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
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108 Comments on The Only Thing You Get with Mining Ethereum Now is Room Heating

#101
John Naylor
This was a "pump and dump" scheme from the getgo ... market manipulated to generate buzz till it built enough for the manipulators to cash out.
Posted on Reply
#102
trparky
John Naylor
This was a "pump and dump" scheme from the getgo ... market manipulated to generate buzz till it built enough for the manipulators to cash out.
Yep, I knew it from the beginning.
Posted on Reply
#103
Papahyooie
FordGT90Concept
You might want to familiarize yourself with the definition of those words and how they differ.
Quite the low-effort cop-out you've got there.

I am very familiar with the words, and what they mean. I stand by what I said.
Posted on Reply
#104
StrayKAT
trparky
Yep, I knew it from the beginning.
But I still admire the people who put in the effort and then got out at the right time. I'm not really much of a hustler myself.. but it's interesting at least to see all the ways people try to make a buck (legally).

My only problem with mining is the deluded libertarians who think it's some model for humanity (at this moment)… or think that currencies are implemented arbitrarily.

We can ridicule it, but there's no need to hate on the users/individuals involved.
Posted on Reply
#105
FordGT90Concept
"I go fast!1!11!1!"
Papahyooie
Quite the low-effort cop-out you've got there.

I am very familiar with the words, and what they mean. I stand by what I said.
regulation
2
a : an authoritative rule dealing with details or procedure
b : a rule or order issued by an executive authority or regulatory agency of a government and having the force of law

dictation
1
a : prescription
b : arbitrary command

Rule versus command. Regulatory body uses rules to gauge wrongdoing. POTUS/COTUS can dictate (command) a regulatory agency to do something like investigate potentially unlawful behavior but a regulatory body cannot do that unless the rules are already established authorizing them to do so (e.g. FCC and regulating internet traffic).

Why do you think so many people put so much money into stock markets? Hint: it's not because they lack regulation.
Posted on Reply
#106
trparky
Wall Street looks down right stable compared to that of cryptocurrencies. At least you can be somewhat confident about the S&P 500 and the value of it from one day to the next. Cryptocurrencies? Not so much.

Hell, I have money in the stock market right now. Some of it in Fidelity funds but there's also some money in the S&P 500. Lately I've been pretty lucky.
Posted on Reply
#107
Papahyooie
FordGT90Concept
Rule versus command. .
You're really reaching there. That's reaching levels of arguing semantics that shouldn't be possible. A COMMAND given to regulatory bodies creates regulation. Therefore, if you support regulation, you support the COMMAND given to the regulatory body to instate such rules. That is dictation. Once the regulatory body creates a rule, that RULE is a COMMAND not to break the RULE. That again, is dictation.

People put money into the stock markets because they have a chance to make money there. The regulation or lack thereof is not to thank for the making of money. If anything, it hinders the making of money. (Note, I'm not saying that's a good or bad thing, simply acknowledging the fact that without regulation, those who knew how could make MORE money in the stock market... You might hate them for it, but there is absolutely no doubt that regulation hinders the making of money in the stock market.) People make money in the regulated stock market. Plenty of people made money on unregulated cryptocurrency. Therefore regulation is not to thank for people making money in the stock market.
Posted on Reply
#108
svan71
qubit
So we can finally have reasonably priced cards at good availability again. At long last.
reasonably priced ? don't look at those RTX prices.
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