.

Wilhelmus

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Fact that it is Bitmain at the commands reassure me a bit for now, because it could be worst. I mean, they're practically part of the Bitcoin in itself.

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Quote from: shinratensei_ on November 06, 2016, 06:04:29 AM

Quote from: Daisy14 on November 05, 2016, 11:52:10 PM

China appears to be controlling bitcoin now, Chinese are responsible for the present increase in price.

Even you're not wanna for realize about the previous post and reading them for slowly, your post is out of the general things are contained in here. it's about new bitmain's facility and so far from the china's government, that's why I can recognize you a pure spammer, right?

Bitmain said in a tweet that they will only control a small part of the hashing power and the rest will be controlled by miners. Not sure what % of the hash though.

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Quote from: Daisy14 on November 05, 2016, 11:52:10 PM

China appears to be controlling bitcoin now, Chinese are responsible for the present increase in price.

Even you're not wanna for realize about the previous post and reading them for slowly, your post is out of the general things are contained in here. it's about new bitmain's facility and so far from the china's government, that's why I can recognize you a pure spammer, right?

Daisy14

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China appears to be controlling bitcoin now, Chinese are responsible for the present increase in price.

chesatochi

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Quote from: xuan87 on November 04, 2016, 06:41:33 PM

Quote from: Shiroslullaby on November 04, 2016, 03:52:07 PM

Quote from: spartak_t on November 03, 2016, 10:00:31 AM

Hmm... according to Peter Todd this farm would be as much as 75% of world's hashing power: https://twitter.com/petertoddbtc/status/793877455639498752

Having 75% of the world's hashing power in one location and controlled by one company is actually terrifying.
I feel like if this actually happens it will greatly affect the entire Bitcoin ecosystem.
China will definitely be firmly in control of Bitcoin, even more so than they currently are...

It is a very large mining farm, it is not a very good news, the last thing we want is one country controlling the miner because of the whale activity, we need another party to balance the mining, so it is not controlled by china, but i should say China really develop their technology for bitcoin, the good effect is our transaction speed will be faster, the bad side is, if this continue china can control bitcoin

I am not an expert on the security of bitcoin, but I remember when I read a book about the subject. If someone reach 51% of the mining, it can make an attack or something around it. That could be dangerous if China control most of mining operations. Also, I know the electricity cost is not very high and they should make a nice profit from it.

Otherwise, they will not invest to develop on infrastructure of this size.

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Quote from: Shiroslullaby on November 04, 2016, 03:52:07 PM

Quote from: spartak_t on November 03, 2016, 10:00:31 AM

Hmm... according to Peter Todd this farm would be as much as 75% of world's hashing power: https://twitter.com/petertoddbtc/status/793877455639498752

Having 75% of the world's hashing power in one location and controlled by one company is actually terrifying.
I feel like if this actually happens it will greatly affect the entire Bitcoin ecosystem.
China will definitely be firmly in control of Bitcoin, even more so than they currently are...

It is a very large mining farm, it is not a very good news, the last thing we want is one country controlling the miner because of the whale activity, we need another party to balance the mining, so it is not controlled by china, but i should say China really develop their technology for bitcoin, the good effect is our transaction speed will be faster, the bad side is, if this continue china can control bitcoin

Shiroslullaby

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Quote from: spartak_t on November 03, 2016, 10:00:31 AM

Hmm... according to Peter Todd this farm would be as much as 75% of world's hashing power: https://twitter.com/petertoddbtc/status/793877455639498752

Having 75% of the world's hashing power in one location and controlled by one company is actually terrifying.
I feel like if this actually happens it will greatly affect the entire Bitcoin ecosystem.
China will definitely be firmly in control of Bitcoin, even more so than they currently are...

spartak_t

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There are news that China plans to ban its people to move Bitcoin outside the nation so......

CryptoGore

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Wicked Stuff..china loves BTC after all...I'm just waiting the day they will announce full integration and tolerance to BTC industry

HanSchultz

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Quote from: spartak_t on November 04, 2016, 07:28:09 AM

I just realized I've miscalculated their power. If we assume they are using S9 miners, then their hash power would be around 1500PH. For those who don't realize what this means I will only say that the current Bitcoin hashrate is about 2000PH...

2000 PH oh my god,never realized the monopoly to control the entire hashing power is just not right ,but who else is challenging the Chinese ,i bet no one would challenge them.China will be controlling bitcoin forever

chesatochi

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Is unbelievable they build place like that only for mining Bitcoin... I am curious how much a place like this should cost to build and how much profit they can make with all this hashrate power !

Also, how many people will work there?

spartak_t

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I just realized I've miscalculated their power. If we assume they are using S9 miners, then their hash power would be around 1500PH. For those who don't realize what this means I will only say that the current Bitcoin hashrate is about 2000PH...

spartak_t

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I won't say its awesome. China will control Bitcoin mining even more...

Oilacris

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Quote from: Betwrong on November 03, 2016, 06:17:27 AM

Looks fantastic, but those are not actual pictures. Sine they are Computer generated images we can't know what is really going on on the site. I'd be very cautious if they'd propose cloud mining because they can't even show real pictures to prove they have that farm.

As op mentioned it would nearly acomplished and would operate this December and we could somehow say that its nearly finished and they made the plan which are shown on the picture. It might not be lived pictures as of now but its existing and true which means this is really a huge project with multi million dollar investment. This kind of news is awesome. FOr those people who say they would operate cloudmining, i think they would not do that for sure.

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Quote from: spartak_t on November 03, 2016, 04:01:02 AM

Quote from: shinratensei_ on November 02, 2016, 07:56:11 PM

Just using the ASIC miner s9 with 14TH/s and will consuming 1475 watt. this a new generation of the mining tools.

https://www.reddit.com/r/btc/comments/5aoskg/bitmains_new_xinjiang_computing_center_to_be/
https://bitcointalksearch.org/topic/m.16758689

My calculations were based on the S9, but I thought its power consumption is 1375, not 1475 watt...

Okay, nice correcting and thanks.

Quote from: spartak_t on November 03, 2016, 04:01:02 AM

Hmm... according to Peter Todd this farm would be as much as 75% of world's hashing power: https://twitter.com/petertoddbtc/status/793877455639498752

And Bitmain confirmed they are involved: https://twitter.com/BITMAINtech/status/794072384483442688

So, this is real...

But, it's too far from word of the completion and bitmain just having little shares on the planned facility?
I thought the miner are so rich. Thanks for this one also.

spartak_t

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Hmm... according to Peter Todd this farm would be as much as 75% of world's hashing power: https://twitter.com/petertoddbtc/status/793877455639498752

And Bitmain confirmed they are involved: https://twitter.com/BITMAINtech/status/794072384483442688

So, this is real...

Topic: Have you seen the news about this mining farm? - page 2. (Read 18204 times)