Mining on PS5

4 седмици ago 0 28

The cryptocurrency market has provided an opportunity to make money. Mining of digital assets appeared with the Bitcoin blockchain in 2009. This activity involves finding a hash (chain link identifier) using computing equipment. In March 2021, a news item appeared in the Chinese publication Gizchina. It stated that a crypto-enthusiast from China bypassed the protection and started mining on PS5. The rumor spread across the Internet, but the news turned out to be a fake.

Is it possible to mine on the PS5 console

In 2021, news spread about an enthusiast from China who started earning digital currency on the PlayStation 5. A local publication showed a screenshot of a program for crypto mining Ethereum coins. Its developer is Gu Yifan (Gu Yifan). The screenshot shows that the PlayStation 5 delivers up to 98.76 MH/s performance. The speed of hash selection is commensurate with NVIDIA GeForce RTX 3080 graphics card. And the power consumption of the gaming console amounted to 211W.

Eventually it turned out that the information from the Chinese edition about mining on PS5 is a fake. The screenshot is real, however, on it mining was not conducted on the console. The pranksters have left a message in the QR code on the left side of the image. If you scan it, an inscription in Chinese will appear. It translates as “This is just entertainment, there is no such software, hahaha”.

Why you can’t organize mining on Playstation 5

The company held a presentation of the Playstation on June 12, 2020. At it, players were shown the performance of the new console. Some began to think how to mine on Sony PlayStation 5. However, the manufacturer made it technically impossible at the level of the operating system (OS) of the console. It is impossible to create software without the consent of Sony.

Theoretically, it is possible to hack the gaming station and write custom code for it. But this is illegal in most countries of the world. In Russia, there is a law on information technologies and their protection. If you hack into a game console, the hacker will violate Articles 272 and 273 of the Criminal Code of the Russian Federation.

In May 2016, a resident of Saratov was sentenced to one and a half years in prison. He hacked Xbox devices for money to order.

ByBit

5020 $
bonus for new users!

9.8

VISIT Read Review

ByBit provides convenient and safe conditions for cryptocurrency trading, offers low commissions, high level of liquidity and modern tools for market analysis. It supports spot and leveraged trading, and helps beginners and professional traders with an intuitive interface and tutorials.

Binance

Earn a 100 $ bonus

for new users!

9.5

VISIT Read Review

The largest crypto exchange where you can quickly and safely start your journey in the world of cryptocurrencies. The platform offers hundreds of popular assets, low commissions and advanced tools for trading and investing. Easy registration, high speed of transactions and reliable protection of funds make Binance a great choice for traders of any level!

Other options for mining

Legally mine cryptocurrency can be done on different computing equipment. For this purpose are suitable:

Central processing unit (CPU). It is rarely used due to unprofitability. As of April 2022, CPUs are suitable for crypto-mining Monero, Bytecoin, Vertcoin.
Graphics cards (GPU). More efficient than processors in most blockchains. Video cards are used by miners to mine Ethereum and other digital assets.
ASIC devices. This is the most productive equipment for mining Bitcoin, Litecoin, Dogecoin and other coins. Devices are made specifically for cryptomining (perform a single task).
FPGA boards (user-programmable gate arrays). Expensive chips that are almost not used for mining since 2012. The user can change the logic of the FPGA board (program).
Smartphones. Their use is possible, but unprofitable. A mobile device will “burn out” faster than it pays off.

The choice of assets for cryptomining depends on the equipment used. Blockchain networks have their own algorithms for generating hashes. Digital assets for cryptomining on different computing devices are listed in the table below.

Hardware	Coins
Processor	XMR, ZEC, BCN
Video card	ETH, ETC, ERGO, RVN
ASIC	BTC, LTC, DOGE

Summary

It is not possible to get digital currency on PS5. This is due to limitations in the device’s system. Running third-party programs on consoles must be approved by Sony. Cryptomining on PlayStation 5 is possible if you hack the device. But this violates the laws in most countries of the world. In Russia, there are criminal articles for this.

Frequently Asked Questions

❔ What is an ASIC?

Application Specific Integrated Circuit is a special purpose integrated circuit. These devices are capable of performing only one task.

💻 Where should I put my mining equipment?

A small number of devices can be placed on the floor of the balcony (for cooling). However, a large farm is placed in separate structures and production buildings.

❕ What is a rig?

It is a purchased or homemade frame with installed video cards and additional equipment (power supply, motherboard, raisers, RAM, SSD drive and others).

❓ Which GPUs should I choose for my mining farm?

As of April 2022, AMD Radeon RX 580 (8GB) and NVIDIA GeForce RTX 3070 (8GB) were popular.

✅ Can Bitcoin be mined on video cards?

Yes. However, due to the high complexity of the network, the profit will not pay off the equipment. The equipment will fail before its cost is recovered.

Is there a mistake in the text? Highlight it with your mouse and press Ctrl + Enter

Author: Saifedean Ammous, an expert in cryptocurrency economics.