ASUS Thinks It's a Good Idea to Mine Cryptocurrencies When Your GPU Is Idle, Partners with Quantumcloud

[EarthDog]

Crypto mining is a sham...

Do tell, please.

 

[rtwjunkie]

Wow. The level of irrational ASUS anger in here is incredible. It’s optional to install this and use it. ASUS merely says they will encourage this use.

 

[bajs11]

yes! lets all buy Asus overpriced gpus to make ourselves some imaginary money

 

[Sasqui]

Posted it before, but just too appropriate:

Bitcoin dead 326 times and counting... this time it's different...

https://99bitcoins.com/obituary-stats/

Even has death events filtered by year.

That's too funny, pundits on both sides all the time. It seems they just like to throw out random predictions in case they're right one of those times, then shout "I told you so!"

At this time, if ASUS paid my power bill, I might just agree with them.

 

[Deleted member 158293]

That's too funny, pundits on both sides all the time. It seems they just like to throw out random predictions in case they're right one of those times, then shout "I told you so!"

At this time, if ASUS paid my power bill, I might just agree with them.

Well... there's a lot of vested financial interest to see bitcoin fail. A lot of organizations could stand to lose a lot of money. Bitcoin isn't owned by any central organization, so there is no marketing or promotion budgets. The macro economics & implications are quite complexe and only really started to be fully understood in the last couple years beyond using it just as a non-corporate replacement to paypal which bitcoin can do, but isn't especially suited for.

Bitcoin is also getting close to Mastercard in daily global transaction value, if not quantity.

 

[Sasqui]

Well... there's a lot of vested financial interest to see bitcoin fail. A lot of organizations could stand to lose a lot of money. Bitcoin isn't owned by any central organization, so there is no marketing or promotion budgets. The macro economics & implications are quite complexe and only really started to be fully understood in the last couple years beyond using it just as a non-corporate replacement to paypal which bitcoin can do, but isn't especially suited for.

Bitcoin is also getting close to Mastercard in daily global transaction value, if not quantity.

Advantages of Crypto aside, If you've ever followed equities (stocks), you'll see the same type of speculation. Look at Micron ticker: MU

 

[R-T-B]

and it is also like laundering money

lolwut. I was with you until this. How are you laundering money by mining your own coins?

Why? Isn't this optional?

Yes, which is why it may flop. But boycott? Don't make me laugh.

 

[EarthDog]

I missed that. Laundering money.... hahahawtfbbqsos?

Some people dont like this, i get it. But maybe understanding it with a bit more depth would be good.

 

[xenocide]

I missed that. Laundering money.... hahahawtfbbqsos?

Some people dont like this, i get it. But maybe understanding it with a bit more depth would be good.

If we look at Bitcoin specifically, a majority of the coins were mined essentially for free before the general public even had a stab at it. It's more accurate to say it's the most sophisticated technological get-rich-quick scheme we've ever seen. As it stands, I have yet to hear a single good argument for what a Bitcoin has that equates to it being valuable. Most other things have value for a specific reason, but Bitcoin has value almost entirely because people say it has value. The only argument really is that someone spent time and money (via electricity and hardware) to farm one, and that is where the value is derived. But even then, the majority of these Bitcoins were mined when it costs pennies to get each one, and now it takes days of dedicated hardware, and people have started mining alternative currencies to trade up and get them. The people who benefit the most from Bitcoins increased value are the people who created Bitcoin and started mining it earlier than anyone else.

As for laundering money, that is almost certainly one of Bitcoins most common uses. Cannot transfer money through a bank? But $10 million in Bitcoin and sell it to a second account in the country you want it in. Maybe you have to pay taxes, but when it comes to avoiding sanctions or laws it certainly makes things a lot easier than networking, agreeing to find a partner, paying a percentage to that partner, and slowly laundering the money through falsified expense reports.

 

[StrayKAT]

I'm convinced there's a Taiwan subset of the Mafia/Triads... and they all make our computer parts.

 

[Deleted member 158293]

Advantages of Crypto aside, If you've ever followed equities (stocks), you'll see the same type of speculation. Look at Micron ticker: MU

Indeed. Actually, Nasdaq as a whole looks nearly identical to bitcoin's graph. Just a few years ahead.

 

[Captain_Tom]

I ask people to try to explain what happens when you give your gpu power to mining and what does bitcoin get out of it.
I dont understand what im being told and i only assume its for nothing but to get money. I want to know if it goes to a cause or it does anything at all

Atleast with folding and WCG you are specifically told how ur power is being used, and you can choose

You're being paid to help run a decentralized payment network. It would be like if Venmo paid you to have your gaming pc process transactions for them instead of keeping centralized servers.

There, now you know lol.