Crypto Mining Hinders Space Science as GPU Prices Skyrocket and Supply Dwindles - Sensationalist Headlines

[QUOTE=SunsetTable;53146949]Oh great, EVGAbucks. That's... worth, something?[/QUOTE] Conveniently ignoring the part where he decimated your argument to focus on EVGAbucks.

[QUOTE=SunsetTable;53146949]Oh great, EVGAbucks. That's... worth, something?[/QUOTE] What are you even arguing at this point?

[QUOTE=geel9;53146951]Conveniently ignoring the part where he decimated your argument to focus on EVGAbucks.[/QUOTE] How much is cure coin worth right now?

[QUOTE=SunsetTable;53146954]How much is cure coin worth right now?[/QUOTE] [quote] The top two teams by a wide margin for folding@home give monetary incentive. [url]http://folding.stanford.edu/stats/teams[/url][/quote]

[QUOTE=SunsetTable;53146949]Oh great, EVGAbucks. That's... worth, something?[/QUOTE] These 8,697 people seem to think so [url]http://folding.stanford.edu/stats/team/111065[/url]

[QUOTE=SunsetTable;53146954]How much is cure coin worth right now?[/QUOTE] About 50 cents. Also: [URL]https://www.newswire.com/news/bio-research-loves-curecoin-gamers-and-speculators-to-overtake-1-team-19890448[/URL] There's an article about a curecoin team making the top spot for folding@home contributors. But hey, monetizing compute time will just reduce adoption huh? [quote]The CURE team currently has over 1,000 active participants and produces approximately 40% of the FAH 72,000 teraflops of computational research[/quote] lol

Snip Ninjad

[QUOTE=Zillamaster55;53145955]I cannot stand this crypto bullshit. Does it actually do anything for the economy? Science? Culture? Politics? [I]Anything?[/I] All I see is people buying up things that could be used by others, and generally just sucking down power and not putting anything back into the world around them.[/QUOTE] But it's money backed up by the people who suck down all that power to make it so it's ok. That's the gist of the argument for crypto-mining being somehow intrinsically valuable to society that I always seem to get, anyway. [QUOTE=Crumpet;53145987]'Cryptocurrency' is a misnomer really. There are obvious benefits of blockchain technology, like provability, decentralisation, transparency, immutability etc etc. There aren't so many actual crypto projects trying to be currencies, a good chunk of them just have exchange tokens to power the network, like Ether on the Ethereum network, which is actually a 'distributed computing platform'. It's not trying to be a currency. Modern blockchain projects are hardly distributed via mining, it just so happened that mining was the first method thought up to give a distributed verifiable consensus on an event. Ethereum is moving away from mining this year I think to a different method, called Proof of Stake. Other 'cryptocurrency' aiming to be actual currency like Stellar, Nano, and Ripple were not and never will be distributed by mining and again have obvious benefits.[/QUOTE] And yet, like so many things, our species has taken something with a lot of promise and tried to suck as much money out of it as possible with the tried-and-true "Fuck you, got mine!" philosophy.

Alright, fair enough.

[QUOTE=SunsetTable;53146954]How much is cure coin worth right now?[/QUOTE] $0.50 per coin. A 1080ti can do around 100 coins per month. Evgabucks by comparison are 1 buck per 1 american dollar. They are limited to 10 per month. Edit: This conversation is moving too fast.

I was wrong. [editline]20th February 2018[/editline] Yeah it is.

[QUOTE=Zero-Point;53146978]But it's money backed up by the people who suck down all that power so it's ok. That's the gist of the argument for crypto-mining being somehow intrinsically valuable to society that I always seem to get, anyway.[/QUOTE] It's valuable because mining currently provides consensus for blockchains. Without this it wouldn't be a decentralized system for secure proof of work. Honestly it would take 20 minutes on google reading about blockchain to consider how the tech can impact our lives. Imagine a chain designed to automate warehouse transactions, or how about business processes being automated through blockchain? Accountants, voting, research, logistics and more can be automated on chain for cost reduction and efficiency. Hell, look at VeChain, it's a system for secure business ecosystems, consider how much waste companies currently have and imagine what that waste would be if business operations were automated and ran on a secure cryptographic ledger. You guys know how in movies the future is depicted as fully automated and everything is interconnected? Blockchain is how that becomes a reality.

I would honestly love to see the cryptocurrency market move more towards providing distributed computing work for scientific and other "useful" purposes and away from computation for the sake of it. It wouldn't fix the issue of people buying up tons of hardware for it but at the very least the electricity and resources involved wouldn't be pretty much wasted like they are now in most cases. I think it would also grant a great deal of legitimacy to the market as a whole- Your coins aren't just proof of time spent "spinning your wheels", they're proof of and compensation for valuable work you've had your systems do for a given organization. I can get behind that.

[QUOTE=reedbo;53147021]It's valuable because mining currently provides consensus for blockchains. Without this it wouldn't be a decentralized system for secure proof of work. Honestly it would take 20 minutes on google reading about blockchain to consider how the tech can impact our lives. Imagine a chain designed to automate warehouse transactions, or how about business processes being automated through blockchain? Accountants, voting, research, logistics and more can be automated on chain for cost reduction and efficiency. Hell, look at VeChain, it's a system for secure business ecosystems, consider how much waste companies currently have and imagine what that waste would be if business operations were automated and ran on a secure cryptographic ledger. You guys know how in movies the future is depicted as fully automated and everything is interconnected? Blockchain is how that becomes a reality.[/QUOTE] I'm not dogging blockchain tech, I'm dogging how it's being used for what is virtually funny money, and that the funny money seems to be all that anyone cares about concerning it. [editline]20th February 2018[/editline] [QUOTE=SleepyAl;53146398]Also if the cryptocurrency mining fad goes bust there's no real resell value in "mining hardware" as gamers won't have a use for a graphics card that doesn't actually produce video and instead is optimized for computations. You buy a 1080 TI and it goes bust you can sell that used nearly instantly and recoup most of the investment.[/QUOTE] There's plenty of compute cards with no graphics output capabilities, as well. Just saw a lot of some Tesla K10 GPUs for ~$250 each on eBay. Hell, if I wasn't broke I'd buy a couple just to tinker with machine learning.

Actually, I'm back because my suspicions were confirmed after some digging. The PPD for cure coin has ballooned and the members doing almost 50% if the building are within in 20 so group of rentals. Curecoin Also has been reducing payouts which is starving the smaller folders/old hobbyists which helped build F@H. [editline]20th February 2018[/editline] So, what I had said is exactly happening.

[QUOTE=a-k-t-w;53146923]You are wrong, they are backed by the dollar. You're forgetting that if your money is in the bank it's also "nothing". Just numbers in a computer. If my piece of machinery has a major mechanical failure it goes from $3000 to being worth scrap.[/QUOTE] Except if you're in the US where your bank account is FDIC insured up to $250,000, so your bank account balance is actually worth anything between your balance amount and $250,000.

FIAT haven't been backed by gold since the 50s.

All of us may be many things but at least we're not bitshits

[QUOTE=SunsetTable;53147152]Actually, I'm back because my suspicions were confirmed after some digging. The PPD for cure coin has ballooned and the members doing almost 50% if the building are within in 20 so group of rentals. Curecoin Also has been reducing payouts which is starving the smaller folders/old hobbyists which helped build F@H. [editline]20th February 2018[/editline] So, what I had said is exactly happening.[/QUOTE] What's wrong with renting hardware for compute power? Clearly someone has a vested interest in paying for computing power, not to mention they've determined that working for curecoin is profitable enough to purchase computing power in the first place. This still doesn't prove your point. The science is still being done and the researchers are again not having to cover the compute costs as with F@H. In regards to your second point, wouldn't small folders and hobbyists not be concerned with payouts?

[QUOTE=nikomo;53146889]They're complaining about extra cost on 64 GPUs? Jesus. That's not even that many. I'm curious what cards they're looking for, though.[/QUOTE] Uhh yeah, because surprisingly scientists have horribly constrained budgets partially because they don't directly drop billions of dollars of explosive overkill on brown people. Most scientists do what they do because they love doing it, not because they get paid to do it.

[QUOTE=Zero-Point;53147086]I'm not dogging blockchain tech, I'm dogging how it's being used for what is virtually funny money, and that the funny money seems to be all that anyone cares about concerning it. [/QUOTE] How is it funny money? Most of these blockchain companies use the tokens and coins as a funding method, this tech would have never been developed at this pace if there wasn't a way to capitalize on it yet. Almost all tokens/coins are digital assets used on the chain for validating actions on the blockchain, they don't just exist so that someone can sell them (I mean some do but the prevalence of scams is a different topic). The reason that people decided to start paying for these blockchain assets is merely due to the fact that they are verifiable assets that interact with the said chain, their value being tied to the intrinsics of the chain and tech behind it. The only funny money aspect about blockchain is the amount of scams and false promises that people fall for when they're trying to get rich quick with crypto. [QUOTE=Protocol7;53147163]Except if you're in the US where your bank account is FDIC insured up to $250,000, so your bank account balance is actually worth anything between your balance amount and $250,000.[/QUOTE] Good luck if you have a loss of more than $250,000. That being said, the USD is still not backed by anything. FDIC insurance is not the same as being backed 1:1 with gold which hasn't been a thing in the US for a while. [QUOTE=F.X Clampazzo;53147198]Uhh yeah, because surprisingly scientists have horribly constrained budgets partially because they don't directly drop billions of dollars of explosive overkill on brown people. Most scientists do what they do because they love doing it, not because they get paid to do it.[/QUOTE] Even more of a reason to use blockchain to power scientific computing. With blockchain involved the 'floppers' can offset their own electricity and hardware costs while contributing to scientific research while the actual grant funded researchers don't have to spend tons of money on compute resources. It's a shame that everyone hears blockchain and all they think about is how much money is 'wasted' on cryptocurrency instead of how fundamental the technology is. I 100% agree that electricity used for mining is extremely wasteful but again, these are the growing pains that should be gone when blockchain matures a bit more.

[QUOTE=reedbo;53147214]Good luck if you have a loss of more than $250,000. That being said, the USD is still not backed by anything. FDIC insurance is not the same as being backed 1:1 with gold which hasn't been a thing in the US for a while.[/QUOTE] No one but big business or the very rich is going to have $250,000 in a bank account so I don't even understand why you threw that in there. The point is I can put my money in a bank, it will stay in that bank and my money won't depreciate or inflate in value every 24 hours and if something happens to that money it is insured up to an amount no average American will ever have to worry about. Nothing short of an economic disaster is going to make your money go poof and disappear, unlike cryptos which practically go through an economic disaster on a weekly basis. Cryptos are armchair investor play money and not a currency.

[QUOTE=JCDentonUNATCO;53147358]No one but big business or the very rich is going to have $250,000 in a bank account so I don't even understand why you threw that in there. The point is I can put my money in a bank, it will stay in that bank and my money won't depreciate or inflate in value every 24 hours and if something happens to that money it is insured up to an amount no average American will ever have to worry about. Nothing short of an economic disaster is going to make your money go poof and disappear, unlike cryptos which practically go through an economic disaster on a weekly basis. Cryptos are armchair investor play money and not a currency.[/QUOTE] Well good, that's what a bank is for. FDIC insurance doesn't insure you against the value of the dollar plummeting though. Also, I agree they're not a currency. lets agree to stop calling crypto assets a currency, If anything it's a security. Like I mentioned above, you're totally neglecting the fact that these tokens/coins are assets on their respective blockchains, they aren't meant to be stable investments nor are they meant to be a currency (unless it's designed with that in mind). The fact that their value can swing wildly does nothing to discredit the intrinsic value behind the technology. Once we can all agree that blockchain isn't a currency we can start focusing on regulating these assets appropriately, giving more stability to their value. I find it kind of funny that you call the recent market correction an 'economic disaster'. That correction is [B]nothing[/B] compared to an actual economic disaster.

[QUOTE=Zillamaster55;53145955]I cannot stand this crypto bullshit. Does it actually do anything for the economy? Science? Culture? Politics? [I]Anything?[/I] All I see is people buying up things that could be used by others, and generally just sucking down power and not putting anything back into the world around them.[/QUOTE] [QUOTE=zeromancer;53145957]Sorry dickheads, imaginary monopoly money is more important than the future of human kind.[/QUOTE] You realize how pointless yelling at the market is, right? It's not logical for literally the exact same reason as trump blaming the stock market wasn't logical. Just give it a bit, soon enough mining will become non-profitable for the absolute vast majority of users or gpu suppliers will realize that it's not a short-term fad and will ramp up supply to meet demand. At any rate, getting mad at the free market for existing won't solve a thing.

[QUOTE=reedbo;53147187]What's wrong with renting hardware for compute power? Clearly someone has a vested interest in paying for computing power, not to mention they've determined that working for curecoin is profitable enough to purchase computing power in the first place. This still doesn't prove your point. The science is still being done and the researchers are again not having to cover the compute costs as with F@H. In regards to your second point, wouldn't small folders and hobbyists not be concerned with payouts?[/QUOTE] Clearly you missed the point of F@H and how even the fucking Curecoin community has been incredibly mad about this. F@H was designed for folding at your home, via your desktop. Meaning; from your personal computer. I just finished checking the math and, for the month of March, I will be taking part in cure coin just to prove a point because right now I am losing 5 bucks [B]a day[/B] because server renters have inflated the PPD meaning that my somewhat beefy computer is making 0.75(and by may of 2018, .37) coins a day. You want people to get paid for taking part in something? This is [B]costing them more[/B] with the promise of pay. [I]That's punishing them.[/I] The only people taking part are server farmers and renters, which are the [I]exact people[/I] who hoard these fucking cards to begin with. [editline]21st February 2018[/editline] Stop defending this shit; either the coin becomes so inflated in calculations you end up burning more power than making money or the amount of coins needed to break even inflate to a point where you're burning more power than money. None of these coins have a long term sustainable model; they're a waste. On top of that they've infected what used to be for the good of something into a market scheme to make money; its worht more for me to [I]out right buy cure coin[/I] and then trade it up but then we're talking about Money Markets which if you ever talk to someone who works stocks and money will tell you is fucking pointless unless you're moving millions.

I'm just pissing in a sea of piss, but this is why I fully support ASICs, if people are going to funnel massive processing power in a blockchain, do it in a way that doesn't make it worse for everyone else. I can't wait until bitmain releases their rumored etherium miner and the market gets flooded with used GPUs.

Crypto is just advanced Beanie Babies

[QUOTE=SunsetTable;53147958]Clearly you missed the point of F@H and how even the fucking Curecoin community has been incredibly mad about this. F@H was designed for folding at your home, via your desktop. Meaning; from your personal computer. I just finished checking the math and, for the month of March, I will be taking part in cure coin just to prove a point because right now I am losing 5 bucks [B]a day[/B] because server renters have inflated the PPD meaning that my somewhat beefy computer is making 0.75(and by may of 2018, .37) coins a day. You want people to get paid for taking part in something? This is [B]costing them more[/B] with the promise of pay. [I]That's punishing them.[/I] The only people taking part are server farmers and renters, which are the [I]exact people[/I] who hoard these fucking cards to begin with. [editline]21st February 2018[/editline] Stop defending this shit; either the coin becomes so inflated in calculations you end up burning more power than making money or the amount of coins needed to break even inflate to a point where you're burning more power than money. None of these coins have a long term sustainable model; they're a waste. On top of that they've infected what used to be for the good of something into a market scheme to make money; its worht more for me to [I]out right buy cure coin[/I] and then trade it up but then we're talking about Money Markets which if you ever talk to someone who works stocks and money will tell you is fucking pointless unless you're moving millions.[/QUOTE] Nothing is stopping you from folding at home at your own cost. Blockchain has brought new players into the game who aren't just doing this for the research alone, now they have a way to offset costs and potentially profit. Basically what you're telling me is now that there is a way to make money from distributed computing people aren't going to do it for free anymore?

Slap cryptocurrencies with a 30% transaction tax to make mining unprofitable. Best way to kill cryptocurrency

[QUOTE=Amber902;53148202]Slap cryptocurrencies with a 30% transaction tax to make mining unprofitable. Best way to kill cryptocurrency[/QUOTE] I'm personally glad that governments tend to not arbitrarily ban things/tax them out of existence without an extremely compelling reason to do so. And why would they? Crypto is unstable, it's a shitty investment unless you get extremely lucky, but it's not like it's somehow causing a large amount of harm.