Earlier quoted context omitted.
Good for Xbox and PlayStation which are screaming deals right now.
Can you rob the video card out of them?
They pretty much use Radeon HD 7870s, though...
Bitcoin backlash as ‘miners’ stress power grids in Central Washington
251–260 of 278 posts
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#252It's hard to explain the levels of stupidity in this. - people trading 'coins' in the same way Pokemon / WWF kids trade cards. - thinking this is actually a long-term 'investment' strategy (well its idiots trading with each other ...) - to top it off, siphoning off electricity and giving a load of shitty excuses 'it could be like Seattle's. I don't know where to begin with this Bitcoin crap; it's gotten crazy that so…
People have and are using bitcoin in legal transactions. Legitimate companies accept it, legitimate customers pay using it, and legitimate products are traded for it. This is reality. If all you want to continue posting emotional comments on how much you hate bitcoin, then by all means I wont stop you. but to attempt to dismiss the currency as a toy strikes me as delusional and a bit sad. Approach this issue (and any…
What is the ratio of " Legitimate companies accept it, legitimate customers pay using it, and legitimate products are traded for it." to people using it for money laundering, ransomware and other illegitimate activities. Ransomware would probably not exist if it wasn't for cryptocurrencies.
Add the power usage, the graphic card shortage and the illegal activities and I suspect you're two to three order of magnitude larger than legitimate uses. Sooner or later cryptocurrencies will get banned, or at least fully regulated.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#253Earlier quoted context omitted.
Why shouldn't people who live in an area receive a dividend from the resource wealth of that area? Property owners in cities receive similar dividends all the time, in the form of rising property prices.
Why should people who are lucky to live near a hydro plant get cheaper power than some one who doesn't should it not be shared across the nation
Because there's a cost in money and efficiency to transmitting power across large distances.
It's the same reason for why groceries in Alaska are more expensive then groceries in Florida.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#254Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#255Earlier quoted context omitted.
It's not exactly snake oil because you used to be able to buy thinks with it. It's just become snake oil. Maybe that's pedantic, but I don't think it would have become large if it hadn't initially been on a path towards being useful as a currency.
You can still buy things with it. The only thing that has really changed is way more people are speculating on it than before, and that's revealing some serious scalability problems with the blockchain and security/trust problems with the exchanges.
Everything I buy except for maybe my mortgage, I decide to buy it and expect that within moments the payment will go through. I expect it to be cash-like in ease and quickness. For a while bitcoin looked to be headed that way, but no longer.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#256Earlier quoted context omitted.
It's not exactly snake oil because you used to be able to buy thinks with it. It's just become snake oil. Maybe that's pedantic, but I don't think it would have become large if it hadn't initially been on a path towards being useful as a currency.
Snake oil has actual medical benefits. It wouldn't have become a widely known fake cure-all ripoff if it hadn't initially been useful as a medicine.
Oh cool. TIL, thanks. Seems like a kinda perfect analogy then.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#257Earlier quoted context omitted.
If it’s a public municipal utility, any dividend in lieu of price reductions, should go to the local government, not the individual residents. The local government could then issue out checks to everyone if they want, but more likely it would go towards general budget and benefit everyone.
I wouldn't be fussy about the rebate mechanism but funding a government based on energy prices can also be a tricky business - but even a poorly managed local government subsidised by energy exports is far better than local energy consumption subsidised by energy exports.
Yes, nonzero chance they'd sell off the revenue stream for pennies on the dollar to some private financiers to stopgap irresponsible deficit spending.
See Chicago for an incredible example of this:
https://chicago.suntimes.com/news/parking-meters-garages-too...
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#258Earlier quoted context omitted.
It's irrelevant what the customer wants to use the electricity for. The increase in electric cars is already challenging how we manage our power grids. If it's in demand, charge more.
The only correct response. Lasing out against noise or heat I can understand, but unless electricity is being subsidized, I can't fathom the line of logic people take to justify lashing out against how someone chooses to use electricity they're pay for. I suspect it's due to irrational hate rather than sound reasoning.
Well, we know that electricity is subsidized in many ways, see coal, petroleum or solar power for examples.
Furthermore, electricity prices do no include environmental externalities. So when you burn so much electricity for things that many people deem wasteful, those people do have reasons to get pissed and yell at you in the internet. Wellcome to modern society!
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#259Earlier quoted context omitted.
My thoughts too. In the UK you would have to apply to the local authority for 'change of use' planning consent. Even changing between different classes of commercial use requires consent. This gets posted on the gate outside and in the local press. Anyone is free to write in and make their point known. Finally an official makes a recommendation to a committee of elected representatives at an open meeting. If approved…
And that’s ridiculous. Me working on my computer in my house paying the asking rate for the electricity is really none of the business of my neighbors. It isn’t like someone is running a hair salon or a day care center where there could be traffic/disruption concerns.
What is ridiculous is reducing things to the absurd, of you can work on a computer in your house without planning permission! A remote worker can work from home. You just can't run a server farm, or have other people coming round to work there. The point is a normal home may have an office, and using that office to work is no different to using it for your household admin.
A normal home does not have a server room however.
Re: Bitcoin backlash as ‘miners’ stress power grids in Central Washington
#260Earlier quoted context omitted.
Running industrial equipment off your local residential power grid is both against the terms and conditions of every power company under the sun and also incredibly stupid to do.
A few asics is not industrial equipment. Oh please.
How many is "a few"? What if you were running 300 of them?
The term "industrial" usually applies to scale.