It depends on one’s perspective, Yes it is very much like a casino if you brought crypto with physical cash and are waiting for the value to increase before selling crypto.
A miners perspective is one that they are maintaining a computer with multiple graphics cards and they are paid a cut of the transactions, I view this as more of a maintenance type of job. I suppose the cost of hardware could be seen as a gamble but again the value of the rig and graphics card can easily be recovered due to the hardware being in demand by gamers and other crypto miners.
If one keeps all of their mining earnings as crypto then it is subject to value changes due to price fluctuations of the currency, so yes mining is a little bit of a gamble but a very safe gamble in my opinion.
The tragedy of the commons is the ruination of a public resource by individuals trying to exploit it to their own maximum benefit. It has nothing to do with the status of a person since /any/ person, regardless of being king or commoner, has access to the commons.
In which case the status of a person is irrelevant, since a commoner or a person in a position of authority can equally partake and calling Aedaxus a commoner refutes or contributes exactly nothing unless your only intention is to use it as a sort of pejorative.
The tragedy of the commons comes up in game theory. Specifically the CC-PP game where individuals try to privatize profits (PP) and commonize costs (CC). It is not, as you say, just a meme to justify this or that, but a result of people who perform optimizations rationally to maximize their profit off of a ‘free’ resource. You can argue that what Aedaxus is talking about is or is not actually a tragedy of the commons, but dismissing the entire concept as a stupid meme is probably not the wisest thing to do.
And I don’t consider them because they are not relevant. going full circle mode again ?
If you want to bring a point to my attention, you must explain why it’s worth my attention. Otherwise you are just dodging the point.
But that’s theory. In reality, you can add nodes to a system and actually reduce the efficiency.
No it’s not. You still don’t prove anything but make worthless soup of words. You are a complete ignorant of what a computer is.
A node can belong to a system and generate zero value to the system. It’s actually very often the case in datacenters, where you can have 90% of the servers idle CPU time-wise
In datacenters you can add servers and actually reduce the efficiency of your center.
You are just… completely out of touch with the reality. Belonging to a distributed infrastructure does not mean you generate money.
How can we avoid the rising cost of the electricity resource? Bruteforcing hashes is not an efficient way to deal with electrical power, the more miners the more electricity ‘taken away’.
Like letting cattle grazing fields without investing in renewing the fields.
No one cares except opponents to bitcoin because it’s a weak argument. Did the miner pay for the electricity? Then it’s not a problem.
Also, animals that graze in nature tend to live in balance with the fields strictly because they’re left alone. In nature, things tend to find homeostasis very easily within their environments.
It’s funny, The things you don’t consider are actually what’s happening and people are earning money from things that you say have no value. If anyone is out of touch with reality it’s you for not considering facts and thinking your own narrative is more important than facts.
Since you ignore so much you are ignorant to how cryptography works with computing because you think it’s a scam.
So people add nodes to a system to just sit there and do nothing? In computing Idle just means “available” meaning it’s waiting for a task or waiting to process data or on standby awaiting instructions. The value in having more servers on standby means that whatever service that is supplied by that server can handle a larger volume of workload than their competitor. Having the ability to process a certain amount of data can be used as a marketing tool to get customers onboard so in some ways an “idle” server can add value.
If the server was added to the system and it really does add no value then I think questions need to be raised about the decision makers competency.
In terms of crypto (which you generally try to ignore) all gpu’s and all gpu’s onboard asic’s are all used concurrently, the reason I know any node added to a crypto network adds value is due to current transaction times, on many types of crypto it is long.
When I transfer BTC from nicehash to coinbase I sometime have to wait 2 or 3 hours for it to appear on coinbase.
I may not be able to speak factually on other types of computer networks but on a crypto one all nodes added will add value.
If I were you, I would abandon this line of discussion on ‘value’.
It’s not that I think either side of the discussion is without merit, but that value is relative. People are free to decide completely arbitrarily what does and does not have value to them. Take all the people in the universe out of it, and there’s nobody to ascribe value to anything.
You feel like bitcoin has value, and nodes in a crypto network are valuable. Other people may not. That doesn’t mean you’re ‘wrong’ or ‘right’, but that you’ve ‘chosen’.
If you’re going to advance your position, focus on what people are concerned about. If they’re worried about the environmental impact, address that. If they’re worried about bitcoin moguls scraping money out of the common man, then address that. A belief in the value of bitcoin, cryptos, or NFTs is not, in and of itself, an indication of a scam. Quite the opposite, I’d say. Just leave it at that and let your conviction stand for itself.
I don’t personally believe in the long term prospects of the currency, but unlike some I won’t dismiss what you have to say if it’s not purely an arbitrary assertion of your own preferences. I’d like to go back to more discourse that leads to edification on the subject of Crypto and NFTs, please. (‘Please’ being added just because it rhymes and I could not help myself, not the passive-combative ‘please’ that drips with sarcasm.)
Indeed. What is a scam, is the claim of benefit from a system that does not generate value. Which was my point : if the only people who find value in the system are those who speculate or need to hide their transactions from the state, then it’s in the first case a scam (greater fool) and in the second case it’s money laundering so illegal.
If that is the case, we can say that there is no value in bitcoin in itself (like any illegal activity : it has a negative value for society) .
What’s more, the claim that the ledger will always be present is doubtful at best, since it relies on a constant flow of cash from people buying the accounting from “miners” so that those “miners” keep getting more money from their actions than it costs them. The moment it’s less interesting to mine, then the ledger becomes target of 51% attacks - only people who have an interest in attacking it will keep mining.
That’s part of the problem that plagues us that doesn’t plague the animals on our planet. Such speculation only serves to program ourselves for extinction by demoralizing the bright and brave from even trying to achieve an eternal balance of survival.
No one knows what I buy with cash. Crypto hiding transactions is what everybody wants. Do you think new lovers drop all their dirty laundry to one another? The ones that do tend to find themselves alone.
While criminal people do want to hide their activities, considering monkey men like to wage war over the dumbest things and do witch hunts over fairy tales says otherwise. Furthermore, the only people who think like, “if they have nothing to hide, they have nothing to worry about” as justification for destroying people’s privacy to their personal business are usually lower than the criminals. They’d be right there stoning their own daughters over superficial reasons if they were born in the right circumstances or be the genocidal nazi in ww2. Tax man is in the moral wrong. Currency is already fiat. There is no need for him when they can just manage the system with their fiat.
You can’t own my merit. It isn’t a tangible thing. Taking another man’s money and being protected by law makes them tolerated and hated by many.
