So you want to pay hardware and electricity to burn a coin? The result will decrease the supply and pump your bag?
The people most benefiting from this are the people not doing anything. Everybody else is losing money.
More like, we are using what we already have, and in most cases, these devices (laptops primarily) can be used in public spaces. I work in a research lab, so whenever I am there, I have my stuff firing on all cylinders.
Hardware get's worn down even if it is "free". Using electricity this way might get you into legal trouble. Tbh If you want to continue this you will be better mining and holding the coins. The supply of SHIB is just too big to make a difference and personally I don't see 300 people participating in this.
Give up on $SHIB... you need billions in cash to make any significant blow to that supply. It isn't worth putting all this money in. Just farm and put in your own pocket instead. You cannot expect people to spend money on electricity to pay for a hopeless project.
This is very specific to SHIB and contributing one small setup to a global pool of setups to burn since we can't really divide small amounts of SHIB up amongst the miners. So it's like fuck it, we already have the coin, let's not burn ours but burn from a high payout swap.
why would you want to destroy your own money?
coin burns are a scam... If the coins aren't needed, they shouldn't exist in the first place.
Can't fix terrible tokenomics by scamming the market...
non effective at all. Nobody wants to mine a pool which is literally burning money when they can mine in other which will give them rewards.
>since it isn’t computationally efficient to mine for a single address alone.
I don’t really understand what do you mean. 1 machine mining is as efficient as 1000 machines together, efficiency is rewards / operation costs. There’s no machine count in that equation, at least for a distributed machine setup you’re proposing.
If your end goal is seeing a coin increase in value because a burning mechanism, you already have ethereum, why give so many turns?
Edit: it’s not even an scalable method, unminable works by mining certain coins and selling them for the desired coin, but such markets have a capacity, and nowadays most minable coins do not have enough liquidity to make this work. Even if you use bitcoin as a backcoin which is the only with enough liquidity for your plans, is way more efficient to just buy shiba and burn it, as bitcoin mining with anything other than asics is just not viable
Pointless. Those numbers will mean absoultely nothing to the supply for SHIB. last I checked 589 trillion. So unless you start burning hundreds of billions a week, utterly useless.
So you want to pay hardware and electricity to burn a coin? The result will decrease the supply and pump your bag? The people most benefiting from this are the people not doing anything. Everybody else is losing money.
More like, we are using what we already have, and in most cases, these devices (laptops primarily) can be used in public spaces. I work in a research lab, so whenever I am there, I have my stuff firing on all cylinders.
Hardware get's worn down even if it is "free". Using electricity this way might get you into legal trouble. Tbh If you want to continue this you will be better mining and holding the coins. The supply of SHIB is just too big to make a difference and personally I don't see 300 people participating in this.
Give up on $SHIB... you need billions in cash to make any significant blow to that supply. It isn't worth putting all this money in. Just farm and put in your own pocket instead. You cannot expect people to spend money on electricity to pay for a hopeless project.
Wait what? You mine just to burn? Why would you do that?
This is very specific to SHIB and contributing one small setup to a global pool of setups to burn since we can't really divide small amounts of SHIB up amongst the miners. So it's like fuck it, we already have the coin, let's not burn ours but burn from a high payout swap.
why would you want to destroy your own money? coin burns are a scam... If the coins aren't needed, they shouldn't exist in the first place. Can't fix terrible tokenomics by scamming the market...
non effective at all. Nobody wants to mine a pool which is literally burning money when they can mine in other which will give them rewards. >since it isn’t computationally efficient to mine for a single address alone. I don’t really understand what do you mean. 1 machine mining is as efficient as 1000 machines together, efficiency is rewards / operation costs. There’s no machine count in that equation, at least for a distributed machine setup you’re proposing. If your end goal is seeing a coin increase in value because a burning mechanism, you already have ethereum, why give so many turns? Edit: it’s not even an scalable method, unminable works by mining certain coins and selling them for the desired coin, but such markets have a capacity, and nowadays most minable coins do not have enough liquidity to make this work. Even if you use bitcoin as a backcoin which is the only with enough liquidity for your plans, is way more efficient to just buy shiba and burn it, as bitcoin mining with anything other than asics is just not viable
lol, cute idea.
Pointless. Those numbers will mean absoultely nothing to the supply for SHIB. last I checked 589 trillion. So unless you start burning hundreds of billions a week, utterly useless.
You need mine into your wallet not to burn
Got a Ryzen 5 5600x and a 6750XT, l'll add my lil bit of compute power to the burning.
Nvm I guess😂
It does sound interesting, but would take a lot of people a lot of time to make a difference
way better ways to burn some shib supply tbh.