rip ethereum. the money tree was great while it lasted.

[Nuke]

etherium is now officially on proof of stake. they days of using it to fund computer upgrades and online purchases is over.  will it replace btc? maybe.  will there be enough stakers to keep the network alive as a currency proper? that remains to be seen. 

people who only use gpus for games will likely say good riddance. i get that, i had to put off a gpu upgrade until the next generation which will likely be a ways out. one of the intended goals of crypto currencies was to decentralize hash power, and so far all attempts have failed. those who make the most money could simply buy the most hardware, and completely devastate that market and lock out anyone with a couple cards and doing the trickle grind from obtaining upgrades. 

i guess the real question is whats next. im still waiting to see what the next most profitable gpu minable currency is. ethereum was already on hair thin margins for me. was making a $1.30ish a day where power use was about 0.80 cents a day.  il pull the plug at a dollar, and so far today its way below that. but it will take some time before the churn sorts itself out. so far it looks like the game is over. 

[JoeSchmuckatelli]

Heh.  Once I read that Chinese investors were buying and retrofitting entire defunct coal plants and old factories to make e-coin (choose your flavor) - I knew it was on the way out. 

(What's the old saw?  Pigs get fat, hogs get slaughtered?) 

You go from being 'cute' to being competitive... You risk getting stepped on. 

[JoeSchmuckatelli]

Mind you - I think there will continue to be transactions (once a cat's out of the bag, and all that) - but as you write, the easy days are likely over 

[kerbiloid]

Why not found a sandcoin or snowcoin, using the pattern of desert... sandcicles or snow... snowcicles as a random generator instead of GPU, for free.

One just grabs a handful of snow, looks in an tells to others: "Hey, look. I have generated 23.54645654 snowcoins".

[Starwaster]

23 minutes ago, kerbiloid said:

Why not found a sandcoin or snowcoin, using the pattern of desert... sandcicles or snow... snowcicles as a random generator instead of GPU, for free.

One just grabs a handful of snow, looks in an tells to others: "Hey, look. I have generated 23.54645654 snowcoins".

I don’t think mining works that way?

[kerbiloid]

7 minutes ago, Starwaster said:

I don’t think mining works that way?

Iirc, the random generation was the key part of blockchain?

[JoeSchmuckatelli]

7 minutes ago, Starwaster said:

I don’t think mining works that way?

Kind of the point when you get down to it, isn't it?

Value is predicated on rarity - and in the beginning, there were a rare few people who wanted to invest in the time and equipment necessary to make an ethereal 'thing' that they could argue over the value of (and agree sufficiently) to create a currency analog.  Once sufficient flooded the market, criminals wanted in as a way of possessing a thing of value that could be exchanged with reduced oversight - and then wanted to be able to buy non-illicit products... Meaning the 'currency' gained real currency and investors became interested - which meant speculators went big and got government 'interested' and now the party is no longer fun. 

[Starwaster]

13 minutes ago, kerbiloid said:

Iirc, the random generation was the key part of blockchain?

I thought (could be wrong) that the components of the chain had to be calculated. Computed?

edit: what I thought was happening was that ‘mining’ was just you contributing processing power and being rewarded in crypto. 

Edited September 16, 2022 by Starwaster

[kerbiloid]

Ok.
sandcoin
snowcoin

But we still have a bag of lentil and peas to process chain sequences.

peacoin!

[DDE]

6 hours ago, JoeSchmuckatelli said:

Heh.  Once I read that Chinese investors were buying and retrofitting entire defunct coal plants and old factories to make e-coin (choose your flavor) - I knew it was on the way out. 

(What's the old saw?  Pigs get fat, hogs get slaughtered?) 

You go from being 'cute' to being competitive... You risk getting stepped on. 

It's the reason why I'm so skeptical of everything that has to do with startups and "disruption".

No way the big dogs would just be letting something radical happen to their business model. And in this case, the big dogs happen to have their own spy agencies and other bells and whistles.

[KSK]

4 hours ago, kerbiloid said:

Ok.
sandcoin
snowcoin

But we still have a bag of lentil and peas to process chain sequences.

peacoin!

Why not stick with tradition and go with tulip bulbs?

[Nuke]

i mined the rest of yesteday and think my hash power was only worth about a quarter per day, so i pulled the plug. will try again next week and see if the numbers are better.

5 hours ago, Starwaster said:

I thought (could be wrong) that the components of the chain had to be calculated. Computed?

edit: what I thought was happening was that ‘mining’ was just you contributing processing power and being rewarded in crypto. 

way i understood it is that mining was a way to compensate you for keeping the blockchain online. it doesn't work without people putting hashpower out there, which costs money. people don't run servers for free. so i dont know how these coins can continue to operate without mining. btc is so hard to mine you need asics if you want to turn anything.  etherium is the big experiment to see if you could sustain a crypto network with a lot less hash power. 

there are a lot of coins out there, but most of them are copycats that dont really contribute anything, just someone trying to make a buck. people forget that bitcoin is experimental, but it seems like the one i go to when i actually want to buy something (and i was using nicehash, which pays btc for hashpower despite actually mining etherium). it will crash to oblivion as soon as its mined out. by the time we know we should trade in for the next coin, its probibly already too late. 

Edited September 16, 2022 by Nuke

[Pthigrivi]

6 hours ago, KSK said:

Why not stick with tradition and go with tulip bulbs?

What we aught to have learned in 1637 is that you should probably understand both sides of the supply/demand curve. Its not so very much for a thing to be rare if it is ultimately completely useless. 

10 hours ago, kerbiloid said:

Ok.
sandcoin
snowcoin

But we still have a bag of lentil and peas to process chain sequences.

peacoin!

Im going to pluck my armpit hair, shake it in a Yahtzee cup, dump it on a piece of paper, and take a high-res photo. Who’s buyin!?

[kerbiloid]

Btw, does it all mean that KSP-2 will release very soon, or vice versa it will be delayed again?

If there were so many cheap graphic cards on secondary market, on one hand it will immediately make any KSP-2 video requirements possible for everyone, but on the other hand it can motivate them to revamp the graphics.