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Coinexchange.io is Closing Down

coinexchange.io

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Re: Coinexchange.io is Closing Down

#5

Post by j-pb »

moonbug wrote: post #2

and nothing of value was lost..

I can't wait for the Tulip... err Blockchain hype to die down. Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty.

(And I make that statement after having made a few thousand bucks by mining BTC at 5$ per coin.)

Re: Coinexchange.io is Closing Down

#6

Post by wesammikhail »

ConcernedCoder wrote: post #3

Hey if anyone wants to use their computer spare cycles on something a little more worthwhile ( as far as humanity is concerned ) try: https://foldingathome.org/

This is something that has boggled my mind since 2010 when I first looked at crypto. Why the hell would anyone waste CPU cycles computing some arbitrary hash value that is then ejected as "waste" rather than having the computational workload itself run scientifically important problem and the result of that computation is rewarded with a token? why the hell is everyone using all of this computational power for... nothing of value really?

The main currency in crypto is NOT the tokens/coins you get. It is the CPU cycles. So why the hell are we not putting those to good use? it´s freaking beyond me. Imagine if F@H (or something like it) had the bitcoin network´s power, we could potentially help solve cancer.

Maybe someone can help shed some light on this topic if there is something I´ve missed!

Re: Coinexchange.io is Closing Down

#7

Post by bdcravens »

wesammikhail wrote: post #6
ConcernedCoder wrote: post #3

Hey if anyone wants to use their computer spare cycles on something a little more worthwhile ( as far as humanity is concerned ) try: https://foldingathome.org/

This is something that has boggled my mind since 2010 when I first looked at crypto. Why the hell would anyone waste CPU cycles computing some arbitrary hash value that is then ejected as "waste" rather than having the computational workload itself run scientifically important problem and the result of that computation is rewarded with a token? why the hell is everyone using all of this computational power for... not…

When you encounter your typical Bitcoiner, they'll do logical gymnastics and typically go the playbook, which is to deflect and talk about how much energy banks or treasuries use.

However, the true answer is always greed.

Re: Coinexchange.io is Closing Down

#8

Post by hc91 »

j-pb wrote: post #5
moonbug wrote: post #2

and nothing of value was lost..

I can't wait for the Tulip... err Blockchain hype to die down. Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty. (And I make that statement after having made a few thousand bucks by mining BTC at 5$ per coin.)

Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty.

It is all fun and games until you realise this is NOT a metaphor and that shitcoin does indeed consume as much energy as a country.

Re: Coinexchange.io is Closing Down

#9

Post by koolba »

wesammikhail wrote: post #6
ConcernedCoder wrote: post #3

Hey if anyone wants to use their computer spare cycles on something a little more worthwhile ( as far as humanity is concerned ) try: https://foldingathome.org/

This is something that has boggled my mind since 2010 when I first looked at crypto. Why the hell would anyone waste CPU cycles computing some arbitrary hash value that is then ejected as "waste" rather than having the computational workload itself run scientifically important problem and the result of that computation is rewarded with a token? why the hell is everyone using all of this computational power for... not…

Can you give an example of a scientifically important problem that can be massively distributed in its calculation yet quick to verify?

The second part of that is the real hitch for mining. You must throw tons of CPU to "mine" the hash but it's a single evaluation to verify it for the proof.

Re: Coinexchange.io is Closing Down

#10

Post by helpPeople »

j-pb wrote: post #5
moonbug wrote: post #2

and nothing of value was lost..

I can't wait for the Tulip... err Blockchain hype to die down. Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty. (And I make that statement after having made a few thousand bucks by mining BTC at 5$ per coin.)

Anyone who calls it a tulip isn't taken seriously.

I don't believe in the hype of altcoins, but I do see the problems Bitcoin solves.

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