Cryptocurrency's and their potential - The basics

[2bitmarksman]

I've felt like the forums are overdue for a post with the basics of cryptocurrencies and the blockchain, why they're useful/hold value and the technology they are going to be shaping in the future

 

So the first one is a basic but highly informative video on how cryptocurrencies actually work, what blocks and a blockchain actually are, and why they could be useful:
 

 

The next is related and mentioned at the end of the first video on why the tech behind cryptographic hashing (namely SHA256) is so hard to break:

 

 

Next is a video on the industries that are going to be or already being changed from blockchain technology:

 

 

 

Finally (I think this should be enough to get the idea) are some articles based on the social, as well on some more explanation of the economic, changes and implications that blockchain technology will bring about in our lifetime:

https://hackernoon.com/why-everyone-missed-the-most-important-invention-in-the-last-500-years-c90b0151c169

https://hackernoon.com/reflections-on-the-best-blockchain-tweets-ever-written-d488af960d4f

 

Hopefully this helps at least a few people understand and want to know more about blockchain technology and why it's neat, outside of 'You can mine it with your computer and make money(?)

[DrMacintosh]

I don't see the potential of Crypto Currency, it can't scale globally or even to a national level, and you can't be paid in it for your job. 

[2bitmarksman]

40 minutes ago, DrMacintosh said:

I don't see the potential of Crypto Currency, it can't scale globally or even to a national level, and you can't be paid in it for your job. 

K

[Unimportant]

I'd also like to point out Mike Maloney's hidden secrets of money series: https://www.youtube.com/playlist?list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc

 

Not about crypto currencies in and off itself, but helps one understand why the world needs a decentralized currency like bitcoin and co. to challenge the current broken monetary system.

 

[DrMacintosh]

7 minutes ago, GamingMemeKing said:

you're always one of the first users to post something negative

The platform deserves it. It comes out of nowhere and because people say it has value it does and then a few weeks later the whole thing crashes. So yeah CC is just a bad idea overall. 

[Teddy07]

34 minutes ago, GamingMemeKing said:

Damn, you hate Cyptocurrency soo much.

2

Yeah kinda. Want to buy a 480 or better 580 but not for that outrageous prices

[2bitmarksman]

The fact that suppliers won't increase production for cards even a little is what annoys me the most. I understand not wanting to take addition risk of they make a large supply and the mining craze stops and suddenly there is a huge pileup of excess stock, but the constant out of stock except for vastly overpriced GPU's is absurd for this long of a timeframe.

[Dirk]

On 7/19/2017 at 6:11 PM, 2bitmarksman said:

The fact that suppliers won't increase production for cards even a little is what annoys me the most. I understand not wanting to take addition risk of they make a large supply and the mining craze stops and suddenly there is a huge pileup of excess stock, but the constant out of stock except for vastly overpriced GPU's is absurd for this long of a timeframe.

A part of me hopes that the new mining cards will help alleviate the GPU market, but if the price ins't low enough then miners will still go for gaming cards to keep a higher resell value if they ever want out.

[2FA]

On 7/19/2017 at 7:11 PM, 2bitmarksman said:

The fact that suppliers won't increase production for cards even a little is what annoys me the most. I understand not wanting to take addition risk of they make a large supply and the mining craze stops and suddenly there is a huge pileup of excess stock, but the constant out of stock except for vastly overpriced GPU's is absurd for this long of a timeframe.

As far as I'm aware, it has more to do with AIBs not getting enough dies from Nvidia and AMD.

 

Nvidia can't increase production immediately since they use TSMC as their producer. TSMC creates many different dies for many different companies, they just can't suddenly switch production as orders are placed months ahead of time. Volta isn't too far off either so they are probably hesitant to increase their order much since it won't affect things until nearly 3 months down the road.

 

AMD sources their dies from Global Foundries and they are in the same boat as Nvidia.