Cryptocurrency mining makes a move to RTX 3000 Series Laptops

1) Identify insatiable twat
2) Click user name
3) Click the the "Ignore" button (top right)

 

thanks, i did the same.

 

Thanks for the tips lol

 

U mentioned greed hilbert but in iran at least most of the miners including myself are poor so its more about attempt for surviving rather than packing money.We have a corrupted government that slaughter us and steal our money and freedom so we must find a way to survive one of the best ways is mining cryptocurrency by pirating electricity.

 

so what's different with crypto ? buying bitcoins is like buying shares on it...the main appeal of the crypto is that you are not in the mercy of banks etc

first paragraph: actually Bitcoin is very traceable every single transaction is transparent and can be traced the ledger never forgets ! Monero on the other hand is another story . Now about what i see wrong is that economies at the moment are backed by nothing at the moment the way it works on the usa economy for example .... the us goverment getting a loan from the federal reserve with a bond that promises to return those back + interest those loaned money are created out of thin air no gold standard since 1971 ...the federal reserve in return sell those bonds to other countries .... and repeat .... over and over again ...point is what happens when and IF suddenly none wants to buy bonds ? the whole thing will collapse we have a lot of examples of what happens when a currency collapsing and inflation rises to 1000%'s or a lot more 0's

second paragraph : "Mining crypto wastes an astronomical amount of electricity in a world where clean energy is lacking, and I can't buy a new video card." on that point i 101% agree on this one it is waste of energy and recourses

 

That's the only valid point that's been established so far, and it's a reasonable one - use of electricity, ie. drain on natural resources and environmental impact.

There is also a fact that some other people are willing to pay more for GPUs than they are.
Which in turn prevents people from playing their games at maximum details wasting the same electricity already mentioned in the valid point. Remember just how many times we've heard on this very forum: WHO CARES ABOUT POWER and ppl taking pride in OC-ing and driving their HW far above anything optimal; while others cheer them on "bro you need to raise voltage to 1.45V!!"

So it's part hypocrisy, part having to face how real-world markets work. But nevertheless I can empathize. Like I can empathize with a child being denied a new toy.

Lets recap: One completely valid and one semi-valid childish point. Everything else is manure.

Other than that... and overlooking the obvious hypocrisy of either never caring about electricity, or not caring enough to deny yourself anything; overlooking the hypocrisy of wanting to ban one activity(economic) so you can waste electricity during another (leisure)

How would you ban 1s and 0s from propagating across the internet. I am all ears HIT ME

 

You are soo smart bro . You think you outsmarted everyone and you deserve it . Go on with that thinking

 

I hope this Crypto Currency craze ends in a big crash.
All these Currencies should be banned by all Countries and even owning them should fall under severe punishment.
Nothing good will come out of this.
Big waste of needed Resources and helping destroy our planet even faster...
Stupid Greed will cost all of us our lives in the end.
And with us I mean the human race not us as all who are here in this forum.

 

I understand all the negativity here, since it rises the cost of the hobby. But there is absolutely nothing wrong with cryptocurencies. Bitcoin, as the most popular, is finite and every transaction is traceable. So how does an argument for illegal stuff works? I could give you a better one, open your valet and take out your cash, there is your untraceable currency that can be used for illegal stuff.

The biggest advantage and attraction of crypto is that it is not controlled by governments or banks. There are no coins generated out of thin air in a single instance as we have with fiat currency through fractional banking. Our regular money are created out of nothing at every loan and then the bank collects the interest on it. Since we have now been in lockdown for a year, this systems starts to show massive drawbacks. E.g. in the past 10 months US has printed 67% of all dollars. That's approaching Wiemar republic and once people realize that the pretty paper they have is worthless, the crypto is only going to skyrocket.

Not that crypto didn't constantly and rather quickly grow all the time. The volatility of crypto compared to fiat currency is only because of the small total capital, but that too is slowly changing.

 

NVIDIA is considering restarting their production of CMPs - NVIDIA Corporation (NVDA) Presents at 19th Annual J.P. Morgan Tech/Auto Forum Conference (Transcript)

edit: albeit "if mining demand continues to rise"

whatever that means... I'd say it's risen; from a profit standpoint they stand to make the most leaving the situation as is - I'm not sure if launching CMPs will be cost-efficient for them...

 

Because banks were never involved in money laundering or other illegal activities...

 

I have sold some free (free?) RTX 3080s...did they cost a lot for you to buy?

 

My guess is they used someone else's electricity.... so essentially someone out there paid for them.

Or maybe it's those reported stolen cards and then they sold them.

 

Actually that´s the main problem with digital "currencies" for me, they are trying to create money out of thin air! The miners aren´t really mining anything, they are simply executing some random useless code that bring no benefits at all. And that´s why we now a ton of wannabe bitcoins, that are also useless!
Because if we treat bitcoin as currency, then all the other whatevercoins must also be treated the same, right?

Also, bitcoin can be traceable but the owners remain anonymous, that´s why it´s being used by criminals. It´s the same issue with offshore countries/banks, no one knows who owns the accounts or companies seeded there.

Now, you are right when you say that right now our money is being created out of nowhere but crypto solves nothing, it only makes things worse.

And like i said, the reason crypto is reaching this absurd is thanks to all that money being create out of thin air, that is being loaned almost for free, and being used on speculative investments like crypto, stocks, housing and so on...
Why do you think that stocks, crypto and other "investments" are breaking daily records when everyone agrees that a new economical crysis is looming?

Infortunetly, the current situation of crypto is just a reflex of an economy system that is broken and can no longer be fixed. But make no mistake, crypto is no the solution for anything, is just another problem created by a broken financial system.

 

Thanks for the replies. You know you are all hypocrites,you sit there owing computers,phones ,cars and live in houses which all use elements from the earth and especially rare earth elements and you think nothing of it. Well if you are all that great ,go move to the woods and give up the luxury of the world. I for one will continue with the way I want to run my life until my Country goes from free to communist . I like GPU mining and I will continue to do so. Thanks to GPU mining I am able to buy stuff with profit which equals free.

All some brainwashing going on in this thread,amazing .Imagine thinking fait money was never use in criminal activity.There some big blinders on some of the weak people these days.

 

Buying stuff doesn't mean it's free. Doesn't matter how you make your money when you pay for stuff it's not free. People hate banks as much as they hate crypto and i've never heard anyone say banks are super clean. I mean do you live under a rock? Also computer waste has been a known problem for a while. We need to do better re-using old computer parts i don't think anybody question that.

All this doesn't change anything about crypto being at best a speculative investment akin to the tulip mania and the fact you could make a very strong case about it being pretty much a scam. It's also no secret it's used by criminal organizations like off shore banks are. You want to be part of the game do it it's a free country but don't run around trying to justify yourself by trying to make others look bad.

I wont shed a tear when the crypto speculative bubble will burst. And i'm almost 100% sure it will one day. The price fluctuate way too much and way too quickly and the value of it is not anchored into reality. It's a matter of time before its grossly inflated value burst and people lose money and confidence in it.

 

Bitcoin and crypto are not going anywhere. The cat is out of the bag. With fiat currency being printed at astronomical rates to support our broken economies and currencies, crypto is only going to grow.

Bitcoin and crypto are the future of currency, like it or not. Bitcoin creates an immutable ledger that is secure, and has a limited amount to ensure no one can devalue the currency. It is impossible to counterfeit and is easily verified. These properties as well as the energy/hardware required to participate in mining are the reason the value has risen.

The other use is to wrangle control of currency from governments who devalue and destroy their own currency to support broken financial systems that will fail if interest rates rise even 1%.

The USD is the main currency used in criminal transactions. BTC can also be used but no one wants to spend it due to its deflationary properties. Much of the energy used to mine BTC is energy that was going to be generated no matter what so miners setup near these sources to use excess power to mine. Bitcoin uses a small fraction of energy compared to the financial system with high rises in every city and buildings full of people, equipment and computers.

I am a gamer as well and I hate what has happened the prices of PC hardware. This was unavoidable however. With AMD and Nvidia pushing compute as an alternative use for GPU power it was inevitable that a use would be found that would cause a supply crunch. If not crypto it would be some other use along the lines of Folding@home or render farms or even AI training. Along with other semi conductor bottlenecks we are looking at increased prices for hardware for the foreseeable future.

TLDR; I like crypto, it has uses and a future, but it really sucks how it affects other sectors that demand the same hardware.

 

If you want to approach it like that then the fiat currency has inherently no value either. It is just a waste of paper, dye and energy printing it all distributing it. Digitally we create billions out of nothing, backed by no value and yet there is interest incurred on it. You are correct about other cryptocurrencies, but there is a reason why they aren't as popular or cost as much as bitcoin and it is mainly because bitcoin is finite.

Paper money is even worse and as you yourself pointed out, you can have a bank account in some offshore heaven that doesn't work with police, like Switzerland.

I also disagree that crypto is the same thing as stocks, since it has actual use. You can pay with it and it can be used as transaction medium, too. But I do agree that the stock market is just rigged casino, it was recently well demonstrated by the wallstreetbets.

 

Let them all burn in hell.