Go Back   Hardware Canucks > HARDWARE > Video Cards

    
Reply
 
LinkBack Thread Tools Display Modes
  #31 (permalink)  
Old January 13, 2018, 12:37 PM
Mr. Friendly's Avatar
Hall Of Fame
 
Join Date: Nov 2007
Location: British Columbia
Posts: 1,048

My System Specs

Default

Quote:
Originally Posted by Sagath View Post
Any market that is inbred isn't a market at all. It is like a self fulfilling prophecy. When you need people to mine in order for you to get paid it turns in to a rabbit hole. Who is holding the cards at the end? The guy who is hoping to get paid by you selling your coins? Or the guy who is selling hoping someone is still mining so he gets paid? The last man standing will always lose. Always.

Get in first, get out while its hot, let someone else pay the bill. Brilliant.

I've got 2500 or so Garlicoins I've 'mined' off reddit. I'd love to sell if anyone wants to buy.

https://www.reddit.com/r/garlicoin/

Edit: Also, looking for some people to altcoin Garlicoin out into Bruchettacoin. We'll premine ourselves to millionaires and let some other chumps think its the greatest thing ever. It'll be great!
hey Sagath, I think you're a bit off. in this case, crypto's have offloaded the processing to the public rather than massive server farms like everything else, debit/credit/eTF's, etc, is/was done before.

in this case, it's possible because everything is encrypted yet public, making it secure to do. so unless all cc's turn to PoS rather than PoW, it will continue on, as the blockchain is the new wave future technologies will be built on.

all it means is that GPU makers have to figure out how to ramp up their production levels so they fill their current market and the cc niche. :)
Reply With Quote
  #32 (permalink)  
Old January 13, 2018, 01:52 PM
Sagath's Avatar
Moderator
F@H
 
Join Date: Feb 2009
Location: Edmonton, AB
Posts: 3,519

My System Specs

Default

Quote:
Originally Posted by Mr. Friendly View Post
hey Sagath, I think you're a bit off. in this case, crypto's have offloaded the processing to the public rather than massive server farms like everything else, debit/credit/eTF's, etc, is/was done before.

in this case, it's possible because everything is encrypted yet public, making it secure to do. so unless all cc's turn to PoS rather than PoW, it will continue on, as the blockchain is the new wave future technologies will be built on.

all it means is that GPU makers have to figure out how to ramp up their production levels so they fill their current market and the cc niche. :)
TLDR; I rant about why crypto currently is nothing but snake oil.

Foreword: This will be my longest explanation on why I dislike crypto as an investment mechanism. It will also be my last comment on it publicly, as the opinions of those for and against crypto are just too polarised, especially with myself as a mod and trying to maintain civil discourse on a hot topic. So, while you can feel free to reply to my comment, or even PM me, I wont be commenting any further in any forum or post regarding crypto.

First, I'll 100% agree with you that blockchain technology COULD have an impact by offloading cost from PoS based companies, but the current 'coin' market isnt doing any of these things. However, until, as you elude to, a major bank that has physical assets to support blockchain and back up the technology the current implementation is not a currency it is vaporware. Bitcoin has literally no support other then the people hoping someone is buying or selling bitcoin. The guy selling NEEDS you to mine so he gets paid, which in turn 'virtually' pays you, and you need someone else to mine so you can sell and he gets paid, which means he needs...(*draw a circle here*). That is a fallacy of circular reasoning at best, and snake oil at worst.

Russia (strangely enough) is probably closest to implementing blockchain technology and is looking at regulating crypto by backing it with their state banking system. The current talk is a crypto-ruble exchange and backed as a regular financial security.

If your argument will be that ICO's are the 'backing' behind coins, I vehemently disagree. ICO's are nothing more then crowdfunding, and benefit no one more so than the coin creators, and create even more of a circular economy when those ICO's ask for bitcoin or etherium as a payment. Why are there so many coins if this technology is effective at solving a problem as you suggest? What problem is bitcoin solving for their founders, other then making them rich if they get out before the crash? How many fraudulent ICO's have their been where crowdsourced money has disappeared? How many exchanges have 'mysteriously' been hacked, 'lost' coins, gone bankrupt, or the like?

There is a reason regulatory bodies (SEC) exist in professional markets. There is a reason IPO's require information, releases and a portion of public awareness. It is to protect from criminals. The current use of Cryptocurrencies is ripe for abuse and it has been shown countless times.

Companies like Google started with risk taking investments in the hopes of ROI when the company succeeds. Bitcoin does none of these things. I'd suggest reading some economy books, and perhaps researching stocks and their associated means like IPOs.

Anyways, I've commented many times on the forums here about cryptocurrencies, and am usually just ignored or mocked. If you make money, congratulations. Maybe you'll even become a millionaire. Amazing. Regardless, you'll probably want to do something with that money someday other than circle-jerk the crypto-world, or invest in a sound risk-assessed strategy. If thats the case I'd highly suggest that readers educate themselves with some Economic courses and perhaps investment strategies. I'm not a millionaire overnight from Crypto, but I'm also not going to bust tomorrow from my real-world investments either.
__________________
My Disclaimer to any advice or comment I make;
Quote:
Originally Posted by CroSsFiRe2009 View Post
I'm a self certified whizbang repair technician with 20 years of professional bullshit so I don't know what I'm talking about

Last edited by Sagath; January 13, 2018 at 02:02 PM.
Reply With Quote
  #33 (permalink)  
Old January 13, 2018, 02:31 PM
artistpavel's Avatar
Allstar
 
Join Date: Feb 2009
Location: Toronto ON
Posts: 804

My System Specs

Default

Quote:
Originally Posted by Sagath View Post
If you make money, congratulations. Maybe you'll even become a millionaire. Amazing.
That's a pretty big deal. Getting rich is extremely hard in a normie world. I've made more money in the first weeks of January than I would normally do in a year, one just doesn't walk away from something like that, even if half of that market is vaporware.

That funding could also be used to produce value and give back to society, instead of chasing wages, a better world for all.
__________________
х58forLife
Reply With Quote
  #34 (permalink)  
Old January 13, 2018, 04:08 PM
AkG's Avatar
AkG AkG is offline
Hardware Canucks Reviewer
 
Join Date: Oct 2007
Posts: 5,049
Default

anyone risking fiat they can not afford to loose is a fool. anyone making money from mining on 'throw away money' + reinvestment is smart. if it pops it pops. peeps forget that the number does not matter... as long as it all pops at the same time. eg today 1btc is x and you get Y from altcoin Z... and tomorrow 1btc is 1/10th of that... as long as altcoin drop at the same amount it doesnt matter. You get the same fiat from cash out. The only thing that changes is the amount traded for fiat. In fact it could be MORE profitable as less fees eaten up by input costs per transfer.
TL;DR/TL;DU... its a market like any other. Bear or Bull as long as it IS a market there is money to be made. Be smart. Be wise... dont buy btc. mine young altcoin to get btc later.
__________________
"If you ever start taking things too seriously, just remember that we are talking monkeys on an organic spaceship flying through the universe." -JR

“if your opponent has a conscience, then follow Gandhi. But if you enemy has no conscience, like Hitler, then follow Bonhoeffer.” - Dr. MLK jr
Reply With Quote
  #35 (permalink)  
Old January 13, 2018, 04:10 PM
Rookie
 
Join Date: Jan 2018
Posts: 12
Default

I was planning a new build in the next few months but prices are far from returning to normal. I may have to hold on to my watercooled 980ti a while longer :(
Reply With Quote
  #36 (permalink)  
Old January 13, 2018, 07:07 PM
Mr. Friendly's Avatar
Hall Of Fame
 
Join Date: Nov 2007
Location: British Columbia
Posts: 1,048

My System Specs

Default

ICO's, in general, are a bad idea and why feds are cracking down on it all over the world, because of the number of fraudulent ICO's. it is just crowd funding, but it's not based on any tangible product, so it could go tits up and leave everyone holding donkey poop. interesting article in Business Vancouver on how the amount of money generated does not mean it was a successful ICO. a successful ICO is when the technology is adopted...and can be deployed because they raised the funds to support the expansion needed for the product demand.

early December there was mention that Canada has talked about a coin backed by the CAD. USDT is an excellent idea, but it's shrouded in secrecy, making it's use dangerous. it would be very cool if a big name like Musk or Gates were to establish something tied to a fiat balance because they have the capital to support something like that.

and I agree, until there is fiat currency supporting CC, there will be risk. but that said, there are coins out there with a technology using blockchain that are successful. look at Ripple. they are a challenger to the closed, back end processing needed for international money transfers that are/were done via SWIFT (hence the SWIFT code). they've already had big names sign on to use their tech. the unfortunate thing is that because there is a limit to the # of coins that can be issued, it will eventually be a throw away technology for the next deployment for IMT processing via the blockchain.

BTC is vaporware...it's a concept technology of blockchain, but not actually doing anything other than a dollar value due to speculation and misunderstanding of what it is and does. and that was a big issue when it first started to gain popularity. people would issue coins they had millions of for fun and hope it would go up a few cents based on conjecture, cash out and laugh all the way to the bank. blockchain is gaining traction and is going to be one of the biggest disruptors of this century because the use of this technology is unlimited and will change the face of business. one interesting/fascinating use is how it allows you to bypass lawyers and the creating business contracts that allow for corporations with CEO's.

it's new...new scares the establishment and everyone that wants to naysay focuses only on the bad news, the corruption and fraud. that's a pittance to everything good and useful that's being accomplished.

blockchain is the wave of the future. get on the train and take advantage of it while you can!

stop being a shoulda/woudla/coulda.

of course, I'm not saying abandon your livelihood. be wise. innocent as doves, cautious as serpents.
Reply With Quote
  #37 (permalink)  
Old January 13, 2018, 08:14 PM
AkG's Avatar
AkG AkG is offline
Hardware Canucks Reviewer
 
Join Date: Oct 2007
Posts: 5,049
Default

ripple is a scam that needs to die in a fire. It was setup to screw miners and keep the little guys from making money on new tech. THAT is why big banks and int'l types are pushing it so hard. I truly hope rip-you-off-ill is not the future of CC. IF it is it will be 'meet the new boss, same as the old boss'. :(

BTC, like all CCs, is modern day barter system writ large. Nothing more. Nothing less. If you dont believe me ask yourself one simple question: why is a Diamond worth anything? Its a rock. A fairly common rock, worth more than rare rocks. A fairly common rock that can be made in a lab... yet is worth a fortune. ;)
__________________
"If you ever start taking things too seriously, just remember that we are talking monkeys on an organic spaceship flying through the universe." -JR

“if your opponent has a conscience, then follow Gandhi. But if you enemy has no conscience, like Hitler, then follow Bonhoeffer.” - Dr. MLK jr
Reply With Quote
  #38 (permalink)  
Old January 14, 2018, 03:14 AM
IRQ Conflict's Avatar
Hall Of Fame
 
Join Date: Mar 2009
Location: Drayton Valley, AB
Posts: 1,778

My System Specs

Default

I'll just leave this here.
Reply With Quote
  #39 (permalink)  
Old January 14, 2018, 10:34 AM
MVP
 
Join Date: Dec 2012
Location: Chilliwack...Time Is Just A Rubber Band....
Posts: 449
Default

Quote:
Originally Posted by 4DoorGTZ View Post
Without the monetary incentive its a moot point. You can assign points and make a game out of it all you want (folding@home, seti@home) but once those exact same resources can be made to make $ most of us jumped ship.

Whew!....Your post has a lot of Folding @ Home stuff associated with it. I would like to thank you for the help with that research that you have done.

As for the SETI stuff, I think if we find ET it will either make us or break us. A leg up on the universe, or annihilation.

And what does this have to do with GPU's.....some may ask?
Reply With Quote
  #40 (permalink)  
Old January 14, 2018, 01:00 PM
Rookie
 
Join Date: Jan 2018
Posts: 6
Default

Are there any cards not affected by this? It seems even cheaper cards like, the 1050 Ti are up in price, and/or out of stock, is this because its a 4gb card? How does RAM affect its desirability for mining? Sorry for all the questions, I don't really know much when it comes to mining.
Reply With Quote
Reply


Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
price for a gtx 465 geforceftw Price Check 1 January 4, 2013 03:08 AM
GTX 260/GTS 250- Price??? jcmaz Off Topic 4 March 26, 2010 10:33 PM
cpu price mo' power CPU's and Motherboards 5 August 27, 2009 09:11 AM
DRAM spot price rebound foretells upward price trend Eldonko Press Releases & Tech News 1 June 23, 2007 09:16 AM