Comment by caymanjim
14 hours ago
By the nature of blockchain, it's never, ever your crypto. It's allocated to whichever bucket the majority of participants in a given network agree to allocate it to.
14 hours ago
By the nature of blockchain, it's never, ever your crypto. It's allocated to whichever bucket the majority of participants in a given network agree to allocate it to.
Well, not exactly. A malicious majority of miners could rewind the chain as they please. They could indirectly steal some funds by undoing certain transfers, but they couldn’t just directly reassign funds to themselves.
Has anyone calculated the mining capacity of the AI data centre buildouts? Presumably the big firms could out-mine mining firms if they chose to?
Absolutely not, as GPUs used in data centers cannot compete with ASICs designed specifically for Bitcoin mining.
The Bitcoin mining network is somewhere around 1000 EH/s, while the (AI assisted research ahead) 34.5 million H100-equivalent GPUs globally would yield about 0.435 EH/s. They'd represent less than 0.05% of the Bitcoin network.
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