Blitzzwar
The only people in here arguing for crypto are the miners themselves. 

danlw

kram36
Don't know how to do math, do you?

Your ad hominem attack shows you don't know how to back your position.

kram36

Blitzzwar
The only people in here arguing for crypto are the miners themselves. 

So? They paid for their card, they can do what they want with it. You're not entitled to be the only one who gets to buy a video card so you can waste energy only gaming with it.

danlw

kram36

danlw

kram36
Don't know how to do math, do you?

Your ad hominem attack shows you don't know how to back your position.

It just an easy observation.

My example was hypothetical for ease of numbers, but maybe you expect me to use your number.  So I'll adjust.
 
We will say hypothetically that 100,000 cards were available because Nvidia/AMD spent tens of thousands of dollars on market research and they ended up making a combined 100,000 GPUs because they expected gamers to want 100,000 GPUs.
 
You stated that 25% were sold to miners.  That means 75,000 went to gamers and 25,000 went to miners.  However, the real demand is 125,000 (100,000 gamers according to market research plus the extra 25,000 mining unit that were unexpected because the rise in crypto was unforeseen).
 
Demand (125,000) is greater than supply (100,000), therefore there is a shortage and prices rise.
 
So how can you claim that miners had no effect on prices rising?

Xavier Zepherious
 
Hut 8 Buys $44M Worth of Mining Machines to Double Its Hashrate

https://www.coindesk.com/hut-8-buys-44m-worth-of-miners-doubling-its-hashrate

to give you guys a heads up on hut 8 read this

https://www.marc.cn/2019/08/visiting-hut-8s-bitcoin-mining-operations-in-medicine-hat-with-my-son-scott.html
this is when bitcoin was at 10k a coin
In Medicine Hat Hut 8 currently operates 56 BlockBoxes that have a total capacity of over 62 MW (as a comparison, a city like Oakland, California, uses about 10MW) and they can perform 515 PH/s (515 quadrillion calculations per second). Just our operation in Medicine Hat currently mines about 20 Bitcoin per day, so at current prices we create over $200,000 in revenue per day


medicine hat operation made 200k a day - today at current prices that 700k daily
or 21M a month
before the upgrade they just did now -so 42M  a month in medicine hat alone or half billion a year

An alternative view on green bitcoin (if not green crypto in general) has come from a recently formed body called the Crypto Climate Accord (CCA), founded by cryptocurrency firms, renewable energy producers, and even a crypto friendly environmentalist group. The CCA claims it can make all crypto “greener” through a combination of technology improvements in cryptocurrency mining, using 100% renewable energy and “open-source technology

Put simply, it does not matter how clean the creation of an individual bitcoin is. The moment it gets used in transactions, it will be processed by all miners attempting to solve the “proof-of-work” calculation first, regardless of how their electricity is generated or where they are located. Any green bitcoin would rapidly become covered in soot or blood, depending on your preferred metaphor. Things get even messier if the green bitcoins are transferred to people and exchanges who do not segregate them into specific “addresses”

Put very simply, green bitcoins would very quickly get blended with dirtier bitcoins. Green bitcoins simply do not make sense, unless another branch or clone of bitcoin is created that only has green bitcoins, but that would require centralised control of who could mine. And, like all new versions of bitcoin, the coins would only be worth a small proportion of the value (if anything) of “real” bitcoins.

The decentralised nature of cryptocurrency (or at least lack of clear accountability), combined with the incentive and technical models designed by Satoshi Nakamoto, make the concept of green bitcoin close to impossible to achieve in any practical way, though there is the scope for reducing the damage from smaller and more centralised cryptocurrencies. Even a cryptocurrency that is entirely mined using renewables may still have a major carbon footprint because of the CO2 produced in creating mining hardware and the displacement of other industries that use less renewables because cryptocurrency is using a greater share. The CCA looks in many ways like the worst type of greenwashing and their desire to keep crypto “fungible” is primarily in the interests of “big crypto”.

Grey_Beard
It’s like you do not like modern society.  Too bad Butcoin was not around in caveman days.  Not sure what will generate the coins to use or who will manufacture them in your new great society, but it was built by the mighty dollar.  At least it does not move or lose 1/2 it’s value when an eccentric, sleep deprived, troll of a Billionaire tweets some bat crazy stuff.  May be he is the secret backer to it.  He’s the Ponzi of this scheme.  I’ll still take the DOLLAR, it‘s backed by TRILLIONS in value, like the building, roads and those pesky plants that make the computer equipment abused to scheme the Butcoin.  Nice try though.

kram36

Grey_Beard
It’s like you do not like modern society.  Too bad Butcoin was not around in caveman days.  Not sure what will generate the coins to use or who will manufacture them in your new great society, but it was built by the mighty dollar.  At least it does not move or lose 1/2 it’s value when an eccentric, sleep deprived, troll of a Billionaire tweets some bat crazy stuff.  May be he is the secret backer to it.  He’s the Ponzi of this scheme.  I’ll still take the DOLLAR, it‘s backed by TRILLIONS in value, like the building, roads and those pesky plants that make the computer equipment abused to scheme the Butcoin.  Nice try though.

Ah yes, lets talk about devaluation. The US Dollar has lost 96% of it's value since 1913. You keep doing you by making those bankers richer.

Xavier Zepherious

Grey_Beard
It is amazing that you pin your hopes on something like this.  Oh those bad bankers.  Like history is not littered with them.  Next up, Ponzi Butcoin.  The smart, savvy of today is the speed bump of tomorrow.  I just glad I do not need to look under my bed for the boogieman to allow me to sleep at night.  I am just we glad you guys here to chart our path off the end of the flat Earth. 

the current monetary policy of all economies is a ponzi scheme - didn't  you know that
money is lent out 10x times(so the dollar you put in bank is lent out ten times - that means no $$ when there is a run on the bank- sounds ponzi to me because the investors.ie savers can't get their $$ back and that why there is a limit of how much they will back)
you are borrowing $$ from you kids and grandkids and great grand kids future rather than pay your bills(US debt) 
bite the bullet quit spending... specially on the military and start paying more taxes till the debt is paid (at least get to a balance budget - and thats never gonna happen if you keep wanting tax cuts)
 
id rather see my kids have a better life than us - they are not going to if we keep spending like drunken sailors and never pay it off
 
https://moneyweek.com/eco...s-a-giant-ponzi-scheme
 
https://voxeu.org/article...ernment-s-ponzi-scheme
 
The policy is simple. The government takes (using whatever language it wants) a fixed amount each period from the young and hands it to the old, independent of the state of the economy, given by the size of the capital stock and the level of multifactor productivity. When the hit on the young exceeds their earnings, the game is over, with the government either extracting all the income of the young and terminating the economy or switching to a new policy regime, which leaves the young with something to eat.
 
Our simulations, based on an “overlapping generations” model calibrated to the US economy, produce an average duration to game over of roughly one century, with a 35% chance of reaching the fiscal limit in roughly 30 years.

Grey_Beard
I cannot believe you are still defending the concept this many pages later.

Grey_Beard

kram36

I can't believe you're not smart enough to figure out you're being fliest by the bankers and outright trying to protect them many pages later.
 
What a shame the short mindedness some people have, just over thinking crypto miners are keeping them for buying a stupid video card.

What are you talking about? Buying a GPU is the symptom not the disease. I never mentioned not be able to buy a GPU. There are many factors there.

If I ran around offended by everyone who is trying to take advantage of me, I would be as misguided as you are. It amazes me you think you are smart enough to our maneuver these systems.

Like I said earlier, cult member are never aware they are in a cult.

Saying this is a “green” process is just laughable. It’s like saying my ‘65 Mustang is not polluting the world because I use unleaded gas now.

kram36

I see your not aware of the cult you are currently in, actually you are complicit in imprisoning yourself.