Hackaday bitcoin news
So on one hand, since we as a society are okay with banks existing and turning profits for bankers, maybe we should be okay with cryptocurrency miners. A large component of society is not okay with banks existing. Constant engineered booms and crashes do not encourage society to engage in active work and instead only concentrate wealth and power in the hands of those who accumulate passive income.
This would not be such a problem if banks were solvent but their profit model depends on insolvency and bailouts when, not if, it becomes unsustainable.
As we know from Marxist theory- socialism is the intermediate condition between the fall of capitalism and the rise of communism. Socialist economic systems can be divided into non-market and market forms. Non-market socialism involves the substitution of factor markets and money, with engineering and technical criteria, based on calculation performed in-kind, thereby producing an economic mechanism that functions according to different economic laws from those of capitalism.
There is no particular reason you need to use a bank. They have poor yields on savings accounts, and you can get much higher returns by investing the money yourself. If you are concerned with loosing your savings, store it in a tangible manner paper money, gold, silver, bond certificates, or other transferable or trade-able merchandise in a secure location.
None of these cards will ever see a game in their life and many gamers on a tight budget have been forced to settle with less in regards of Graphics power as Miners are buying so many of the mid to high-range GPUs that there is simply not enough supply to answer demand causing prices to go up a LOT. Both AMD and Nvidia are not happy about it as right now these sales are not helping them Suppliers and retailers are benefiting from the markups, Not them nor the gaming industry.
No it is the opposite!! Ive been wanting to replace my older GPU and i am expected to pay hundreds more because of greedy miners descending on any supply of GPU like Locusts causing suppliers and retailers to drive up the prices to the extreme. Those new Vega64 for example?? I am pretty much pleased with your good work. You put really very helpful information. I pretty much think the average user is locked out of Bitcoin mining now.
You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. By using our website and services, you expressly agree to the placement of our performance, functionality and advertising cookies. If a fiat currency falls to zero, its generally a turd sandwich politically, so people try to avoid this. And bitcoin also needs an electrical output equivalent to a small country to sustain all the calculations which will probably increase year on year as the list of numbers gets longer and longer.
SHA hashes…maybe some sort of security or on the other hand, penetration of security… setup? Only if your password is double sha hashed and follows the bitcoin input structure. Other than that the ASiC is useless. Each new generation obsoletes a previous one by increasing complexity and efficiency. Many ASIC miners are underwater without super cheap or free electricity. Bitmain tried just this past week to dump a bunch of old S7 miners renamed. They will likely never make more value than they waste electricity even in China.
If BTC drops much more even the S9 will be hardly profitable. Only if you only bothered to dip your toes in it, and only think bitcoin exists. Most cryptocurrencies are pretty much exclusively mined on desktop computers, and all but bitcoin is profitable to mine in desktops. Bitcoin is just the market baseline. Most recent cryptocurrencies focus memory usage else than raw computing power, so we get limited to memory speeds, and memory costs. Hype, scams, and drugs, are the three main uses for Bitcoin.
Old scams are finding new homes with the cyber-rubes of the 21st Century. Once the bubble pops, who knows? Sell them off, then find some new meme to invent a currency after, why not? ASIC is too fast for desktop memory; the memory would be the bottleneck.
Could you manufacture faster memory? CPU-only systems encourage wide distribution of mining activity, because anybody can do it; ASIC systems encourage concentration of mining among people who have the capital to buy the latest miners which let them make more money faster, and spend it on the next generation of ASICs, etc.
I wonder if it would be profitable for someone in an area that gets a lot of sun to hook up some of these to a bank of solar panels and mine bitcoin using solar power. Or would it take too long for the miners even in a really sunny place to mine enough coin to offset the costs of the solar install? Even if you could get the device for free, you cannot make any profit when electricity is not free.
Solar Power is not an option. But a more approachable task for you may be the possibility of mining using minimal hardware. Part of this is the timeless pursuit of answering the joke question: Is it a worthwhile punt at a prize for a minimal investment? He gives us a rundown of some of the statistics involved, and comes away with the conclusion that it is something like a not-very-good lottery ticket.
The ESP performs hashes per second while the entire Bitcoin community manages about 1. This he calculates gives him a 1 in 10 16 chance of mining a block every ten minutes, which for the tiny cost of an ESP and its relatively frugal power budget is a chance he sees as worth taking. So far he has implemented the hashing algorithm and verified it against a known hash on an already-mined block.
The ever-prolific [Ken Shirriff] has tried it on an IBM mainframe and a Xerox Alto , and you can of course do it the old-fashioned way. Send to an exchange, sell it, withdraw the money, be happy. Some online sites even allow you to pay with bitcoin directly. Spending less will not be profitable, because the transfer fee around USD 25 at this moment will eat most of the money.
Or you convert it to Litecoin, Dash, Ripple, and pay using any gateway accepting them. Correct — in its current state, Bitcoin works great for big purchases, not so well for small purchases.