Cryptocurrency Mining Blamed For Electricity Outages in Iran

[Brooksie359]

52 minutes ago, Lii said:

dunno what's about this whole argument

but those are all different personal interest

I don't think that any of those is objectively superior by some type of scale

 

also not, it has a lot to do with the currency, in the international market usds are pretty much dominant, by so the us pretty much has a good control over whatever thing, but those are politics stuff, so better avoiding those (but I'm not so sure if I actually understood you or not, I might have misunderstood you)

 

anyway how did they actually comprove that it was due to mining?

 

also why the heck are they burning even more heavy stuff, cannot they put more renewables stuff? it's like saying, hey we have a problem, the problem is not caused by us but by someone else

My point is that US spending on defense is independent of energy spent to ensure the USD. The US will spend the same amount of energy on defense because it is trying to protect itself even if they adopted a different currency that had its own protective measures. It's not like if the US started to use blockchain to combat counterfeits it would decrease the energy spent by the US military. So to make the comparison of the energy spent by the US military and the energy used to prevent counterfeit bitcoins is ridiculous. A fairer comparison would be to compare the department that directly combats counterfeit bills to the energy used to combat counterfeit bitcoin. 

[StDragon]

The governance narrative drum is already beating about the negative aspects of Crypto. None of this is out of the ether. It's planned and coordinated as a trial balloon prior to legislation hitting the floor. IMHO, I think crypto in its current form and usage is useless for 99.999% of the population. That's not to say there wont be a form of crypto as sovereign fiat to replace tangible coinage. China and India are way head in that regard (paperless, but not crypto).

 

So, I would say IMHO, this could very well be the last 'hurrah' of the BTC craze. And the narrative will be that anyone collecting and mining will be shunned as extreme left/right radicals. Oh, and taxed to oblivion as the "stick".

[Heliian]

On 1/15/2021 at 1:09 PM, pas008 said:

source on this

but also we covered this posts later

Terrorists and other criminal organizations love the easy anonymity of crypto, governments not so much.  

Regardless, bitcoin et al are just gigantic pyramid schemes. 

[WkdPaul]

12 minutes ago, Heliian said:

Terrorists and other criminal organizations love the easy anonymity of crypto, governments not so much. 

Criminal organisations usually make money with drugs, last time I checked, dealers at the street corner doesn't take crypto but cash ... shouldn't we ban cash?

 

Criminals will always find a way, if they rely on crypto currencies and it gets banned, then they'll simply switch to something else. Specific precise actions against a very complex issues is rather pointless and shortsighted, as pointed above, terrorists and other criminal organizations also love cash, and all these criminals existed WAY before crypto did. But for some reason crypto is now the scapegoat ...

 

 

Quote

Regardless, bitcoin et al are just gigantic pyramid schemes. 

Please explain, as this isn't at all the experience most have had with crypto currencies, and if it was a pyramid scheme, why would terrorist and other criminal use it ?

[OverclockingForPerformance]

On 1/14/2021 at 2:07 AM, kakik09 said:

Cryptocurrency is just plain cancer. Period. 

There are some low-energy coins such as BURST, which onlys need hard drives to mine

[Heliian]

7 hours ago, wkdpaul said:

Criminal organisations usually make money with drugs, last time I checked, dealers at the street corner doesn't take crypto but cash ... shouldn't we ban cash?

 

Criminals will always find a way, if they rely on crypto currencies and it gets banned, then they'll simply switch to something else. Specific precise actions against a very complex issues is rather pointless and shortsighted, as pointed above, terrorists and other criminal organizations also love cash, and all these criminals existed WAY before crypto did. But for some reason crypto is now the scapegoat ...

 

 

Please explain, as this isn't at all the experience most have had with crypto currencies, and if it was a pyramid scheme, why would terrorist and other criminal use it ?

Well, I'm not talking about street crime.  Before crypto currency, other more traceable transactions were the norm. Stock trading and real estate were big vehicles for transactions.  Even cash has a certain amount of traceability.

 

Why do I think it's like a pyramid scheme?  You have a few people extolling the virtues of it, trying to get more buyers.  Then when the money comes in the value grows and grows, it's the best thing since sliced bread.  Finally, people want to get payed out but there wasn't any actual product behind it.  As it unravels and more people sell off the value bottoms and poof.  A few people at the top get paid out, everyone else is now stuck. 

 

 

[WkdPaul]

9 minutes ago, Heliian said:

Why do I think it's like a pyramid scheme?  You have a few people extolling the virtues of it, trying to get more buyers.  Then when the money comes in the value grows and grows, it's the best thing since sliced bread.  Finally, people want to get payed out but there wasn't any actual product behind it.  As it unravels and more people sell off the value bottoms and poof.  A few people at the top get paid out, everyone else is now stuck. 

Not sure I agree, but I see your point.

[kyookyoo]

On 1/13/2021 at 10:40 AM, Kanna said:

I can relate when wifi or something goes out parents blame me

Seriously, my family messages me when the wifi goes down when i havent been home in months...

[Jet_ski]

I don’t care about any of this but have one question: HOW ARE THEY FINDING ANY GPU INVENTORY?!

[Jet_ski]

1 hour ago, gabrielcarvfer said:

Directly from Nvidia and mining OEMs?

I was making a joke about GPU shortages, I guess it flopped.

[Moonzy]

5 hours ago, Jet_ski said:

I don’t care about any of this but have one question: HOW ARE THEY FINDING ANY GPU INVENTORY?!

They ARE the inventory

Raid them for loots

 

/s of course

[Letgomyleghoe]

On 1/13/2021 at 11:07 AM, kakik09 said:

Cryptocurrency is just plain cancer. Period. 

it's really not, the current model is inefficient, yes, but cryptocurrency is not cancer.

[Letgomyleghoe]

6 hours ago, Heliian said:

Well, I'm not talking about street crime.

even big drug dealers/distributors take cash most of the time, they don't mess with crypto, If you're talking cyber crime, most people use paypal with fake credentials, and prepaid visa cards anyway, sure there's dark web drug sites, and certain "hacking" tools/items that are paid for with crypto, but they'll find another way to pay even if crypto isn't there.

[linuxChips2600]

"The Ultimate P̶l̶a̶y̶ Cryptominers"
"Performance To Rule Your G̶a̶m̶e̶ Cryptomining"
What consumer graphics card marketing looks like to those who do cryptomining, probably.

[Moonzy]

1 minute ago, linuxChips2600 said:

What consumer graphics card marketing looks like to those who do cryptomining, probably.

Thing is, marketing is bs to miners, we see the numbers

3060ti has same hash rate as 3070 at lower cost and electricity? Boom gone, out of stock everywhere

 

Only naive people listen to marketing and not numbers, this applies to every segment

[Letgomyleghoe]

5 minutes ago, Moonzy said:

Thing is, marketing is bs to miners, we see the numbers

3060ti has same hash rate as 3070 at lower cost and electricity? Boom gone, out of stock everywhere

 

Only naive people listen to marketing and not numbers, this applies to every segment

honestly starting to think about picking a few of the 3060tis up for mining, they pay themselves off in three months it's insane.

[Moonzy]

Just now, Letgomyleghoe said:

honestly starting to think about picking a few of the 3060tis up for mining, they pay themselves off in three months it's insane.

Mines already halfway to paying them off

And they launched in December, it's stupid

[WkdPaul]

1 minute ago, Letgomyleghoe said:

honestly starting to think about picking a few of the 3060tis up for mining, they pay themselves off in three months it's insane.

RIP your inbox and SU ... lol

[linuxChips2600]

10 minutes ago, Moonzy said:

Thing is, marketing is bs to miners, we see the numbers

Don't forget that AMD just settled a false advertising lawsuit back in 2019, so I doubt that either major desktop consumer GPU manufacturer is gonna start claiming pure BS via marketing anytime soon...

[Letgomyleghoe]

5 minutes ago, linuxChips2600 said:

Don't forget that AMD just settled a false advertising lawsuit back in 2019, so I doubt that either major desktop consumer GPU manufacturer is gonna start claiming pure BS via marketing anytime soon...

this was because amd was claiming an extra four physical cores when they we're really not physical cores, I am no electronic engineer so I couldn't tell you exactly what that means, but it's a big difference from "fastest gpu yet" or "240 fps in xxxx game" or "best gaming performance"

[The1Dickens]

8 minutes ago, Letgomyleghoe said:

this was because amd was claiming an extra four physical cores when they we're really not physical cores, I am no electronic engineer so I couldn't tell you exactly what that means, but it's a big difference from "fastest gpu yet" or "240 fps in xxxx game" or "best gaming performance"

They were "most" of the 'core', from what I remember, but shared a small part. I forget which part, but the argument was that since each 'core' could only access that part one at a time, that meant that the other core was essentially dead. Having 4 "dead" cores in an 8-core unit is really just a 4 core. I think it was the ALU?

[linuxChips2600]

24 minutes ago, Letgomyleghoe said:

this was because amd was claiming an extra four physical cores when they we're really not physical cores, I am no electronic engineer so I couldn't tell you exactly what that means, but it's a big difference from "fastest gpu yet" or "240 fps in xxxx game" or "best gaming performance"

Still afaik Americans tend to sue more often than those from different countries, so even if the marketing is more vague it doesn't mean than AMD nor Nvidia can simply get away with whatever they say; although this didn't involve any actual suing, remember HW unboxed, lol?

[Letgomyleghoe]

3 minutes ago, linuxChips2600 said:

Still afaik Americans tend to sue more often than those from different countries, so even if the marketing is more vague it doesn't mean than AMD nor Nvidia can simply get away with whatever they say; although this didn't involve any actual suing, remember HW unboxed, lol?

there's nothing to sue about, sure americans are sue happy, but you can make claims like what I said without getting sued. there's nothing lawfully wrong about it.

[linuxChips2600]

1 minute ago, Letgomyleghoe said:

there's nothing to sue about, sure americans are sue happy, but you can make claims like what I said without getting sued. there's nothing lawfully wrong about it.

There's certainly a very fine line between persuasive marketing and just outright dishonesty...

[Moonzy]

On 1/14/2021 at 11:20 AM, Brooksie359 said:

This is so wasteful and there are so many better ways to make money. 

Hmm... I wonder what allows you to convert electricity cost into profit at about 1:9 ratio (as of current rate) without you doing anything much, just click few clicks.

 

On 1/14/2021 at 11:20 AM, Brooksie359 said:

It is not worth the energy cost

Can you describe another process that convert the same amount of energy into more money?

Without much user intervention of course.