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Earlier quoted context omitted.
If you have to pay $50k in electricity to mine a $40k bitcoin, it would be better to just turn off the mine and buy the bitcoin directly.
Not if you have all that money tied up in an old mining rig which has close to zero resale value.
Earlier quoted context omitted.
Can't graphics cards still be used profitably to mine other cryptocurrencies though? I don't follow this stuff too closely but my understanding is that graphics card prices are a good indicator here, and that GPU-powered mining is still acting to drive up prices.
GPU mining is currently concentrated on ETH, which is changing (EIP 1559) mid-July (and then later this year). The GPU market will change (and already is) dramatically after that. Many are still in denial, hoping there will be "another coin" to mine. Or, they're just spreading false hope to give them time to dump their hardware.
Earlier quoted context omitted.
If you have to pay $50k in electricity to mine a $40k bitcoin, it would be better to just turn off the mine and buy the bitcoin directly.
Not if you have all that money tied up in an old mining rig which has close to zero resale value.
"Detectives said they were tipped off about lots of people visiting the unit throughout the day and a police drone picked up a lot of heat coming from the building." Does that imply a drone with infrared capabilities?
...one has to wonder also why they needed to keep visiting the place once they set everything up.
Earlier quoted context omitted.
Can't graphics cards still be used profitably to mine other cryptocurrencies though? I don't follow this stuff too closely but my understanding is that graphics card prices are a good indicator here, and that GPU-powered mining is still acting to drive up prices.
GPU mining is currently concentrated on ETH, which is changing (EIP 1559) mid-July (and then later this year). The GPU market will change (and already is) dramatically after that. Many are still in denial, hoping there will be "another coin" to mine. Or, they're just spreading false hope to give them time to dump their hardware.
I don't think this is the first time I've read of a substantial change being made to a cryptocurrency. Doesn't this kind of thing completely belie the usual claim that it's free from central control?
> Many are still in denial, hoping there will be "another coin" to mine.
Again I don't follow this stuff that closely, but this doesn't seem absurd on the face of it. Is there a reason to think this won't happen?
Earlier quoted context omitted.
If you have to pay $50k in electricity to mine a $40k bitcoin, it would be better to just turn off the mine and buy the bitcoin directly.
Not if you have all that money tied up in an old mining rig which has close to zero resale value.
Based on heat and people coming and going, police assumed it was a cannabis farm . Based on that incorrect conclusion, they raided the place. Flimsy evidence.
Police suspect a cocaine dealer and raid the place.
However : the dealer was selling heroine.
Flimsy evidence?
Earlier quoted context omitted.
The heat thing is even more ridiculous, given that farmers have shifted to LED lighting for years now precisely to avoid heat emission that can be picked up by police copters...
The power still ends up as heat; LEDs just mean that less of it is wasted.