The NA100 is for big boys who invest in this expensive hardware for longterm gain, I’m sure the people who buy these cards are investing it what BTC could be in 5 years time.
Just incase there is any confusion between ASIC and GPU mining. Generally someone has purchased a truck load of BTC and then they have commissioned people like me to mine Ethereum using my GPU. The person who commissioned my GPU mining jobs receives the Ethereum I mine and then manually pays me in BTC.
That is because not everyone has :
Also, there is an energy crisis, not the first in the world, not the last. An average Bitcoin transaction requires several thousands of times more energy than VISA.
You claim it can take over the payment networks. That’s another blatant lie. A block for Bitcoin’s blockchain can contain 1 megabyte of data. As a new block will be generated only once every 10 minutes on average, this data limit prevents the network from handling more than 7 transactions per second. In the most optimistic scenario Bitcoin could therefore theoretically handle around 220 million transactions annually. Meanwhile, the global financial system is handling more than 700 billion digital payments per year and a payment provider like VISA can handle over 65,000 per second if needed.
You should try not to insult people when there are questions you cannot or obviously will not answer. I keep telling you there is a lot of issues with crypto, you keep shouting i’m stupid. Aaron, the issues won’t dissapear wether i’m extremely smart or extremely dumb. You are actually making Bitcoin and crypto look even worse than it is.
I was polite not to quote “I know this will end badly for you. I want you to know that… very badly” from the US Shark Tank. But now I’ll do it anyways.
For the 12th time…a Gaming computer with 2 very powerful GPU’s does not cost £10,000. You’re about £8,000 to £8,500 overpriced.
I can go on ebay now and buy a mining rig;
Motherboard £30
PSU - £30
RAM - £20
CPU - £50
New 120GB SSD - £25
RX 580 GPU: £199
Risers/Cables - £40
So for £394.00 one could get a mining machine from Ebay and start mining. and then every time a GPU is added it will increase by £199.
The crypto revolution is bringing satellite internet to the remotest of places.
I personally believe most people could learn how to build a computer if they are dedicated.
Don’t forget to haggle.
You could do, but at £394 to generate £0.06/day it would take you 18 years at current rates and imminent electricity price rises to recoup that money, more than likely the card would become unprofitable or fail before then, but even after the investment is recovered this £0.06/day is £21.90/year.
If you put £394 in a savings account earning 3%, you would have earnt £270 in the same period, so you would literally have been better off doing nothing.
You say that you believe Bitcoin will go up, it might, it might also crash, but at the end of the day you don’t and can’t know, it is a guess based on gut feeling, there is no 100% concrete data to back it up and there can’t be, no one can say with certainty how it plays out. In actual fact while the price of BTC would affect any coins you are holding, if you continue to immediately sell them, the BTC price has little effect on your income.
Nicehash mining profitability is determined by the value of the altcoins not the value of bitcoin since the alt-coin worth is what dictates the prices people are willing to pay to mine them, so you are actually gambling on other peoples confidence and/or speculation in alt-coins, since your income is determined by their interest in mining them.
As Aedaxus points out your response has frequently been to insult people or tell them that they aren’t listening/don’t understand. If a group of likely fairly tech savy people who are actively engaged in conversation and asking questions are wrong because they don’t understand, how can you possibly hope that it will gain interest from the wider public, who are even less likely to understand, if they even care enough to try?
I’m not sure what thread you’re reading but I’ve not insulted anyone. I’ve criticised opinions most definitely and I’ve said some people haven’t looked into crypto enough to even determine if it’s a scam. I’ve also called people dismissive and ignorant when it is clear they are being that way. I bet you can’t post one example from this thread where I have insulted someone.
I also pointed out that people should go find answers for themselves if they are interested in knowing more. You seem to talk as if I am trying to convince people to buy or mine crypto, I am not. Also mining crypto really isn’t new, when the difficulty was low you had these web browsers that ware marketed to lots of people on the internet as being able to mine while you surf the net. So the concept of the average home PC user mining with their computer seriously isn’t a new concept. More people than you think are aware that a GPU can mine certain types of crypto.
We must also consider that everybody is looking for some sort of second or passive income, everyone has an ISA, or some sort of financial product that pays out money, Lots of people were looking at more things they can do from home due to being on furlough or losing their job due to the pandemic. So I believe more people than ever would be interested in turning on their computer, starting a process and then coming back a month later to see how much they’ve made.
There really isn’t much to understand from a home mining perspective you just download and install a program, change some settings as directed and then start mining, the PC will remain on mining.
Yes, so it is starting to look like the RX 580 is becoming obsolete based on current BTC value and TDP it was from 2017. I have 5600’s as well as 6600’s. Also electricity cost does vary around the world so figures may look different depending on where the miner is.
The RX 5600 is a good GPU i get a 37M/H and it’s tdp is around 67 watts. I still need to do some learning about underclocking but so far so good.
See I’m not difficult to chat with, when you type facts or well researched opinions you get my agreement.
Dude, I have to ask: All this time I talked to you about the Lightning network, did you not understand what it does? Or are you now deliberately ignoring it so you can repeat a stupid argument you picked up somewhere else?
@an675 other people see it too not just me, I like straight talk Aedaxus should have one way of talking to all of us about the same topic.
you forgot about advantages and disadvantages…
Yes, yes, yes, but it’s a new technology from 2017! Still not mainstream after 5 years. The COVID-19 pandemic has accelerated the growth of digital payment platforms, including PayPal (2003 but almost doubled tranactions during the pandemic), at the expense of the traditional banking sector. Why didn’t the lightning network take over? Besides you (and probably people like you) trying to promote it with anger and hate?
As far as the information goes, it’s expensive but as easy as real banking apps that provide the same thing. https://www.researchgate.net/publication/333997659_Lightning_Network_A_Comparative_Review_of_Transaction_Fees_and_Data_Analysis
Therefor the point still stands, it’s expensive for what it’s designed for. But I guess once I said this the lightning network will no longer be for small transactions as me move towared new and undiscovered goalposts.
lol.
Are you contradicting yourself a little there?
Yet another one. It’s ridiculous that “reputable” companies like CCP want to even touch this turd with a long stick, let alone dive head first into it and promote it as something good and beneficial.
Yeah, 5 years is nothing and it’s already adopted by a country. It’s also integrated in Cash App and Twitter. That’s pretty mainstream if you ask me.
I don’t even know where to start with taking this appart. This is some obvious shitcoiner document that may be convincing for the average crypto bro, but the comparisons they use are complete ■■■■■■■■.
It’s funny you preemptively accuse me of goal post shifting when this is exactly what you just did. You’re whole point previously was that Bitcoin can’t scale because it’s only 7 TPS. And when I ponted out that’s ■■■■■■■■ and called you out that you should know better you just google some new stuff together and vomit it as an answer.
Do you feel like you discuss in good faith? At what point will you acknowledge that you are just trying to be right on the internet and just repeat random stuff you find that seem to support your views in the hope something sticks, instead of actually trying to figure out for yourself how this things work?
If I would ask you, yes… But I rather look at why Currently Tips is not available on web? Only on the iphone and recently android. Mainstream? It just was implemented. So maybe.
Sure, we’ll trust the crypto salesman. Don’t forget to tap the top of the bitcoin wallet before you say how much satoshis can fit in there.
Ok, let me go back. This is a post about NFT’s who might or might not be a scam.
I had some doubts and questions about crypto and the interesting answers you keep giving. I move along with you and the information I get from the Internet.
I am here to ask about Bitcoin and crypto. People here answer X. So I check it out further and find out Y and Z is missing. Then the insults begin, the character assasinations begin. “Good faith?” YOU are here to defend it, I find out people loose a lot of money. After I have to pint everything out you say “Okay, it’s a high risk investment” while Aaron keeps replying anything and everything which I understand as he’s stuck in there.
Lightning is a network and still is a very experimental technology with a lot of issues that still need to be resolved to have a seamless experience. I’m surprised it gets already adopted at all. I think I already mentioned before that I thought El Salvador was a bit early and that I currently see it’s utility more as a banking backend than a payment solution for the mainstream.
Most are scams, some are ridiculous ■■■■■■■■, and what the game companies are doing is trying to use the hype they perceive (may as well just misjudge the scams for hype) to try to add additional monetization vectors to their games.
If there was an actually good application of NFT you will immediately recognize it because it will be a benefit to you. If it’s just about speculating on a higher price, don’t touch any of it.
I defend the technology not the market. I don’t say you should buy Bitcoin. Most people can’t handle the volatility. But you can lose money in every market, especially if you FOMO in at the top if it’s all over the news. You think the stock market will go up forever and never correct? You gonna cry about the people who bought overpriced Apple, Tesla and Amazon stock as well when they eventually correct? You are probably one of them right?
Where did I character assassinate you? I just pointed out how you simply reproduce arguments you find online and don’t even try to understand if they make sense. Why else would you use the 7 TPS argument, it makes zero sense given what we discussed before. So I think I was justified in calling you out for that.
The technology that doesnt do anything better.
Its more energy hungry than what we had earlier and that makes it dead in long run.
Struggling to post a single example where I have insulted someone huh?
No I am not, I believe BTC can help people work themselves out of poverty. I am typing what is possible I am not trying to convince you to do anything except talk facts and gain an understanding of what you’re talking about.
I only suggested you try it so you can see it is not a scam, how else will you know if it’s a scam or not, since I don’t think you listen to anyone. If you think something is a scam then you should leave it at that, there is nothing else for you to debate, your mind is made up.
Imagine all the energy used to produce the needs and consumption of these “banking” people https://www.youtube.com/watch?v=rpNnTuK5JJU I bet he has a large energy footprint.
I was stuck when I was working a 9 to 5 job only, my money was limited. Since mining I have been able to pay off a large amount of my debt so far. You can call that stuck if you like but I am the happiest I have ever been financially in my life. So you could say I am stuck…I am stuck earning more money than I ever have in my life! Go ahead and try to Dismiss that.
