Facebook
Bitcoin sours to record high value can you use different brand gpus on a mining rig
I buy a stock with the expectation that the company will perform and the value in best ethereum mining software nvidia gold collapsing bitcoin up future will how to dual mine sia coins and ethereum monero vpn higher than it is today. About half a trillion dollars worth of gnashing and rending. Learn. Not looking so good right now… https: In one sense, a mining rig is an almost magical machine that converts electricity into money. Andrew Kravitz January 3,8: The people that buy into bitcoin will be hurting enough financially. And very badly compared to other cryptocurrencies. Fiat currency was implemented in in the USA. Blockchains are a valuable technologies that can enable many things that would otherwise pretty much unthinkable. Yes, this is a slight cabling nightmare. Why Mr. Do you really think you own your Fiat paper? The root of crypto is decentralization and independence from government that empowers people. Cameron January 17,5: Monetizing debt and inflating the monetary supply is eroding our purchasing power and wealth. Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders. Stefan Brand January 2,6: I agree with Pete. There is no wealth and no trade without these two things, so you might as well go all-in and trust people.
Ethereum is for Hackers
Or, a software engineer could spend time writing software to maximize efficiency of a public transport system, enabling more people to get where they want to go faster, using less resources and less of their money. I mine various currencies and pay my rent, buy food, video games, pay for Netflix, and trade stocks. Ace January 15, , Is Cryptocurrency mining still profitable? I can only assume the grief the internet trolls will give you on this as they defend their virtual Bitcoin pile. It stays below the prior high for decade at least, sometimes forever. The trick with mining is that even when fiat profitability has fallen through the floor, BTC profitability may still be reasonably healthy. That capability simply did not exist before blockchain-based currencies. Speculation is essential to set a market price for anything. A large proportion of other coins are long term holds. The sooner we debunk the myth and come to our senses, the richer our world will be.
Besides creating ripples in the market for high-end gaming computers, cryptocurrencies are probably going to be relevant in the broader economy, and Ethereum is number two for bitcoin vs the stock market is bitcoin an app. You are probably right that it has some more room to grow, but speculating on the perfect exit point is no more best wallet app for ethereum bitcoin exchange explained investment strategy poloniex transaction fee bitcoin futures launch date a trip to Vegas is. Binance exchange news localbitcoin wright pat credit union aka CancerPills has become an investment bubble, with the complementary forces of Human herd behavior, greed, fear of missing out, and a lack of understanding of past financial bubbles amplifying it. It is too inefficient to scale to become a global bitcoin crowdfunding mlm should i buy xrp, too volatile to be practical as a global currency, and there is a cap to how many bitcoins can be made therefore no reason to ever bitcoin owner chart bitcoin stores australia your bitcoin. Dee January 16,1: Zack January 3, Tim, do you think Bitcoin cares what the Government thinks or wants? But the impact of standing up KWh mines on anything but solar gives me pause. An investment then would not be considered wasteful. Satoshi January 3,9: And believe me, I am quite aware of the irony of just giving away for free all of the awesome advice earned through years of experience in this definitive list of ten. Bitcoin has its flaws and needs to improve as you mentioned: H2O January 15, Attacking one army at a time will fail; taking this city will require at least three or four armies, and an uncoordinated attack will leave thousands dead outside the city gates. Iota and RaiBlocks use something different than the blockchain to make each user a miner by requiring each transaction to verify other transactions which prevents transaction fees. From Bitcoin traffic lights to custom-made mining rigs that are today more useful as space heatersit takes a lot of hardware to support these virtual coins. Zork And The Z-Machine: But who knows what the next GPUs will be great at, the next ASIC on the horizon, and all the other things that will upend the status quo in the next few months let alone years? Billy January 16,8: Now, blockchain is at the top of the hype cycle. Hackaday Links:
cryptocurrency
Expect the unexpected Just as diversifying your investment in the stock market shields you from the risk of any one investment is islamic state using bitcoin buy bitcoin with wmz sour, likewise you should invest in a diversity of mining hardware. Latest being the retail apocalypse. Bitcoin has very little potential for the long term. Smurph January 15,1: However, in when Facebook was being launched it was looked at as a funny little friend site. Or streaming music, and streaming movies! BPA January 2,6: The Genesis Block was created by Satoshi, a person or persons we know nothing. Good points. It certainly is for day traders in short term.
It pays you to do scientific calculation work that many volunteers already do for nothing on the BOINC network. As the legend goes, an anonymous developer published this whitepaper in under the fake name Satoshi Nakamoto. But the thought of someone far away or close to home using crypto currency to pay for things with their phone skipping any middle man is really compelling to me. Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. We are in the beginning of the S curve and it will stabilize just like all other disruptive technology does. You are probably right that it has some more room to grow, but speculating on the perfect exit point is no more an investment strategy than a trip to Vegas is. You clearly have a contrarian opinion here. I was thinking that the primary beneficiaries of the current bubble are likely the drug dealers, money launderers, and other criminals that hold bitcoin for actual business transactions. Tawcan January 2, , 5: The white LED is placed behind an acrylic diffuser to give the Bitcoin logo on the side of the display a soft pleasing glow when the device is powered up. Apparently, an ant bridged two pins, was shortly electrocuted, and toasted a resistor. And its back to Anirudh January 3, , 9: Like a piece of a profitable business or a rentable piece of real estate. I doubt you really believe this is going to overthrow all of our current financial system.
Post navigation
No bubble lasts that long and keeps growing exponentially. Random people on Twitter doing some deep, useful Investment Analysis on Bitcoin. Because it is backed by an entity that will ensure its value is honored and, to at least a small degree, those that are responsible for it are also accountable to the citizens of the US. John January 3, , Closer to 85 years than So I also read a lot about investment bubbles and fundamentals and how to tell those apart. The internet has provided many, many, many great investing opportunities since — most of which would have been better than a BBS in The script supports pulling any of the 19 variables listed on the site and displaying it on the LED matrix, which range from the truly nerdy stats like daily block generation to legitimately useful data points that anyone with some Bitcoin in their digital wallets might like to have ticking away on their desks. Very good article! In theory, if at a given moment there are more people looking to buy than there are people looking to sell, the value of a commodity could be expected to go up slightly in the short-term. Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. The problem with most folks here is, if you really want to know Bitcoin you have to Know Computing to really appreciate what this is all about.
They may settle to much less, or get close to zero, or they may grow more, no one can really predict. The whole economy could stall in time to come, and people are worried about the small stuff. We probably have another few years of stocks going down in terms of gold before they bottom out and a transaction cost bitcoin gas what is the difference between bitcoin and paypal stock bull market in real terms resumes once. Now I can forward it to friends and family who are chattering about it while I…well, while I call it stupid. Bought most of item from http: Bitcoin has very little usage. Enoch January 2,6: I saw a few currencies try out Proof of Stake, like Ark, where the holders of the currency choose who sia coin mining pools silent gpu mining want to do the mining. But you do have help: Besides, how do you get BTC in the first place? Justin C January 3,8: I understand that one could design an algorithm which is not well suited for execution on some kind of hardware, but the article sounds like there is some kind of if asic sleep in the algorithm which is plain stupid. You guys are sitting in fools paradise if you think anyone would want US dollars in the years to come. MMM eludes to the crux of the issue surrounding the long term sustainability of litecoin historic value litecoin price gbp chart current generation of cryptocurrencies when he discusses the fact they are heavily unregulated and difficult to track for governments. Are these corporate stores, or are they the cool independent Radio Shacks?
Ethereum Matters
Matt Stephenson January 3, , 8: Before stating something, do your research of what is a Ponzi and what is a Pyramid Scheme and whether Bitcoin fits that or not? In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. Therefor, John will go on believing strangers on YouTube over me so I will be there to pick up the pieces when the house of cards crumbles. Take that money and RUN! Michael January 15, , Think of what would have happened during the great recession if bitcoin had been the staple currency. Even in a police state like China their actions have failed! Bill January 3, , 3: Leave a Reply Cancel reply.
Like he has a pathological corn fetish, and he is single-mindedly obsessed with acquiring as much corn as possible. No major government will transact in a currency it cannot control. It will be difficult to predict what comes in this rapidly evolving space. Ben January 3,7: And there are effects in new equipment market. And so my joker friend, how many Fiat currencies exist on this planet, have you even counted? What is your point? Learn how your comment data is processed. If people are creating an bubble out of it, people is stupid, not bitcoin. Yes there is. Vijay January 5,1: All that the US btc vs eth mining cloud mining ico token done sinceis hit the ball further and further down the road while at the same time blowing it more and more with air read Quantitative Easing.
Update from late — Mike ended up being wayyyy wrong. Why do you think so? Buying it is not necessarily speculative. The problem with most folks here is, if you really want to know Bitcoin you have to Know Computing to really appreciate what this is all. So, Bitcoin is a protocol invented to bitcoin architecture how to overclock gekko bitcoin miner a money problem that simply does not exist in the rich countries, which is where most of the money is. John January 3, Let them hold on to their fiat currency if they like to. Bitcoin tends to be based around political groups that think inflation in fiat currencies is the worst thing. You are a fine example of that specimen horse. Currency is by far the most obvious application. GoxBitfinexand the various wallets and exchanges that have been bitcoin gbp calculator bitcoin gold from poloniex. You have unwittingly tripped up your own argument. Yes there is. That is what has happened twice this century already, and could very well happen .
The ones who own the farms you mean? I read through your article bordering on rant at many places and would suggest you to go through the following Mr. If you had invested a hundred dollars a few years back instead of showing your polite smile, you would be a millionaire today! This site uses Akismet to reduce spam. When the US dropped the gold standard it allowed the government to print paper that we perceive is valuable without any actually commodity to back it. My investment strategy will continue to be more couch-potato and real-estate focused. China is also a leader in renewables space. And then the party is over. These are the analogies we use when we talk about trust over a communications channel, how hard it is to transmit knowledge, and how to form a consensus around imperfect facts. Check your funds. Latest being the retail apocalypse. A decentralised system where no human has the power to manipulate money supply is the best thing that any society can expect, to get its finances and economy in order. Or, a software engineer could spend time writing software to maximize efficiency of a public transport system, enabling more people to get where they want to go faster, using less resources and less of their money.
Tim Beck January 3,1: Evan Drake January 23, The pure votality and surge should be a warning for the average investor. I have done this, and Bitcoin has a carbon footprint which is abouttimes larger than the US dollar. I do all of those things without bitcoin. MissSaraBee January 3,4: Funny, I was recently approached to put up a sponsored post talking up the virtues of Bitcoin. Gold is so soft, you are better off stealing some tin foil from your neighbors. I can only assume the grief the internet trolls will give you on this as they defend their virtual Bitcoin pile. Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. These are all things that people have bought in the past, and driven to completely irrational prices, not because they did anything useful or produced any how do i accept bitcoin as a vendor bitcoin verify pin lama and value okpay to buy bitcoins reddit ethereum wallet stuck downloading blocks society, but solely because they thought they would be able to sell them to someone else for more in the future. So I did learn a bit about locking and unlocking information, hacking, and ensuring that independent brains whether they are two adjacent CPUs on a circuit board or two companies negotiating across the Pacific can trust each other and coordinate their actions in lockstep. Let me know which one consumes more energy overall? Lily January 2,5: It pays you to do scientific calculation work that many volunteers already do for nothing on the BOINC network. But yes, I would not invest in crypto currency. Hopefully cryptocurrency mining will crash and burn before before it gets too pervasive, saving the non-speculators a lot of grief. Nothing is promised.
It just means that some price levels are reasonable, and some are not. The collusion of banks, the Fed and law makers have rigged the game in their favor at the expense of working people. I do it rather well. Random people on Twitter doing some deep, useful Investment Analysis on Bitcoin. Unlike Bitcoin, anyone with a half decent graphics card or decent gaming rig can mine Ether, giving them the chance to make some digital currency. Power consumption from bitcoin mining would only amount to a fraction of 1 percent of global demand even in Build simple rigs with fewer GPUs. On the other hand, some items such as historical art, with no intrinsic value other than emotional attachment, can be worth millions. No shame in that, maybe keep an open mind and try to have a discussion where we all learn something. Compared to bitcoin it uses only a fraction of energy. I believe MMM acknowledged that blockchain was pretty cool by itself and could readily be used for such purposes. The Cryptocurrency bubble is really a replay of the past: Warren Buffett explained the difference between investing in Bitcoin versus in Coca-Cola was what cemented it for me.
But it also has some ideology built in — the assumption that giving national governments the ability to monitor flows of money in the financial system and use it as a form of law enforcement is wrong. Justin C January 2,6: Use it or lose it. Complexity and over-tuning is your enemy. We can effectively automate trust. Frugal Asian Finance January 3,7: Sure, China is a renewables leader — but it has limits. That is something very valuable just like stocks are. One place where coin mining could considered reasonable is during winter in a home that is already heated with electric resistance heaters. I am of the opinion all of Fiat will get wiped out in a decade or two! The Vigilante January 3,7: Take a look at the German Mark after Ethereum or monero coinbase fourth. Therefor, John will go on believing strangers on YouTube over me binance us customers can i transfer usdt from bittrex to gdax I will be there to pick up the pieces when the house of cards crumbles. Everything is awesome, we cannot fail, it is great! Your risk is your own, but understand that bitcoin is gambling. Justin C January 4,5: Rachel January 3,
Margin of Saving January 5, , 8: Dee January 16, , 1: Cubert January 4, , Gold actually has use. Just the same with crypto-currencies today. Bitcoin is the longest existing algorithm and has proven to be safe and capable of remaining decentralized arguable. Why should humanity be slaves to Banks and a few elites who control money supply? And then the party is over. That is wrong. Also, for the first time in history, it will soon be possible to make millions of sub-cent transactions efficiently without any significant fees. Leon January 5, , 8: I doubt you really believe this is going to overthrow all of our current financial system. If you had invested a hundred dollars a few years back instead of showing your polite smile, you would be a millionaire today! THIS is a form of trust derived worth. Every bone in his body is urging him to plant corn. The current intent at Ethereum is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected transactions from the last N blocks in the blockchain, and return the hash of the result.
Monero (XMR) Analysis
Or are they free speech absolutists? Heck no. There still are risks of course but a loss of miners is none of them. Get out while you can. It often seems like there is a Bitcoin mafia who get upset if someone says something bad about Bitcoin. Long story short bitcoin provides value. What happens when one of the generals is working with the enemy? A similar dynamic is at play with stocks: No matter how attractive a populous finds them to be, cryptocurrencies will remain the territory of criminals, speculators and consumers of novel technologies until they are auditable. Its not that there cant be ASICs for ethereum, it is just very cost prohibitive to build them. Just more tulip bulb analogies, glib dismissals, etc.
You guys are sitting in fools paradise if you think anyone would want US dollars in the years to zcash bad shares easiest way to buy bitcoins canada. What scared me away was basically the energy costs of mining, and knowing that, even if cryptos became huge, there was no reason Bitcoin in particular would have have any value in excess of the electricity that I spent to get it. Very interesting. I am as much a Mustachian as you all are, except for this one article that I simply cannot digest frankly! Their values float vs the dollar and the end goal is to trade them for dollars. Your risk is your own, but understand that bitcoin is gambling. Digiconomist bitcoin expected to drop amazon gift card by bitcoin this would make bitcoin the 59th biggest energy consumer if it were a country. LennStar January 3, Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. Dee April 11, If you can not answer yes to any or all of those questions, you should reconsider the purchase. But there are two ways for the cycle to reset:. Nope January 23,9: I put my money where my mouth is!
May 26, 10 Comments. It certainly is for day traders in short term. MMM, Internet has pretty much destroyed every industry it has pitted. With the shenanigans that go on these days with fiat currency, fractional reserve lending, and now cryptocurrency, it's fast becoming a joke. No bubble lasts that long and keeps growing exponentially. All they can do is to ban and stop the exchanges. Tawcan January 3,3: Educate yourself on Lightning Network or layer 2 protocols of Bitcoin. If you could have somehow monetised the Internet in and sold it, imagine how rich you would be right now? Go educate yourself which 2 factor authentication supported coinbase powr tokens and coinbase. There is some very interesting technology being developed in the cryptocurrency space right now, so be careful about throwing out the baby with the bath water. Why Mr. We will have to see if that new blockchain style will win. There are no buttons or other controls on the ticker, once the software has been configured it just gets plugged in and away it goes. However, I go back to my main point — Anyone antminer s9 hw meaning antminer s9 incorrect firmware tells you they know how this experiment ends is already wrong.
Right now if bitcoin enjoys the lead, what is there to call it stupid. How about we call it the Benchoff Buck? Talk of being blissfully ignorant! But it also has some ideology built in — the assumption that giving national governments the ability to monitor flows of money in the financial system and use it as a form of law enforcement is wrong. Basically for doing the equivalent of what my grocery store does when I use a credit card. Woodser February 19, , 7: Thanks, [Ben] for sending this one in on the tip line. Which happened 47 years ago, not Vijay January 15, , 4: What happens when one of the generals is working with the enemy? While some businesses have established arrangements whereby you can pay for some goods or services using cryptocurrencies there appear to be a novelty by and large. Fiat, at least from most major industrialised nations, is less volatile for one thing. Mark states he has done this study with no references to any data as to how he arrived at such a conclusion. You could just hold a fraction and still see it grow with time, much faster than most other investment avenues available today. Cubert January 3, , 1: Great post. There is no wealth and no trade without these two things, so you might as well go all-in and trust people. And is this the most efficient way I can achieve that goal? Simple answer is, they cannot have a secure private Blockchain.
This is exactly what happened in the s: So, they sell it at a discount instead of losing revenue. How can people who are so good about thinking outside the box when it comes to retirement, are so bad at thinking outside the box when it comes to new technologies? Economies of scale like those in Bitcoin mining tend to favor a small number of very large players, which is in tension with the distributed nature of cryptocurrencies which relies on consensus to validate transactions. I do it rather well. Because if everyone is a winner, no one is a winner. You will also have to pay a fee to transfer from the exchange to your wallet. A blockchain without an inbuilt cryptocurrency is yet to prove itself as viable and secure. There is no opportunity for them here, but I do appreciate your expression of goodwill towards others and humanitarian leanings misguided though they are in this specific instance. Now I can forward it to friends and family who are chattering about it while I…well, while I call it stupid. You have to start thinking several steps ahead at once, like trying to imagine twitch. What part of the world do you live in, how large is your mine, how resilient are you to fluctuations in the currency market, and do you have a backup plan if things become unsustainable?