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Could cryptocurrency mining kill online advertising?

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Re: Could cryptocurrency mining kill online advertising?

#41

Post by wolco »

Never because if everyone adopted this the difficulty rating would go up by a factor of everyone.

Currently it will take you two years of one the newer computers running constantly to even meet half of the min payout on coinhive.

The more people the greater the difficulity. Lose-lose for everyone.

Ads are great. The current trend against them is shortsighted. Without ads we would be paying for content in walled gardens with less share-ability. Content would he hoarded and tokenized as opposited to widely shared.

Out of the 60 top thread would you micropay to read them all? No but someone does for each one and writes a summary in the comments. Lose-lose because the site gets less money/traffic the readers rely on secondhand information and no one is better off aside from the micropayment provider who takes a cut.

Re: Could cryptocurrency mining kill online advertising?

#42

Post by aspenmayer »

jstanley wrote: post #21
ColanR wrote: post #19

Earlier quoted context omitted.

That's not actually true - some coins are designed to be used on "commodity hardware". Monero is one, and it's what Coinbase uses. Last I counted, my estimate on profitability was 0.006 cents / computer / minute. https://www.reddit.com/r/Monero/comments/62m5mu/eli5_why_can...

In what way does Coinbase use Monero?

I think they meant Coinhive. https://coinhive.com

Re: Could cryptocurrency mining kill online advertising?

#43

Post by steeleduncan »

olegkikin wrote: post #35
3pt14159 wrote: post #24

Disclosure: I own Bitcoin, Dash, and Sia, but I've sold most of my Bitcoin. I'm surprised I even have to spell this out for people, but here goes: Mining stops the double spend problem just like market makers solve the liquidity problem: A little bit is great, but at scale it's divorced from the public good it provides. We don't need the amount of mining that is going on in Bitcoin right now. It's just wasted cycles…

Nobody would mine bitcoin in the browser in their right mind, it's a waste of resources. You would choose one of the coins made specifically for CPU/GPU mining only, no ASICs.

Mining doesn't have to be a cost efficient use of cpu cycles for the person browsing for this to catch on, it just needs to be a more cost efficient use of bandwidth and server power for the entity serving the ads.

Bitcoins are the consistently valuable and liquid coin, therefore it can make sense to serve bitcoin mining js.

Re: Could cryptocurrency mining kill online advertising?

#44

Post by mitchty »

steeleduncan wrote: post #43
olegkikin wrote: post #35

Earlier quoted context omitted.

Nobody would mine bitcoin in the browser in their right mind, it's a waste of resources. You would choose one of the coins made specifically for CPU/GPU mining only, no ASICs.

Mining doesn't have to be a cost efficient use of cpu cycles for the person browsing for this to catch on, it just needs to be a more cost efficient use of bandwidth and server power for the entity serving the ads. Bitcoins are the consistently valuable and liquid coin, therefore it can make sense to serve bitcoin mining js.

If this ever catches on, i have even more reason to disable all javascript while browsing on my laptop and on battery.

As it is javascript is the number one reason for shit battery life, I don't want to make that even worse than the days of flash which its rapidly already become today.

Re: Could cryptocurrency mining kill online advertising?

#45

Post by wmurmann »

mitchty wrote: post #44
steeleduncan wrote: post #43

Earlier quoted context omitted.

Mining doesn't have to be a cost efficient use of cpu cycles for the person browsing for this to catch on, it just needs to be a more cost efficient use of bandwidth and server power for the entity serving the ads. Bitcoins are the consistently valuable and liquid coin, therefore it can make sense to serve bitcoin mining js.

If this ever catches on, i have even more reason to disable all javascript while browsing on my laptop and on battery. As it is javascript is the number one reason for shit battery life, I don't want to make that even worse than the days of flash which its rapidly already become today.

Better off just closing your laptop then, as most sites rely heavily on JavaScript.

Re: Could cryptocurrency mining kill online advertising?

#46

Post by mitchty »

wmurmann wrote: post #45
mitchty wrote: post #44

Earlier quoted context omitted.

If this ever catches on, i have even more reason to disable all javascript while browsing on my laptop and on battery. As it is javascript is the number one reason for shit battery life, I don't want to make that even worse than the days of flash which its rapidly already become today.

Better off just closing your laptop then, as most sites rely heavily on JavaScript.

Really? My choice for the "modern" web is: no battery life or no web?

Faustian bargains like that aren't a great definition of progress.

Re: Could cryptocurrency mining kill online advertising?

#47

Post by beaner »

3pt14159 wrote: post #24

Disclosure: I own Bitcoin, Dash, and Sia, but I've sold most of my Bitcoin. I'm surprised I even have to spell this out for people, but here goes: Mining stops the double spend problem just like market makers solve the liquidity problem: A little bit is great, but at scale it's divorced from the public good it provides. We don't need the amount of mining that is going on in Bitcoin right now. It's just wasted cycles…

Advertising will never go away. You pay for cable, yet cable still has ads. Micropayments could potentially be adopted as a short-term alternative, but if it were ever to become the status quo, publishers would just start adding advertisements on top. Then we'd have a system where we both pay money directly, and also have ads, which would be worse.

Re: Could cryptocurrency mining kill online advertising?

#48

Post by gruez »

mitchty wrote: post #44
steeleduncan wrote: post #43

Earlier quoted context omitted.

Mining doesn't have to be a cost efficient use of cpu cycles for the person browsing for this to catch on, it just needs to be a more cost efficient use of bandwidth and server power for the entity serving the ads. Bitcoins are the consistently valuable and liquid coin, therefore it can make sense to serve bitcoin mining js.

If this ever catches on, i have even more reason to disable all javascript while browsing on my laptop and on battery. As it is javascript is the number one reason for shit battery life, I don't want to make that even worse than the days of flash which its rapidly already become today.

until you hit SPA sites that need javascript to work.

Re: Could cryptocurrency mining kill online advertising?

#49

Post by stale2002 »

hollander wrote: post #14
thinkloop wrote: post #11

Like others have mentioned, the economics are not good, mining is too competitive to be done on commodity hardware. Consider that over half of browsing now happens on mobile, and it becomes clear that very few people can participate.

Who cares if it's not economical on commodity hardware, be it a smartphone or not. If I have a website that is visited by enough people to mine me a (part of a) bitcoin, while at the same time the cost of hosting the site is less than what is earned, what does it matter if the mining power is not efficient? If I care more about money than about environment, it's a good business model. But you probably need a lot of v…

You could have a hundred billion smartphones mining Bitcoin via you website and you wouldn't make a single dollar from it.

Re: Could cryptocurrency mining kill online advertising?

#50

Post by zeep »

maltalex wrote: post #36

Although outraged by the idea at first, I have to say that there are some benefits here: 0. This starves the advertising industry, which has insatiable apatite for private information, and questionable practices of obtaining it. 1. Payment is done using only CPU power and you electric bill which are private, and the process itself could be made secure and efficient by incorporating it into browsers. 2. Sites no longe…

> 1. Payment is done using only CPU power and you electric bill which are private, and the process itself could be made secure and efficient by incorporating it into browsers.

Not really private... my electric meter broadcasts my power consumption in plain text on the 900MHz ISM band every minute... I used this program to read the meters of all my neighbors: https://github.com/bemasher/rtlamr ... You probably also can buy the data from the power companies...

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