391–400 of 520 posts
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That's not exactly the same because vehicles are essential for everyday life (commuting), whereas GPUs aren't.
GPUs are essential for a few jobs that are essential to our society. They're not just for games.
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Btc mining only works on asics. You can mine ethereum on gpu’s. NiceHash rents your hash rate to buyers, you mine ethereum, while they pay your rewards in btc. If you want ethereum directly, you can mine for a pool like ethermine or flexpool.
The link directly contradicts this. Pooled mining with BTC (ETH too, but also BTC) on a GPU is something you can do and make a modest amount of money right now, to the tune of around $5/day at current prices. There's a profitability floor on hashes/KWh. When coin's price goes as sky-high as it has been, it pushed GPU mining back into the black. This is likely a temporary state of affairs; either the network difficult…
I wonder if open source drivers will eventually circumvent this limit?
I was curious if the mining algorithms could be tweaked to avoid detection.
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I checked your numbers against [0]. Road distance NY -> SF = 2900 miles [1]. Model S mileage is 290Wh/mi [2]. That is 840kW for Tesla against 657kW for a single transaction. This is all order-of-magnitude stuff but... wow. [0] https://digiconomist.net/bitcoin-energy-consumption/ [1] https://www.google.com/search?hl=en&q=road%20distance%20san%... [2] https://www.zeviecars.com/browse-cars/tesla-model-s
Can someone explain how transactions are not insanely cost prohibitive for Bitcoin with power consumption figures like those? Those numbers would suggest something like >20 USD. Is it because most transactions in practice actually happen internally on exchanges that avoid putting every individual transaction on the blockchain? I have limited knowledge of Bitcoin so maybe not quite "explain like I'm five"... but close…
Once someone finds a winning block, they're rewarded with a number of Bitcoin. This subsidies the cost that goes into mining that block. However the reward halves after every 210k blocks, so as the reward goes down, miners will prefer to only include transactions with high fee. Eventually the true cost of mining will reflect in the transaction fee.
And to add to the "it costs 657.6kWh to process a transaction": energy is used to produce a block, which contains an arbitrarily defined number of transactions. Right now, Bitcoin Core limits each block to 1MB, which works out to about 2k transactions per block. If Bitcoin Core were to increase the limit to say 10MB, the energy used to produce a block doesn't change, but the energy used to process a transaction goes down tenfold.
GPU mining is going to become much less attractive this year due to Ethereum moving to Proof of Stake, right? If this is the case (perhaps an expert can chime in) - it makes sense to limit the hash rate now, to prevent these cards being dumped later this year? And to redirect miners towards higher-margin products in the meantime, whilst ensuring better supply for gamers (who are the actual long-term customers).
The ETH2 'beacon chain' is a meta-chain that's supposed to checkpoint a bunch of 'sub chains' for scalability. But they have launched it with many big questions unanswered. What does a 'sub chain' actually look like to interact with? How do you coordinate with many of them? All these questions have answers in theory, but not answers in solid production ready interoperable code. Furthermore some of these problems like…
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Gamers will generally try to avoid buying preowned graphics cards that have been used for mining. Running them 24/7 at full pelt tends to “age” they quicker than one that’s just been used for gaming.
That is not quite true. Miners that know what they're doing will undervolt their cards in order to improve power efficiency, which makes cards run cooler and at lower power.
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Because cryptocurrency mining is now one of the biggest contributors to climate change. It is killing the planet. It is a moral imperiative to shut it down by any means necessary.
How did you reach this conclusion? Do you have some sources and numbers? https://ourworldindata.org/grapher/global-energy-substitutio... puts the latest number at 173,340 TWh in 2019. This is an underestimate for the current value as energy consumption has been increasing. https://cbeci.org/ estimates the annualised consumption based on a 7 day moving average of 120.87 TWh for bitcoin. To be generous let's assume all…
Right here it says `20 863 TWh` which is nearly 10 times your worst case.
I have no sympathy for miners, but purely from software freedom perspective this is maximally evil: closed-source software that decides what you can use your hardware for. The CMP version is a straight-to-landfill product. As soon as it stops being profitable for mining it will have zero resale value, and become e-waste.
> The CMP version is a straight-to-landfill product. As soon as it stops being profitable for mining it will have zero resale value, and become e-waste. Like literally every other piece of Bitcoin or crypto mining technology. It’s straight to the landfill every 6 months. Bitcoin generates 100 GRAMS of ewaste for every transaction. Every 2 transactions consumes as much energy as driving a Tesla from SF to NY [edit for…
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> The CMP version is a straight-to-landfill product. As soon as it stops being profitable for mining it will have zero resale value, and become e-waste. Like literally every other piece of Bitcoin or crypto mining technology. It’s straight to the landfill every 6 months. Bitcoin generates 100 GRAMS of ewaste for every transaction. Every 2 transactions consumes as much energy as driving a Tesla from SF to NY [edit for…
No. It's time to push back on Bitcoin. It is disgraceful to watch people such as Elon Musk and most of the VCs put money ahead of the environment.
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Btc mining only works on asics. You can mine ethereum on gpu’s. NiceHash rents your hash rate to buyers, you mine ethereum, while they pay your rewards in btc. If you want ethereum directly, you can mine for a pool like ethermine or flexpool.
>Btc mining only works on asics. No, you can mine Bitcoin on your GPU or CPU. It will work.
Go mine Ethereum or Monero instead.