- cross-posted to:
- hackernews
- cross-posted to:
- hackernews
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The difference between AI and Bitcoin is that people actually use AI to do productive things.
Lost all your money on Bored Apes, now generate your own!
Abandon the bitcoin scam, full steam ahead for the AI scam!!!
I hate this timeline so much
“Scammers find new scam”
Hey now, at least bitcoin has it’s uses. And if you have a farm for it I doubt you’re scamming on the side, that’s risky.
How would they make money from ai? be like chatgpt and release their own ai plans or something? or something else?
Make no mistake; the people selling server time will be making money. They are selling a real product to a real customer, it’s just the customer is a tech company that will never make money back in turn.
Maybe host open source models and offer paid access for customers who need big generating capacities.
Aren’t most miners running ASICs that are pretty much only useful for mining specific coins? I was hoping we were past the last “people are buying off-the-shelves GPUs for crypto” bubble.
Depending on which crypto, but yes. And the ASICs have a usable shelf life of just a few years, so I assume they are migrating to machines for AI processing as their ASICs need routine replacement.
Yeah there’s lots of open providers like this.
Paid : give money for
Payed: nautical term meaning to let out some slack on the rope or to cover the deck in tar/pitch for sealing it
Same way a lot of the “ai” companies make money, investors that have no idea but want to get in on the ground floor of the next nVidia or openai.
OpenRouter is a marketplace for AI inference
In theory you could lease your server capacity to the big AI players, but then they would have to trust you -a noted crypto grifter - with their data.
Like AI companies care about business ethics
Investors keep trusting noted crypto grifters with money.
Subscriptions for waifus?
Major Bitcoin mining firm pivoting to AI
one shady grift for another
Yeah, I’d expect there to be some real overlap between crypto and ai bros.
Some overlap? It’s like 90%
especially if you have the infrastructure in place
I thought Bitcoin mining made no sense at all on GPUs any more? Unless you were running ASICs then the power costs just weren’t worth it, and application-specific is part of the acronym, there. Why would these things even be able to run an LLM?
In any case, Bitcoin just needs to iterate as fast as possible in order to find a match, doesn’t really need a lot of RAM. Whereas LLMs need really large amounts - NVIDIA’s latest data centre racks have about a terabyte for a reason. Even if you had cornered the market on GPUs five years ago for Bitcoin, what use are those cards for this?
If I read the article property, the real asset is the rackspace and power they are already leasing. They would tear out the existing Bitcoin mining infrastructure and replace it with AI servers.
Some of these bought decommissioned power plants like old coal plants, so they’re getting wholesale prices for energy.
One this is all speak to convince investors to throw money, so they’ll cheer pick their interpretation.
In this case I think they refer to already having the real estate, buildings, power and cooling. So “all” they have to do is rip out their rigs and dump a bunch of nVidia gear in. All they need is just a few hundred million from some lucky investors and they will be off…
I don’t get it. What are they even seling then? Bitcoins I understand, but AI? Just enabling scams?
Data centre capacity, they seem to be making an emphasis on access to independent power sources.
