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
I am very familiar with the words, and what they mean. I stand by what I said.
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.
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.
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.
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.