Mining cancer

Is reddit right on this one?
Will it ever stop, and how?

Honestly, I don't see why they don't just make a GPU specialized for mining calculations.

Calculations are specifically designed not to work on dedicated hardware. There's one kind of economic processor that's good at this kind of stuff at the moment and it's GPUs. Though I have heard that Nvidia may be planning a line of cards without video outs for the miners, to free up standard GPU supply for those that actually want the G in GPU.

In China, some people will just go to manufacturer to stock graphic card

>Will it ever stop, and how?
If people stop paying real money for fake internet money. This will never happen because there are a ton of desperate people who think they can get rich quick from buying low and selling high (because a few people have done it so why can't they??).

World governments would have to place regulations on trading these magic internet coins which they probably won't because it seems authoritarian and they probably don't care that it's causing idiots to lose their money essentially gambling.

To people lost train bitcoin
Etherum grows 1000 times in 2 years and half.
Now value half bitcoin.

People just want next big coin.

>being butthourt that someone prefers to sell to X then to Y for higher price
read rothbard niggers

Here's hoping crypto crashes early and I can buy a bunch of GPU's super cheap.

I see no problem here, unless you are Sup Forums manchild you dont even need a 1070/1080/ti
if you are then just fuck off back to

Why do Americans have so much trouble differentiating between pallet, palette and palate?

Some tried but miners want to resell the gpus once they're done with it.

we speak american here fag

There are. But because they're mining-oriented they lack features like actual video output to save manufacturing cost and noone is interested in buying them because a big thing for "home gamer" mining setup is actually reselling the hardware to return some of the initial investment as soon as it's usefullness wears out

Why would you buy washed up GPU's?

...

>Calculations are specifically designed not to work on dedicated hardware
How? Crypto mining is just adding nonces to the block until the hash ends with a given pattern.

I don't see why they couldn't just design it such that there is a faster hash rate but they also don't really do the graphics. Kind of like an opprotunity cost.

To become part of the market, they have to stay competitive.

You'd have to ask a crypto nerd. My understanding is that other than the original Bitcoin mining, they've been specifically designed to resist dedicated hardware. Apparently something to do with requiring rapid and sizable memory access, i.e. VRAM.

> How? Crypto mining is just adding nonces to the block until the hash ends with a given pattern.
Making ASICs involves using static ram which is increadibly expensive and large on greater scales. It would costs a lot more to build one than it create by hashing. See why miners buy 6gb 1060s instead of 3gb ones. This algo needs a lot of ram.

Yes, it will stop once the entire crypto-sharade comes down to a screeching halt.
However, this is a bubble and all the normies are simply waiting for the "dip" to buy into "Bitcoin." Unfortunately, some alt will eventually take its place. Cryptovester gives this bubble anywhere from 6 months to 2 years so being a pragmatist I am, I decided to jump in and make some money out of this bubble while I can.

It wont stop until either the coin bubble bursts or someone manages to create a resistant ASIC miner against ERC-20 tokens, the lifeline of most new crypto currencies.

mmm, I have a 1070 that I barely use since I stopped gayming a year ago.

Can I make money with it?

1070 going for $550+ on eBay

when the bubble pops it will stop being profitable

This why I never got into crypto. Rich people get richer the one or two card miners just support the richers mining / crypto sales.

>reselling the hardware
Better be a hefty price reduction for older cards, that were in use on 100% load 24/7 for several months.

It's crashing again

This

But they have to do something to stop this price gouging. It IS getting bad. RAM is pretty bad as is. All they got to do is make AND label certain graphic cards as specifically-made-for-mining. Keep it separate from regular graphics cards. It's the only thing they can do.

Miners will be more attracted to cards that supposedly are listed as for mining. If they buy every single card then it's your fault for being poor to be honest.

Nvidia and AMD are not going to risk the costs associated with designing, manufacturing and distributing a custom die for mining when it's a fluctuating gamble like this. They have shareholders, and the shareholders don't like their money to be used in some crapshoot like that. And if they actually designed the dies, got the contracts for the foundries, made the dies, packaged them, sold them to card makers, made the cards, got them to retailers and sold them, then they wouldn't want to risk not being able to sell to their main audience - video card buyers (individuals and companies alike).

when it stops being profitable, people turn off their miners
when people turn off their miners, the difficulty goes down
when the difficult goes down, the profit goes up

>Miners will be more attracted to cards that supposedly are listed as for mining.
You don't understand how scrupulous miners are, they only look at the best bang for the buck so it doesn't matter if a graphics card is labeled for "mining," they'll still buy your vidya card because it still provides a decent hashrate vs. cost ratio

Whenevet I see "people" calling crypto things like fake money, magic money, etc, I wonder how can someone have so little knowledge of fiat money and why its the fakest money of all, specially usd

The difference is that USD is backed by the US GDP and the government.

Cryptocurrencies are backed by computers doing worthless calculations in the most inefficient way possible.

>the gold standard
Google fractional reserve banking and how small this fraction has become
>backed by us gov
Toppukekku nigger

Miners will just find another coin to pump and dump

These "worthless calculations" make sure you cant print money for your kike friends, since inflation is hardcoded at a very small rate.

This is where free market fails, lmao. They can buy and sell whatever the price they want. I had bought GTX 1070 1.5 years ago with a really good deal. Now I can sell it for 3x price, even though warranty is over.

What the fug.

if you think the gold standard has anything to do with what it means for USD to be backed by the US government in 2018, then you have below an intro undergraduate understanding of currency markets.

idiot detected

If you cant understand why usd NEEDS and crypto DOESENT need backing from aircraft carriers, you are missing the point of a trustless decentralized blockchain and probably have very little knowledge of macroecon and general public mentality.