81–90 of 162 posts
This is great news. I can't wait until people realize that Ethereum is a largely useless network and GPUs rain down like manna from the heavens.
its useful for conducting unregulated securities offerings and launching dapps. i just haven't found any useful dapps yet. dapps are mostly used when you need censorship resistant functionality.
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Right, those are good numbers for the price, comparable to the 1080 Ti, so this bodes well for using them for mining... however we will have to see if there are any gotchas (the access patterns for mining are different than for games, so for instance GDDR5X was less effective than GDDR5 despite being theoretically faster.)
Was that due to increased latency?
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Right, those are good numbers for the price, comparable to the 1080 Ti, so this bodes well for using them for mining... however we will have to see if there are any gotchas (the access patterns for mining are different than for games, so for instance GDDR5X was less effective than GDDR5 despite being theoretically faster.)
Was that due to increased latency?
Imagine all these people wasting time, energy and power, the last of which is a crime against the environment and an affront to good sense at a time of global concern. But when it comes to money, greed and self interest always triumph and there will be dozens stretching logic and apologism as far as it can go. 'Proof of work' has to the most hare-brained, wasteful, anti-environment scheme ever thought of. Responsible…
Yet, here we are - wasting resources to post trivialities online. Their consumption is generating value, yet our comments are just yelling into the wind.
A centralised service like HN on the other hand could be designed to scale linearly with the amount of hardware resources.
Edit: Now that I think about it I wouldn't be surprised if someone makes a cryptocurrency based around "digging holes" keynesian style. I've even found a name for it: captchacoin.
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You severly underestimate the number of GPUs mining other cryptos. For example ZEC has half a million GPUs right now (200 MSol/s).
I'm not sure what your point is. Do a similar calculation for the ETH difficulty and there are a lot more GPUs mining ETH....which are going to crowd into ZEC and ETC. IF you have 10,000 GPUS mining ETH and you have to move them in a few months, are you going to now be adding another 1,000 GPUS?
Also you seemed to assume this airplane-load of GPUs is meant for Ethereum, but Genesis Mining (the miner who rented a 747) already mine ZEC and other alts.
Finally, I would wager there are probably more (at least as many) GPUs mining all other coins combined than GPUs mining Ethereum (2 millions or so).
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Yet, here we are - wasting resources to post trivialities online. Their consumption is generating value, yet our comments are just yelling into the wind.
Proof of Work is inefficient by design. The transaction speed of the entire network is equivalent to that of an average node. Adding more hardware increases inefficiency. A centralised service like HN on the other hand could be designed to scale linearly with the amount of hardware resources. Edit: Now that I think about it I wouldn't be surprised if someone makes a cryptocurrency based around "digging holes" keynesi…
Hell, I don't even expect you to agree with me. I'm just posting to speak my point of view and amuse myself. This conversation is pretty much the most wasteful thing we are going to do today.
Real life is less utilitarian than many people wish. Even if our conversation is more efficient, it generates not one bit of value - at least financially. It does amuse me, but I'm not really sure that's very valuable.
I think this is a general shortcoming of proof-of-work. I wonder if this could be fixed with a different scheme, e.g. reputation-based, or proof-of-(something socially desirable and not centralizable)?
It's a bit sad that cryptocurrencies tend to encourage concentration and centralisation. It's very hard for an individual to take part and earn if you "miss the time". And the negative side effects are large, like energy expense, or selling out of GPUs. I think this is a general shortcoming of proof-of-work. I wonder if this could be fixed with a different scheme, e.g. reputation-based, or proof-of-(something sociall…
But you can still "take part" by using it for what it actually is - a currency.
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> It is even worse than Gold because you can't just hold when market crash. Could you elaborate?
What good are your altcoins when the developers/miners give up on the project? A bar of gold is always a bar of gold, no matter what the price of gold is.
It's a bit sad that cryptocurrencies tend to encourage concentration and centralisation. It's very hard for an individual to take part and earn if you "miss the time". And the negative side effects are large, like energy expense, or selling out of GPUs. I think this is a general shortcoming of proof-of-work. I wonder if this could be fixed with a different scheme, e.g. reputation-based, or proof-of-(something sociall…