Not you too! - Miners looking towards gaming laptops powered by NVIDIA's Ampere GPUs for Ethereum

[Donut417]

Just now, Nena Trinity said:

1. ban the electric car

2. ban mining

3. power grid no longer failing = profit

4. I would expect the banskters to back aything that kill crypto

1) That dumb in all regards. Electric cars are the future, the internal combustion engine is on its way out if you like it or not. Granted it will probably be a few more decades until internal combustion engines are gone. 

 

2) Again, dumb idea from the government point of view. Like corporations the government like money. More money to be made by taxing crypto. Also banning stuff doesnt really work. How did that work for prohibition? Not really well. How that working for marijuana, cocaine, crack, etc? It doesnt, people still put that shit in to their body. So the solution is to legalize and tax the hell out of it. 

 

3) Power grid can be upgraded. We have the technology. It just a matter of investing in to the infrastructure. The only reason the US doesn't its because we are stupid. We stick our head in the sand until bad shit happens. 

 

4) Again the banks/Wall street can make money on crypto. As long as money can be made, it will be supported. Plus the US government pretty much gave its blessing to crypto when the IRS started taxing proceeds on its sale. 

[Nena Trinity]

13 minutes ago, Donut417 said:

1) That dumb in all regards. Electric cars are the future, the internal combustion engine is on its way out if you like it or not. Granted it will probably be a few more decades until internal combustion engines are gone. 

 

2) Again, dumb idea from the government point of view. Like corporations the government like money. More money to be made by taxing crypto. Also banning stuff doesnt really work. How did that work for prohibition? Not really well. How that working for marijuana, cocaine, crack, etc? It doesnt, people still put that shit in to their body. So the solution is to legalize and tax the hell out of it. 

 

3) Power grid can be upgraded. We have the technology. It just a matter of investing in to the infrastructure. The only reason the US doesn't its because we are stupid. We stick our head in the sand until bad shit happens. 

 

4) Again the banks/Wall street can make money on crypto. As long as money can be made, it will be supported. Plus the US government pretty much gave its blessing to crypto when the IRS started taxing proceeds on its sale. 

1. Never, petrol dollah for ever!

 

2. My country doesnt even consider crypto a valid currency last time I checked...

 

3. Power grip expansion is not always easy, depends on terrain and ofc the country you live in policy about nuclear power and/or coal

 

4. They what now? They said BITCOIN was fake moneyz!!!

[Donut417]

3 minutes ago, Nena Trinity said:

1. Never, petrol dollah for ever!

What happens when the oil runs out OR we cant get to it? Oil wont last forever. If the Deepwater Horizon accident says anything, we have used up most of the "Easy" oil. Now we have to find oil in much harder to reach places, putting greater levels of risk on the environment. 

 

4 minutes ago, Nena Trinity said:

2. My country doesnt even consider crypto a valid currency last time I checked...

Doesnt matter if the government considers it valid. If businesses are willing to accept it as payment, thats all the matters. Tesla for instance is going to let you buy a car with crypto in the future. Thats why they invested in Bitcoin. 

 

6 minutes ago, Nena Trinity said:

3. Power grip expansion is not always easy, depends on terrain and ofc the country you live in policy about nuclear power and/or coal

Firstly anyone considering coal today needs to go back to the 20th century. Coal is DEAD. Between nuclear, solar, wind, hydro electric, geothermal, and the hamster in his wheel they can figure it out. Plus there is always the potential Fusion will be future out in the future. Plus with higher energy efficiency standards. Building houses and buildings with better efficiency standards thats how you solve the issue. Put solar on everyones roof. Granted this type of stuff takes time, but sticking your head in the sand is not the solution. 

 

10 minutes ago, Nena Trinity said:

. They what now? They said BITCOIN was fake moneyz!!!

You do know that Bitcoin is listed on the NYSE right? Bitcoin is worth over $40k because Wall Street is invested in to it. Hell the US government has a pretty significant holding of crypto as well, due to ransomware attacks. The US Internal Revenue Service also makes sure people pay capital gains on any crypto sales. If it was fake money the IRS wouldn't have given a shit. 

 

Your just salty because you cant buy your new GPU and now you want to cry like a little baby. All because you cant wait a year or so for prices to potentially come down. If people took a step back and didnt buy parts for those fucking scalpers and made them sit on the hardware. If they have their money tied up in this current generation hardware and have to sit on it, and the next gen hardware comes out, that means less hardware they can buy. BUT people just keep buying from the scalpers. 

 

Another thing, the only reason crypto is doing so well right now is due to the uncertainty in the world. We are still dealing with Covid and what ever effects its going to have on the world economy. We are still dealing with the US-China trade war. We are still dealing with the social unrest in the US. Its kinda like when a certain political party gets voted in as president and gun sales rocket. Eventually things will stabilize, crypto will fall again for a time and things will get back to normal. 

[Nena Trinity]

10 minutes ago, Donut417 said:

What happens when the oil runs out OR we cant get to it? Oil wont last forever. If the Deepwater Horizon accident says anything, we have used up most of the "Easy" oil. Now we have to find oil in much harder to reach places, putting greater levels of risk on the environment. 

 

Doesnt matter if the government considers it valid. If businesses are willing to accept it as payment, thats all the matters. Tesla for instance is going to let you buy a car with crypto in the future. Thats why they invested in Bitcoin. 

 

Firstly anyone considering coal today needs to go back to the 20th century. Coal is DEAD. Between nuclear, solar, wind, hydro electric, geothermal, and the hamster in his wheel they can figure it out. Plus there is always the potential Fusion will be future out in the future. Plus with higher energy efficiency standards. Building houses and buildings with better efficiency standards thats how you solve the issue. Put solar on everyones roof. Granted this type of stuff takes time, but sticking your head in the sand is not the solution. 

 

You do know that Bitcoin is listed on the NYSE right? Bitcoin is worth over $40k because Wall Street is invested in to it. Hell the US government has a pretty significant holding of crypto as well, due to ransomware attacks. The US Internal Revenue Service also makes sure people pay capital gains on any crypto sales. If it was fake money the IRS wouldn't have given a shit. 

 

Your just salty because you cant buy your new GPU and now you want to cry like a little baby. All because you cant wait a year or so for prices to potentially come down. If people took a step back and didnt buy parts for those fucking scalpers and made them sit on the hardware. If they have their money tied up in this current generation hardware and have to sit on it, and the next gen hardware comes out, that means less hardware they can buy. BUT people just keep buying from the scalpers. 

 

Another thing, the only reason crypto is doing so well right now is due to the uncertainty in the world. We are still dealing with Covid and what ever effects its going to have on the world economy. We are still dealing with the US-China trade war. We are still dealing with the social unrest in the US. Its kinda like when a certain political party gets voted in as president and gun sales rocket. Eventually things will stabilize, crypto will fall again for a time and things will get back to normal. 

first of all I am doing better than most having a Vega 56 and GTX 970, plus a GTX 960 as reserve the poor effers stuck on iGPU are salty, the poor effers who cannot buy a new laptop are salty. Me? I consider Etherium only to be a cheap bitcoin copy cat and it will probably not get as far.

 

Plus: They waste power world wide.

[jagdtigger]

1 hour ago, Donut417 said:

As long as people put value in crypto currency, there will never be a solution to the mining problem. 

There is a solution already called anti money laundering/anti terrorism law. Its the same reason why big banks wont touch crypto, they dont know where it comes from and where it goes so they could get into hot water...... But for some reason governments tolerate it which is a huge mistake.

[Kisai]

2 hours ago, Nena Trinity said:

Well now it affects the average consumer, can we now all agree we need a final solution to the mining problem? 

a) higher energy cost tiers that the utilities can do on their own/higher regulations on dirty energy to discourage it's use (exactly what carbon taxes are for.)

b) forbid banks, card networks from buying cryptocoins as investments. If the US can ban Americans from gambling online, then cryptocoins should also be banned.

 

[Donut417]

30 minutes ago, jagdtigger said:

There is a solution already called anti money laundering/anti terrorism law. I

If it fell under those laws then the IRS wouldn't be taxing it. Simple. They instead would be going after miners and people holding the currency. Guess what? They are not. Instead they listed Bitcoin on the NYSE. So that effectively legitimized Bitcoin as well as crypto currency as a whole. 

 

 

23 minutes ago, Kisai said:

a) higher energy cost tiers that the utilities can do on their own/higher regulations on dirty energy to discourage it's use (exactly what carbon taxes are for.)

They already do this in many areas. If you use more during peak demand you pay more. Also, in some instances they put a separate meter on things like your air conditoner units so they can turn them off in case of issues with the grid being overloaded. 

 

24 minutes ago, Kisai said:

If the US can ban Americans from gambling online,

BULL SHIT. https://www.playmichigan.com/online-casino/?utm_source=oim Gambling online is legal in Michigan. Federal law doesnt really exist for gambling. Its left of to each state/ Native American reservation. States can legalize or ban casinos. Hell you can live in a state that has banned gambling but drive on to a reservation that legalized it and gamble to your hearts content. 

[jagdtigger]

15 minutes ago, Donut417 said:

So that effectively legitimized Bitcoin as well as crypto currency as a whole. 

What a bunch of morons.....

[Kisai]

2 hours ago, Donut417 said:

If it fell under those laws then the IRS wouldn't be taxing it. Simple. They instead would be going after miners and people holding the currency. Guess what? They are not. Instead they listed Bitcoin on the NYSE. So that effectively legitimized Bitcoin as well as crypto currency as a whole. 

 

 

They already do this in many areas. If you use more during peak demand you pay more. Also, in some instances they put a separate meter on things like your air conditoner units so they can turn them off in case of issues with the grid being overloaded. 

 

BULL SHIT. https://www.playmichigan.com/online-casino/?utm_source=oim Gambling online is legal in Michigan. Federal law doesnt really exist for gambling. Its left of to each state/ Native American reservation. States can legalize or ban casinos. Hell you can live in a state that has banned gambling but drive on to a reservation that legalized it and gamble to your hearts content. 

Take a closer look.

https://en.wikipedia.org/wiki/Online_gambling#United_States

 

Quote

On October 13, 2006, the United States Congress passed Unlawful Internet Gambling Enforcement Act of 2006, which makes it a federal offense, punishable by up to five years in prison, for a gambling business to "knowingly accept" payments "in connection with the participation of another person in unlawful Internet gambling."^[4][12] However, according to syndicated columnist Jacob Sullum, the law did not define or alter the definition of unlawful gambling, which under Federal law only applies to sports betting via the Wire Act.^[12]

 

United States v. Scheinberg

 

Quote

These defendants, knowing full well that their business with U.S. customers and U.S. banks was illegal, tried to stack the deck. They lied to banks about the true nature of their business. Then, some of the defendants found banks willing to flout the law for a fee. The defendants bet the house that they could continue their scheme, and they lost.

Lest ye forget, Pokerstars was heavily, heavily advertised on "free to read/free-to-play sites" and the minute the law changed, they removed the ability to cash out and basically became free-to-play games.

 

Suffice it to say, online gambling is alive outside the US. There is a reason why "illegal poker games" is such a trope in US media. It's one of the several tropes that are unique to US content.

 

There's another site that also lists state-by-state what's legal.

https://www.playusa.com/us/ , scroll down past the ads to the map.

 

[Donut417]

 

6 minutes ago, Kisai said:

There's another site that also lists state-by-state what's legal.

https://www.playusa.com/us/ , scroll down past the ads to the map.

If you looked at what I posted it shows that ONLINE SPORTS BETTING is legal in Michigan. So to say online gambling isn't allowed in the US is utter bullshit. They have been advertising sports betting for month. 

1 hour ago, jagdtigger said:

What a bunch of morons.....

Why? Because it brings in more tax revenue? Its like the cannabis, they are legalizing it because people are going to use it regardless but they can tax it and bring in more revenue. Like they tax tobacco, alcohol, etc. Your just salty as fuck because you cant get a GPU. The fact is crypto isn't 100% the reason. The scalpers are just as much to be blamed for that. Not to mention gaming kinda became a much bigger deal in 2020 as people were stuck at home with nothing to do.  

[Kisai]

Related on the energy front

https://oilprice.com/Energy/Energy-General/Texas-Freeze-Raises-Cost-Of-Charging-A-Tesla-To-900.amp.html
 

the cost of recharging a Tesla went from $18 to $900

 

i wonder how many Bitcoin farms are in Texas.

 

Quote

Spot electricity prices at the West hub have soared above the grid’s $9,000 per megawatt-hour cap, compared to a ‘normal’ price of $25 per megawatt-hour, FOX Business notes.

Remember when I said a maxed out 200A circuit was like charging 4 EV’s? A Bitcoin farm operating right now would be paying $2700/day 

[bcredeur97]

1 hour ago, Kisai said:

Related on the energy front

https://oilprice.com/Energy/Energy-General/Texas-Freeze-Raises-Cost-Of-Charging-A-Tesla-To-900.amp.html
 

the cost of recharging a Tesla went from $18 to $900

 

i wonder how many Bitcoin farms are in Texas.

 

Remember when I said a maxed out 200A circuit was like charging 4 EV’s? A Bitcoin farm operating right now would be paying $2700/day 

there are a couple big mining firms in texas. 

granted, their electricity use would drop in cold weather because they would need less cooling. It's during the summer mining gets ridiculously expensive...

[Letgomyleghoe]

12 hours ago, Nena Trinity said:

 

Well now it affects the average consumer, can we now all agree we need a final solution to the mining problem? 

no, lol, just because someone else is using them for their purposes doesn't mean it's a problem. 

 

12 hours ago, Nena Trinity said:

Make it a crime? The cost of power have sky-rocketed during the pandemic how the hell can they even afford it? O_O

because it's still profitable, rtx 3060ti makes over five dollars a day, after factoring in the price of electricity. 

 

10 hours ago, jagdtigger said:

There is a solution already called anti money laundering/anti terrorism law. Its the same reason why big banks wont touch crypto, they dont know where it comes from and where it goes so they could get into hot water...... But for some reason governments tolerate it which is a huge mistake.

So in that regard why should governments tolerate cash, cash is more untraceable in some regards than crypto, crypto has an open transaction log that anyone can view, you can see the wallet ID that's sent the money, and the wallet ID that recieved it. If you find a way to tack that wallet ID onto someone you can prove a transaction. No one keeps track of the serial numbers on cash, when someone goes and buys drugs at the street corner they don't mark down the fucking serial number on a piece of paper. 

 

10 hours ago, Kisai said:

a) higher energy cost tiers that the utilities can do on their own/higher regulations on dirty energy to discourage it's use (exactly what carbon taxes are for.)

b) forbid banks, card networks from buying cryptocoins as investments. If the US can ban Americans from gambling online, then cryptocoins should also be banned.

 

why? aren't gaming PC's or TV's just waste energy then? sure they don't use nearly as much power as a mining rig, but they are doing quite a lot less than a mining rig in terms of productivity. And why should banks outlaw crypto as investment? that makes no logical sense. 
 

 

9 hours ago, jagdtigger said:

What a bunch of morons.....

why? you don't believe in one of the most secure methods of payment? thats able to be used online and has the traceability of cash? 
Sure it's inefficient, but all of that can be solved, crypto is in its infancy,  there's always room for improvement. crypto is the currency of the future. 

 

7 hours ago, Kisai said:

Take a closer look.

https://en.wikipedia.org/wiki/Online_gambling#United_States

 

 

United States v. Scheinberg

 

Lest ye forget, Pokerstars was heavily, heavily advertised on "free to read/free-to-play sites" and the minute the law changed, they removed the ability to cash out and basically became free-to-play games.

 

Suffice it to say, online gambling is alive outside the US. There is a reason why "illegal poker games" is such a trope in US media. It's one of the several tropes that are unique to US content.

 

There's another site that also lists state-by-state what's legal.

https://www.playusa.com/us/ , scroll down past the ads to the map.

 

you failed to read something in your own quote. Doesn't state anything about the legality of internet gambling, there is such thing as illegal gambling IRL, ever heard of backdoor poker games? 
 

Quote

On October 13, 2006, the United States Congress passed Unlawful Internet Gambling Enforcement Act of 2006, which makes it a federal offense, punishable by up to five years in prison, for a gambling business to "knowingly accept" payments "in connection with the participation of another person in **unlawful Internet gambling**

 

[Kisai]

2 hours ago, Letgomyleghoe said:

 

you failed to read something in your own quote. Doesn't state anything about the legality of internet gambling, there is such thing as illegal gambling IRL, ever heard of backdoor poker games? 
 

Given the way Poker games are portrayed in media, Americans are given the impression that playing poker outside the casino for money is illegal.

 

One of my clients was getting a lot of ad money from poker stars, and the minute this stuff came out, it was like "is it still a good idea to keep advertising them?"

 

Anyways, y'all missed the point. There is nothing stopping the government from treating cryptocoin laundering just like cash laundering. I think the bigger problem is that the lawmakers don't know they should, and that's going to result in eventually the investment banks holding the bag.

 

[Letgomyleghoe]

1 hour ago, Kisai said:

Given the way Poker games are portrayed in media, Americans are given the impression that playing poker outside the casino for money is illegal.

 

One of my clients was getting a lot of ad money from poker stars, and the minute this stuff came out, it was like "is it still a good idea to keep advertising them?"

 

Anyways, y'all missed the point. There is nothing stopping the government from treating cryptocoin laundering just like cash laundering. I think the bigger problem is that the lawmakers don't know they should, and that's going to result in eventually the investment banks holding the bag.

 

there's no need for crypto laundering, just switch you wallet ID, just like you don't need to launder cash. 

if you want to go overboard you switch your wallet ID, if you want to go overboard with cash, there's a few ways to do it, but it's not worth it. 

[Nena Trinity]

8 hours ago, Letgomyleghoe said:

no, lol, just because someone else is using them for their purposes doesn't mean it's a problem. 

 

because it's still profitable, rtx 3060ti makes over five dollars a day, after factoring in the price of electricity. 

 

If the average consumers gets feed up they will buy a console? Oh wait...

 

Depends on the country, here I think mining is not profitable since GPUs were in stock a while longer, it seems to have dried up this month...

[Donut417]

20 hours ago, jagdtigger said:

What a bunch of morons.....

https://www.reuters.com/article/us-crypto-currency-mastercard/mastercard-to-open-up-network-to-select-cryptocurrencies-idUSKBN2AA2WF?il=0

 

Master card is jumping on the band wagon. This was from Level One Techs show. 

[SFFDesigns]

Honestly, I do not think there is anything inherently wrong with mining. If you purchased the GPUs "normally", in that you bought them from BestBuy or something, without using bots, you can do whatever you want. Even if you buy more than one, you are buying them with the same chances of getting one as a "gamer" would.

 

However, when miners get cards directly from manufacturers, or if they use bots, that is unacceptable imo. 

 

I do not think that people buying multiple cards using standard means are doing anything wrong though, since they aren't given an unfair advantage.

[Heliian]

It's a pretty sad state for gamers out there.  A quick look on Kijiji and you'll see ads for $1500 cards, people advertising scalp bots, people selling 6x3070 rigs for 15000$ and my favorite, the wooden framed crypto rig so profitable that it's for sale.  One guy is out there looking for bulk orders of cards too. 

 

Cash out now because this won't last, the market will soon be flooded with abused mining garbage.  It's already getting competitive between scalpers.  Too bad the tax man can't get involved. 

[Kisai]

https://www.techradar.com/news/geforce-rtx-3070-rig-for-crypto-mining-has-been-endorsed-by-gaming-gpu-manufacturer

 

*adds another company to the "companies behaving badly, do not buy from" list.

 

You know, it does beg the question, why government regulations haven't stepped in given the current power cuts, or perhaps even going after nVidia and AMD for producing hardware that is being sold to cryptocoingoblins that is exacerbating the outages.

 

[CTR640]

At this rate it will not get any better as it will probably stay problematic for a long time.

 

And lol at Zotac their shitty move. I can't believe they actually doing that. If I ever gonna upgrade my GPU, Zotac will definitely not my choice.

[Middcore]

Zotac knows they're already considered the bottom-of-the-barrel brand by gamers, and they also know that most desperate gamers will still buy a card from them given the chance, so they have nothing to lose. 

[Donut417]

3 minutes ago, Nacht said:

Crypto currency should be regulated / banned as its often used by criminals or people that avoid taxes.

USD should also be banned. Because its also used by criminals. We should ban Swiss and Cayman Island banks as well. They tend to be used as tax shelters. 

[Kisai]

13 hours ago, Donut417 said:

USD should also be banned. Because its also used by criminals. We should ban Swiss and Cayman Island banks as well. They tend to be used as tax shelters. 

That's too simple.

 

Swiss bank accounts exist because they are a neutral party. That's their entire point, they are not part of the EU, they're not party to any banking rules. By all accounts they are the only country with a "bank" that will deal with everyone without question, and strict privacy laws ensure that is not a problem.

 

The Panama Papers though...

https://www.theguardian.com/world/2019/oct/18/netflix-moves-to-shut-down-lawsuit-over-panama-papers-film-the-laundromat

 

Quote

Mossack and Fonseca sued Netflix this week alleging that the film portrayed them as “ruthless uncaring lawyers who are involved in money laundering, tax evasion, bribery and/or other criminal conduct” and sought a court ruling preventing the film being released.

I've actually seen this film, and it does paint a VERY unflatterling light on pretty much any rich buffoon who owned a mailbox-only company. It's a lot like "The Big Short" in that light, in which case the bad guys still win, but a lot of the dereliction of responsibility is just like "eh, above my paygrade", "then who do I escalte to?" "hell if I know."

 

The only people who ultimately get burned are the people who aren't clever enough to know when their exploit stops working.

 

Anyway, many of the Caribbean countries do "flag of convenience" for the major cruise ship and shipping companies because that makes them immune from liability for things that happen. See 2020 Pandemic for why that's a problem. Where suddenly everyone working on a cruise ship could no longer go home because legally they were subject to hasty border controls imposed, and the ship is technically the jurisdiction of a Caribbean country. 

 

How this goes back into crypto currencies however, there are some genuinely stupid people getting baited into cryptocurrencies, and we're going to see some kind of dramatic price crash again like in 2017.  Bitcoin is essentially at a price right now where it's more expensive to use than cash, so nobody who likes money is going to fork out $25USD to buy a $1 coke with it. At the price level it's at, it would only make sense to use if you're moving $100,000+ at a time.

[Zodiark1593]

15 hours ago, Nacht said:

Crypto currency should be regulated / banned as its often used by criminals or people that avoid taxes.

If people put value into cryptocurrency outside of corporate and government uses, then it is effectively impossible to regulate or ban. Math gives no F’s to what world governments say or do, and is only limited by one’s imagination, which coincidentally, is also impossible to decisively govern.