Do you think the M1 Max will attract people mining cryptocurrencies? Is the GPU up to snuff? It seems like the power savings would be a big plus. Granted, building a “farm” of MacBook Pros sounds like overkill, but I think the M1 Max will make its way to a Mac Mini next year.
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M1 Max and Cryptocurrency
- Thread starter KPOM
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The return should be good, however the stress on everything could be an issue, especially the SSD.
People talk about return not being great, but in all honesty, I think very little are expecting crypto market not to go a lot higher than now.
EU is testing out bond settlement with blockchain, US air force is working with blockchain tech, adoption in the world overall, NFT and art scene pouring money in.
I myself would have gotten one if I didn't just get a lenovo 7pro because of the OLED screen
Apple Silicon, so amazing that it's helping the Earth because scam coins are now using it to mine instead of power hungry GPUs.
To be honest, the current issue is mostly because of a chip shortage worldwide, I have been looking to get a car and the model I want won't be in stock till summer next year.
Everyone is mining Ethereum with GPU, it is the 2nd largest coin and has an insane future ahead that can change the entire finance scape globally.
Defi is allowing automatic lending and borrowing, trading and selling of any coins, without any bankers or government or regulations etc involved, and open to anyone with internet access.
(i am literally mining Ethereum, moving it to platforms that gives 6% interest)
You can do cross border transfer with immediate settlement, unlike our traditional world that is settled on the frontend (like visa/mastercard/paypal), but the backend actually settles it a few days/weeks later.
Ethereum will move out from a Proof of Work model (mining) to a Proof of Stake model (locking up coins basically), so the mining on Ethereum is going to change exponentially.
As for environmental side, the heaviest contributor is Ethereum and bitcoin, so Ethereum is cutting mining, Bitcoin mining is an important part of its reputation, so that's to stay.
But there are actual incentives for energy companies to mine bitcoin (energy usage cannot ramp up and down instantiously, they can capture these energy as bitcoin by mining), and then you see El Salvador with volcano mining.
Interesting world ahead.
M1 probably wasn’t enough for someone to work on a Metal compute miner, and previous AMD GPUs would’ve had better returns mining under Windows/Linux anyway. M1 Pro/Max will probably provide a little incentive if returns are even a little worth it.
It would be a better one without cryptocurrencies. Please stop promoting them, they're just today's version of Dutch tulip mania.
GPUs and CPUs aren’t difficult to get hold of right now.
There’s plenty of both in stock. The issue is purchasing the equipment that is good for mining.
The issue with car manufacturers is that they cancelled their orders immediately, then when orders bounced right back there was no capacity as they had sold their production slots.
I guess you are clearly not understanding the tech nor the future. Crypto is here to stay - thats why its getting adopted like crazy these days
I'll leave this here for anyone interested.
The TL;DR appears to be that it's not worth the wear and tear at the moment as it appears to be hashing ETH at ~10Mh/s (~4x the M1,) or ~$0.50 / day. If somebody wrote a miner in Metal instead of OpenCL (or maybe just better optimized the existing one) it could probably go higher but don't hold your breath waiting (on the flip side, there won't be any runs on MBPs by miners as long as its hashing like this.)
The TL;DR appears to be that it's not worth the wear and tear at the moment as it appears to be hashing ETH at ~10Mh/s (~4x the M1,) or ~$0.50 / day. If somebody wrote a miner in Metal instead of OpenCL (or maybe just better optimized the existing one) it could probably go higher but don't hold your breath waiting (on the flip side, there won't be any runs on MBPs by miners as long as its hashing like this.)
it has the be OpenCL, the 5700xt has the same tflop rating and similar bandwidth and gets 5 times the performance.