Intel "Bonanza Mine" is a Bitcoin Mining ASIC, Intel Finally Sees Where the Money is

[Countryside]

It won't be banned outside the authoritarian world but further taxation is likely.

Indeed, things are getting more out of hand now when Antivirus software includes crypto mining software

 

[b4psm4m]

I don't think anything will come along quickly. ETH gained traction largely because when BTC switched to ASICs, all of the previous BTC miners had to find something else to mine. It took a couple of years before ETH came out on top and after that it was the momentum of popularity.

I don't know what the next coin will be after ETH, but I'm fairly sure there will be one. Ravencoin is no longer the most profitable to mine, Autolykos seems to have vanished from whattomine.com too. I guess there's a fight to the death for all the shitty altcoins that needs to take place once ETH moves on

That's the point though, the rest of the POW crowd are shitcoins (i'll exclude XMR in that, but RandomX is a CPU algo), whereas ETH has a massive amount of use. There is nothing to take its place. It's old and started on POW as that's what was done at the time. All of its competetors Cardano/Solana/Vechain etc never did and never will use POW because of the shortcomings. A coin/token wont rise because miners want it to, they create sell pressure. For a token to rise it needs investors, and no new/existing high action projects use POW, and none in the future are likely to.

Unless someone decides to resurect ETC, but afaik, that project is as good as dead, and obviously can't compete with ETH 2.0

 

[R-T-B]

Indeed, things are getting more out of hand now when Antivirus software includes crypto mining software

tbf Norton has basically been a mess for a while now...

 

[Chrispy_]

Norton Cypto is a joke.

15% cut, that means that after paying for Norton and then paying for Electricity, you get nothing. Norton make more than you do because you've paid them for the privilege of using their software and then you mine for them and they don't have any hardware costs or energy costs.

Most miners and pools take a 1% cut. 15% is daylight robbery, but Norton are unethical crooks exploiting the stupid anyway, so what's new?!

 

[R-T-B]

15% cut, that means that after paying for Norton and then paying for Electricity, you get nothing.

Ethereum is well above a 15% over electric profit margin, but Norton in general is still a joke, and their crypto miner is no exception.

 

[Chrispy_]

Ethereum is well above a 15% over electric profit margin, but Norton in general is still a joke, and their crypto miner is no exception.

You say that, but you're assuming a competent miner algorithm, which Norton is not.

My electricity is $0.28/KWh and I'm almost exactly at 200% profit (ie, electricity is 1/3rd my mining revenue)

LTT looked at it in today's video and not only do they take a 15% cut, the hashrate is down by about 15-20% over nicehash (which isn't the best miner either!) and their power draw was up almost 60%. It's LTT so take those numbers with a pinch of salt, but what they're showing looks reasonable even if it's not perfect.

Whattomine.com says that my 1.4GH/s farm would make just $8 a day profit at the increased power draw and reduced hashrate with 15% profits eaten by Norton. I'm actually making $41 a day (an all-time low, actually; Crypto values have taken a pounding in the last month or two.

 

[R-T-B]

You say that, but you're assuming a competent miner algorithm, which Norton is not.

Fair point.

 

[zlobby]

Amen brother.

What exactly are you cheering about?

It won't be banned outside the authoritarian world but further taxation is likely.

Sadly, banks are almost ready with their blockchains and when they launch we're royally screwed.

 

[R-T-B]

Sadly, banks are almost ready with their blockchains and when they launch we're royally screwed.

I don't see why that would screw gamers. Banks aren't exactly going to let you mine.

But it will put the final nail in the dream of crypto freeing us from... anything.

 

[stimpy88]

Please F up nGreedia Intel.

 

[TheinsanegamerN]

It won't be banned outside the authoritarian world but further taxation is likely.

It'll likely be unbanned in those authoritarian countries too when they figure out how to tax it, either that or, in cases like china, they will ban non government (I.E. peasants) entities from using it so they can keep the profits for themselves.

The western world is betting on crypto the same way the east, mainly asia and russia, are betting on gold. Will be interesting to see hwo it plays out.

I don't see why that would screw gamers. Banks aren't exactly going to let you mine.

But it will put the final nail in the dream of crypto freeing us from... anything.

Crypto promised us a release fromt he constraints of the old ways of doing business, but it couldnt free us from the oldest of human vices: greed

What exactly are you cheering about?

People have a serious hard on for hating crypto because either it is screwing the market for their own purchases (which I get, being stuck on a 480 stuck arse) or out of this misaligned hatred for anything that tries to buck the established systems of the world. A LOT of people get bent out of shape when they see some people making a mint outside of the taxable normal people jobs and investments, for some reason, isntead of trying to hop on the train and make some money for themselves. A lot of that I fell is down to fear being a primary response to the unknown or the misundetstood, and crypto is really complicated comapred to traditional financial systems.

 

[Chrispy_]

A LOT of people get bent out of shape when they see some people making a mint outside of the taxable normal people jobs and investments, for some reason, isntead of trying to hop on the train and make some money for themselves. A lot of that I fell is down to fear being a primary response to the unknown or the misundetstood, and crypto is really complicated comapred to traditional financial systems.

This is why I mine.
I as an individual can't stop cryptocurrency from gaining market traction, and it's screwing over my GPU pricing just as much as it is for everyone else here.
My attitude was "if you can't beat them, join them".
Whining about crypto isn't going to fix anything. You can either let it ruin you, or you can use it to gain an advantage.

 

[zlobby]

A lot of that I fell is down to fear being a primary response to the unknown or the misundetstood, and crypto is really complicated comapred to traditional financial systems.

How are crypto more complicated than the current national and international banking and transaction systems (which are closed systems for the most parts)?!?!?

 

[R-T-B]

Crypto promised us a release fromt he constraints of the old ways of doing business, but it couldnt free us from the oldest of human vices: greed

Yeah. Sorry we were so naive. I'm dead serious. The optimism for the future in the early days was real, and it brings tears to my eyes seeing what it has become. We should've known, in hindsight...

How are crypto more complicated than the current national and international banking and transaction systems (which are closed systems for the most parts)?!?!?

It certainly is harder to explain. People really view it as "something that should be worthless, but isn't" without realizing that's exactly what the dollar is, too.

 

[zlobby]

Yeah. Sorry we were so naive. I'm dead serious. The optimism for the future in the early days was real, and it brings tears to my eyes seeing what it has become. We should've known, in hindsight...


It certainly is harder to explain. People really view it as "something that should be worthless, but isn't" without realizing that's exactly what the dollar is, too.

Heavy sigh.

 

[R-T-B]

Heavy sigh.

I just mean "explain to the layman." Very few people have a solid understanding of even traditional banking, truth be told.