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BitCoen: it's a lot like taking a pile of money, burying it in the middle of nowhere, and losing it forever
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Aug 11, 2017 22:19
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reading through the last 2 months of this thread was a real hoot1gnoirents posted:Last time we had a massive backlog that cleared the price of buttcoin went up $10000 *bitcoin crashes* 1gnoirents posted:If i were brave and had money id be buying a big chunk
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Jan 2, 2018 13:01
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Don Lapre posted:Tether is supposed to be a crypto traded in place of USD on an exchange. The claim is it will always be worth $1 for 1 tether. They accomplish this by (according to them) keeping a reserve of $1 for every 1 tether "printed" and they keep the value by buying tether when it drops below $1 and selling when it goes above $1 also tether is what they created after their exchange got hacked and robbed of 120k bitcoins worth $72 million literally "hey guys we lost all your money but here are some magic beans in replacement, each bean is guaranteed to be worth $1, trust us." followed by "holy poo poo guys they bought it, quick sell them more beans!" owning any amount of tether, or really having any quantity of money or shitcoin assets on the bitfinex exchange at all, is risking yourself as a bag-holder
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Feb 4, 2018 08:17
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DrDork posted:And no one's disagreeing. Which is why everyone has been harping on how no one should be hodling anything, no one should be investing in hardware just to mine, no one should be buying coins with cash, but rather should be cashing out on a regular basis and be fully prepared to watch any coins they're sitting on rapidly shoot to $0. it's not sour grapes. it's a guy boasting on the internet about how much money he made and insisting he's very smart. which is just the most worthless poo poo ever. also if you made thousands of dollars kick a little back to the 'taxman and buy yourself an avatar. bragging about money when you're wearing a newbie trump av, very Sad!
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Feb 6, 2018 20:00
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Zero VGS posted:they don't put you in jail if you leave your Wifi router without a password and someone else uses it illegally either. If you manage to prove it wasn't you, yeah. But meanwhile you had to hire a lawyer to defend yourself. Similarly, if you are running buttcoin storage on your computer and Joe Pedophile happens to store his CP with you, maybe some FBI agents bust down your door and carry away every PC, hard disk, USB drive, and other scrap of writable media in your house. "B-b-b-but, please Mr FBI Agent," you say, after you get done making GBS threads yourself, "when will I get my computer back?" "After trial and all possible appeals, so like 5 to 8 years kid," the sneering agent informs you, while handing you a form to fill out entitling you to fair compensation. You later find out that fair compensation is a $400 dell, because it qualifies as 'a computer'.
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Feb 22, 2018 02:53
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The Cryptocurrency Mining Thread: sunk burrito fallacy
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Feb 22, 2018 19:00
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"Bring me evidence of something that's near-impossible to collect evidence of!" At the very least the fans on an ex-buttminer card are gonna be impacted, even if none of the solid-state stuff is. DrDork posted:Also that 3 year warranty is pretty great at solving the issue of getting a hosed up card--sure, it's obnoxious, but if you're saving $300+ then I'd imagine a lot of people would be willing to deal with the hassle. It's only $300 off if you're starting from the retarded markup prices that cards have been selling for. Which is still a pretty poo poo deal, whether or not the card has shortened lifespan from buttmining. And the warranty is gonna be a lot less than 3 years -- first you're going by their SN system rather than proof of purchase so chop a couple months off there, second it's used so however long the previous owner had it for. IMO used PC hardware in general is not worth the bother because, unlike a car, the discounts are tiny. Always has been. For some reason people are absolutely fine paying $195 for a 2 year old used part if it performs the same as the $200 new thing. I've never understood it.
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Mar 1, 2018 20:45
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lol @ miners rationalizing anyways the big dumps don't seem to be happening yet, 1070s are still selling for $600-ish on ebay. we'll see how reliability looks in 6 months after the next gen nvidia cards have come out.
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Mar 1, 2018 23:06
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Comfy Fleece Sweater posted:poo poo that’s awesome - mining for useful* stuff, and for free burritos, why not * welllll, more useful than digital wooden nickels anyways. probably.
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Mar 24, 2018 05:16
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QuarkJets posted:8x 1060s, the card most people in this thread have been like "nah not worth the hassle for <$1/day" also the card which is going to have the biggest fall in resell value when next gen cards come out if they paid more than about $300 per card for that setup they're gonna lose their shirts, new 1060s are staying in stock at $350 and trending downwards.
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Mar 31, 2018 16:18
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between these 3 things: - nvidia is under zero pressure from AMD at the moment - they can still sell every desktop GPU they make due to all the unmet demand pent up from the past year - they can sell their new volta chips to AI people for astronomical prices I think the 2080 (or whatever) could get kicked down the road even past summer. Selling a 1080ti now is amazing if you want to get the next high-end card for free, but only if you have something else decent to use for a while. (I can think of one reason to announce the 2080 sooner rather than later: it instantly devalues the used cards still in the hands of cryptominers -- who aren't repeat customers -- rather than having gamers buy at inflated prices then not want to buy a next-gen card right away. But triggering a dump to the used market would also hurt their board partners so maybe not a great plan.)
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Apr 5, 2018 21:03
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Methylethylaldehyde posted:On the one hand, millions of dollars. On the other hand, always being aware that someone might stab you to death for those millions. on the third hand, the secure knowledge that the people you conned are complete idiots who fell for an assumed name and fake pictures on twitter
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Apr 19, 2018 03:38
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small taco, beans & rice only
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Apr 29, 2018 01:39
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QuarkJets posted:$2 gets you four tacos and hepatitis at jack in the box
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Apr 29, 2018 03:12
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1gnoirents posted:The ROI is too bad and despite the uncertainty of when exactly, we are on the verge of a new release. I do find all these reports very puzzling considering the pricing of GPUs. If there really is a massive surplus in inventory... why not put them on sale? Even a minor sale would cause a frenzy. The current pricing is still higher than it was a year a half ago. The cryptocurrency buying bonanza really ended months ago yet supply was very short up until recently... and now hundreds of thousands of cards being returned by distributors? Maybe its just bullshit stemming from some guy who wants everybody to short stocks You're starting to see sales that are down in the historic lows, like just a few days ago there was a 1060 6gb for $230. Which is the lowest they've been since 2016, which was when the 480 came out and there was actual competition to lower the price. The stock on shelves now was probably made with components purchased for elevated prices. Nobody wants to sell at a loss if they can help it. If the story about truckloads of GPUs being returned to nvidia is true, that's probably a deal that nvidia offered them. Nvidia doesn't want prices to fall like a rock, they want the current prices to be the new "normal" for the next generation.
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Jun 22, 2018 00:14
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Zero VGS posted:Is this really a thing though? I mean why would NVidia agree to take back chips they already sold, when everyone understands the market is so volatile? most likely it is in their contract. an OEM doesn't just call up nvidia and buy a million chips for cash. they sign big contracts about sales and they may have the ability to return excess supply just like retail stores can return unsold product in many cases.
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Jun 26, 2018 10:57
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mining on the
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Jul 1, 2018 09:34
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| # ¿ Apr 26, 2024 23:44 |
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latinotwink1997 posted:Are ASICs just going to basically kill crypto altogether? you need holy water and a steak to kill crypto
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Aug 26, 2018 16:54
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