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Thread: Bitcoin - cryptocurrency?

  1. #91
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    Quote Originally Posted by Jack@European_Parts View Post
    Can't wait. Video cards are stupid expensive right now due to all the cryptomining crap.

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  3. #92
    Verified VCDS User Blazs_A4ABC's Avatar
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    Quote Originally Posted by Santos View Post
    Can't wait. Video cards are stupid expensive right now due to all the cryptomining crap.
    Would be nice but not gonna happen.

    First, manufacturers and AIB partneres as well as retailers, are literally swimming in money. They aren't going to let this go. Why would they go back to tons of cheapass single card buyers when miners come in, buy large and leave...
    Additionally, since crypto miners are investors at the same time they will start buying as soon as a coin starts to correct. This restores the price and the bubble is up again. The money in the market stays inside, just hops between owners.
    There is simply enough money to self-sustain the GPU mining network.

    Let's see if the Bitmain's Antminer F3 ASIC is up to the rumors and it's able to beat GPU setups in GPU-based cryptos.
    Last edited by Blazs_A4ABC; 03-20-2018 at 05:00 AM.
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  4. #93
    Benevolent Dictator Uwe's Avatar
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    Interesting article:
    This Is What Happens When Bitcoin Miners Take Over Your Town

    The limiting factor is not the price of video cards or servers, but electricity. And it looks like the marginal cost of production is currently around $2000/BTC.
    The engineering problems are likely insurmountable. It would be like proposing to land a rocket booster section on a barge floating in the middle of the ocean.

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  6. #94
    Verified VCDS User vreihen's Avatar
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    I read a news article over the weekend saying that a town in NE NY (Plattsburgh?) just passed a municipal ordinance banning Bitcoin mining.....

  7. #95
    Benevolent Dictator Uwe's Avatar
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    Quote Originally Posted by vreihen View Post
    I read a news article over the weekend saying that a town in NE NY (Plattsburgh?) just passed a municipal ordinance banning Bitcoin mining.....
    Just Bitcoin, or all crypto-currency?

    Either way, I do not think such an ordinance would not stand up to court challenge.
    The engineering problems are likely insurmountable. It would be like proposing to land a rocket booster section on a barge floating in the middle of the ocean.

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  9. #96
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  11. #97
    NostraJackAss Jack@European_Parts's Avatar
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    And here is why not to own actual bitcoin

    http://www.msn.com/en-us/money/marke...Vhk?ocid=ientp
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  12. #98
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    Or any cryptocurrencies

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  14. #99
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    Quote Originally Posted by Jack@European_Parts View Post
    And here is why not to own actual bitcoin

    http://www.msn.com/en-us/money/marke...Vhk?ocid=ientp
    Jack: too late!!! It's not possible to put the "blockchain" genie back into the bottle - fact is that distributed ledgers are here to stay (in virtually every industry that relies on keeping records of some kind). The old, outdated paradigm of a single central registry of information as the sole authority for recording transactions (be they in banking, voting, library lending, customs freight, food safety etc) is fast becoming a thing of the past.

    The link in your post points to cryptocurrency cyber attack, but these same attacks have plagued the traditional banking industry for years - and I suspect that the financial losses in the banking industry from cyber theft have been far in excess of the Conrail incident.

    Every market regardless of its nature is driven by fear and greed and the 10% fail in Bitcoin value that allegedly resulted from the cyber attack is a classic example of the former driver. I would have been concerned if the cyber attack didn't affect the price of cryptocurrencies - it would have been a portent of a market that was not working properly.

    In the 21st century, anyone that invests in any stock be-it traditional shares, or crypto currency should assume that the value of their investment may be impacted by cyber theft - it's just another one of the many risks that need to be managed these days.

    News articles like the one in your post is an opportunity for the profit-takers to enter the market - time will tell if they are successful.

    Long live blockchain and proof-of-work (and the fabulous "hash function")!!

    Don
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  15. #100
    NostraJackAss Jack@European_Parts's Avatar
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    Jack: too late!!! It's not possible to put the "blockchain" genie back into the bottle - fact is that distributed ledgers are here to stay (in virtually every industry that relies on keeping records of some kind). The old, outdated paradigm of a single central registry of information as the sole authority for recording transactions (be they in banking, voting, library lending, customs freight, food safety etc) is fast becoming a thing of the past.

    The link in your post points to cryptocurrency cyber attack, but these same attacks have plagued the traditional banking industry for years - and I suspect that the financial losses in the banking industry from cyber theft have been far in excess of the Conrail incident.

    Every market regardless of its nature is driven by fear and greed and the 10% fail in Bitcoin value that allegedly resulted from the cyber attack is a classic example of the former driver. I would have been concerned if the cyber attack didn't affect the price of cryptocurrencies - it would have been a portent of a market that was not working properly.

    In the 21st century, anyone that invests in any stock be-it traditional shares, or crypto currency should assume that the value of their investment may be impacted by cyber theft - it's just another one of the many risks that need to be managed these days.

    News articles like the one in your post is an opportunity for the profit-takers to enter the market - time will tell if they are successful.

    Long live blockchain and proof-of-work (and the fabulous "hash function")!!

    Don
    Don,

    FCBC

    Real "HARD" currency in real rare metals & markets ........

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    Last edited by Jack@European_Parts; 06-12-2018 at 08:16 AM.
    European Parts Emporium/Performance / Immobilizer Solutions EPE
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