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RE: I WENT INSIDE GENESIS MININGS BITCOIN AND ETHEREUM MINING FARM!
I hope we will soon see quantum computers doing crypto-currency mining. Quantum computers will provide unprecedented processing power due to the superposition principle. That is instead of either '1' or '0' like in a mundane computer, a quantum computer can be in both '1' and '0' states at the SAME TIME! This is the secret to its super fast processing power. As we discuss, companies like Intel, Microsoft are working on quantum computers and their inception to tackle practical problems ( like mining crypto-currencies ) is not that far away in time.
wouldn't this be a bad thing? too centralized. hashrate itself is not a good thing.
It is know that bicoin mining it's mostly cetralized in China, Antminers are made in China, but it's not on China's interest to concentrate all the hashing power, that would render Bitcoin value less for the rest of miners / world.
Also Quantum computers are still very far away to be concern of, and the major concern would be that theoretically for a quantum computer it would be very easy to hack all the wallets that hold Bitcoin, ethereum, litecoin... so in these years to come maybe we will see digital coins taking distance of the traditional mining as it is done now, and implementing anti quantum protections.
QRL is quantum resistant. Probably will see quantum computing in 5-10 years, buy now hold til then and be ready for a whole new world:)
in·tan·gi·ble
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Proud of you King Tre!!
Glad you can finally "touch" them....
👻
if we will see quantum computers, you and me we won't profit. Until they are payable for normal people, thugs like Bill Gates, Mark Zuckerberg, Jeff Bezos, etc. will rob every coin they can get.
It will all go proof of stake! No need!
have you seen this ? https://steemit.com/mining/@vicson/proof-of-work-vs-proof-of-stake-mining-for-babies
Let me know what you think .
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Thank you
hahah
FYI a Pixie comment was identified in your most recent post.
I'm a troll I won't be pixing any more :D what are the basis for a pixie comment
Over here https://steemit.com/cryptocurrency/@j3dy/introducing-the-foundation-behind-the-iota-the-network-txt
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The quantum computers could be very disruptive for cryptocurrencies. Imagine if you are the first to develop computers that could take advantage of extremely fast mining. You could potentially own the market before too long until the next one comes along. Perhaps more ominously, what would happen if they render the technology behind cryptocurrencies obsolete?
That is a great possibility. Crazy to think how quickly they could do it. Too bad I can't build one in my garage.
Wait! Don't get disappointed that fast. Remember there are still LIVING people who used to submit their data on punched cards for analysis into huge room-sized computers! Technology and innovation is progressing at unimaginable speeds, thus a quantum computer for personal use may be not that far out :)
:) I need to get Elon Musk working on it. I'm sure he needs one to power the equipment on Mars.
Electricity on Mars will be prohibitively expensive unless we go with Thorium or at least have Matt Damon using his hamster wheel.
Nice.
Matt Damon can get electricity from potato
sounds like a good idea.
meep
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meep
Getting deep...
Meep meep
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I think the closest thing to this that we have access to is using Amazon or Google's cloud services (particularly Amazon's because they offer machines with better GPUs). While not parallel computing, considering the insanely cheap prices those services cost, especially when you buy a discounted voucher from sites like bitcointalk....it's a very cool method until we get to the days of parallel computing.
Although, come to think of it...parallel computing might actually not be such a game changer. If you have parallel processes working on the same confirmations, the work wouldn't be segmented enough for multiple confirmations to necessarily occur faster. Single confirmations definitely, but multiple would need to use several instances...so I guess if you had several parallel machines hooked up together but with their computing power allocated across different nodes, then such power would be useful...
The increased difficulty levels in mining would accelerate dramatically if this tech were to be implemented and a great deal of miners would be put out of business or be required to spend a ton of money on new hardware...an option that might not be feasible depending on who rolls out such machines first and how aggressively they use it.
Time will tell.
Especially nice to hear they are expanding their X-11 Mining Contracts for they have been sold out for t2 long. Nice to see the proof!
I was thinking about that a long time ago and this is the first time I hear it from somone. Where can I get more info on that?
Yeah, I'm really excited for Quantum gaming! Just think about all the possibilities quantum can open up, exciting times ahead for sure.
So blocks will be both mined and not mined at the same time! :-)
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