5 ms·
Ask HN: How much BTC could AWS mine if Amazon put all resources into mining?
- mammajamma 9y agoStupid question, it would be negative ROI as electricity costs eclipse BTC value
- gus_massa 9y agoCorrect answer, but bad tone. From https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html > In Comments > Be civil. Don't say things you wouldn't say in a face-to-face conversation. Avoid gratuitous negativity. Somewhat related: If someone steals your Amazon credentials, he can use them to mine bitcoins. Using the CPU to mine bitcoin is not efficient and the value of the mined bitcoins will be much smaller that the cost of electricity and Amazon services, but it doesn't mater because he is not paying the bill. For example read: http://www.securityweek.com/how-hackers-target-cloud-services-bitcoin-profit http://www.securityweek.com/how-hackers-target-cloud-service... PS: It may be a interesting to know this as a theoretical question. But as a practical question, the idea is not profitable at all.
- geetfun 9y agoDefinitely not meant to be interpreted as a practical question. Just a theoretical "what if" kind of question.
- noloblo 9y agoProbably enough to do a 51% attack on the bitcoin network and convert all bitcoins to amazon coins
- Frogolocalypse 9y agoDo you have any figures to back that up? My assumption would be that all of amazon would be a drop in the bucket for bitcoin mining. Their hardware isn't designed for SHA-256 hashing, so unless they had dedicated ASIC's my assumption is that they wouldn't even be close. Be interesting to find out for sure if someone knows though. Just as an aside, even if you had 100% of mining you couldn't spend peoples coins. You could stop people spending their coins, but miners can't modify existing transactions, just not include new transactions in blocks they mine.