Author Topic: If the bitcoin bubble bursts, this is what will happen next  (Read 178 times)

ilconsiglliere

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The Gorn

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Re: If the bitcoin bubble bursts, this is what will happen next
« Reply #1 on: December 22, 2017, 01:27:56 pm »
A buncha cheap used numeric coprocessors and servers flood the market?
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unix

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Re: If the bitcoin bubble bursts, this is what will happen next
« Reply #2 on: December 27, 2017, 03:17:05 pm »

yeah.

I really cannot wrap my head around the concept why the damn thing uses GPU versus CPUs.  the concept eludes me.
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ArnoldW2

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Re: If the bitcoin bubble bursts, this is what will happen next
« Reply #3 on: December 27, 2017, 04:46:00 pm »
Unix wrote:

Quote
I really cannot wrap my head around the concept why the damn thing uses GPU versus CPUs.  the concept eludes me.

My understanding is that a GPU has more parallel processing capabilities than a CPU, and that those capabilities lend themselves very well to BitCoin calculations (mining).

The Gorn

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Re: If the bitcoin bubble bursts, this is what will happen next
« Reply #4 on: December 27, 2017, 04:48:39 pm »
GPUs are special purpose numeric processors for doing things like rendering (AKA painting the pixels) for elaborate, detailed 3D graphics in real time - gaming mainly, and some CAD.

GPUs today have the same significance that "floating point coprocessors" had in the 1990s. They're accelerated number crunching chips. Except they're cheap now.
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Crypto

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Re: If the bitcoin bubble bursts, this is what will happen next
« Reply #5 on: December 27, 2017, 05:30:41 pm »

The GPUs do Mathematical calculations much faster with less overhead so they use less power and the Bitcoin algorithm lends itself to be easily implemented in circuits. So people are building Application Specific Circuit Boards that are faster still and use less power.

If Bitcoin were to crash completely there are now over 1300 other digital currencies ready to step in and replace it.

unix

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Re: If the bitcoin bubble bursts, this is what will happen next
« Reply #6 on: December 28, 2017, 06:54:15 pm »


Yes, bitcoin is backed by the same thing the Federal Reserve Note is backed by.
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