Bitcoin Mining - Anyone have this going on in their town?

[mtngirl79]

I used to live right down highway 200 from Bonner. The area is heavily checkered with clear cuts and until recently dams on two rivers. Decades of mining waste were piled up behind the Milltown Dam. What benefit did the community get from them? .

Mining and logging at least produced real products like logs sawed in to boards and minerals to make shit out of...

Bitcoin are imagined and having these super computers racing other super computers to crack these super virtual codes... why?

It makes no sense.

[TAFKALVS]

Mining and logging at least produced real products like logs sawed in to boards and minerals to make shit out of...

Bitcoin are imagined and having these super computers racing other super computers to crack these super virtual codes... why?

It makes no sense.

Because, tech bros

[PNWbrit]

Because, tech bros

and "libertarians".

[MontuckyFried]

Because, tech bros

Who will flaunt their Teslas while simultaneously using enough electricity to have an individual carbon footprint bigger than all of California's.

[Mazderati]

Libertarian leaners sound an awful lot like NIMBYs.

[AdironRider]

My biggest beef with Libertarians, and I consider myself one pretty much, is that the concept of "as long as it doesn't infringe on me" pretty much extends to anything they don't like.

[Danno]

My biggest beef with Libertarians, and I consider myself one pretty much, is that the concept of "as long as it doesn't infringe on me" pretty much extends to anything they don't like.

and the definition of "infringe on me" is elastic. A true libertarian should have no issues with this stuff in their community, because even if it results in higher power prices or lots of noise from a nearby property, the owner of that nearby property should be allowed to do what he wants with his property, and any higher costs for power is just how the free market system works.

Except most folks won't call themselves that kind of libertarian when it's in their backyard, then it's time for zoning and regulation and govt intervention.

[skaredshtles]

and the definition of "infringe on me" is elastic. A true libertarian should have no issues with this stuff in their community, because even if it results in higher power prices or lots of noise from a nearby property, the owner of that nearby property should be allowed to do what he wants with his property, and any higher costs for power is just how the free market system works.

Except most folks won't call themselves that kind of libertarian when it's in their backyard, then it's time for zoning and regulation and govt intervention.

This x10,000.

And the fact that they ever leave their house/property and use public resources (roads/sidewalks/paths/greenbelts) is unacceptably hypocritical.

Hell - even using the public utilities to run their computers is pushing it...

[S_jenks]

I used to live right down highway 200 from Bonner. The area is heavily checkered with clear cuts and until recently dams on two rivers. Decades of mining waste were piled up behind the Milltown Dam. What benefit did the community get from them? Do you think all the citizens of Bonner made tons of money off of the degradation to the landscape? Or did the money go to a handful of people who left after the mill and upstream mining closed because something else became more profitable?

What the fuck kind of false equivalence is that??

You seriously think that by comparing bitcoin mining to the timber and mineral extraction industries of MT in the 20th century, you're somehow justifying it? The two are not even remotely comparable, so fuck off with that.

Seriously man, what you need is a serious self-reassessment of your views on bitcoin. Those rose-tinted glasses you are currently wearing need to be checked, as it could prove hazardous to your health.

[stalefish3169]

Mining and logging at least produced real products like logs sawed in to boards and minerals to make shit out of...

Bitcoin are imagined and having these super computers racing other super computers to crack these super virtual codes... why?

It makes no sense.

There is a cryptocurrency exchange called Kraken, and trust me, it's very real.

Why do people pay Visa 2% or more of every transaction? Because they are confident that transactions are properly validated. Bitcoin does the same thing, only without a trusted 3rd party. Basically, all the super code cracking is just proving the network transactions...that person a has so many BTC, and person b paid person c without also paying person d using the same BTC.

To be fair, BTC has nowhere near the transaction velocity as Visa, but that is likely to change, either through technological improvements of BTC, or from newer coins that can already process thousands of transactions per second for very low fees (i.e. Stella Lumens) There are literally hundreds of other cryptos, probably 90% of which are garbage, but some of them are going to be the next Google, Facebook, etc.

Sent from my Pixel 2 XL using TGR Forums mobile app

[skaredshtles]

<snip>
Seriously man, what you need is a serious self-reassessment of your views on bitcoin. Those rose-tinted glasses you are currently wearing need to be checked, as it could prove hazardous to your health.

Not to mention hazardous to his portfolio.

[AdironRider]

As someone who sells a product, I don't take credit cards because they are verified (if anything its a big pain in the ass now with chips and such), it is because I make more money that way. It is bad business to not take credit cards. But even if we use your example, Visa et all are more efficient than using an entire counties electricity to verify a transaction, and cheaper at only 2% of the transaction cost.

Not some bullshit about it being untraceable or whatever.

[skaredshtles]

<snip> but that is likely to change, either through technological improvements of BTC, or from newer coins that can already process thousands of transactions per second for very low fees (i.e. Stella Lumens) There are literally hundreds of other cryptos, probably 90% of which are garbage, but some of them are going to be the next Google, Facebook, etc.

So you're basically rolling the dice with Bitcoin? How do you know that it isn't one of the garbage ones?

[stalefish3169]

As someone who sells a product, I don't take credit cards because they are verified (if anything its a big pain in the ass now with chips and such), it is because I make more money that way. It is bad business to not take credit cards. But even if we use your example, Visa et all are more efficient than using an entire counties electricity to verify a transaction, and cheaper at only 2% of the transaction cost.

Not some bullshit about it being untraceable or whatever.

The power consumption of BTC is a problem, but it will become less of one over time with further innovation. BTC and/or others will be much cheaper than Visa soon...some already are.

The idea of Bitcoin being untraceable is actually a fallacy. Every transaction ever is recorded on the blockchain. Cash is way better for nefarious activities.

So you're basically rolling the dice with Bitcoin? How do you know that it isn't one of the garbage ones?

Don't worry buddy, I have a healthy 401k and have diversified with more than just BTC. Besides, why the hell do you care what imvestimg my money in? Why don't you go in a car thread and tell them their SUVs are so wasteful and they could be getting from point a to b in a Prius.

Sent from my Pixel 2 XL using TGR Forums mobile app

[PNWbrit]

but that is likely to change, either through technological improvements of BTC, or from newer coins that can already process thousands of transactions per second for very low fees

New tulip colors?

[skaredshtles]

<snip>

Don't worry buddy, I have a healthy 401k and have diversified with more than just BTC. Besides, why the hell do you care what imvestimg my money in? Why don't you go in a car thread and tell them their SUVs are so wasteful and they could be getting from point a to b in a Prius.

Goodness.

Methinks the lady doth protest too much.

Indicative? I'd say so.

[stalefish3169]

New tulip colors?

https://bitcoinist.com/coinbase-acqu...aji-srinivasan

https://lightning.engineering/team.html

Don't worry man. It's all just a bubble. There are definitely no Stanford professors going all in. These people are total hacks.



Sent from my Pixel 2 XL using TGR Forums mobile app

[RShea]

So you're basically rolling the dice with Bitcoin? How do you know that it isn't one of the garbage ones?

Bitcoin is one of the earlier ones, best known of the various ones. Maybe that does not make it the best of all the currencies, but just like the market place for something like VCR - Betamax vs VHS, it is not always about being first or having the best technology, many things including the trust of the marketplace and consumers acceptance can be different.

[skaredshtles]

New tulip colors?

I really like the yellow/red hybrid ones. Kinda psychedelic...

[skaredshtles]

Bitcoin is one of the earlier ones, best known of the various ones. Maybe that does not make it the best of all the currencies, but just like the market place for something like VCR - Betamax vs VHS, it is not always about being first or having the best technology, many things including the trust of the marketplace and consumers acceptance can be different.

[mtngirl79]

Who will flaunt their Teslas while simultaneously using enough electricity to have an individual carbon footprint bigger than all of California's.

And why, again?

[Flyoverland Captive]

Cool info here:

https://digiconomist.net/bitcoin-energy-consumption

[skaredshtles]

And why, again?

To stick it to The Man, don'tcha know??

[stalefish3169]

To stick it to The Man, don'tcha know??

Keep defending our current system that is working sooooo well for everyone. You're doing great!

http://amp.timeinc.net/time/money/51...mpression=true

Sent from my Pixel 2 XL using TGR Forums mobile app

[iceman]

Yeah I don't think the current system is even good, never mind great, but the issue that anyone can start a cryptocurrency and there's no way to know how it's going to shake out as far as winners and losers seems major to me. The real winner in crypto may not even have been started yet.

To me it's kind of like people bidding on a cubic meter of sand from an area where diamonds have been found before and hoping that your sand contains a diamond. It might. Odds are it won't. One of them will probably pay off but which one?