"Where Are My Graphics Cards?" - 3 Million Sold to Cryptocurrency Miners in 2017

[R-T-B]

You can say the same thing with mining, its trying to advance a new tech and it employs people in the market.

Exactly.

Mining scum!

Lol. There's always that guy. One step forward, two steps back.

 

[Xzibit]

Fortune - Iceland Expects to Use More Electricity Mining Bitcoin Than Powering Homes This Year

 

[Casecutter]

trying to advance a new tech and it employs people in the market

But, running blockchain does exactly what? Cure cancer, entertain, produce gold to then make into everything from exotic electrical circuits to jewelry. I've yet to understand the "tangible" that mining pays for?

 

[Xzibit]

You can say the same thing with mining, its trying to advance a new tech and it employs people in the market.

Smari McCarthy, a member of the Icelandic parliament for the Pirate Party, tweeted: "Cryptocurrency mining requires almost no staff, very little in capital investments, and mostly leaves no taxes either.
"The value to Iceland... is virtually zero."

 

[R-T-B]

Fortune - Iceland Expects to Use More Electricity Mining Bitcoin Than Powering Homes This Year

To be completely fair, not that many people live in Iceland...

And lol @ using a tweet as a source (of the PIRATE PARTY no less)... he obviously hasn't seen the fully staffed mining farms. They use more staff than an equivalent datacenter. This is bringing far more money into iceland than this guy will ever imagine...

But, running blockchain does exactly what? Cure cancer, entertain, produce gold to then make into everything from exotic electrical circuits to jewelry. I've yet to understand the "tangible" that mining pays for?

The payment network. That's the product.

 

[Xzibit]

To be completely fair, not that many people live in Iceland...

And lol @ using a tweet as a source (of the PIRATE PARTY no less)... he obviously hasn't seen the fully staffed mining farms. They use more staff than an equivalent datacenter. This is bringing far more money into iceland than this guy will ever imagine...

Have you seen the sources used around here. Thats like real journalism.

If they pass the tax proposals for them (data miner) they will. If not they will continue to leach their green energy resources and cry about it later when they pack up and leave or their lease is up.

The payment network. That's the product.

Motherboard - One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week

 

[Casecutter]

The payment network. That's the product.

I see it as more a self-fulfilling prophecy. If they where doing something like checking and encrypting say MasterCard transaction there enough outside simulation.

But here the payment network is self-feeding it's own business. When transactions slow (as perhaps a minor loss in value have people sit on it hoping it rebound) so do the folk working the transitions (less Bitcoins moving around). You see less return (harder to generate coin) to the point when cost to operate is not adding cryptocurrency and spiral even more.

 

[R-T-B]

I see it as more a self-fulfilling prophecy. If they where doing something like checking and encrypting say MasterCard transaction there enough outside simulation.

They ARE encrypting and validating bitcoin (or whatever crypto).

Bitcoin issues at the same rate regardless of how many mine. Most cryptos operate that way.

Have you seen the sources used around here. Thats like real journalism.

Sorry, it's not and never will be, no matter who does it. A random set of words does not make an actual researched position.

Motherboard - One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week

You post that like I'm some kind of bitcoin advocate.

I've maintained bitcoin is a dying beast for a very long time.

 

[yotano211]

But, running blockchain does exactly what? Cure cancer, entertain, produce gold to then make into everything from exotic electrical circuits to jewelry. I've yet to understand the "tangible" that mining pays for?

You and everyone else thinks that crypto mining is tangible items, its not, its intangible items. Like a digital download of a game. A decade or more ago, I had to go to best buy or circuit city to buy my games on a DVD or CD disk, today I can just log into Steam and buy a downloadable game.
Crypto mining keeps the network going, its like its own internet. Without the huge datacenters around the world there would be no internet.

 

[R-T-B]

You and everyone else thinks that crypto mining is tangible items, its not, its intangible items. Like a digital download of a game. A decade ago, I had to go to best buy or circuit city to buy my games on a DVD or CD disk, today I can just log into Steam and buy a downloadable game.
Crypto mining keeps the network going, its like its own internet. Without the huge datacenters around the world there would be no internet.

I want to know what the electric cost is to create all those cat pictures on the internet.

I mean, really. I do.

 

[yotano211]

I want to know what the electric cost is to create all those cat pictures on the internet.

I mean, really. I do.

I want to know how much power it cost to store all of those tide pod challenge videos on YouTube and other media websites.
Or the many many other viral challenge videos going around, I guess the newest one that the media is trying to popularize is the lemon challenge.

 

[R-T-B]

I want to know how much power it cost to store all of those tide pod challenge videos on YouTube and other media websites.

Forget the kids. THINK OF THE CO2!

 

[yotano211]

Forget the kids. THINK OF THE CO2!

If people die from that challenge it helps global warming and the gene pool

 

[R-T-B]

If people die from that challenge it helps global warming

Depends. We don't know how much those stupid videos take up.

The world must know!

 

[yotano211]

Depends. We don't know how much those stupid videos take up.

The world must know!

i dont think the world is ready

 

[Xzibit]

I want to know how much power it cost to store all of those tide pod challenge videos on YouTube and other media websites.
Or the many many other viral challenge videos going around, I guess the newest one that the media is trying to popularize is the lemon challenge.

2.26 Terrawatts (Energy Google uses a year 2010)
*source PCMagazine

30.1 Terrawatts (Energy used for Bitcon a year and growing)
*source WIRED

 

[yotano211]

2.26 Terrawatts (Energy Google uses a year 2010)
*source PCMagazine

30.1 Terrawatts (Energy used for Bitcon a year and growing)
*source WIRED

Anything newer, like 2017 at least.
In 2010, I was using maybe 2 kilo/w per day of power, today I use 10-11.5 kilo/w per hour.

 

[Xzibit]

Anything newer, like 2017 at least.
In 2010, I was using maybe 2 kilo/w per day of power, today I use 10-11.5 kilo/w per hour.

5.7 Terrawatts in 2016 for Google

 

[yotano211]

5.7 Terrawatts in 2016 for Google

cool, thanks

 

[moproblems99]

2.26 Terrawatts (Energy Google uses a year 2010)
*source PCMagazine

30.1 Terrawatts (Energy used for Bitcon a year and growing)
*source WIRED

In fairness, that doesn't count the power that it took to create the 'content'.

 

[R-T-B]

In fairness, that doesn't count the power that it took to create the 'content'.

Or power on a machine to view it.

 

[Xzibit]

In fairness, that doesn't count the power that it took to create the 'content'.

Or power on a machine to view it.

Yet your talking about a company that has a estimated 1/3rd of the internet traffic (Google is not just YouTube) and is dwarfed by 1 cryptocurrency many times over.

You can even toss in Facebook at 1.8 TWH for 2016 which combine with Google your talking about an estimated 70% of the internet traffic going through their services according to Newsweek article.

1.8 + 5.7 = 7.5 TwH - 30.1 = 22.6 TwH that 1 cryptocurrency (Just Bitcoin) is using over what Google & Facebook use who are responsible for 70% of the internets traffic.

Let that sink in...

 

[intelzen]

Yet your talking about a company that has a estimated 1/3rd of the internet traffic (Google is not just YouTube) and is dwarfed by 1 cryptocurrency many times over.

You can even toss in Facebook at 1.8 TWH for 2016 which combine with Google your talking about an estimated 70% of the internet traffic going through their services according to Newsweek article.

1.8 + 5.7 = 7.5 TwH - 30.1 = 22.6 TwH that 1 cryptocurrency (Just Bitcoin) is using over 70% of the internets traffic.

Let that sink in...

these are factz. But on other side here - a few miner scums that can not even google this and still insists (!!) that they are the good guys here and insists that they are not mining for their greed (disregarding the CO2 footprint), but "support the new technology"

 

[yotano211]

these are factz. But on other side here - a few miner scums that can not even google this and still insists (!!) that they are the good guys here and insists that they are not mining for their greed (disregarding the CO2 footprint), but "support the new technology"

what, you lost me at, these are......

 

[intelzen]

what, you lost me at, these are......

what is your point? oh right - you had none and the one you had was false (Xzibit showed you) - so now you just keep on trolling