brett 2,284 Posted January 29, 2018 Report Share Posted January 29, 2018 How about this one John,,,,,https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064 Link to post Share on other sites
allardjd 1,853 Posted January 30, 2018 Report Share Posted January 30, 2018 6 hours ago, brett said: How about this one John,,,,,https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064 That shed some light but I still don't see what it is that the computer is doing and how doing that creates value for anyone. Also not addressed is Internet I/O volume for the mining apps, as most of us are paying for bandwidth. John Link to post Share on other sites
Quickmarch 488 Posted January 30, 2018 Report Share Posted January 30, 2018 Wow! Invest 3 grand and your ROI is $1/day. Lemme at it! 1 Link to post Share on other sites
Captain Coffee 2,030 Posted January 30, 2018 Report Share Posted January 30, 2018 Cryptocoins killed the graphic market (shelves). This is the scene in the Vid Card section of my local FRYS store..."Ghost shelves". My reading of the process: The coins need to be "Verified" by multiple parties to maintain integrity of the coins and the Block Chains (No, I don't understand Blockchains...)...and every verification gets a tiny percentage of each transaction...so, the more transactions your computer can manage at a time the more you can make. However, if it takes a 3,000 dollar machine to make "Up to 10 bucks a day" (I assume this is calculated After the power cost to run the machine???) I can't see how the economy of this works out for the miners...unless they have faith that the coins will last indefinitely and they can run those machines for over a year or more to get them to pay for themselves. I am hoping the increased demand for cards will ramp up production, that miners will grow saturated with rooms full of hot power sucking machines soon, and the prices across the shelves drop as the inventory gathers dust. Some articles mentions that "Large Scale" operations are out there. I am not surprised as the Economy is driven by people who work hard to skim tiny percentages off of every dollar spent (Wall Street), no surprise that those types of people are buying wharewarehouses full of gaming rigs if each machine is capable of paying for itself at the end of a year plus a bit of profit (3000 bucks + 560 bucks). I suspect there are people right now scouring the planet for even One More 1070 card. Link to post Share on other sites
brett 2,284 Posted January 30, 2018 Report Share Posted January 30, 2018 Not to mention when everything crashes they can get really good graphics while gaming. Link to post Share on other sites
Captain Coffee 2,030 Posted January 31, 2018 Report Share Posted January 31, 2018 One possible benefit of this could be a drive to produce Much more powerful GPU's...bitcoins could make powerful 1070 cards obsolete sooner than without the crypto'motivation. Our hobby could benefit from this down the road? Hmmm... ;) A squidly tickling in the back of my neck wonders....would robots and autonomous vehicles benefit from powerful gpus? Ficto'cynically wondering if a computer based currency is something that might be created by an emergent ai via secretive allies to spur development of processors to make the leap out of the cloud possible sooner. (Have they actually found the creator of Bitcoins yet...Satoshi Nakamoto?) Greed for "easy money" based on Labor-Free computer data mining would be a terrific carrot to use to spur computer advances...the more you compute the more you earn! Link to post Share on other sites
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