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
People do care about the tech landscape, trustworthiness of crypto as it was touted at the beginning etc etc. ad infinitum. This was never about you are anyone else making profit.
I am a miner, and I too call these commenters stupid. I cannot believe some people are crying it costs them an extra $100 for them to get a useless 10% increase in framerate lol. It costs $100 more because now that toy you bought can pay for itself in 6 months. Sorry if your too stupid (more likely stubborn) to figure this out.
It doesn't matter, because your original assertion that "Nobody cares what you make or made" is false.
I care. And I was replying to someone who directly asked for miners' testimonials, so he cares (even if he did ask sarcastically.)
"Mining" (AKA Proof of Work) isn't the only crypto type out there, so your statement is false. It just gets the most headlines because well, money talks. Why do people on this site feel the need to brag about an OC?
I can't believe you honestly just asked this question.
Not sure why I said that < I'm a silly American >
Carry on.
Again with the typical superiority complex that makes you believe everyone is concerned about your well being. I clearly wasn't, I was just describing an archetype and you proved my point I suppose.
EDIT: Pretty amazing the downvote brigade going on from some users.
Fast forward 10 years from now and BTC is trading for $100 USD. Whatever you held was devalued hugely but the ledger shows you still have x number BTC. Unless all you own and all of your transactions are encoded in the ledger, it can't show your entire "personal wealth." But such is the case with any accurate ledger. Cryptocurrencies aren't unique in this regard. The only thing unique about BTC especially is that the ledger is public (which is a mixed bag).
Please truly do some research on Sound Money, Austrian Economics, and the history of Currencies. It seems like you know very little about these subjects, or even worse - You are one of those blundering Keynesian people...
Truth is, I never, not a single time, bought a new GPU to use for mining.
So continue on with your prejudicial crusade. As I said above... cry more. I'll laugh. Did I "Kill it"? I'm not a millionaire, no. But my mining profits bought me a new computer (for gaming) bought my wife a new GPU (for gaming) and my profits from trading paid for the closing costs on the house I just bought, which I might not have been able to close on if not for those crypto trading profits.
So once again... Don't care. You want to kick and scream about how we peed in your pool? Well I didn't. My mining has utterly, irrefutably, NOTHING to do with you, and is none of your business. Doesn't matter how much a testimonial is worth over the internet. He asked. I provided. You stuck your nose in the middle. Typical. (and not surprising, considering you seem to think that my doings are your business in the first place.)
What you see as my "superiority complex" is directly proportional to how much you complain about me and people like me. Don't like me making fun of you? Don't start threads, and comment on threads, directly attacking us.
Back in the 90's we said "Don't start none, won't be none."
The GPU shortage was IN NO WAY effected by small-midsized miners who were smart enough to get in on a lucrative side hustle.