Couple of mining related new items. Mining haters rejoice!

[DeathtoGnomes]

previous post was deleted, my bad for not adding text to it, just a link.

These 2 articles could and will negatively affect mining, not so much the China/XFX issue but the EU regulation will.

1st China and XFX.

XFX China website shuts down after Chinese Customs Office seizes 5840 illegally mislabeled XFX graphics cards worth 3M USD - VideoCardz.com

XFX China in serious trouble According to the report from MyDrivers, the Chinese Customs have seized thousands of illegally imported XFX Radeon graphics cards. Shipment of seized XFX graphics cards, Source: Chinese Custom Office XFX is a division of Hong Kong-based Pine Technology Holdings...

videocardz.com

2nd is an EU regulation vote coming next week.

Crypto industry warns of ‘existential threat’ from draft EU regulation

A European parliamentary committee is poised to vote on new regulation for crypto which industry experts fear could effectively ban Bitcoin and Ethereum.

mosttraded.com

“EU Commission to ban Proof-Of-Work consensus protocols. All participants in the ecosystem from block producers to traders will be impacted by this full EU wide prohibition,” wrote Ian Taylor the chief executive of industry body Crypto UK on LinkedIn.

 

[eidairaman1]

I See XFX firing the China Branch and probably not continuing business in that area. No wonder some of these gpus wouldnt take stock bios, they have been sticker/heatsink changed...

 

[Space Lynx]

I See XFX firing the China Branch and probably not continuing business in that area. No wonder some of these gpus wouldnt take stock bios, they have been sticker/heatsink changed...

Asus is about the only company I trust anymore... if I ever build a next gen rig I think I will pay the Asus premium, it's just worth it in the long term I think.

 

[R-T-B]

This (the EU regulation) coupled with Ethereum going PoS will probably put a big hole in PoW mining, but I doubt it'll ever vanish entirely. Still, a massive reduction is needed, so this is good. It's been way too large a part of the market for way too long.

Crypto however is going nowhere. Make no mistake. Just its impact on consumer GPUs.

 

[Space Lynx]

This (the EU regulation) coupled with Ethereum going PoS will probably put a big hole in PoW mining, but I doubt it'll ever vanish entirely. Still, a massive reduction is needed, so this is good. It's been way too large a part of the market for way too long.

Crypto however is going nowhere. Make no mistake. Just its impact on consumer GPUs.

the haves and have nots, and the continuing divisions of our society, and in the background when a great disaster occurs everyone rallies and says we are all in this together in a brief temporary illusion... what an odd species we are indeed.

 

[R-T-B]

what an odd species we are indeed.

I look at it different. I look back to the chimps waging their tribal wars, and think we've advanced a lot less than we pretend.

 

[mb194dc]

This (the EU regulation) coupled with Ethereum going PoS will probably put a big hole in PoW mining, but I doubt it'll ever vanish entirely. Still, a massive reduction is needed, so this is good. It's been way too large a part of the market for way too long.

Crypto however is going nowhere. Make no mistake. Just its impact on consumer GPUs.

Why would you say the latter?

Arguably block chain technology isn't going anywhere. Just need to find real world situations where it's a better solution than existing technology.

As for Crypto "currencies", their only use is speculation and illegal transactions including sanctions breaking activity. Plenty of reasons therefore why they could ultimately all go the way of the dinosaur.

The biggest one for me though is that anyone can create one, only adoption provides their "value". The rest is simply technology obfuscated garbage. Anyone with enough twitter followers can therefore start one. It's no different to simply printing a currency with your own face on it at the base level...

 

[R-T-B]

Why would you say the latter?

Because they will be adopted by the various national state governments at some point. The writing seems on the wall there. Mining will die. Crypto will not.

Don't deny that several stablecoins are actively being evaluated for this. They are.

As for Crypto "currencies", their only use is speculation and illegal transactions including sanctions breaking activity. Plenty of reasons therefore why they could ultimately all go the way of the dinosaur.

That's more an arguement why they will never go extinct than an arguement for their extinction, but it's also a small percentage these days that is truly "illegal." Speculation however is rampant. And again this only supports the idea they won't go anywhere, only be regulated into an official form.

It's no different to simply printing a currency with your own face on it at the base level...

It really isn't different at all. But there are some paper currencies operating even in the USA today with redeemable value (in their location) that are basically exactly that, and there have been basically since before the constitution, so it's not really a new idea.

List of community currencies in the United States - Wikipedia

en.m.wikipedia.org

 

[DeathtoGnomes]

Because they will be adopted by the various national state governments at some point. The writing seems on the wall there. Mining will die. Crypto will not.

I doubt mining will die, not totally at least. If it truly becomes illegal, there are those that will find a way, or rather, find some likely clueless country to take advantage of.

 

[R-T-B]

I doubt mining will die, not totally at least. If it truly becomes illegal, there are those that will find a way, or rather, find some likely clueless country to take advantage of.

I should clarify by "die" I don't literally mean "die," more a massive reduction.