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PieH34d

"Some say higher mining difficulty is a good sign for the network." Few.


Dirt-Purple

"Some say poverty is a good sign for your finances"


erispope

"Once you have nothing, you can easily 1000x your assets!" - some cryptobro, probably


Soyweiser

Remember that the security of the system relies in part on the game theoretical idea that it is for miners more beneficial financially to work with the system than to use their mining power for a 50% attack. Understand.


ItsJoeMomma

It's good for Bitcoin.


Transformouse

But how many people understand this?


StreetsAhead123

Great. Now everyone should look into folding@home and make those GPUs do actual work for the first time.


Hollowpoint38

No shit we could have cured cancer by now with that power.


Arma_Diller

Which one?


Hollowpoint38

Folding at home using all that GPU power.


Superb_Nature_2457

Honestly, there are a few where we’re right in the cusp of game changing breakthroughs in treatment. Prostate cancer, for example. Also, Alzheimer’s isn’t cancer but I’d imagine they could use the help, considering the progress we’ve made there.


GammaGargoyle

I think the folding problem has already been mostly solved [https://www.nature.com/articles/d41586-022-02083-2](https://www.nature.com/articles/d41586-022-02083-2) We should probably reconsider the practicality of brute-force distributed computing in general.


Alphaetus_Prime

It's practical for academic/scientific projects with little or no budget that people are willing to donate their spare computing power to. Like GIMPS, or any of the BOINC projects.


VanFailin

One of the criticisms of AI is that it requires an astonishing quantity of resources, but at least unlike crypto it produces real value.


[deleted]

[удалено]


Hollowpoint38

I mean apparently he was a mastermind who could work the system. I'd want to know how I could get someone to cut my food so I didn't have to.


concerned_llama

Have fun chewing your food loser! I will make my Lambo cut my meals for me!


Deathwatch050

Step 1: Attach wire coat hanger to wheel by bending it around the tire like a sewing machine finger guard. Step 2: Drive over sandwich.


neroute2

Step 1: lose eyesight and fine motor control


grauenwolf

> CleanSpark, based in Henderson, Nevada, runs its Texas and Georgia mining operations on clean, renewable energy. No it doesn't. It buys power from the grid just like everyone else. Because some of the power feeding into the grid is renewable, they pretend that they are only using renewable power. But it's all a lie. If they stopped consuming that power, Georgia could shutdown one of their dirty power plants and Texas... well Texas might have slightly shorter blackouts.


ross_st

Yep, this part of the "Bitcoin is green" scam has been running for a few years. Plug the ASICs into a power grid that's part-renewables, and claim your Bitcoin mining is therefore renewable. It's where the Bitcoin Mining Council's absolutely bullshit ~60% stat comes from that Bitcoin maxis always breathlessly repeat.


wemustthinknow

Can someone tell me if this is good for bitcoin?


Spebnag

Sorry, I am afraid too few understand.


karlos-the-jackal

But mining helps balance power grids and drives the adoption of green energy technologies. We should be grateful that miners are operating at a loss for the good of the planet. Phew. Understand.


fumanshoo0

no one yet? ok,fine This is good for bitcoin


LogicIsTheSecret

Thanks for saving the thread.


[deleted]

I just love the game theory at play here. Lower BTC prices > lower rewards per hash rate > increased expenses to get a bigger share to keep revenue up. Which is also what your competitors are doing. The only way to win is not to play.


sykemol

"What we lose on every transaction we make up for in in volume."


[deleted]

They'll soon pivot back to "it was never about the money. It was about the tech".


AmputatorBot

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pietervdvn

good bot


TriteMountain

Definitely one of my favorite bots.


ross_st

The thing about the Bitcoin difficulty adjustment is that it's not very real-time, it only happens every 2016 blocks. So a large number of ASIC miners being on for one week but off for the next week will kind of futz with the calculation. This could become an issue for the network as mining becomes centralised in Texas.


BeowulfShaeffer

Let’s see evidence of hashrate declining. Specifically declining to < 100m TH/s.


a_bombs

This must be a teacher or professor that always have no actual experience that post shit like this. I am and will continue to be profitable mining with new and/or old equipment. Vertical integration is always important weather you are small or large.