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Chips Capable of Mining Bitcoins 50 Times Faster Unveiled

hypnosec (2231454) writes | about a year and a half ago

Bitcoin 2

hypnosec (2231454) writes "A digital media student and head of BitSynCom LLC, Yifu Guo has invented a Application Specific Integrated Circuits (ASIC) capable of mining Bitcoins 50 times faster than currently available computer systems and offers an impressive price-to-performance ratio and consumes a lot less power as compared to GPU-based system available today. According to tests carried out by the Bitcoin Foundation, the Avalon V1 churned out “89 gigahashes of raw crypto-juice every second" which is equivalent to that 250 Radion HD 5850 graphic cards each consuming 200 watts of power. The Avalon V1 managed to pull this off by consuming only 600 watts of power. Given the capability of the Avalon V1, it will provide its users anywhere between $200 to $300 worth of Bicoins every day."
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2 comments

Can you buy it with Bitcoins? (1)

A nonymous Coward (7548) | about a year and a half ago | (#42772457)

How about with the promise of future Bitcoins?

In fact, why not pre-run each long enough to pay for itself, then give them away free?

Maybe they could have premium-pre-run packages which have run long enough to come with an in-store credit.

Re:Can you buy it with Bitcoins? (0)

Anonymous Coward | about a year and a half ago | (#42778675)

Well that would be one way to go. But, considering that they themselves would need to deploy multiple Avalon V1 to mine enough cash, they would be themselves reducing the mining capabilities of their devices over time.
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