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[BitTech] Start-up announces embedded Bitcoin chip

post #1 of 8
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Quote:
A surprisingly well-funded start-up company has announced its intention to embed a Bitcoin mining chip into smartphones and tablets, claiming that future uses of the blockchain will prove its worth.
Quote:
'Conceptually, we believe that embedded mining will ultimately establish Bitcoin as a fundamental system resource on par with CPU, bandwidth, hard drive space, and RAM,' claimed Srinivasan. 'That is, one can imagine the ultimate thin client in which a system designer consciously chooses a relatively slow CPU but a relatively strong 21 mining chip, using the Bitcoin generated therein to purchase computation in the cloud.'

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post #2 of 8
Why? Unless i missed the part where they embedded nuclear reactors in our phones... how are our batteries going to keep up!

using as authentication there are many more well proven methods that are fast, and require no more chips.
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post #3 of 8
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post #4 of 8
... Yeah.... lets put an ASIC chip into our wireless devices so they can mine.... and kill the battery... while you hope you at least break even on the power costs, and debate if the 20 cents in coins is worth doing something with.

Such a baaaad idea.
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post #5 of 8
Would be better if this was folding instead of mining.
post #6 of 8
Someone give me this startup's address. I want to hand deliver to them the internet's golden cookie for outstanding achievements in idiocy.

You could have put this in literally anything else and it wouldn't have mattered. You could have put it in a dishwasher. Instead you chose mobile devices which rely on low power consumption when the very requirement for mining is more power consumption.
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post #7 of 8
i can't see people accepting this from any angle...


UNLESS we get the phones for free biggrin.gif
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post #8 of 8
They got $116 Million from fundraising.... somethings odd..... seriously who would invest into this? Even if you take the Mobile aspect out... it's nothing special. When you look at all the endorsements.... it gets even stranger... https://medium.com/@21dotco/a-bitcoin-miner-in-every-device-and-in-every-hand-e315b40f2821

Seriously... what am i missing? Remove mining out of the equation because no one will waste power mining on a mobile device.... so, whats left? Your bitcoin wallet? They are creating protocols and stuff for transactions, but that's just software.... why hardware?
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