The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[Harry_Wild]

Only a total dummy would leave anything of value sitting in their Metamask wallet.

Oh! No nothing about crypto at all!

 

[VirtualLarry]

The crypto collapse began suddenly for him.

Crypto big money! No Whammies!

 

[beginner99]

Only a total dummy would leave anything of value sitting in their Metamask wallet.

Exactly but it is also the reason we are so far away from mass adoption. Just too easy to scam/hack the technically clueless.

Only a dummy doesn't disable or outright remove metamask after usage. even the most versed people can have a bad day and click on a wrong link.

 

[Markfw]

Only a total dummy would leave anything of value sitting in their Metamask wallet.

And anybody who is a miner is smart ?

 

[ultimatebob]

And anybody who is a miner is smart ?

I don't know about "smart"... but those folks who mined a bunch of Bitcoin back in 2013 and held onto it sure got lucky!

 

[VirtualLarry]

And anybody who is a miner is smart ?

"Smart" enough to get GPUs when no-one else seems to be able to...

 

[Markfw]

"Smart" enough to get GPUs when no-one else seems to be able to...

I have 3, at MSRP no less. 3070,3070TI and 3080TI.

And buying video cards when you don't care what the price is, is what they do, that does not take brains.

 

[VirtualLarry]

And buying video cards when you don't care what the price is, is what they do, that does not take brains.

Well, be sure to thank "those stupid newbie miners with FOMO", when you buy up their deeply-discounted RTX 3090 cards, that they are selling, because they went all-in without considering ETH 2.0 / The Merge or their ROI periods, and bought a whole rig worth that only half-way paid for itself, and they have credit card bills due for them.

Me, I try pretty strongly not to over-pay. It's hard, though, when even Newegg is kinda scalping "new retail" cards.

 

[Markfw]

Well, be sure to thank "those stupid newbie miners with FOMO", when you buy up their deeply-discounted RTX 3090 cards, that they are selling, because they went all-in without considering ETH 2.0 / The Merge or their ROI periods, and bought a whole rig worth that only half-way paid for itself, and they have credit card bills due for them.

Me, I try pretty strongly not to over-pay. It's hard, though, when even Newegg is kinda scalping "new retail" cards.

Well, first, any cards they would be selling are used VERY hard, and may die at any time, so they better be cheap. Second, they are already paid off of their credit cards from mining I bet.

Lastly, the 3 I got are all EVGA from the newegg shuffle, all at MSRP. EVGA must have a rule.

 

[ultimatebob]

Well, first, any cards they would be selling are used VERY hard, and may die at any time, so they better be cheap. Second, they are already paid off of their credit cards from mining I bet.

Lastly, the 3 I got are all EVGA from the newegg shuffle, all at MSRP. EVGA must have a rule.

"MSRP" on Newegg for 3080/3090 cards is insane, though. They basically cut out the scalpers by charging scalper prices themselves.

 

[Markfw]

"MSRP" on Newegg for 3080/3090 cards is insane, though. They basically cut out the scalpers by charging scalper prices themselves.

Not on EVGA. I got a 3080TI for $1430, MSRP.
12G-P5-3967-KR

 

[beginner99]

Well, first, any cards they would be selling are used VERY hard, and may die at any time, so they better be cheap. Second, they are already paid off of their credit cards from mining I bet.

Miners actually take care of the cards and usually undervolt. The only thing that might break are the fans but you know that just as well as you know that a chip doesn't break just by using it within spec.
I would be much more weary to get one from some random modder or gamer that might have overclocked it and didn't care about longevity.

 

[drnickriviera]

Didn't bother to watch the whole thing as he didn't seem to know what happened. How did the coins get transferred from plant finance to the wallet? Would be nice if metamask timed out, but it does have a lock button to manually log out.

 

[Mopetar]

Well, first, any cards they would be selling are used VERY hard, and may die at any time, so they better be cheap. Second, they are already paid off of their credit cards from mining I bet.

Depends on what they were being used to mine. If it's ETH then they were probably run with an under-volt or clock-limited since they're going to be memory bound. Of course someone might have tried to OC the memory at the same time and wear through that.

But since most technology follows the standard bathtub curve for failure rate, you might paradoxically be better off buying a used mining card since the majority of early failing cards were already found by the miners themselves.

If you're buying from some complete donkey that might not take proper care with the shipping and damage the card that way, but I don't know if that's any more of an actual risk when buying from a miner than anyone else.

 

[Fanatical Meat]

Didn't bother to watch the whole thing as he didn't seem to know what happened. How did the coins get transferred from plant finance to the wallet? Would be nice if metamask timed out, but it does have a lock button to manually log out.

yeah I read something last year where a guy tested cards used for mining andif I remember correctly they all performed to spec more or less. I do believe they were slightly more noisy theory was 24/7 running wore the fans down a bit.

 

[DrMrLordX]

I do believe they were slightly more noisy theory was 24/7 running wore the fans down a bit.

Not really an issue if you're going to buy a used 3090 or 6900XT and put a waterblock on it.

 

[VirtualLarry]

Money has never felt more fake

The market feels like a bubble. Does it matter?

www.vox.com

Vox on Crypto boom/bust and NFTs and "Casino Capitalism".

 

[ozzy702]

Depends on what they were being used to mine. If it's ETH then they were probably run with an under-volt or clock-limited since they're going to be memory bound. Of course someone might have tried to OC the memory at the same time and wear through that.

But since most technology follows the standard bathtub curve for failure rate, you might paradoxically be better off buying a used mining card since the majority of early failing cards were already found by the miners themselves.

If you're buying from some complete donkey that might not take proper care with the shipping and damage the card that way, but I don't know if that's any more of an actual risk when buying from a miner than anyone else.

Yup. Low voltage, low clocks, memory OC. Up until recently I had a 6x reference 480 rig from July 2016 still going and sold the rig because I was moving. I still have some 580s going from May 2017. Only thing I've done to them is replaced fans once and thermal paste once. Still chugging along no problem. I sold a bunch of 1070s and 1080s to friends in 2019 after mining on them for years and they're still gaming on them no problem. As long as low power usage and adequate cooling is involved GPUs can do a remarkable amount of output reliably.

 

[ultimatebob]

This just became my favorite crypto Tweet of the month:

It's NSFW, so I'm going to spoiler tag this one...

Spoiler

https://twitter.com/x/status/1478022085737803776

"Planet-incinerating Ponzi grifters"... that's catchy!

 

[AdamK47]

"Planet-incinerating Ponzi grifters"

Love that guy

 

[beginner99]

This just became my favorite crypto Tweet of the month:

It's NSFW, so I'm going to spoiler tag this one...

Spoiler

https://twitter.com/x/status/1478022085737803776

"Planet-incinerating Ponzi grifters"... that's catchy!

I fail to see the problem with the initial tweet (It's about mozilla supporting donation in crypto).

EDIT:

Ok the poster is obviously this guy:

Jamie Zawinski - Wikipedia

en.wikipedia.org

While he is/was a programmer he clearly also is a boomer so pretty much clueless on this more modern stuff.

 

[AdamK47]

I fail to see the problem with the initial tweet (It's about mozilla supporting donation in crypto).

EDIT:

Ok the poster is obviously this guy:

Jamie Zawinski - Wikipedia

en.wikipedia.org

While he is/was a programmer he clearly also is a boomer so pretty much clueless on this more modern stuff.

Explain it all away with ageism.

 

[ultimatebob]

I fail to see the problem with the initial tweet (It's about mozilla supporting donation in crypto).

EDIT:

Ok the poster is obviously this guy:

Jamie Zawinski - Wikipedia

en.wikipedia.org

While he is/was a programmer he clearly also is a boomer so pretty much clueless on this more modern stuff.

He seems to be one of those "crypto mining is killing the planet" type people. I don't totally disagree with him... the Ethereum team needs to get off their butt and migrate to Proof Of Stake already.

 

[DisarmedDespot]

While he is/was a programmer he clearly also is a boomer so pretty much clueless on this more modern stuff.

Erm, huh? What does age have to do with PoW being crap? I'm a millennial, but that doesn't make Bitcoin not use ~1% of the world's power to barely manage 7 transactions a second. Mozilla's had a bunch of climate-related stuff in the past, so pointing out they're accepting cryptos that are about as power inefficient as you can get is pretty relevant.

Honestly, why is PoW even still a thing?

 

[DrMrLordX]

Honestly, why is PoW even still a thing?

Two factors.

1). Inertia. ASIC-vulnerable algos are now dominated by ASICs that have no other practical function. Bitcoin is the prime offender here. The miners will never agree to changing the consensus algo since it means rendering all their present and future mining hardware unrecoverably worthless.

2). Accessibility. PoW's original lure was that everyman can scrape up a few tokens with his home PC. Newer projects like Raptoreum or um one of the even newer ones (yes, there are more!) draw in miners who have small setups as simple as a gaming PC. Proof of Stake or other more-exotic consensus protocols often have a barrier to entry that typically involves money that miners have already invested in their personal PC that they were going to buy anyway. Of course you'd be correct in observing that PoW projects that mature being plutocratic anyway, so the "little guy" gets bumped off eventually regardless. It's just harder to get started with something like PoS when you have little-to-no spare disposable income.