Sea Sonic Signs Deal To Power Next Generation of Bitcoin Mining Equipment

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Sea Sonic Electronics Co. and HashFast Technologies announced today that they have signed an agreement for Sea Sonic to produce power supplies for HashFast’s Bitcoin mining systems. The Baby Jet and Sierra mining units will be built using Sea Sonic power supplies, which are widely known for their industry-leading efficiency, quality and reliability. The highly stable output voltage from Sea Sonic supplies ensures the miners will consistently reach their maximum hashing performance. The very high efficiency of these supplies lowers the electrical costs involved in mining, and reduces the waste heat produced. Tests of the Sea Sonic power supply show an incredibly stable output and longevity, even when machines are overclocked, enabling miners to generate more Bitcoin for their money.
 
I just can't help but have the feeling that this whole Bitcoin thing is the biggest scam since Bernie Madoff.
 
TechLarry said:
I just can't help but have the feeling that this whole Bitcoin thing is the biggest scam since Bernie Madoff.
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It's a currency operated by no one in particular; it cannot be a scam, like gold cannot be a scam (but both can be a loss for their holders, of course). Whereas Madoff's fund was lying to investors (and operating as a ponzi).
 
pankkake said:
It's a currency operated by no one in particular; it cannot be a scam, like gold cannot be a scam (but both can be a loss for their holders, of course). Whereas Madoff's fund was lying to investors (and operating as a ponzi).
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There's no use explaining facts to people who go by their gut, irrespective to the reality of things. ;)
 
A currency operated by no one in particular is a scam, because it's not a currency. It's not legal tender for anything. At least dollars pay tax bills.
 
Aluisious said:
A currency operated by no one in particular is a scam, because it's not a currency. It's not legal tender for anything. At least dollars pay tax bills.
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I view it as a "no strings attached" investment vehicle. But, i would agree with you that it is not a currency.
 
Aluisious said:
A currency operated by no one in particular is a scam, because it's not a currency. It's not legal tender for anything. At least dollars pay tax bills.
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tell that to all the people using it as such and getting products, and you can get legal tender for it upon cashing it out... so it has some value, if it had no value why would PayPal be so interested in it and the FBI...
 
Thought I read somewhere that it's no longer as beneficial to invest in bit coins mining now as when it just started.
 
Technikal said:
Well that what all the guys into it now want you to think
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It has the bonus of being true. Not long ago, bitcoin value "split" kind of like how stocks can, because a certain number of coins had been mined, and it was always part of the design to have a drop in value once that number was reached.

Just going off of memory from when I looked into the things about a year ago, so dont like quote me on it. In any case, there are a finite number of bitcoins and there probably isnt more than another year of mining left in them, not sure how much value you'd get investing in new hardware for it, but maybe if you spend enough...
 
Aluisious said:
A currency operated by no one in particular is a scam, because it's not a currency. It's not legal tender for anything. At least dollars pay tax bills.
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Central banks and state currencies are very new compared to human history. And guess what? Those fiat currencies have a very short average life time: 27 years.

As for paying taxes, in many countries people only convert to the "legal tender" to pay them, but use other currencies as a store of value, because that "legal tender" is worthless.

Commander FAT said:
Huh? Everything I've read says mining will go on for another twenty years at least.
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Mining does not stop, ever. Rewards do go down, to eventually only including fees, however.
See https://en.bitcoin.it/wiki/Controlled_supply
 
Do any of these asic mining machines ever actually actually materialize? If a company had a product that actually could mine and generate income at a competitive advantage, why would they even sell it?
 
Wrecked Em said:
Do any of these asic mining machines ever actually actually materialize? If a company had a product that actually could mine and generate income at a competitive advantage, why would they even sell it?
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Great question, that more people should ask.

Mining is a bet on future difficulty, and manufacturers might not want to bet on it (and also on price, as their costs are mostly in other currencies). They could also have cash flow needs. So you could sell it for a little lower than expected to mine, but have the money now.
In reality, many miners bought overpriced miners, even when they were warned about it. For the manufacturer, it thus make sense to sell.

One of the first ASIC companies, AsicMiner, made a killing by mining with their own chips, but then made even more by selling them as cute USB sticks, none of which have made back their cost in bitcoins.
 
im worried that bitcoin will be useless when quantum computing hits in 20 years or so.
 
Ocean said:
im worried that bitcoin will be useless when quantum computing hits in 20 years or so.
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Bitcoin uses SHA256 and ECDSA, if those are broken you'd have much more important issues as they are widely used. The protocol is extensible though, and those algorithms could be replaced by something else.
 
Aluisious said:
A currency operated by no one in particular is a scam, because it's not a currency. It's not legal tender for anything. At least dollars pay tax bills.
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It is legal tender, used around the world as an accepted means of exchange by all kinds of businesses. Yes, it is used for both legal and illegal purposes...and I invite you to tell me what government-backed currency is not.
 
Ocean said:
im worried that bitcoin will be useless when quantum computing hits in 20 years or so.
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Bitcoins are only supposed to be created/generated for a set amount of time, ending sometime in the early 2020s, I believe. After that, the pool exists and can grow no larger, protecting against the kind of inflation-crazy printing binges engaged in by outfits like the Federal Reserve.
 
Stiletto said:
Bitcoins are only supposed to be created/generated for a set amount of time, ending sometime in the early 2020s, I believe. After that, the pool exists and can grow no larger, protecting against the kind of inflation-crazy printing binges engaged in by outfits like the Federal Reserve.
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I wasnt referring to bitcoin mining which stops in 2140 or so, i was referring to the wallets, and whether or not quantum computing will make them reverse engineerable, then impersonatable, and then perhaps fork the blockchain.
 
Again, bitcoin mining does not ever stop, only rewards through inflation (as opposed as rewards through fees) gradually go down.
 
pankkake said:
Again, bitcoin mining does not ever stop, only rewards through inflation (as opposed as rewards through fees) gradually go down.
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i dont think that would be called "mining" anymore.
 
45454asasa said:
Does it really matter what its called? Mining equipment still gets rewards... :rolleyes:
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i think a century and a third into the future is a bit to far to speculate that they will keep the same equipment from the years 2140 to 2145.
 
Indeed mining hardware is becoming obsolete very quickly (6 months if you're lucky). This should slow down a bit as we are becoming close to current mainstream tech (custom 28 nm ASICs) instead of relying on old processes.
 
Until the alt coin scene dies, there will always be a place for multicoin pools that mine Scrpyt coins -> BTC.
 
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