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

[FordGT90Concept]

Congrats, Bitcoin, you've passed up Singapore (5.6 million people) and on your way to Vietnam (94.5 million people) in a year:
https://en.wikipedia.org/wiki/List_of_countries_by_electricity_consumption

I'd say Bitcoin, by itself, already consumes more energy than all of the world's fiat currencies combined.

 

[efikkan]

The last Bitcoins will soon be mined, but we have probably not seen the top of energy consumption for mining (for all cryptocurrencies combined). But the ridiculous part is that all this computation and energy is completely wasted, it's just a method to regulate the generation of new currency. Imagine if this computation was at least spent for something useful, like research.

 

[moproblems99]

Imagine if this computation was at least spent for something useful

Imagine if everything everyone did was always useful...

 

[trog100]

The last Bitcoins will soon be mined, but we have probably not seen the top of energy consumption for mining (for all cryptocurrencies combined). But the ridiculous part is that all this computation and energy is completely wasted, it's just a method to regulate the generation of new currency. Imagine if this computation was at least spent for something useful, like research.

the last part of your statement is a little ambiguous.. one would have to ask.. research into what.. not all research is benign.. he he

trog

 

[trparky]

I don't know, maybe something useful like... cancer research. Something that would benefit all of us.

 

[moproblems99]

I don't know, maybe something useful like... cancer research. Something that would benefit all of us.

So here again, why shouldn't people's gaming time be used to benefit all of us as well?

 

[FordGT90Concept]

Bitcoin is mostly mined/processed on ASIC hardware. These machines were constructed for one purpose and one purpose only: Bitcoin. There is no equivalency between gaming and Bitcoin.

 

[moproblems99]

Hardware has nothing to do with it. Why should my time be spent bettering the world, but yours not? This is completely independent of any task, activity, or object. Tell me, and this is not directly pointed at you Ford, why should what I do benefit the world and what someone else does only benefit themselves?

 

[Casecutter]

Entertainment, the arts movies, music, and alas to some degree even gaming is considered as to promote and stimulate our cognitive thinking.

When does cryptocurrency mining help anyone other than "self-aggrandizing greed" people are willing to spout beliefs to assuage what they're doing to exonerate their "greed is good" existence. As any hedge fund that bought a company with the full understanding to raid the pensions, close the plant, and sell any remaining assets.

 

[moproblems99]

When does cryptocurrency mining help anyone other than "self-aggrandizing greed" people are willing to spout beliefs to assuage what they're doing to exonerate their "greed is good" existence. As any hedge fund that bought a company with the full understanding to raid the pensions, close the plant, and sell any remaining assets.

So, what you are saying is that paying my medical bills amounts to greed?

 

[Casecutter]

So, what you are saying is that paying my medical bills amounts to greed?

So you're saying you're bed ridden and unable to work? It might be relegated to Medical bills... or a yacht, or Lear Jet, none of us probably would never know.
Saying it "can be" might be your "reality", but for most they'll find their own subterfuge in absolving themselves from perturbation.

 

[trog100]

So, what you are saying is that paying my medical bills amounts to greed?

not just any old greed.. "self-aggrandizing greed" seems to be the accusation.. he he

trog

 

[moproblems99]

So you're saying you're bed ridden and unable to work? It might be relegated to Medical bills... or a yacht, or Lear Jet, none of us probably would never know.
Saying it "can be" might be your "reality", but for most they'll find their own subterfuge in absolving themselves from perturbation.

So, this will be my last post in this thread so it doesn't further derail the thread...again. However, yes I have a job. But when family members have $30k cancer treatments and I have my own bills, it becomes difficult. Before you accuse other members of self-aggrandizing greed, just understand that you don't always know their story.

EDIT: On a better note, they are in remission now for those who wonder or care.

 

[Xzibit]

Congrats, Bitcoin, you've passed up Singapore (5.6 million people) and on your way to Vietnam (94.5 million people) in a year:
https://en.wikipedia.org/wiki/List_of_countries_by_electricity_consumption

I'd say Bitcoin, by itself, already consumes more energy than all of the world's fiat currencies combined.

Probably right.

Ethereum Is Already Using a Small Country’s Worth of Electricity
The entire network could be using slightly more than the country of Cyprus.

So, what you are saying is that paying my medical bills amounts to greed?

Well you could waste a weeks of house hold energy paying it with a cryptocurrency or use your visa.

a Visa transaction requires 0.00651 kWh.

 

[trparky]

So, this will be my last post in this thread so it doesn't further derail the thread...again. However, yes I have a job. But when family members have $30k cancer treatments and I have my own bills, it becomes difficult. Before you accuse other members of self-aggrandizing greed, just understand that you don't always know their story.

Yeah but if all of this computing power could be harnessed for reasons that benefit all of mankind instead of greed it would make the world a better place for all of us and not just a few. What if all of this computing power were to be put towards cancer research and in doing so that $30k treatment that you talked about no longer costs that much due to better and cheaper forms of treatment through research.

Greed is something that we as humans will need to learn how to leave behind if we are ever going to be able to evolve our societies and make our world a better place not just for the privileged few but for all of us. Eventually greed is going to destroy all of us.

 

[rtwjunkie]

Wow. Some of these posts are totally heartless.

 

[FordGT90Concept]

3 million cards...let's pretend the average is 6 TFLOP each which comes to 18 EFLOPS. #1 supercomputer in the world is 125 PFLOPS (0.6%). If we figure about $300 per card (which is likely lowballing it), it comes to about $1 billion just in graphics cards. Trump just requested about $700 million to create the first exascale supercomputer (1 EFLOP).

 

[Casecutter]

Wow. Some of these posts are totally heartless.

I suppose there's always the ingenuous.
I just believe if you are buying equipment (normally on credit) and paying electrical costs, you might be further ahead to using that money toward your bills. Not some arrangement where it could all go "bust" tomorrow, and your on the hook in dumping all that equipment (perhaps still not paid for) for pennies on the dollars.