Quote from: MeGold666 on July 03, 2024, 10:29:16 AM

Quote from: Wind_FURY on July 03, 2024, 10:18:49 AM

Quote from: MeGold666 on July 02, 2024, 09:25:13 AM

Bitcoin mining is quickly becoming thing of the past, current landscape is AI.

Laughable, and it's obvious that you didn't think well about it before making that statement. There's more to mining than mere hashing to "win the lottery" for rewards. There's a particular dynamic between mining difficulty, the price speculation of Bitcoin, the demand for blocks, and so on. To say that it's "becoming a thing of the past" is simply WRONG. In fact, the way HashCash is utilized in Bitcoin, it's actually a thing of the future. ¯\_(ツ)_/¯

You are arguing not with me but with the reality, read it again:

Quote

In recent months, major Bitcoin mining companies have started to swap out some of their mining equipment in favor of rigs used to run and train AI systems. These companies believe that AI training could provide a safer and more consistent source of revenue than the volatile crypto industry. And so far, these pivots have been warmly received by investors, leading to the market cap of 14 major bitcoin mining companies jumping in value by 22%, or $4 billion, since the beginning of June, J.P. Morgan reported on June 24.

Source: https://time.com/6993603/ai-bitcoin-mining-artificial-intelligence-energy-use/

This is happening at ~60k USD price evaluation, if it drops any further you will see a large drop in Bitcoin security.
Current levels of hashrate are a bubble due to the price being a bubble for so many years.

You may hysterically laugh all you want, it won't change a thing. This is current reality.

But that doesn't consider the actual dynamic between the miners - who are also speculators, mining difficulty, and the price of Bitcoin. Those parts are constantly moving that lead to whether a miner adds more hashing power, or reduces hashing power. That's the current reality. Running some of their hashing power for A.I. systems "may" become part of the rotation, but saying that Hashing as a Sybil Protection Mechanism is a "thing of the past" is simply wrong. It's the future.