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.

 

[DAPUNISHER]

Yep, after all that, four extra power supplies did the trick. Graphics cards will be falling from the sky any day now.

Edit: heh, seems I can unmark other peoples' "solutions".

I thought you were roasting me for going off topic. We have both been posting here forever, so you should know by now I derail worse than AMTRAK.

 

[DAPUNISHER]

Haha I think I solved it again. ROFL

I feel like a celebrity, getting roasted like this.

 

[Ninjak]

3070 Ti sold prices on ebay are down $300-$400 from two weeks ago, now around $1150. I have a dream that one day I will be able to walk into BestBuy (not even sleeping in line overnight) to buy a GPU for RETAIL PRICE. Maybe it will happen when ETH crosses $1000.

 

[BFG10K]

GPU pricing overlaid with Crypto pricing:

Spoiler

 

[DrMrLordX]

Maybe it will happen when ETH crosses $1000.

Maybe it will happen when you can no longer mine ETH with a video card.

 

[ultimatebob]

Maybe it will happen when you can no longer mine ETH with a video card.

That day will come once they switch to Proof Of Stake. The ETH team doesn't seem to be in any hurry to do that, though!

 

[simas]

That day will come once they switch to Proof Of Stake. The ETH team doesn't seem to be in any hurry to do that, though!

They do not. I head about 'imminent' switch to PoS for multiple months now from people who may not understand what word 'imminent' means..

 

[fleshconsumed]

ETH PoS was supposed to happen years ago. They're finally getting close and even then it looks like it'll roll out in 2022, most likely late 2022. The video card price collapse will be epic at that point.

 

[beginner99]

SO local shop has again some supply:

3070 Ti: all models >$1100
3070: cheapest for $920
3060: cheapest for: $650
2060. $500
1650: $280

6700 XT: $800

Yeah, I will pass on these prices.

 

[Fanatical Meat]

This certainly isn’t going to help crypto prices & bank adoption of crypto

Two South African brothers have vanished with $3.6 billion of bitcoin in what could be the biggest crypto heist in history

 

[Fanatical Meat]

SO local shop has again some supply:

3070 Ti: all models >$1100
3070: cheapest for $920
3060: cheapest for: $650
2060. $500
1650: $280

6700 XT: $800

Yeah, I will pass on these prices.

1650 price isn’t that bad but yeah, scarcity encourages irrational behavior *see last years TP shortages*
At this time it is best to wait

 

[moonbogg]

This certainly isn’t going to help crypto prices & bank adoption of crypto

Two South African brothers have vanished with $3.6 billion of bitcoin in what could be the biggest crypto heist in history

I read about that. It certainly seems like a heist by the operators, but is there a chance it isn't? Imagine if someone did hack and steal the coins from a service you operate. No one is going to believe it wasn't you and you'd have basically no choice but to run away and hide or they will find you and throw you into a giant blender, plain and simple. Just saying. But yeah, hurray for video card prices I guess? Is stealing bitcoin even a crime? Honestly I don't know. If it isn't legally considered money and if it falls under some vague digital category, are coins even considered a thing that can be stolen? Maybe if they stole it they didn't even do anything (legally) wrong? I read that they can't even launch an investigation because the coins aren't even legally considered money. Seems pretty SKETCH!

 

[Hitman928]

I read about that. It certainly seems like a heist by the operators, but is there a chance it isn't? Imagine if someone did hack and steal the coins from a service you operate. No one is going to believe it wasn't you and you'd have basically no choice but to run away and hide or they will find you and throw you into a giant blender, plain and simple. Just saying. But yeah, hurray for video card prices I guess? Is stealing bitcoin even a crime? Honestly I don't know. If it isn't legally considered money and if it falls under some vague digital category, are coins even considered a thing that can be stolen? Maybe if they stole it they didn't even do anything (legally) wrong? I read that they can't even launch an investigation because the coins aren't even legally considered money. Seems pretty SKETCH!

I don't know about other countries, but in the U.S., stealing bitcoin (or any other crypto) absolutely is a crime. It's not considered currency but is considered property of the owner with a cash value. Lots of people have already gone to jail in the U.S. and around the world for stealing crypto through various means.

 

[Fanatical Meat]

I don't know about other countries, but in the U.S., stealing bitcoin (or any other crypto) absolutely is a crime. It's not considered currency but is considered property of the owner with a cash value. Lots of people have already gone to jail in the U.S. and around the world for stealing crypto through various means.

Sure but the value of the crypto is still stolen.
I’m sure the thieves are very concerned about being arrested.





The talk about Crypto being secure seems sort of odd when someone can walk off with billions in crypto value. Appears the two brothers just walked away with it.
Madoff proved pyramid schemes still work but at minimum those transactions are auditable. Not so sure this is possible with stolen crypto money and if it is it sort of undermines the anonymity of what crypto wants to be.

 

[Ninjak]

That day will come once they switch to Proof Of Stake.

If you thought overpriced GPUs were bad, get ready for $1000 rib eyes and $50 Big Macs.

 

[Fanatical Meat]

If you thought overpriced GPUs were bad, get ready for $1000 rib eyes and $50 Big Macs.

Why?

BTW you have the best lurking skills I have seen on these forums.

 

[Hitman928]

Why?

BTW you have the best lurking skills I have seen on these forums.

Proof of 'steak'

 

[Failnaught]

all those Chinese industrial mining factories getting shut down... those cards must go somewhere, right? They can't all be ASICs for Bitcoin that's not useful for anything else.

 

[VirtualLarry]

They can't all be ASICs for Bitcoin that's not useful for anything else.

You might be surprised.

 

[BFG10K]

This certainly isn’t going to help crypto prices & bank adoption of crypto

Two South African brothers have vanished with $3.6 billion of bitcoin in what could be the biggest crypto heist in history

It's ironic how Crypto purports to be an anonymous utopia of unregulated currency to replace "failed" government money . But as soon as one mining parasite steals from another, miners expect government cops paid by Fiat to deal with it.

 

[VirtualLarry]

It's ironic how Crypto purports to be an anonymous utopia of unregulated currency to replace "failed" government money . But as soon as one mining parasite steals from another, miners expect government cops paid by Fiat to deal with it.

To be sure, I basically somewhat agree with your sentiment of irony, however, the use of the term "miner" to describe anyone that has anything to do with crypto as an apparent prejorative really rubs me the wrong way.

 

[IntelUser2000]

This certainly isn’t going to help crypto prices & bank adoption of crypto

Two South African brothers have vanished with $3.6 billion of bitcoin in what could be the biggest crypto heist in history

I lost about $650 cdn because the QuadrigaCX founder died. Or "died".

Funny the timing, because I sold Eth to buy it when it would drop, and it did. Two weeks after that they announced the news.

In such cases, they are using centralized entities to store crypto, so you kinda lose the point of using a "decentralized" currency.

 

[DrMrLordX]

The talk about Crypto being secure seems sort of odd when someone can walk off with billions in crypto value.

Exchanges essentially manage your blockchain assets for you. They give you a deposit address and then expect you to send your tokens there to be managed on the exchange. You're giving them money with the expectation that they won't run off with it. When they do run off with it anyway, it's already too late.

So long as you keep your tokens off exchanges, modern blockchains are quite secure.

 

[Mopetar]

It's ironic how Crypto purports to be an anonymous utopia of unregulated currency to replace "failed" government money . But as soon as one mining parasite steals from another, miners expect government cops paid by Fiat to deal with it.

Which is just stupid. The real crypto-way is to hire an anonymous Bitcoin assassin through the internet. The free market has already provided us with a perfectly workable solution!

 

[ultimatebob]

Which is just stupid. The real crypto-way is to hire an anonymous Bitcoin assassin through the internet. The free market has already provided us with a perfectly workable solution!

Heh, I wonder if that's how McAffe bought it. It makes me wonder what he did to get himself "suicided"...