Thursday, August 16th 2018
The Only Thing You Get with Mining Ethereum Now is Room Heating
Cryptocurrency prices continue their downward slide making them no longer viable to mine on GPUs. The value of Ethereum has dropped to USD 256, down from its historic high of $1,250 this January. Bitcoin fell to below $6,000 Wednesday, way down from its late-2017 high of $19,000. A 79 percent devaluation isn't the worst of Ethereum's problems. The currency is facing stiff inflation from conversions to other cryptocurrencies or the Dollar. At its peak, ETH held 32 percent of all cryptocurrency market cap, beaten only by BTC at 39 percent. Now ETH only makes 14 percent.
Source:
Bloomberg
108 Comments on The Only Thing You Get with Mining Ethereum Now is Room Heating
In their twisted universe, they actually believe they are smart for not understanding something before other people. Because after all, they have to be the smartest person about everything... Right? They are the most special... Right mom?!
Ford, I know you know what sample bias is.
So, whatever bias there is, it's minuscule, actually.
Bitcoin is worth thousands of dollars - it's a roaring success even if it never got above $10K again. I swear in 3-6 years there will be people making fun of bitcoin because it's "Only worth $40,000" after it crashes from $250,000!
Me? I find it surprising it's as stable as it is, being so young and only backed by faith.
Once again... I was DIRECTLY responding to a guy who asked for "confessions" of miners.
Or did you think the entire thread was talking to you, @Vya Domus ?
EDIT: and as for not feeling the need to justify my activities... the subject of the thread is literally the viability of mining. That's what we're talking about here. So far, all you've contributed to the thread is ad hominem.
Even if it's not profitable I'll be heating my home via pc not central heating.
Either my pocket or folding@ home will benefit(plus me from the heat)
But it will be just as effective and at least has a bonus over just burning shit to provide warmth to my ass.
So short sighted this whole thread , basic heating as it is now is total bollox.
And this imho is one of the first actually on point replys.
After all who gives a shit if you like bitcoin or not.
Look, I know you have an answer to everything and so do I. Can we at least agree we're both wasting our time talking with someone who'll never see their fault in anything ?
And no, we can't agree to disagree. You directly attacked me. You can't punch someone in the face, get punched back, and say "We're both at fault here." It doesn't work that way.
But again, worry not, I'll make sure that wont happen.
The only reason I got my hands on one was because my local Microcenter was only selling cards with new PC builds, you had to buy all of the components to build a new system or no video card for you. Why the fuck did they do that?
Maybe I jumped in the conversation too late. I don't know who you're replying to, I guess.
If heating is the only benefit now as Ethereum isn't profitable, will those mining change coin or merely continue in the hope of a long term return to profitability.
p.s. If topic can't be maintained I suggest this thread be locked before we need sawdust over the floor to mop up the blood.
I'm not sure what the effect would be on the market if a significant number of people stopped mining, though. Difficulty would go down, so miners would get more whatevercoins, but there may be more than just that to it. Maybe the currency would become worth even less because of the lack of support (miners) behind it.
Probably won't be reading this forum any longer as it seems to have deteriorated to nothing but name calling and ignorant responses.
Have a great life TPU.