Topic: Noob speculative question: Department of Energy's computer and btc mining (Read 2149 times)
March 29, 2013, 08:55:04 AM
yes but free market will render this redundant in about 4 years
March 18, 2013, 11:16:39 AM
NSA reportedly has its own foundry and surely can match whatever Avalon did but on Intel CPU level of tech.
Wow! If true that is insane! I would have expected they have a tight classified agreement with a large American semiconductor firm to fabricate novel chip designs, but not actually owning their own foundry.
March 18, 2013, 10:55:40 AM
And now for drunk russian soldiers using armor to drive for more alcohol http://www.youtube.com/watch?v=NaaP7bQglcU
LOL! Ohh nostalgia....
sorry for offtopic but just a random video I saw today, it was randomly posted on zerohedge in comments somewhere. That one has caused another nostalgia attack http://www.liveleak.com/view?i=a19_1361905919 even though in my times the rifles were a lil simpler (one part less).
Back on topic, they will need top 1000 supercomputers and still will fail to match Bitcoin network. However, NSA reportedly has its own foundry and surely can match whatever Avalon did but on Intel CPU level of tech.
They wouldn't use hashing power anyway, they would just attack the exchange rate, using the Exchange Stabilization Fund.
$105bn vs. 0.5bn
https://mtgox.com/press_release_20130228.html
$105bn vs. 0.5bn
https://mtgox.com/press_release_20130228.html
just give it a few years and once Bitcoin hits 10k$ this problem will disappear.
March 18, 2013, 10:39:20 AM
They wouldn't use hashing power anyway, they would just attack the exchange rate, using the Exchange Stabilization Fund.
$105bn vs. 0.5bn
https://mtgox.com/press_release_20130228.html
$105bn vs. 0.5bn
https://mtgox.com/press_release_20130228.html
March 15, 2013, 04:24:07 PM
Right now Bitcoin is approximately 16 times bigger than Titan.
Alternately Titan could add 6.25% to the Bitcoin hash rate.
Right. Also it uses NVIDIA crap instead of ATI cards. NVIDIA is better at some other computing tasks like cracking specific hashes but for raw Bitcoin power and gaming experience ATI is absolute chempion and it costs less. Alternately Titan could add 6.25% to the Bitcoin hash rate.
March 15, 2013, 02:40:08 PM
Nothing to worry about then.
March 15, 2013, 02:30:22 PM
Right now Bitcoin is approximately 16 times bigger than Titan.
Alternately Titan could add 6.25% to the Bitcoin hash rate.
Alternately Titan could add 6.25% to the Bitcoin hash rate.
March 15, 2013, 02:26:41 PM
Ok good to know. The little I know about this system was the fact it was using so many GPUs. That is why I was having a little fun with a "what if" scenario. Yes ASIC is King now.
Here is the monster's website:
Titan will be the first major supercomputing system to utilize a hybrid architecture, or one that utilizes both conventional 16-core AMD Opteron CPUs and NVIDIA Tesla K20 GPU Accelerators
http://www.olcf.ornl.gov/titan/
Here is the monster's website:
Titan will be the first major supercomputing system to utilize a hybrid architecture, or one that utilizes both conventional 16-core AMD Opteron CPUs and NVIDIA Tesla K20 GPU Accelerators
http://www.olcf.ornl.gov/titan/
March 15, 2013, 02:12:41 AM
The Pentagon doesn't talk to the CIA?
Weird. It does in Clancy novels.
-MarkM-
No, the Cancer Man is key player in Pentagon - CIA communication. According to X-Files. Weird. It does in Clancy novels.
-MarkM-
March 15, 2013, 01:41:53 AM
The Pentagon doesn't talk to the CIA?
Weird. It does in Clancy novels.
-MarkM-
Weird. It does in Clancy novels.
-MarkM-
March 15, 2013, 01:34:00 AM
If the US government wanted to end Bitcoin, it could do it in a heartbeat. It would take the tiniest fraction of the US budget to utterly destroy Bitcoin.
Probably no one in White House or Pentagon understands how Bitcoin really works. The traditional mothod of FBI seizing server will not work. The ASIC development costs time. 51% attack will not destroy Bitcoin but ruin transactions after hardcoded checkpoints. March 15, 2013, 01:21:30 AM
If the US government wanted to end Bitcoin, it could do it in a heartbeat. It would take the tiniest fraction of the US budget to utterly destroy Bitcoin.
March 15, 2013, 01:06:23 AM
Unless the supercomputer was designed to do Bitcoin mining like the ASIC chips it will have a hard time actually beating the network.
Most supercomputers are almost general purpose because they are used for many different tasks, ASIC chips are desgined just to do one thing and are very good at it. (think of how NVIDIA chips are far far worse at hashing compared to ATI chips)
If there is a supercomputer built out of hundreds of thousands ATI GPUs then they could really mint some coin, might even be able to take over the network with a 51% attack, but they would have to act quick because the longer they wait more ASICs are coming online and they would need a supercomputer made of ASICs to have a chance.
Most supercomputers are almost general purpose because they are used for many different tasks, ASIC chips are desgined just to do one thing and are very good at it. (think of how NVIDIA chips are far far worse at hashing compared to ATI chips)
If there is a supercomputer built out of hundreds of thousands ATI GPUs then they could really mint some coin, might even be able to take over the network with a 51% attack, but they would have to act quick because the longer they wait more ASICs are coming online and they would need a supercomputer made of ASICs to have a chance.
March 15, 2013, 01:01:13 AM
It is nothing wrong or dangerous if they hash. If they produce valid block, then valid block is valid block and they helped the network. Even if they choose not to include any transactions like someone did it in past, it is not a major problem.
Using government supercomputer to mine Bitcoins is like using APC vehicle or T-72 tank to drive to liqueur store to buy more vodka. It is possible to do and some russians already did that, but both supercomputers and armored vehicles are not well suited for these tasks.
If You don't know, nothing can beat in hashing power GPU cards or recently ASIC chips. General computers are somewhat slow at these tasks.
And now for drunk russian soldiers using armor to drive for more alcohol http://www.youtube.com/watch?v=NaaP7bQglcU
Using government supercomputer to mine Bitcoins is like using APC vehicle or T-72 tank to drive to liqueur store to buy more vodka. It is possible to do and some russians already did that, but both supercomputers and armored vehicles are not well suited for these tasks.
If You don't know, nothing can beat in hashing power GPU cards or recently ASIC chips. General computers are somewhat slow at these tasks.
And now for drunk russian soldiers using armor to drive for more alcohol http://www.youtube.com/watch?v=NaaP7bQglcU
March 15, 2013, 12:51:32 AM
They will not even have 10% of current Bitcoin network hashing power. Bitcoin network as whole is more powerful than any supercomputer.
Yep. And when the pre-ordered ASICs come on-stream, then the DOE would be <1% and lucky to hash 1 block a day.
March 15, 2013, 12:35:09 AM
They will not even have 10% of current Bitcoin network hashing power. Bitcoin network as whole is more powerful than any supercomputer.
March 15, 2013, 12:30:51 AM
Haha, the day that any department, of anything, cares enough about Bitcoin to start mining it is the day that we don't give a fuck because we're retired now.
March 15, 2013, 12:00:22 AM
This will never happen. Of course. I have no idea what type of OS they use (some kind of linux for massively parallel systems maybe, not sure)
But lets say it does and the client is compatible. The D.o.E. downloads it and starts mining. Forget about nuclear physics and recreating the whole weather system while helping running codes for the FBI and others. The whole computer is used for mining bitcoins. nothing else. the thing is though, just for "fun" the D.o.E. will randomly stop and restart mining. It could do it for 30 sec, or 1 hour. Just because...
What could be the best outcome from this scenario to the Bitcoin network
What could be the worst outcome from this scenario to the Bitcoin network
Oh Now lets say China does the same thing with their massive computer. Can't have the US Gov have all the fun.
But lets say it does and the client is compatible. The D.o.E. downloads it and starts mining. Forget about nuclear physics and recreating the whole weather system while helping running codes for the FBI and others. The whole computer is used for mining bitcoins. nothing else. the thing is though, just for "fun" the D.o.E. will randomly stop and restart mining. It could do it for 30 sec, or 1 hour. Just because...
What could be the best outcome from this scenario to the Bitcoin network
What could be the worst outcome from this scenario to the Bitcoin network
Oh Now lets say China does the same thing with their massive computer. Can't have the US Gov have all the fun.
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