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Crypto Mining Machines

Servyl

Dweeby kitter
My dad brought home a Crypto mining machine not too long ago. I'll be honest, I'm not too familiar with the mechanics. I think it just generates Crypto all day? Namely Ravencoin and ETH is what we've settled with thus far.

If any of you have a machine like this or just want to talk about Crypto generating/mining, spam away at this thread. I truly do find Crypto pretty interesting. xD
 

ben909

vaporeon character != mushroom characters
its a power hungry pice of data that big investors have tricked the world into thinking that it has great value so they can sell the shit to us
 

Lordgwen

TOO THE MOON (LORD) AND BACK!
I caan give you guys my netherite pickaxe if it helps!
 

Smityyyy

Racc Man
Crypto is largely a scam and would never work as a currency other than it being used to buy illegal products.
 

Inferndragon

Dragon Doodler with a Tail Snake
As of right now. It isn't worthwhile to use a machine to generate your own crypto-currencies
Since you are mining Ethereum it will use 186.47 kWh to do 1 Ethereum transaction. A carbonfoot print of 104 kgCO2

It's pretty bad tbh
 

Green_Brick

Krita user
Personally, even with an FHR GPU, unless the electricity rates are really cheap in your area, or unless you have solar panels connected to your dwelling to help offset the cost, I do not think it's worthwhile. The only exception is perhaps maybe in the wintertime when it could potentially help you offset your electric/gas bill a bit to have it heat up your place. But... that doesn't change the fact that it's still consuming a lot of electricity.
 

Frank Gulotta

Send us your floppy
Isn't it a bit sus that everyone is jumping on the "crypto mining machines have a huge carbon footprint" bandwagon after a dictatorship notorious for disliking stuff outside of its control said so (but their urban mega-projects that nobody will ever inhabit are fine somehow...?), and that whole "calculate your carbon footprint" shit was started by British Petroleum?

It's all always the same, if it's not about the monay it's about the power and if it's not about the power it's about the monay.
 

Green_Brick

Krita user
Heh, the Gulf of Mexico would like a word with them~
 

Lioedevon427

Very tired animator
Ignoring the environmental style idk if it’s a good investment because the crypto market is utterly crashing from what I’ve heard at the moment. I really don’t think that the crypto themed Web 3 is going to ever happen
 

Smityyyy

Racc Man
Ignoring the environmental style idk if it’s a good investment because the crypto market is utterly crashing from what I’ve heard at the moment. I really don’t think that the crypto themed Web 3 is going to ever happen

It’s not and it’s never was going to. People who don’t really have a background in Econ and/or finance got massively scammed by this whole crypto business. Crypto was developed, big people invested a ton, they marketed it everywhere because the more people who bought in — the bigger bag they could cash out with, and then they pulled out and shit crashed.

That’s not even counting the amount of rug pulls that came and went near instantly. These people funded numerous campaigns to encourage people to throw their life’s savings into crypto under this false promise of some special “Web3” or that “crypto is the future of currency” despite it being completely impossible to use crypto as a country’s central currency… but again these are people who don’t have a background in economics so it’s unsurprising they were able to be fooled into this idea.

And now, we’re here. People will continue to invest in this useless currency (except for a couple things like bypassing a country’s laws on payment or to buy black market) and whales will continue funding campaigns to lie to hopeful people about how “crypto is the future” when it’s almost completely just a scam. A very, very tiny fraction who buy in near instantly might get a generous cut, but this is akin to literally gambling. After all, who’s to say the new currency you just invested in isn’t just another rug pull?

If people want to invest, I recommend going over a basic course in Econ and Finance. Learn about stock and the stock market. Invest there. Stop wasting your time on a scam and put your money into something that actually has returns.

Don’t be fooled by the whales who have the highest investments in these coins.
 

Lioedevon427

Very tired animator
It’s not and it’s never was going to. People who don’t really have a background in Econ and/or finance got massively scammed by this whole crypto business. Crypto was developed, big people invested a ton, they marketed it everywhere because the more people who bought in — the bigger bag they could cash out with, and then they pulled out and shit crashed.

That’s not even counting the amount of rug pulls that came and went near instantly. These people funded numerous campaigns to encourage people to throw their life’s savings into crypto under this false promise of some special “Web3” or that “crypto is the future of currency” despite it being completely impossible to use crypto as a country’s central currency… but again these are people who don’t have a background in economics so it’s unsurprising they were able to be fooled into this idea.

And now, we’re here. People will continue to invest in this useless currency (except for a couple things like bypassing a country’s laws on payment or to buy black market) and whales will continue funding campaigns to lie to hopeful people about how “crypto is the future” when it’s almost completely just a scam. A very, very tiny fraction who buy in near instantly might get a generous cut, but this is akin to literally gambling. After all, who’s to say the new currency you just invested in isn’t just another rug pull?

If people want to invest, I recommend going over a basic course in Econ and Finance. Learn about stock and the stock market. Invest there. Stop wasting your time on a scam and put your money into something that actually has returns.

Don’t be fooled by the whales who have the highest investments in these coins.
1000% I don’t know much about finance but from what I’ve seen the entire crypto and especially NFT market scream pyramid scheme to me. It’s actually kinda funny to me seeing as how many of the NFTs are of ugly anthro characters when a huge amount of furries are programmers and finance people and could tell you it’s a scam
 

Pomorek

Antelope-Addicted Hyena
It’s not and it’s never was going to. People who don’t really have a background in Econ and/or finance got massively scammed by this whole crypto business. Crypto was developed, big people invested a ton, they marketed it everywhere because the more people who bought in — the bigger bag they could cash out with, and then they pulled out and shit crashed.

That’s not even counting the amount of rug pulls that came and went near instantly. These people funded numerous campaigns to encourage people to throw their life’s savings into crypto under this false promise of some special “Web3” or that “crypto is the future of currency” despite it being completely impossible to use crypto as a country’s central currency… but again these are people who don’t have a background in economics so it’s unsurprising they were able to be fooled into this idea.

And now, we’re here. People will continue to invest in this useless currency (except for a couple things like bypassing a country’s laws on payment or to buy black market) and whales will continue funding campaigns to lie to hopeful people about how “crypto is the future” when it’s almost completely just a scam. A very, very tiny fraction who buy in near instantly might get a generous cut, but this is akin to literally gambling. After all, who’s to say the new currency you just invested in isn’t just another rug pull?

If people want to invest, I recommend going over a basic course in Econ and Finance. Learn about stock and the stock market. Invest there. Stop wasting your time on a scam and put your money into something that actually has returns.

Don’t be fooled by the whales who have the highest investments in these coins.
I don't even know that much about econ but the whole thing smelled fishy right from the beginning. Because how did it start, there was some "mysterious document" floating around the web, describing this brave new world of future economy. I mean, if it was in a story, everyone would be like "aha, look out, somebody is trying to scam the protagonist!". But IRL? They fell for it themselves.

It's also pretty ironic how the proponents of crypto could be going "hurr durr, the pesky government will not dictate my finances!". When in the end they got their money siphoned off by the big investors instead.
 
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