This kills the PC gaming

>this kills the PC gaming

Jokes on you I bought my card when they came out.

more like makes millions for graphic cards sellers from little kids that just learned they can make fake money with their computers.

The bubble is in the process of bursting at this moment.

bought my 980ti a bit before all this for $280 USD

Can someone explain this? Why is cryptocurrency messing up PC?

It's not my fault that the 1060 nets me 22MH/s. I'd buy 5 more if I could find them.

As long as coinbase keeps letting me exchange my fake mined money into real USD, I'm happy.

My regular 980 is still rocking everything I throw at it so I don't really care.

Because mining manchildren buy up all GPUs

>cryptocurrency
>fake money
You commies are so unbelievably stupid. You glorify the money that is literally printed by the State - which is the actual fake money if there is any fake money around, even though the concept of fake money is stupid unless you are referring to a fraud - and then you claim that cryptocurrency - which consists of the magic of prices, offer and supply - is fake money.

fuck off and stop trying to pretend it's not for buying drugs

Are gaming GPUs really the best for mining? I highly doubt that they will find any profit, you need some mining-specalized hardware to make any profit nowadays since mining becomes less effective as it happens

it was a joke son.

You haven't been keeping up with memecoin trends.

GPU's are being used to find crypographic nonce numbers in order to validate block hashes on various blockchain networks, and the people who solve them are rewarded with newly generated cryptocurrency which is then usually taken to an exchange like Coinbase and exchanged for US Dollars.

>why don't you buy SOMETHING or at least tell other they should!
No.

No Man's Sky?

Only with bitcoin. Coins like Ethereum and Zcash can only be mined with gaming GPUs.

fuck you now i can't unsee it.

>finally get a job so I can afford a gaymen PC
>tfw cryptonigger craze hits sky-high

What the fuck? What am I supposed to do?

all money is "fake" idioto the first money was IOUs and receipts to promise to trade cows

I have a fucking 770 and it runs everything basically maxed out at 1080p, won't need to upgrade for years. Let the mememiners have their fun.

Wait it out. Expect tons of cheap used graphics cards in the near future.

ETH isn't for drugs pleb

thats bitcoin, potcoin, and cannabis coin

SSDs, RAM and GPUs are expensive as hell
but CPUs got cheaper thanks to AMD
the bubble will burst for GPUs though when idiots stop buying every GPU they can find to generate a profit of a few cents per hour

Join with the cryptoniggers and get free money

Once you set it up that shit mines itself and pays itself off in a couple of months. The only thing you have to deal with is a 10$ a month higher electric bill and a bit of excess heat. I have a few spare 970s generating me about 210$ a month in profit right now.

no mans sky? :D

>more like makes millions for graphic cards sellers

Are you generally fucking retarded, or what? This is in no way good for GPU manufacturers. All these people are just going to RMA their cards as soon as mining isn't profitable, get new ones from the manufacturer, and then sell the brand new ones off.

GPU manufacturers will ramp up production to keep up with mining demand, then lose out on sales from people buying the "used" cards from the miners plus get fucked by their own warranty.

You can't pump & dump forever OP

Can't kill what's already dead

>I have a few spare 970s generating me about 210$ a month in profit right now.

What? That's terrible profit. Where's all the thousands of dollars I keep hearing people getting?

I assume you still live with your parents/you're not paying for your electricity?

They are already releasing cheap "graphics" cards without video output for all the cryptoautists.

Can someone explain cryptocurrency for a dummy like me? Why would anyone be willing to trade real money for online money? If anyone with a computer can "create" more money then what value can it have?

His $210 will become thousands in a few months if Etherium's value keeps getting higher.

Bitcoins were once worth less than a dollar, now they are worth $2400 dollars. There's a story of a guy that once spent 40.000 bitcoins to buy a pizza during its early stages. He was actually sitting on 100 million dollars, that dumbass.

And the same will happen again. People are right now sitting on potential millions, but they will keep trading because they are impatient

This is not 2010, bitcoins can be easily exchanged for State money

Why would you assume that?

I pay 8 cents per KW/h of electricity and a 970 only burns about as much electricity as a couple of long florescent bulbs. I have no idea why people on Sup Forums claim my electric bill is going to be hundreds of dollars more a month or whatever, it's like 15$ more a month at most. I make 10X that in returns.

>why would anyone be willing to trade real money for online money
First of all, there is no such thing as real money. In fact, State money is much more fake than cryptocurrency since it can be printed at the State's will thanks to Keynesian ""economics"".

Cryptocurrency is basically anarcho-capitalism in practice. A market without regulations. Offer and supply regulate the prices. And it worths a bitcoin was once worth less than a dollar, now it's worth over two thousand dollars and the price only keeps getting higher and higher.

It depends on the cryptocurrency. For bitcoin, you have a limited amount of bitcoins available, which consist of an encryption. Users will decrypt it and obtain bitcoins. They are not "creating" money, they are just mining it. Then, they can sell this. It's that simple, offer and supply. As offer grows much more than supply, the price keeps increasing (there's also how mining becomes gradually harder for bitcoin)

Other coins might be a little different but the principle is the same

How's that different from investing into risky business? You could earn millions if you invested into Apple or any other shit when the time was right.

>Why would anyone be willing to trade real money for online money?

You can buy drugs and cp with it.

>Where's all the thousands of dollars I keep hearing people getting?

If you want thousands a month, you'll need a rig that looks like this.

Oh God...

you can do this with cash too

I do have a couple of spare laptops around. I don't pay for electricity since it's included in rent so do you guys recon it would be good to use them to mine some coins?
If so, what's a good coin to mine nowadays?

So is this stuff even worth unless you have 10+ high tier gpus?

>p-please buy some of these coins guys
>i put all my savings into these

can essentially any computer do this even for a negligible amount of cryptocurrency? I kind of just want to see how it works even if I only make $0.01

Can someone also explain what this shit even is? Everytime I ask anons just call me stupid but refuse to give any explanation.

cryptos gonna kill piracy, once they can make a token that is basically your license for a song or media. its over

It only seems the same because - just like any market activity - both are driven by the system of prices, offer and demand, but cryptocurrency is, as the name suggests, a currency. Some places already allow you to pay through cryptocurrency. It's much easier.

>Why would anyone be willing to trade real money for online money?

Because the online money does pic related with the price. It's like really volatile stocks.


>If anyone with a computer can "create" more money then what value can it have?
The "creation" process is very intensive and taxing on hardware, and takes a relatively long time. Value through scarcity and proof of work, like mining gold deep underground.

Seconding these anons. I need some comprehensive guide to these.

PC gaming was already kill lol

>implying I need to beg a loser like you to buy my cryptocurrency
there are websites that will buy it from me instantly no questions asked and entire communities dedicated to this if you want something more personal

the market is gigantic, full of potential and growing very fast

You haven't seen nothing yet.

>buy and decrypt a copy of song or media
>put it on torrent
You are not very bright, are you?

But I just bought $100 worth of vidya off of steam last week using memecoins I mined.

This one is also pretty impressive

>mfw ETH is kill

Found the memecoin farming retard

>p-please buy some of these coins guys

Wait, you actually think that's how this shit works? You do realize I can make 2 clicks on coinbase and cash out to USD in seconds, right?

Don't try mining, it's already too late for that. I suggest buying them and then actively trading.

Example. The value of bitcoin falls by 5%. Buy it. If it increases by 10%, sell it. You already made some profit. Keep doing this and making profit. You can make like 20% in a single day if you are lucky but be patient. It's a great hobby, you'll love it.

Then, once you get experienced with the market, you can try mining some underground cryptocoin that will probably die, but if it doesn't die and somehow get like 40000% profit good on you for hitting a jackpot

I thought Etherium's value already peaked.

How is this going to prevent people from making an mp3 without a license.

They say that about every cryptocoin ever at any given moment

Kiddies want to pretend 'pass the hot potato' is a good investment model.

buy a motorcycle and move on from gaming

Thanks for the bits

retards buy up gpus, instead of waiting a few months for the bubble to either burst or asics to come out for it

As long as you have a fairly modern video card with at least 3GB (I think) of Vram, you can mine ethereum. It's probably too late to make a massive huge profit on it, but mining with a single card on the side when your rig is not gaming could probably net you 30-40$ a month in profit.

Your best bet to learning how this stuff works is watching youtube explanations of ethereum / bitcoin / blockchain technology in general.

I'm going to be a bad goy and actually recommend you check out the ethermining subreddit over on reddit. It has a pretty handy guide to getting started and some good explanations.

But what actually is mining? What do these rigs using graphics card generate?

I just want to try to mine to understand what it essentially is.

>p-please!

i have around 550-600 dollars. where do you suggest i invest them?

>or asics to come out for it

*DAGs your path*

So can I create my own cryptocurrency that's so hard to mine only 1 coin can exist and I make sure I get it because I know the secret mine password and since it's so rare it is worth all the money in the world and then I sell it for 17 trillions??????

Cryptocurrency is too volatile. What about when Bitcoin went into the shitter a couple years ago

You cannot trust a thing you cannot see.

>It's a great hobby, you'll love it.
Don't encourage gambling like that man.

Wait a few weeks for the scam to collapse.

this, today is definitely confirmation that this cycle is over
see you all in three years again, it was a fun session

not quite as fun as last time though, this ico shit was worse that premines

>Bitcoin went into the shitter

Wait I though a single bitcoin were worth thousands of dollars now?

>Moooom, I need more money for my electricity bills!

It's not gambling, it's (((daytrading))).

>currency
No. It's a pure market speculation, which is unlike real estate, stocks, gold or any other shit you could invest into has zero actual value behind it.

Yes because all coins are memes

>has zero actual value
the value is cost in bitcoin's case

Underaged faggot

The process is actually just pressing the "Sell" button, then the "confirm" button, but go ahead and believe whatever you want.
Check out coinbase, ex.io, Bitstamp, or Kraken if you don't believe me.

Yeah they're worth a lot now, and tomorrow if a major exchange gets hacked it could be worth pennies. That's volatility.

I thought it was illegal for someone to make his own money and try to pass it off as real money? How come these people aren't in jail??

It is.
1 Bitcoin equals
2407.83 US Dollar

I remember when some user spent his bitcoins on a pizza early on when they were worth shit lol

>fake money
People have bought houses with that fake money, bubba.

and what exactly determines the cost?

Which exists only because there are some people ready to pay for it. If market dies, there is nothing left. Not even any payback for all the machine time lost on mining.

>back when bitcoin was almost worthless
>thought it was a waste of time
>my friend had some bitcoins though
>value went up a bit
>he used all his coins to buy drugs
>years later
>he would've been nearly a millionaire had he kept his coins
Someone send me back in time please

the current "difficulty"

You're selling CPU cycles for cryptocurrency

It's currency not backed by a govt or commodity; govts can ban it's use but thats about all

So is that pizza baker a millionaire now?

so how do i mine ETH?

Well first off,

>How come these people aren't in jail??
>these people

There isn't really a "these people" with bitcoin. It is decentralized and no single entity controls the network.
What you're thinking of is counterfeit money. It is totally illegal to make fake bills and pass them off as real bills, but nothing about creating your own currency from scratch is illegal.

this is all so fucking confusing

I think I'll stick to paper dollars

He never said if it was a private pizza place or not, if it was then mabey.

>but nothing about creating your own currency from scratch is illegal.
Well, akshually, the government has prevented people from minting their own coins before. I don't have a link but a guy who made "liberty dollars" out of silver was apparently ordered to stop by the Treasury.

govt gonna govern