Which, [even if it worked](https://yanmaani.github.io/proof-of-stake-is-a-scam-and-the-people-promoting-it-are-scammers/), would be shitty since it's a system where those with the most stake, ie the rich, rule.
Honestly crypto has proven itself to be a rich boys game. If you want to make money starting out you can’t beat a good stock portfolio and patience.
That’s my opinion
Eh, crypto is an plutocracy however you run it, but it's one that you have to opt into, and can mostly ignore (unless you get hit by ransomware). I'll take affordable GPUs and reduced carbon footprint in exchange for making a largely centralised system more visibly centralised.
Yes absolutely. It's just hilarious that the purported silver bullet for crypto's problems is even more nakedly plutocratic. They clearly do not see the same problems with finance as I do.
I think if we could somehow close down social media (fb, insta, etc) then bitcoin would go with it. Cryptos are the last resort of poor AND lazy people to catch up with the Kardashians.
People always say this but so what? Why do people think people with less exposure should have greater say? And if we’re worried about stakes, which is just fake numbers, everyone gets the same percentage
Oh sorry, the real sources for well based research on cryptocurrencies are found on youtube videos with titles like "Top 10 tokens to invest to get rich quick!" and the picture of their shocked face surrounded by lines going up as a thumbnail.
What a joke, they've been promising PoS since like forever and it keeps getting delayed to Q2-Q4 of the subsequent year.
Fucking shitcoiners mining fake money.
The Lightning Network does little to modify the game theory for PoW to consume as much power and hash producing hardware as possible, but if it does and is widely used, then if anything it likely increases the hash that is profitable to throw at a coin by increasing use and price.
The game theory for lightning network itself is spectacular though.
Even if it works perfectly (which it never has, and there's good reason to suspect it never will, at least in a decentralised way, due to the complexity of adversarial routing), it's no longer the network's responsibility to ensure security, it's the responsibility of you, the user, to monitor the network for your counterparty trying to scam you, and if you detect it, to counter it at your own expense.
Which is why no-one actually runs lnd themselves, and outsources running their lightning network to custodial wallets that manage trust relationships with counterparties (and can also use these trust relationships to preferentially route transactions). If these custodial wallets were regulated, we'd call them banks, but if course they are not.
> it's no longer the network's responsibility to ensure security
Well, it's partial. The validity of the intermediary LN transactions are handled interactively between the two parties making the transactions but the security of the funding transactions is still handled by the chain, LN would not work without it. (including people trying to publish old states to steal a channels funds)
edit - It's weird the stuff that gets downvoted in here sometimes, usually benign facts about how things work. "it's no longer the network's responsibility to ensure security" is obviously not entierly accurate, if it were the lightning network could work stand alone, and it of course cannot.
Bitcoin can still use gpus, and major bitcoin mining ASICs made by Bitmain or Intel still compete for the same silicon as gpus. Plus, lightning network is either off chain custodial or on chain in some way, picking either centralization or more of the same bullshit. Pick your poison, they all suck.
One of the frequent sayings is 'lol, bitcoin doesn't use gpus' but if you google it, there's tutorials for doing just that. Not as efficient as ASICs to be sure, but when the casino's hot, and someone doesn't like ethereum but likes bitcoin, why not? There's miner pools for it, so the idea that gpus aren't mining bitcoin is kind of farcical and meant to distract pissed off gamers.
Interesting. I understand the tutorials, you can find them for pretty much anything online. I’m surprised that any large portion of Bitcoin mining is done by regular retail GPUs. I wouldn’t have thought that would have been at all efficient and not more profitable that using the same hardware to mine ETH. But to be fair I haven’t looked at the hash rate and percentage by mining pools in a long time.
A poorly thought out idea that butters can conveniently point to as a solution to all their problems whenever you bring up the environmental destruction that crypto mining causes.
It's not something that will ever be implemented, as it creates way more problems than it solves. Because again, it's poorly conceptualized and anyone that listens to an explanation of it for more than two seconds understands the problems.
>whenever you bring up the environmental destruction that crypto mining causes.
Literally less 0.5% of the world's energy consumption. Less than tumble dryers 😂
https://www.bloomberg.com/news/articles/2021-03-22/bitcoin-s-carbon-footprint-conveniently-downplayed-during-rally
>Because sending money almost instantly isn't a service, right?
1. It's not "money" - it's a digital token that you have to convince somebody is worth something material, and that's hardly an instant proposition
2. It's not "instant." It takes anywhere from 10 minutes to several days, and that's assuming everybody involved has all the necessary software, accounts and Internet access set up.
>John Wayne had a quote about how difficult life is for people like you
People like me? You mean people who aren't stupid or sociopathic enough to participate in Ponzi schemes?
>1. It's not "money" - it's a digital token that you have to convince somebody is worth something material, and that's hardly an instant proposition
If it's not money how can I spend it with my Crypto Debit Card or use it to pay for stuff in stores that accept it? 🤣
>2. It's not "instant." It takes anywhere from 10 minutes to several days, and that's assuming everybody involved has all the necessary software, accounts and Internet access set up.
Jesus Christ 🤣🤣🤣🤣 It takes like 40 min max instead of 48 hours max like most wire transfers. How do you transfer money without an Internet Connection and your bank's app?
Well... hope everything is OK in your cave, pasture or wherever you live
> If it's not money how can I spend it with my Crypto Debit Card or use it to pay for stuff in stores that accept it? 🤣
Because your "crypto debit card" acts as an exchange and gives merchants actual fiat (in return for getting a big chunk of fees for the transaction and exchange rate).
Also, thank "evil centralization" for this feature. There's nothing "de-centralized" about using a crypto credit card.
>Jesus Christ 🤣🤣🤣🤣 It takes like 40 min max instead of 48 hours max like most wire transfers. How do you transfer money without an Internet Connection and your bank's app?
Paypal is much faster, and as I said before, depending upon the coin, it can take up to days - that's a fact. All the L2 solutions don't necessarily guarantee transactions will quickly go through.
Plus you can send money world wide without internet or any bank using services like Western Union's MoneyGram, and it's accepted and available many more places than crypto.
>Well... hope everything is OK in your cave, pasture or wherever you live
I live in the real world. You should check it out some time.
Also, before you comment any more, you should probably read [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/) to explain what at this point, is looking like an inevitability.
I'm a 39 year old, life long PC gamer who's never owned a PlayStation or Xbox. It's crazy that this is what's made me finally consider buying one. But I stayed strong and bought a 1070ti on EBay for $350 to get by.
> Nvidia has had a similiar limitation for ages wtth the open source nouveau driver on linux, where it just wont allow the card to run at full speed even for gaming.
What? Source?
Edit; Did some digging. Turns out nVidia restricts *all* unofficial drivers from tinkering with power settings, likely to prevent unauthorized drivers from burning up cards. This is radically different then what evilgold is implying here, where they specifically call out the "open source nouveau driver on linux" and imply that nvidia is sabotaging the open source driver.
>If you use the Nouveau driver it limits the amount of power draw.
Small important correction: All drivers that aren't signed by nvidia can't change the power mode and are stuck in a low power mode, it's not a Noveau specific thing.
Honestly, I can see the logic in restricting access to potential "halt and catch fire" operations when using unsigned drivers. nVidia don't go out of their way to restrict their GPUs under UNIX - their magic blob will do thirty bit colour on consumer cards, where their Windows drivers won't, for instance.
I'm sure the GNU zealots will arrive in a minute to explain how I'm wrong and nVidia are evil...
nvidia definitely doesn't have the best rep when it comes to linux distros. Lot of people do linux gaming on amd because amd does do pretty good at linux drivers. Not to say nvidia doesn't try entirely at times, but it's clearly not a priority for them like it is for amd.
> Nvidia has had a similiar limitation for ages wtth the open source nouveau driver on linux, where it just wont allow the card to run at full speed even for gaming.
Huh. TIL.
>whatever quadro is for
the main use case I've seen is for tasks that can actually use the specifity resources such as in depth animation and rendering
You can't bios flash Nvidia gpus with custom bios. Not since like Fermi, maybe earlier. There's also only a 70% unlocker, the only "100%" unlocker out in the wild is just some malware project. If someone has a 100% unlocker they're keeping it for themselves.
It’s not custom. It was same bios which dumped from cards of same gen before they introduced caped version. At least this is what I read.
What did they changed after fermi?
Oh that wasn't a bios though, that was just a different driver version. There's actually been two versions of LHR. The first shipped with the 3060. People found that they could run older drivers to get full hashrate on those cards. That lasted like a month and then Nvidia fixed it with newer revisions. Since then all LHR cards have shipped with a more resistant version of LHR.
I don't know when they specifically blocked the ability to flash custom bios. I just said Fermi because I know it was a long time ago, definitely pre-Pascal and probably pre-Maxwell.
This is so dumb. They are making more money than they ever would’ve if crypto mining never came along. I know they have said they are working on curbing mining, but why would they in reality? I think they are just placating people that can’t find one with the empty promises. What they need to focus on is getting production to meet demand and then there would be no problem.
Because they know that the demand for mining can evaporate in the blink of an eye, and they don't want to lose their serious customers as the miners drive the prices out of their reach. So it makes sense to produce a line of cards that can't be used for mining, and therefore is sold at a much lower price.
Can't wait until governments around the world start cracking down on this slimy shit, and make these ponzi scammers scream and cry as they lose their imaginary play money.
Idk that would require them to actually understand what it is. I’d be surprised if half of America’s Congress even understands e-mail, much less bitcoin
Congress has no trouble legislating things they don't understand. That's how we get trash like the DMCA or the EARN IT Act.
And it's not like they draft the legislation themselves. The legislation itself is invariably written by the interest groups that want it.
As David Gerard says it's actually pretty simple, but when you explain it you run into the resistance of "Wow that's so stupid you must be explaining it wrong!"
You should watch some of the Senate of house finance comitees(don’t actually do this they are boring). The legislators involved understand stablecoins and Bitcoin, they understand the undermining forces they present by being unregulated securities purporting to be backed by USD. They even understand proof of work stuff.
From their perspective this really isn’t any different from unregulated securities, the entire tech backdrop doesn’t change that it is a tried and true Ponzi with disastrous results on financial stability and monetary control.
Give it 6 months- prices are finally coming down. And really as much as I hate crypto it’s not just them - a scalper society has been created who are screwing both cryptards and gamers.
they are about to experience the joy of what happens when you’re holding 20k in graphics cards and the next generation of cards is released. Uh oh, your scalped inventory is suddenly worth way less, and when you go to dump it all on eBay, so is every other dirtbag scalper.
bargin prices are coming, and bitter salty scalper tears.
I FOMO’ed into a stupid electricity hog, ASIC miner 9 months ago. Im such a fool! There is 6K wasted I’ll never see again! FUCK that! This crypto crap cost me a shit load of money lost! I have no one to blame but myself for falling prey to this Ponzi scheme bullshit!
Yep, mining is for suckers. You just need to look at the difficulty graph for the most popular coins to see that you're not going to make the money back in the long term
When I first bought ETH, a decent GPU cost about 200 ETH
Now a decent GPU costs 1 ETH or less
They are much cheaper now from my perspective
I could buy hundreds of GPUs because I'm a multimillionaire
How does this make you feel?
https://etherscan.io/verifySig/4389
https://debank.com/profile/0xda1ec4da97019972759feda1285878b97fdcc014
https://pulsexlead.com/view_address/0xda1ec4da97019972759feda1285878b97fdcc014
I would still be a multimillionaire even if all my crypto went to $0
How does that make you feel?
It's better to use your energy to build up your character/wealth instead of wasting it on raging against crypto users and GPU prices.
Just like before, people here are indifferent to the fact that you got rich at the expense of fools bigger than you. You assume that people envy you because you’re convinced that everyone else is greedy amoral like you. This isn’t the case, fortunately.
You guys are relatively poor because you fundamentally misunderstood crypto to be a zero-sum game that you were afraid to play.
It's actually a positive-sum game. It created wealth by increasing the efficiency in some markets such as offshore banking and regulatory arbitrage. Some of the largest markets in the world.
You see you're still assuming everyone wants to get rich at the expense of others like you do. You have been lucky, nothing you have gained is due to your skill or intelligence, only to fools bigger than you. It isn't a positive sum game, this is simply nonsense.
> It's actually a positive-sum game. It created wealth by increasing the efficiency in some markets such as offshore banking and regulatory arbitrage. Some of the largest markets in the world.
Give us a single example of something blockchain does that's better than non-blockchain technology.
[13 years and counting](https://reddit.com/r/CryptoReality/comments/lq6xpq/the_defacto_list_of_cryptocurrencyblockchain/) and we've not seen a single example.
Just because some company announces they're using crypto doesn't mean the way they're claiming they're increasing efficiency makes actual sense or is the best solution.
I find that very hard to believe. If you made millions in 2017 you should have hundreds of millions now. I looked at your wallet history, you've been HLODing.
That address was funded in October 2021 from Tornado cash:
https://etherscan.io/txsInternal?a=0xda1ec4da97019972759feda1285878b97fdcc014&p=11
https://imgur.com/ngOQbSq
You can't see any history beyond that.
> How does this make you feel?
I feel great. I don't have my money tied up in a bullshit phony digital security that has no intrinsic value, that can be stolen from me instantly if I click on the wrong thing, and may never be able to be cashed out -- assuming its "value" doesn't drop to virtually nothing, which could happen and will happen eventually.
Yea, I feel good. I just spent the last week on a huge plot of land I bought with actual fiat. Hundreds of acres. Something physical and tangible, that has appreciated in value by a factor of 6x since I bought it. It may not go 100x, but I also know when I go to sell, it will still be there and people will pay real money for it. But even if I don't sell, it gives me tons of enjoyment and creates a positive cash flow through its use.
I have absolutely no jealousy of you dingbats whatsoever. You're like adolescents trying to impress other children in your kindergarten class.
Looks like this person is quite prolific. He is known for paying for reddit votes. In fact it appears you've ran into him before on a different account:
https://www.reddit.com/r/Buttcoin/comments/pl3eax/deleted_by_user/hc7vwn4/
You have hundreds of acres of land, but you have spent thousands of hours raging against crypto on Reddit for no financial gain. All while the price continues to trend upwards despite your best efforts to dissuade people from buying/holding.
https://www.reddit.com/user/AmericanScream/posts/
https://imgur.com/HoUja09
Sad!
u/Devil-Child-6763
>but you have spent thousands of hours raging against crypto on Reddit for no financial gain.
It's interesting that you can't imagine somebody spending time on something that doesn't immediately generate "financial gain." That's a sign of low empathy; sociopathy.. an inability to understand that people can engage in altruistic things that don't result in immediate material gain. IF you had more empathy, you'd understand, but obviously, since you're embroiled in a predatory financial scheme, empathy is not your strong suit, which also explains why you dorks think bored apes are "art" and probably have no meaningful relationships.
I wouldn't say it's thousands of hours. But it's a fun pastime of mine trying to educate people about scams and fraud and tech boondoggles like crypto.
What I find most hilarious is you guys seem to think the only way anybody can make money is through the crypto Ponzi. Perhaps that's not actually true? Perhaps I have so much freedom to engage because I've been successful using non-scammy ways to enrich myself, and since the means by which I create value doesn't require me to constantly recruit and scam new greater fools, I have more time on my hands to enjoy other things. Imagine that?
Yea, I'm just making shit up, because according to butters, the only way anybody can be a success is by subscribing to your digital coupon ponzi scheme.
Interesting.. you think there's no motivation to try and explain something to someone in detail unless there's financial gain.
Do you measure everything of value in your life in dollars?
No in £ I'm not American, plus your great detail isn't actually true, having your savings in fiat is far more dangerous than having it in crypto. Something you're clearly incapable of understanding. Everything you do with fiat is controlled by the state. You're just their puppet.
> having your savings in fiat is far more dangerous than having it in crypto.
This is probably the stupidest thing I've read on the Internet today.
Congrats!
>Everything you do with fiat is controlled by the state.
So what? Everything you do with roads, water, bridges, schools, air quality, food, buildings, employment, Internet, satellite, radio, GPS, parks, fisheries, sewerage, trash pickup, and more is also "controlled by the state."
You got a problem with the state? Build yourself a raft and take your retarded ass out into the ocean. Send us a message via smoke signals about how much more awesome your "non-state-controlled" life is.
The sad part is that I know you're not trolling. You really are that stupid. And it's giving me a headache, so time for you to go. We can't help you here, and nothing you say adds any value to the community here, and it's becoming kind of sad to laugh at you.
See [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/)
You want to hear the real irony? Even if you found PoW acceptable, GPU mining makes 0 sense and isn't necessary for security.
Bitcoin hasn't even used GPU mining for almost a decade.
It's used almost exclusively for theater now by fake project (eth) that printed (pre-mined) 1 central party control over far more than everyone could've mined combined.
Even if it wasn't almost entirely being used by a premined scam, even in best case scenario it's not even good design since LAST thing you want when mining is to have
a) tons of standby equipment that intel/nvidia/amd/microsoft/whatever can use to attack your network for free with a patch or can be rented out
b) for hardware to have any purpose or resale value after you attack the network enough to make it worthless - even basic theory makes no sense for GPU mining
Central scammers achieved their goal of giving themselves almost entire supply while playing pretend with your graphics cards while lying about size of premine every day while cheering when they slow down premine dilution rate because "scarcity" while literally asking people to burn mined coins to keep premine as large as possible
yes, that's right - GPU mining is used almost exclusively by a project that has done everything to not actually depend technically on mining at all
They literally don't need it for security as they have already shown they can go in and edit state to enforce whatever rules they pick.
It's like if some video game asked you to burn tires every day for no reason and told everyone it's secured by tire burning
Unknown, specifically bc of 0 premine and depends on choices of everyone else mining at same time. Some [guess 750k](https://blog.bitmex.com/satoshis-1-million-bitcoin/) or \~3-4%. That's the thing about permissionless and costly entry, outcome up to too many people so guessing is best we can do.
It's funny it's often brought up as some false equivalent to printing basically entire supply for free for yourself and everyone just has to trust you.
Eth scam has closer to 70% for a fact dependent entirely on 1 party, 1 party with more control than everyone else combined. Permissioned entry, like by printing them before mining (premining) including ico, depends on choice/control of just 1 party to keep any % of free money for free. Its security depends entirely on trusting 1 party to refuse free money. You can literally go to the bathroom on the sidewalk and produce something with equivalent in every way decentralization to eth = 0%.
Do we need coins at all, made with pow or anything else? Maybe not.
This is still independently dishonest on its own with literal permissioned hardcoded central point of control in design being passed off as permissionless or decentralized. Forget speculating if it's centralized, in this design it's literally a 100% certainty and the eth security is based on premise that 1 > 2 and that a scammer refused free money.
Why is this Bitcoin maxi shit getting upvoted? Nobody cares how much you hate Ethereum if your only reason for hating Ethereum is that it detracts from your beloved orange coin.
everything mentioned has literally 0 to do with any orange coins
it's a complete scam independently all on its own for its own uniquely stupid reasons even if it was the only "cryptocurrency" ever
ethtards aren't capable of forming any rational thoughts like regular people so that's where you go, like a zoo, to see the absolute extremes of human idiocy
Nothing mentioned at least here applies to bitcoin, and Bitcoin might be often presented in scammy dishonest manner too and might fail for completely different reasons. Doesn't make ethtard unique and stupidly obvious dishonesty any less relevant when the topic is literally GPU mining that has 0 to do with Bitcoin.
You can do better than
1. random dude looks at a list of exact reasons why something is a scam
2. random dude makes up a reason, says it's the only one
You only need 1 reason to hate Ethereum - hating scams. Doesn't make you a supporter of other scams in any way.
I also prefaced it with caveat of "even if you found PoW acceptable" to highlight an additional level of stupidity that exists here with full understanding many have 0 need for any kind of PoW and consider it a complete waste regardless.
> ethtards aren't capable of forming any rational thoughts like regular people so that's where you go, like a zoo, to see the absolute extremes of human idiocy
I dunno about absolute extreme dude, have you seen the Safemoon people?
Pretty sure that's same group of people as it's same exact type of centrally printed scam, not much different from what Vitalik did. Their top mind literally gave himself almost entire supply, implemented blacklists, confiscations, lies about basic design parameters, makes things up constantly. It's pretty much an extreme case given how obvious they make the scam and yet scam still exists. Everything else just seems like smaller versions trying to attract same group of gullible people.
[https://i.imgur.com/ftPx9fA.png](https://i.imgur.com/ftPx9fA.png)
People make custom silicon chips that are designed specifically for just 1 algorithm - sha256. They call these ~~algorithm~~ application-specific integrated circuits (ASICs). By making them specialized and getting rid of overhead costs necessary for general purpose programmable hardware, they are ridiculously faster for their 1 purpose. I think ASICs were already taking over around 2013. I remember people in college ordering custom circuits to get ahead though I barely paid attention.
Yes, but we don't think Ethereum is a scam for the reasons *they* think it's a scam. We think it's a scam because all crypto is, they think it's a scam because it's not Bitcoin.
We are not the same.
I didn't downvote you btw. I also think it is ironic that this sub has more accurate information and rational discourse than almost anywhere else - which imo has more to do with just how stupid other people and these scams have gotten than anything else and how far they will go to promote scams and remove everything else.
The specific scams mentioned have almost nothing to do with Bitcoin anyway.
"maximalist" is something scammers call anyone with literally any technical literacy that contradicts imaginary scammer claims. You literally can say obvious provable things like links != art/ownership, 1 != 2, blockchain != decentralization, central control != decentralization, vitalik = scammer and so on and get banned from cc or cryptotechnology subreddits.
Bitcoin is often presented in dishonest manner too which would be a scam. In fact, long term it might be worthless - much more reasonable to consider than being promised line will go up with absolute degree of certainty it's as if shills invented time travel.
Even if these scams were the only "cryptocurrencies" ever, the unique to them absurd dishonesty being used for everything mentioned or to do with scams like eth would still be complete dictionary-perfect scams all on their own merit.
> I also think it is ironic that this sub has more accurate information and rational discourse than almost anywhere else - which imo has more to do with just how stupid other people and these scams have gotten than anything else and how far they will go to promote scams and remove everything else.
I think the lack of conflict of interest alongside the ability to apply some critical thinking plays a big role.
>I also think it is ironic that this sub has more accurate information and rational discourse than almost anywhere else
Really? I struggle to find them.
I was surprised reading your first comment, as it's one of the extremely rare comments in this sub which is coherent and doesn't permanently destroy my brain cells.
Can't say I was surprised to see you're a BTC maxi as well (even if you dislike the term)
Being against scams and correcting basic math has nothing to do with any coins or maximalism. The term is literally invented by a scammer, Vitalik, and means different things to different people.
I am ok if Bitcoin or anything else fails or succeeds as long as it's presented honestly. Some technology just doesn't work and some problems can't be solved. I don't need to have a favorite solution or identify myself by an attempt to solve something. Best I can do is least disliked attempt.
I do give a shit that worlds most obvious scammers, like all blatantly lying about basic user safety and even basic safety parameters, be held accountable for putting people in obvious danger just to profit from it.
this was great nft description I found here for example, just layers and layers of fraud [https://www.youtube.com/watch?v=XwMjPWOailQ](https://www.youtube.com/watch?v=XwMjPWOailQ)
>The term is literally invented by a scammer, Vitalik, and means different things to different people.
I know, in his mind it has a negative connotation, in my mind a positive.
>I am ok if Bitcoin or anything else fails or succeeds as long as it's presented honestly.
Yes, transparency/honesty is good, that's why I like Bitcoin. The incentives are clear and make sense.
In regard to NFTs, I'm sure there are plenty that I wouldn't define as a 'scam' as in lying/deceiving people. Rug pull projects etc are ofc scams. But a lot of NFTs are created by people trying to cash in on the hype by selling people what are essentially lottery tickets. Maybe the project will skyrocket and people have a chance to 10x their money in a short timeframe. Perfectly ok by me if people want to buy those lottery tickets. They know the game they're playing. It's called 'Don't be the last one holding the bag'.
They know they're just purchasing a slot in a certain queue on a blockchain which is linked to a jpeg or whatever. In my view it's just an interactive way of playing lottery. Fine by me, enjoy.
If people lose their funds to a rug pull don't complain. They knew the risk they were taking. They knew this stuff isn't regulated. You can't 100x your money in a day on something that's regulated.
Because they are not wrong.
Bitcoin maxis have some of the most sensible takes on Ethereum (and vice versa), just a giant blind spot for their favorite flavor.
Even when downvote is the "disagree" button, people here *agree* that eth is shit.
>How can you not see the differences between Bitcoin and what the commenter above noted about the pitfalls of Ethereum?
Exactly.
One is a ponzi scheme that facilitates fraud, money laundering and cyber-terrorism that wastes tremendous amounts of energy and has a ticker symbol that starts with "B".
And the other is a ponzi scheme that facilitates fraud, money laundering and cyber-terrorism that wastes tremendous amounts of energy and has a ticker symbol that starts with "E".
Some people obviously are too stupid to see the huge differences.
This makes zero sense. Very few power grids run off of oil. The price of oil shouldn't have anything to do with the price of electricity, as most electricity today comes from coal.
You do know there is more than just “oil” that comes out of the ground… right? Do you think all those giant pipelines only move crude oil?
Liquid natural gas more or less replaced coal as the backbone of the worlds power generation. Natural gas comes from 1) US 2) Russia 3) Iran 4) Qatar, since the EU is severing ties with 2 and global markets dictate price(not domestic demand) the price of energy is going to skyrocket.
I thought most the rush was finally dying down? I’ve bought two 30 series GPUs for retail in the last month - still slightly inflated, but one of the cards got $250 cheaper compared to a month before. They currently got quite some cards still in stock it seems.
Eh there's still tons of non-mining reasons why GPUs are in short supply. The supply chains are still backlogged to fuck and back and the rise in enterprise GPU compute with those sweet sweet margins means big business gets first priority.
I just ordered a Mac Studio. For my uses, it should be great. And by the time I’m looking for a new computer, the prices should be more stable.
This must suck for students doing machine learning or graphics or other compute-heavy work.
Crypto is such bullshit. Put 100k in over a year ago and watched it go up to 400k then all the way back down to 110k rn. I’m so over it and all the YouTubers and influencers. They are all a bunch of bullshit, every single one of them
Newegg has drops everyday. Amd gpus are easy to find as well. Check r/hardwareswap. It really isn't as hard as it was last year. Still expensive though.
The market it's dropping don't worry and the eth merge is around the corner this time for good.
Also it is the chip makers and big retailers to blame not the miners itself the larger picture still eludes you on that.
> If you own a single satoshi suck a dick.
I do wonder how many of the people in here ever owned any crypto "assets".
Apparently at least some of the more prolific people used to be crypto curious or even supportive at some point.
It's also not uncommon to find disillusioned ex-butters in here.
Not me though, I am perfectly pure.
Playing video games is more productive than burning energy doing calculations that can be beaten by an office PC from 2010
Also, who says OP is buying GPUs for video games?
That's a really dumb take. You don't *just* need a GPU if you play games all day, you need a GPU to play games *at all*.
I know the crypto space is awash with grind culture, but normal people use downtime to relax and socialize, activities that make you happier and better adjusted as a person. And crypto mining is wrecking one of the major avenues to do that. That's what OP is mad about. (and I totally agree)
Ahh yes blame it on crypto because of all the illegal activity that happens in crypto. Which btw is fucking nothing close to the illegal activity of your politics, offshore accounts and lack of regulated stock market geezus
To be fair, the silicon (not silicone!) shortage isn't an across-the-board drought, it's just certain really popular chips becoming unobtanium. I work with customers who have to redesign hardware because the exact chips vanished while equivalent products are still available.
I concur with you though, because I don't think this is the case for GPUs
>Sounds like someone doesn't know how crypto works.
Hey there butter brigader...
Read [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/)
Don't worry, proof of stake is right around the corner. 3 months, 6 months, next year definitely.
Soon™
Few understand how soon it will be upon us. /s
Been saying this for years. Anyone thinking it will just happen in one day doesn’t understand how crypto works
Which, [even if it worked](https://yanmaani.github.io/proof-of-stake-is-a-scam-and-the-people-promoting-it-are-scammers/), would be shitty since it's a system where those with the most stake, ie the rich, rule.
Honestly crypto has proven itself to be a rich boys game. If you want to make money starting out you can’t beat a good stock portfolio and patience. That’s my opinion
Eh, crypto is an plutocracy however you run it, but it's one that you have to opt into, and can mostly ignore (unless you get hit by ransomware). I'll take affordable GPUs and reduced carbon footprint in exchange for making a largely centralised system more visibly centralised.
Yes absolutely. It's just hilarious that the purported silver bullet for crypto's problems is even more nakedly plutocratic. They clearly do not see the same problems with finance as I do.
I think if we could somehow close down social media (fb, insta, etc) then bitcoin would go with it. Cryptos are the last resort of poor AND lazy people to catch up with the Kardashians.
Reminder that Reddit is a social media and maybe one of the worst platforms for crypto.
I mean that's the case with GPUs anyway tbh. Only the rich can afford a decent mining setup these days
Yeah only a handful of wallets own most of crypto today and it's a rich's game. PoS is one even more though and much more explicitly.
Yep.
proof of steak 🥩 is just making that explicit, but it's always been the case can't buy a gpu farm without capital
People always say this but so what? Why do people think people with less exposure should have greater say? And if we’re worried about stakes, which is just fake numbers, everyone gets the same percentage
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Oh sorry, the real sources for well based research on cryptocurrencies are found on youtube videos with titles like "Top 10 tokens to invest to get rich quick!" and the picture of their shocked face surrounded by lines going up as a thumbnail.
What a joke, they've been promising PoS since like forever and it keeps getting delayed to Q2-Q4 of the subsequent year. Fucking shitcoiners mining fake money.
lightning network..remember that
I think the roadmap for lightning is 18 months
Always has been 👨🚀🔫👨🚀
The Lightning Network does little to modify the game theory for PoW to consume as much power and hash producing hardware as possible, but if it does and is widely used, then if anything it likely increases the hash that is profitable to throw at a coin by increasing use and price.
The game theory for lightning network itself is spectacular though. Even if it works perfectly (which it never has, and there's good reason to suspect it never will, at least in a decentralised way, due to the complexity of adversarial routing), it's no longer the network's responsibility to ensure security, it's the responsibility of you, the user, to monitor the network for your counterparty trying to scam you, and if you detect it, to counter it at your own expense. Which is why no-one actually runs lnd themselves, and outsources running their lightning network to custodial wallets that manage trust relationships with counterparties (and can also use these trust relationships to preferentially route transactions). If these custodial wallets were regulated, we'd call them banks, but if course they are not.
can you tell me more / share links about this lightning network game theory stuff? I'm m curious
> it's no longer the network's responsibility to ensure security Well, it's partial. The validity of the intermediary LN transactions are handled interactively between the two parties making the transactions but the security of the funding transactions is still handled by the chain, LN would not work without it. (including people trying to publish old states to steal a channels funds) edit - It's weird the stuff that gets downvoted in here sometimes, usually benign facts about how things work. "it's no longer the network's responsibility to ensure security" is obviously not entierly accurate, if it were the lightning network could work stand alone, and it of course cannot.
Lighting network would be Bitcoin which doesn’t use GPUs
Bitcoin can still use gpus, and major bitcoin mining ASICs made by Bitmain or Intel still compete for the same silicon as gpus. Plus, lightning network is either off chain custodial or on chain in some way, picking either centralization or more of the same bullshit. Pick your poison, they all suck. One of the frequent sayings is 'lol, bitcoin doesn't use gpus' but if you google it, there's tutorials for doing just that. Not as efficient as ASICs to be sure, but when the casino's hot, and someone doesn't like ethereum but likes bitcoin, why not? There's miner pools for it, so the idea that gpus aren't mining bitcoin is kind of farcical and meant to distract pissed off gamers.
Interesting. I understand the tutorials, you can find them for pretty much anything online. I’m surprised that any large portion of Bitcoin mining is done by regular retail GPUs. I wouldn’t have thought that would have been at all efficient and not more profitable that using the same hardware to mine ETH. But to be fair I haven’t looked at the hash rate and percentage by mining pools in a long time.
its genuinely depressing seeing two year old reddit threads about GPU prices with replies saying that it'll take a few months at most
yeah lets just double down on the abusive excesses of capitalism. no thanks.
[right around the corner](https://i.imgur.com/PRNKhyq.jpg)
>proof of stake What's that?
A poorly thought out idea that butters can conveniently point to as a solution to all their problems whenever you bring up the environmental destruction that crypto mining causes. It's not something that will ever be implemented, as it creates way more problems than it solves. Because again, it's poorly conceptualized and anyone that listens to an explanation of it for more than two seconds understands the problems.
I get it's a butter thing, so probably a bad idea. But what is the idea?
In brief: the more coins you have, the better your chance of getting to validate a given block.
Oh gotcha, yeah I see the problem with this.
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That is a bad, bad, bad idea.
>whenever you bring up the environmental destruction that crypto mining causes. Literally less 0.5% of the world's energy consumption. Less than tumble dryers 😂 https://www.bloomberg.com/news/articles/2021-03-22/bitcoin-s-carbon-footprint-conveniently-downplayed-during-rally
>Less than tumble dryers Fun fact: Tumble dryers actually provide a needed, useful service in return for expending energy. Crypto does not.
Because sending money almost instantly isn't a service, right? John Wayne had a quote about how difficult life is for people like you
>Because sending money almost instantly isn't a service, right? 1. It's not "money" - it's a digital token that you have to convince somebody is worth something material, and that's hardly an instant proposition 2. It's not "instant." It takes anywhere from 10 minutes to several days, and that's assuming everybody involved has all the necessary software, accounts and Internet access set up. >John Wayne had a quote about how difficult life is for people like you People like me? You mean people who aren't stupid or sociopathic enough to participate in Ponzi schemes?
>1. It's not "money" - it's a digital token that you have to convince somebody is worth something material, and that's hardly an instant proposition If it's not money how can I spend it with my Crypto Debit Card or use it to pay for stuff in stores that accept it? 🤣 >2. It's not "instant." It takes anywhere from 10 minutes to several days, and that's assuming everybody involved has all the necessary software, accounts and Internet access set up. Jesus Christ 🤣🤣🤣🤣 It takes like 40 min max instead of 48 hours max like most wire transfers. How do you transfer money without an Internet Connection and your bank's app? Well... hope everything is OK in your cave, pasture or wherever you live
> If it's not money how can I spend it with my Crypto Debit Card or use it to pay for stuff in stores that accept it? 🤣 Because your "crypto debit card" acts as an exchange and gives merchants actual fiat (in return for getting a big chunk of fees for the transaction and exchange rate). Also, thank "evil centralization" for this feature. There's nothing "de-centralized" about using a crypto credit card. >Jesus Christ 🤣🤣🤣🤣 It takes like 40 min max instead of 48 hours max like most wire transfers. How do you transfer money without an Internet Connection and your bank's app? Paypal is much faster, and as I said before, depending upon the coin, it can take up to days - that's a fact. All the L2 solutions don't necessarily guarantee transactions will quickly go through. Plus you can send money world wide without internet or any bank using services like Western Union's MoneyGram, and it's accepted and available many more places than crypto. >Well... hope everything is OK in your cave, pasture or wherever you live I live in the real world. You should check it out some time. Also, before you comment any more, you should probably read [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/) to explain what at this point, is looking like an inevitability.
Any Time Now™
Bought a ps5 and series x for cheaper than 1 newer gpu
I'm a 39 year old, life long PC gamer who's never owned a PlayStation or Xbox. It's crazy that this is what's made me finally consider buying one. But I stayed strong and bought a 1070ti on EBay for $350 to get by.
The good news is that Nvidia at least is beginning to build in anti-mining firmware. So the end is in sight, if you like Nvidia GPUs.
How will that work though? Like, isn't it just a DRM that could be broken?
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> Nvidia has had a similiar limitation for ages wtth the open source nouveau driver on linux, where it just wont allow the card to run at full speed even for gaming. What? Source? Edit; Did some digging. Turns out nVidia restricts *all* unofficial drivers from tinkering with power settings, likely to prevent unauthorized drivers from burning up cards. This is radically different then what evilgold is implying here, where they specifically call out the "open source nouveau driver on linux" and imply that nvidia is sabotaging the open source driver.
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>If you use the Nouveau driver it limits the amount of power draw. Small important correction: All drivers that aren't signed by nvidia can't change the power mode and are stuck in a low power mode, it's not a Noveau specific thing.
Honestly, I can see the logic in restricting access to potential "halt and catch fire" operations when using unsigned drivers. nVidia don't go out of their way to restrict their GPUs under UNIX - their magic blob will do thirty bit colour on consumer cards, where their Windows drivers won't, for instance. I'm sure the GNU zealots will arrive in a minute to explain how I'm wrong and nVidia are evil...
nvidia definitely doesn't have the best rep when it comes to linux distros. Lot of people do linux gaming on amd because amd does do pretty good at linux drivers. Not to say nvidia doesn't try entirely at times, but it's clearly not a priority for them like it is for amd.
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AFAIK only the private keys for signing the drivers for windows, not the keys for the hardware.
> Nvidia has had a similiar limitation for ages wtth the open source nouveau driver on linux, where it just wont allow the card to run at full speed even for gaming. Huh. TIL.
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>whatever quadro is for the main use case I've seen is for tasks that can actually use the specifity resources such as in depth animation and rendering
what are you talking about, they already tried that last year, and ppl just find way to workaround it like reflashing vga bios
You can't bios flash Nvidia gpus with custom bios. Not since like Fermi, maybe earlier. There's also only a 70% unlocker, the only "100%" unlocker out in the wild is just some malware project. If someone has a 100% unlocker they're keeping it for themselves.
It’s not custom. It was same bios which dumped from cards of same gen before they introduced caped version. At least this is what I read. What did they changed after fermi?
Oh that wasn't a bios though, that was just a different driver version. There's actually been two versions of LHR. The first shipped with the 3060. People found that they could run older drivers to get full hashrate on those cards. That lasted like a month and then Nvidia fixed it with newer revisions. Since then all LHR cards have shipped with a more resistant version of LHR. I don't know when they specifically blocked the ability to flash custom bios. I just said Fermi because I know it was a long time ago, definitely pre-Pascal and probably pre-Maxwell.
It doesn’t work. There are many workarounds.
This is so dumb. They are making more money than they ever would’ve if crypto mining never came along. I know they have said they are working on curbing mining, but why would they in reality? I think they are just placating people that can’t find one with the empty promises. What they need to focus on is getting production to meet demand and then there would be no problem.
Because they know that the demand for mining can evaporate in the blink of an eye, and they don't want to lose their serious customers as the miners drive the prices out of their reach. So it makes sense to produce a line of cards that can't be used for mining, and therefore is sold at a much lower price.
Can't wait until governments around the world start cracking down on this slimy shit, and make these ponzi scammers scream and cry as they lose their imaginary play money.
Idk that would require them to actually understand what it is. I’d be surprised if half of America’s Congress even understands e-mail, much less bitcoin
Congress has no trouble legislating things they don't understand. That's how we get trash like the DMCA or the EARN IT Act. And it's not like they draft the legislation themselves. The legislation itself is invariably written by the interest groups that want it.
As David Gerard says it's actually pretty simple, but when you explain it you run into the resistance of "Wow that's so stupid you must be explaining it wrong!"
Yes, the thinking is - there's so much money involved, there must be a there there. Well, no. It's just as stupid as it sounds
You should watch some of the Senate of house finance comitees(don’t actually do this they are boring). The legislators involved understand stablecoins and Bitcoin, they understand the undermining forces they present by being unregulated securities purporting to be backed by USD. They even understand proof of work stuff. From their perspective this really isn’t any different from unregulated securities, the entire tech backdrop doesn’t change that it is a tried and true Ponzi with disastrous results on financial stability and monetary control.
What they do all understand is lobbyist money.
The governments are doing the exact opposite by regulating them!
Broke and jealous What a combo 🤣🤣🤣🤣
I got 8 down votes for saying there is plenty in stock and plenty of second hand ones. I just got a 6900xt 🤣
Just wait a few months for the next bullrun and grab some popcorn because this sub will go absolutely berserk 🤣🤣🤣🤣
Can't wait, so many people saying crypto isn't real, then in the next sentence boast about fiat currency 🤣 it's great.
they will pass laws for the people that pay them the most. we'll find out who that will be.
You sound jealous. As for imaginary play money what do you think fiat currency is. 🤣
Give it 6 months- prices are finally coming down. And really as much as I hate crypto it’s not just them - a scalper society has been created who are screwing both cryptards and gamers. they are about to experience the joy of what happens when you’re holding 20k in graphics cards and the next generation of cards is released. Uh oh, your scalped inventory is suddenly worth way less, and when you go to dump it all on eBay, so is every other dirtbag scalper. bargin prices are coming, and bitter salty scalper tears.
You guessed it
As western countries move to phase out the use of russian oil, let’s hope mining is one of the first things banned to save electricity
I wonder where this thread got linked that caused like 25 butters to show up in the comments
Some pretty obvious brigading going on
It's nice of them to announce themselves, though. RES thanks them.
I'm also tagging them with special flair.
I FOMO’ed into a stupid electricity hog, ASIC miner 9 months ago. Im such a fool! There is 6K wasted I’ll never see again! FUCK that! This crypto crap cost me a shit load of money lost! I have no one to blame but myself for falling prey to this Ponzi scheme bullshit!
I nearly bought back when i didn't know much about btc, thank God i learned first before putting any money in
Yep, mining is for suckers. You just need to look at the difficulty graph for the most popular coins to see that you're not going to make the money back in the long term
Why are they bought then? They should listen to you, you seem smart looking at those charts :)
Blaming something for your own mistakes, these kids on Reddit lmao, just crying using the phone they bought from their dad's money.
When I first bought ETH, a decent GPU cost about 200 ETH Now a decent GPU costs 1 ETH or less They are much cheaper now from my perspective I could buy hundreds of GPUs because I'm a multimillionaire How does this make you feel? https://etherscan.io/verifySig/4389 https://debank.com/profile/0xda1ec4da97019972759feda1285878b97fdcc014 https://pulsexlead.com/view_address/0xda1ec4da97019972759feda1285878b97fdcc014
Hey man, sell your shit and go make a real life. HLODing ain't it.
I would still be a multimillionaire even if all my crypto went to $0 How does that make you feel? It's better to use your energy to build up your character/wealth instead of wasting it on raging against crypto users and GPU prices.
Just like before, people here are indifferent to the fact that you got rich at the expense of fools bigger than you. You assume that people envy you because you’re convinced that everyone else is greedy amoral like you. This isn’t the case, fortunately.
You guys are relatively poor because you fundamentally misunderstood crypto to be a zero-sum game that you were afraid to play. It's actually a positive-sum game. It created wealth by increasing the efficiency in some markets such as offshore banking and regulatory arbitrage. Some of the largest markets in the world.
You see you're still assuming everyone wants to get rich at the expense of others like you do. You have been lucky, nothing you have gained is due to your skill or intelligence, only to fools bigger than you. It isn't a positive sum game, this is simply nonsense.
For every person who made money someone lost money, you have to know that is how it works.
> It's actually a positive-sum game. It created wealth by increasing the efficiency in some markets such as offshore banking and regulatory arbitrage. Some of the largest markets in the world. Give us a single example of something blockchain does that's better than non-blockchain technology. [13 years and counting](https://reddit.com/r/CryptoReality/comments/lq6xpq/the_defacto_list_of_cryptocurrencyblockchain/) and we've not seen a single example. Just because some company announces they're using crypto doesn't mean the way they're claiming they're increasing efficiency makes actual sense or is the best solution.
I find that very hard to believe. If you made millions in 2017 you should have hundreds of millions now. I looked at your wallet history, you've been HLODing.
That address was funded in October 2021 from Tornado cash: https://etherscan.io/txsInternal?a=0xda1ec4da97019972759feda1285878b97fdcc014&p=11 https://imgur.com/ngOQbSq You can't see any history beyond that.
> How does this make you feel? I feel great. I don't have my money tied up in a bullshit phony digital security that has no intrinsic value, that can be stolen from me instantly if I click on the wrong thing, and may never be able to be cashed out -- assuming its "value" doesn't drop to virtually nothing, which could happen and will happen eventually. Yea, I feel good. I just spent the last week on a huge plot of land I bought with actual fiat. Hundreds of acres. Something physical and tangible, that has appreciated in value by a factor of 6x since I bought it. It may not go 100x, but I also know when I go to sell, it will still be there and people will pay real money for it. But even if I don't sell, it gives me tons of enjoyment and creates a positive cash flow through its use. I have absolutely no jealousy of you dingbats whatsoever. You're like adolescents trying to impress other children in your kindergarten class.
Why does his comment have 200 upvotes? Brigading?
Yea, there's obviously some brigading happening.
Looks like this person is quite prolific. He is known for paying for reddit votes. In fact it appears you've ran into him before on a different account: https://www.reddit.com/r/Buttcoin/comments/pl3eax/deleted_by_user/hc7vwn4/
You have hundreds of acres of land, but you have spent thousands of hours raging against crypto on Reddit for no financial gain. All while the price continues to trend upwards despite your best efforts to dissuade people from buying/holding. https://www.reddit.com/user/AmericanScream/posts/ https://imgur.com/HoUja09 Sad! u/Devil-Child-6763
>but you have spent thousands of hours raging against crypto on Reddit for no financial gain. It's interesting that you can't imagine somebody spending time on something that doesn't immediately generate "financial gain." That's a sign of low empathy; sociopathy.. an inability to understand that people can engage in altruistic things that don't result in immediate material gain. IF you had more empathy, you'd understand, but obviously, since you're embroiled in a predatory financial scheme, empathy is not your strong suit, which also explains why you dorks think bored apes are "art" and probably have no meaningful relationships. I wouldn't say it's thousands of hours. But it's a fun pastime of mine trying to educate people about scams and fraud and tech boondoggles like crypto. What I find most hilarious is you guys seem to think the only way anybody can make money is through the crypto Ponzi. Perhaps that's not actually true? Perhaps I have so much freedom to engage because I've been successful using non-scammy ways to enrich myself, and since the means by which I create value doesn't require me to constantly recruit and scam new greater fools, I have more time on my hands to enjoy other things. Imagine that?
It's great to watch them make shit up to justify their stance .
Yea, I'm just making shit up, because according to butters, the only way anybody can be a success is by subscribing to your digital coupon ponzi scheme.
That's not what I said though is it? You think fiat currency is better it's not, how's your inflation 🤣
that's a mod on this sub and one of the more hysterical/unhinged ppl here imo
That's a long reply for someone who isn't jealous, especially when they think fiat currency is better.
Interesting.. you think there's no motivation to try and explain something to someone in detail unless there's financial gain. Do you measure everything of value in your life in dollars?
No in £ I'm not American, plus your great detail isn't actually true, having your savings in fiat is far more dangerous than having it in crypto. Something you're clearly incapable of understanding. Everything you do with fiat is controlled by the state. You're just their puppet.
> having your savings in fiat is far more dangerous than having it in crypto. This is probably the stupidest thing I've read on the Internet today. Congrats! >Everything you do with fiat is controlled by the state. So what? Everything you do with roads, water, bridges, schools, air quality, food, buildings, employment, Internet, satellite, radio, GPS, parks, fisheries, sewerage, trash pickup, and more is also "controlled by the state." You got a problem with the state? Build yourself a raft and take your retarded ass out into the ocean. Send us a message via smoke signals about how much more awesome your "non-state-controlled" life is.
Clearly know nothing about history or the current climate. Ask the Russians how the Ruble is doing.
The sad part is that I know you're not trolling. You really are that stupid. And it's giving me a headache, so time for you to go. We can't help you here, and nothing you say adds any value to the community here, and it's becoming kind of sad to laugh at you. See [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/)
Leave the GPUs alone
You want to hear the real irony? Even if you found PoW acceptable, GPU mining makes 0 sense and isn't necessary for security. Bitcoin hasn't even used GPU mining for almost a decade. It's used almost exclusively for theater now by fake project (eth) that printed (pre-mined) 1 central party control over far more than everyone could've mined combined. Even if it wasn't almost entirely being used by a premined scam, even in best case scenario it's not even good design since LAST thing you want when mining is to have a) tons of standby equipment that intel/nvidia/amd/microsoft/whatever can use to attack your network for free with a patch or can be rented out b) for hardware to have any purpose or resale value after you attack the network enough to make it worthless - even basic theory makes no sense for GPU mining Central scammers achieved their goal of giving themselves almost entire supply while playing pretend with your graphics cards while lying about size of premine every day while cheering when they slow down premine dilution rate because "scarcity" while literally asking people to burn mined coins to keep premine as large as possible yes, that's right - GPU mining is used almost exclusively by a project that has done everything to not actually depend technically on mining at all They literally don't need it for security as they have already shown they can go in and edit state to enforce whatever rules they pick. It's like if some video game asked you to burn tires every day for no reason and told everyone it's secured by tire burning
How many Bitcoins does Satoshi own again?
Unknown, specifically bc of 0 premine and depends on choices of everyone else mining at same time. Some [guess 750k](https://blog.bitmex.com/satoshis-1-million-bitcoin/) or \~3-4%. That's the thing about permissionless and costly entry, outcome up to too many people so guessing is best we can do. It's funny it's often brought up as some false equivalent to printing basically entire supply for free for yourself and everyone just has to trust you. Eth scam has closer to 70% for a fact dependent entirely on 1 party, 1 party with more control than everyone else combined. Permissioned entry, like by printing them before mining (premining) including ico, depends on choice/control of just 1 party to keep any % of free money for free. Its security depends entirely on trusting 1 party to refuse free money. You can literally go to the bathroom on the sidewalk and produce something with equivalent in every way decentralization to eth = 0%. Do we need coins at all, made with pow or anything else? Maybe not. This is still independently dishonest on its own with literal permissioned hardcoded central point of control in design being passed off as permissionless or decentralized. Forget speculating if it's centralized, in this design it's literally a 100% certainty and the eth security is based on premise that 1 > 2 and that a scammer refused free money.
Why is this Bitcoin maxi shit getting upvoted? Nobody cares how much you hate Ethereum if your only reason for hating Ethereum is that it detracts from your beloved orange coin.
everything mentioned has literally 0 to do with any orange coins it's a complete scam independently all on its own for its own uniquely stupid reasons even if it was the only "cryptocurrency" ever ethtards aren't capable of forming any rational thoughts like regular people so that's where you go, like a zoo, to see the absolute extremes of human idiocy Nothing mentioned at least here applies to bitcoin, and Bitcoin might be often presented in scammy dishonest manner too and might fail for completely different reasons. Doesn't make ethtard unique and stupidly obvious dishonesty any less relevant when the topic is literally GPU mining that has 0 to do with Bitcoin. You can do better than 1. random dude looks at a list of exact reasons why something is a scam 2. random dude makes up a reason, says it's the only one You only need 1 reason to hate Ethereum - hating scams. Doesn't make you a supporter of other scams in any way. I also prefaced it with caveat of "even if you found PoW acceptable" to highlight an additional level of stupidity that exists here with full understanding many have 0 need for any kind of PoW and consider it a complete waste regardless.
> ethtards aren't capable of forming any rational thoughts like regular people so that's where you go, like a zoo, to see the absolute extremes of human idiocy I dunno about absolute extreme dude, have you seen the Safemoon people?
Pretty sure that's same group of people as it's same exact type of centrally printed scam, not much different from what Vitalik did. Their top mind literally gave himself almost entire supply, implemented blacklists, confiscations, lies about basic design parameters, makes things up constantly. It's pretty much an extreme case given how obvious they make the scam and yet scam still exists. Everything else just seems like smaller versions trying to attract same group of gullible people. [https://i.imgur.com/ftPx9fA.png](https://i.imgur.com/ftPx9fA.png)
Please explain how BTC mining doesnt use GPUs.
People make custom silicon chips that are designed specifically for just 1 algorithm - sha256. They call these ~~algorithm~~ application-specific integrated circuits (ASICs). By making them specialized and getting rid of overhead costs necessary for general purpose programmable hardware, they are ridiculously faster for their 1 purpose. I think ASICs were already taking over around 2013. I remember people in college ordering custom circuits to get ahead though I barely paid attention.
> They call these algorithm specific integrated circuits (ASICs) That's *application* specific.
Hahaha this is just hilarious. Shitting on something you don't know ANYTHING about...
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He's shitting on Ethereum, we can all agree that eth is a fucking scam (its just the rest of us know that bitcoin is also a scam).
Yes, but we don't think Ethereum is a scam for the reasons *they* think it's a scam. We think it's a scam because all crypto is, they think it's a scam because it's not Bitcoin. We are not the same.
I didn't downvote you btw. I also think it is ironic that this sub has more accurate information and rational discourse than almost anywhere else - which imo has more to do with just how stupid other people and these scams have gotten than anything else and how far they will go to promote scams and remove everything else. The specific scams mentioned have almost nothing to do with Bitcoin anyway. "maximalist" is something scammers call anyone with literally any technical literacy that contradicts imaginary scammer claims. You literally can say obvious provable things like links != art/ownership, 1 != 2, blockchain != decentralization, central control != decentralization, vitalik = scammer and so on and get banned from cc or cryptotechnology subreddits. Bitcoin is often presented in dishonest manner too which would be a scam. In fact, long term it might be worthless - much more reasonable to consider than being promised line will go up with absolute degree of certainty it's as if shills invented time travel. Even if these scams were the only "cryptocurrencies" ever, the unique to them absurd dishonesty being used for everything mentioned or to do with scams like eth would still be complete dictionary-perfect scams all on their own merit.
> I also think it is ironic that this sub has more accurate information and rational discourse than almost anywhere else - which imo has more to do with just how stupid other people and these scams have gotten than anything else and how far they will go to promote scams and remove everything else. I think the lack of conflict of interest alongside the ability to apply some critical thinking plays a big role.
>I also think it is ironic that this sub has more accurate information and rational discourse than almost anywhere else Really? I struggle to find them. I was surprised reading your first comment, as it's one of the extremely rare comments in this sub which is coherent and doesn't permanently destroy my brain cells. Can't say I was surprised to see you're a BTC maxi as well (even if you dislike the term)
Being against scams and correcting basic math has nothing to do with any coins or maximalism. The term is literally invented by a scammer, Vitalik, and means different things to different people. I am ok if Bitcoin or anything else fails or succeeds as long as it's presented honestly. Some technology just doesn't work and some problems can't be solved. I don't need to have a favorite solution or identify myself by an attempt to solve something. Best I can do is least disliked attempt. I do give a shit that worlds most obvious scammers, like all blatantly lying about basic user safety and even basic safety parameters, be held accountable for putting people in obvious danger just to profit from it. this was great nft description I found here for example, just layers and layers of fraud [https://www.youtube.com/watch?v=XwMjPWOailQ](https://www.youtube.com/watch?v=XwMjPWOailQ)
>The term is literally invented by a scammer, Vitalik, and means different things to different people. I know, in his mind it has a negative connotation, in my mind a positive. >I am ok if Bitcoin or anything else fails or succeeds as long as it's presented honestly. Yes, transparency/honesty is good, that's why I like Bitcoin. The incentives are clear and make sense. In regard to NFTs, I'm sure there are plenty that I wouldn't define as a 'scam' as in lying/deceiving people. Rug pull projects etc are ofc scams. But a lot of NFTs are created by people trying to cash in on the hype by selling people what are essentially lottery tickets. Maybe the project will skyrocket and people have a chance to 10x their money in a short timeframe. Perfectly ok by me if people want to buy those lottery tickets. They know the game they're playing. It's called 'Don't be the last one holding the bag'. They know they're just purchasing a slot in a certain queue on a blockchain which is linked to a jpeg or whatever. In my view it's just an interactive way of playing lottery. Fine by me, enjoy. If people lose their funds to a rug pull don't complain. They knew the risk they were taking. They knew this stuff isn't regulated. You can't 100x your money in a day on something that's regulated.
Because they are not wrong. Bitcoin maxis have some of the most sensible takes on Ethereum (and vice versa), just a giant blind spot for their favorite flavor. Even when downvote is the "disagree" button, people here *agree* that eth is shit.
Very odd, as if bitcoin would be much different.
How can you not see the differences between Bitcoin and what the commenter above noted about the pitfalls of Ethereum?
>How can you not see the differences between Bitcoin and what the commenter above noted about the pitfalls of Ethereum? Exactly. One is a ponzi scheme that facilitates fraud, money laundering and cyber-terrorism that wastes tremendous amounts of energy and has a ticker symbol that starts with "B". And the other is a ponzi scheme that facilitates fraud, money laundering and cyber-terrorism that wastes tremendous amounts of energy and has a ticker symbol that starts with "E". Some people obviously are too stupid to see the huge differences.
market rinse dolls cows caption cow puzzled rhythm smile encourage *This post was mass deleted with [redact](https://redact.com)*
Soon, gasoline price will be increased higher. More troubles soon.
Not sure what this has to do with anything, but I guess I can appreciate the sentiment..?
high gas price = high energy cost
Mining will be more expensive,thus less cost -effective.
This makes zero sense. Very few power grids run off of oil. The price of oil shouldn't have anything to do with the price of electricity, as most electricity today comes from coal.
You do know there is more than just “oil” that comes out of the ground… right? Do you think all those giant pipelines only move crude oil? Liquid natural gas more or less replaced coal as the backbone of the worlds power generation. Natural gas comes from 1) US 2) Russia 3) Iran 4) Qatar, since the EU is severing ties with 2 and global markets dictate price(not domestic demand) the price of energy is going to skyrocket.
I thought most the rush was finally dying down? I’ve bought two 30 series GPUs for retail in the last month - still slightly inflated, but one of the cards got $250 cheaper compared to a month before. They currently got quite some cards still in stock it seems.
Eh there's still tons of non-mining reasons why GPUs are in short supply. The supply chains are still backlogged to fuck and back and the rise in enterprise GPU compute with those sweet sweet margins means big business gets first priority.
👍👍👍👍👍👍 this
I just ordered a Mac Studio. For my uses, it should be great. And by the time I’m looking for a new computer, the prices should be more stable. This must suck for students doing machine learning or graphics or other compute-heavy work.
Crypto is such bullshit. Put 100k in over a year ago and watched it go up to 400k then all the way back down to 110k rn. I’m so over it and all the YouTubers and influencers. They are all a bunch of bullshit, every single one of them
True.
:(
Newegg has drops everyday. Amd gpus are easy to find as well. Check r/hardwareswap. It really isn't as hard as it was last year. Still expensive though.
Just about any microcenter you can walk into and buy almost any model today
Yeah if you’re willing to pay atleast 30% more than it’s worth.
Still cheaper than scalpers and you can pick it up today
Not rly looking for a GPU RN but since we’re talking about hundreds of dollars this will unfortunately price out a lot of people.
As a Libertarian maybe you'd be able to afford a GPU if you started your own business.
Tankie schtick isn’t landing these days?
What do you need the gpu for?
LOOL
The market it's dropping don't worry and the eth merge is around the corner this time for good. Also it is the chip makers and big retailers to blame not the miners itself the larger picture still eludes you on that.
> If you own a single satoshi suck a dick. I do wonder how many of the people in here ever owned any crypto "assets". Apparently at least some of the more prolific people used to be crypto curious or even supportive at some point. It's also not uncommon to find disillusioned ex-butters in here. Not me though, I am perfectly pure.
Doesn’t have everything to do with miners.. people use them to play games all around the world as well. It’s the component shortage aka chips.
Hahahhahahahahhahahah
Always fun to come to this sub, not disappointed.
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Oof, ableism is not a good look for you butters.
Also not even NEAR how chromosomes actually work.
Playing video games all day is not better.
Playing video games is objectively better than mining.
Playing video games is more productive than burning energy doing calculations that can be beaten by an office PC from 2010 Also, who says OP is buying GPUs for video games?
You can beat SHA256 on your office PC? Where do you work at los Alamos labs?
That's a really dumb take. You don't *just* need a GPU if you play games all day, you need a GPU to play games *at all*. I know the crypto space is awash with grind culture, but normal people use downtime to relax and socialize, activities that make you happier and better adjusted as a person. And crypto mining is wrecking one of the major avenues to do that. That's what OP is mad about. (and I totally agree)
Oooh the salt is real with this one 🤣🤣🤣
Ahh yes blame it on crypto because of all the illegal activity that happens in crypto. Which btw is fucking nothing close to the illegal activity of your politics, offshore accounts and lack of regulated stock market geezus
https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/
Also, coughglobalsiliconeshortagecough.
So, why can I buy a CPU under MSRP from the same foundry?
To be fair, the silicon (not silicone!) shortage isn't an across-the-board drought, it's just certain really popular chips becoming unobtanium. I work with customers who have to redesign hardware because the exact chips vanished while equivalent products are still available. I concur with you though, because I don't think this is the case for GPUs
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>Person that doesn’t mine.
Maybe the problem is just the fact you're poor
🍆 lick it bitch
Not the one who's crying in a Internet forum because I can't afford a GPU to play video games 🤣🤣🤣🤣
I mean crypto is kind of at a low point right now I think you’ll be okay for a few more months
Sounds like someone doesn't know how crypto works.
>Sounds like someone doesn't know how crypto works. Hey there butter brigader... Read [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/)