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We should all start mining

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User Info: sfcalimari

sfcalimari
1 month ago#31
People need to rewatch the bottlecaps episode of DuckTales. Scrooge warned us.
i wanna walk out into the night
without it being running away

User Info: Ruppe21

Ruppe21
1 month ago#32
Wish there was a way to crash the entire system.

User Info: DarkZV2Beta

DarkZV2Beta
1 month ago#33
32x2z posted...
DarkZV2Beta posted...
32x2z posted...
arleas posted...
DiviDude posted...
32x2z posted...
The dollar can be printed infinitely and maintain it's value


oh dear god

Yeah, if that was true then the solution to all the poor people is just to print more money. If you print enough so that everyone has a million, then BAM, we're all millionaires just like the people in Zimbabwe!

https://i.imgur.com/IfjEERP.jpg

That right there might be enough to buy a pack of gum...


You must not know how things played out for our good friends in iraq, libya, afganistan, and any other country who decides to stop trading in dollars. It ends with you those countries trading in dollars again. Why do you think the US military is in Syria? Federal reserve controls inflation rates and printing. You don't understand how being the worlds reserve currency works. Just please be quiet, gamefaqs users do not understand economics save darkbeta.

@DarkZV2Beta

With the rise of cryptocurrency, there's never going to be an end. Let's say your right and bitcoin starts to lose value, what's to stop another "bitcoin" from reappearing? Bitcoin isn't the worlds reserve currency, but when competing against something that cannot be maintained through a banking system, the dollar has real competition. North Korea for example according to various news sources utilizes cryptocurrency since it cannot be tracked. If major countries start trading in bitcoin or in other words "cryptocurrency" since this is a broad market right now, this won't end with simply "I can't mine anymore".

We're not talking about permanence, though. A temporary drop in value would have the same effect, since prices would lower until a more efficient architecture comes out. And obviously, nVidia isn't going to price Volta for consumers when AMD isn't even trying.
Does AMD even have a Vega followup they're getting ready? Or are they going to pull a Bulldozer and just rerelease Polaris and Vega with clockspeed tweaks?


Once again you are correct with AMD lol, all they do is re-release and make new architecture 2-3 times a decade. I hope your right with a more efficient architecture. I personally am hoping IGPU's become more prominent since discreet cards have shot up in price.

I'm skeptical on cryptocurrency going back down to where it was. I just read a news article a few minutes ago where people are buying bitcoin from vending machines with dollars. There was even one where a KFC was accepting bitcoin. If it does become inflated, it still has a long way to go (at least from it's current standpoint) before people forget about it being an option. Your probably right with the inflation though, it's just at this point nothing is going to surprise me. The world is going from paper to digital, it wouldn't shock me if currency followed the same path.

Bitcoin has always been going up, though, but the inflated GPU prices are only during a boom where mining bitcoin generates more revenue than the cost of electricity.
a quad core i7 was just a rebranded celeron -Pengu1n
Anything that has 3p fps or better is fine with me -mucloud

User Info: Izicial

Izicial
1 month ago#34
32x2z posted...
Izicial posted...
32x2z posted...
DiviDude posted...
32x2z posted...
You must not know how things played out for our good friends in iraq, libya, afganistan, and any other country who decides to stop trading in dollars. It ends with you those countries trading in dollars again. You don't understand how being the worlds reserve currency works. Just please be quiet, gamefaqs users do not understand economics save darkbeta.


You can not find me a single model where printing an infinite number of dollars will not debase the dollar into worthlessness. Not one. Zero. It is a null set. No toy model; no DSGE model; no search theoretical model; no SEM. Nothing. Nadda. I know this because I have a motherf***ing PhD in economics, I teach macroeconomics, and my subfield is macroeconomics. Being a reserve currency is literally irrelevant to the issue; the fact that you think it's relevant betrays extreme ignorance on the subject. You would fail a freshman econ course.

No, really. And the confidence you have in spewing your ignorance is exceedingly offputting.


What on earth are you talking about? https://www.nytimes.com/interactive/2016/01/14/business/economy/fed-2010-transcripts-economic-stimulus.html

Excuse me for posting a NYtimes article, but I don't have time to go search for the specifics. This helps point you in the direction I'm seeing the information.

When China started buying their stocks when it crashed in 2017, the yuan went WAY down in value. The federal reserve prints 85bn a month and buys hundreds of BILLIONS in bonds yet the dollar goes up in value. This is not how economics is supposed to work under a normal pretense. Anyone can say anything over the internet. When the USA can print trillions over the course of a few years out of thin air and have 115+ trillion in unfunded liabilities, yet it's currency increases in value, something is not right. This is considering the currency is backed based on good faith and not a real value like lets say gold.

The dollars value has decreased over the years. I'm not sure why you think it has gone up.


You are aware the price of the dollar is set by investors right? Oil is also linked to dollars as oil can only be traded in dollars (under normal pretenses). This along with the shale oil boom caused the dollar to actually increase in value somehow. Normal economics dictates it should in fact be worthless.

A coke costs $1 now. 30 years ago it cost 5 cents. The dollar is worth MUCH less than it used to be.

OR to use your example gas is $2.50 now it used to cost 30 cents a gallon. The dollar is worth a lot less than it used to be.

User Info: Premium

Premium
1 month ago#35
Mining is a mugs' game. If you want to make money off cryptos, treat them as stocks.
How do you ejaculate from plane? I try to press the buttons but I do not find it. Sorry for my bad english - Bean0

User Info: 32x2z

32x2z
1 month ago#36
Izicial posted...
32x2z posted...
Izicial posted...
32x2z posted...
DiviDude posted...
32x2z posted...
You must not know how things played out for our good friends in iraq, libya, afganistan, and any other country who decides to stop trading in dollars. It ends with you those countries trading in dollars again. You don't understand how being the worlds reserve currency works. Just please be quiet, gamefaqs users do not understand economics save darkbeta.


You can not find me a single model where printing an infinite number of dollars will not debase the dollar into worthlessness. Not one. Zero. It is a null set. No toy model; no DSGE model; no search theoretical model; no SEM. Nothing. Nadda. I know this because I have a motherf***ing PhD in economics, I teach macroeconomics, and my subfield is macroeconomics. Being a reserve currency is literally irrelevant to the issue; the fact that you think it's relevant betrays extreme ignorance on the subject. You would fail a freshman econ course.

No, really. And the confidence you have in spewing your ignorance is exceedingly offputting.


What on earth are you talking about? https://www.nytimes.com/interactive/2016/01/14/business/economy/fed-2010-transcripts-economic-stimulus.html

Excuse me for posting a NYtimes article, but I don't have time to go search for the specifics. This helps point you in the direction I'm seeing the information.

When China started buying their stocks when it crashed in 2017, the yuan went WAY down in value. The federal reserve prints 85bn a month and buys hundreds of BILLIONS in bonds yet the dollar goes up in value. This is not how economics is supposed to work under a normal pretense. Anyone can say anything over the internet. When the USA can print trillions over the course of a few years out of thin air and have 115+ trillion in unfunded liabilities, yet it's currency increases in value, something is not right. This is considering the currency is backed based on good faith and not a real value like lets say gold.

The dollars value has decreased over the years. I'm not sure why you think it has gone up.


You are aware the price of the dollar is set by investors right? Oil is also linked to dollars as oil can only be traded in dollars (under normal pretenses). This along with the shale oil boom caused the dollar to actually increase in value somehow. Normal economics dictates it should in fact be worthless.

A coke costs $1 now. 30 years ago it cost 5 cents. The dollar is worth MUCH less than it used to be.

OR to use your example gas is $2.50 now it used to cost 30 cents a gallon. The dollar is worth a lot less than it used to be.


That's not how pricing works. What your referencing is the gold and silver standards which are no longer in effect. Gas prices weren't even 30 cents a gallon in 1972 and that was 46 years ago and the first year off those standards. A coke cost my dad in 1958 a nickel, that was with a SILVER nickel buddy. Gas prices were 30 cents a gallon when GOLD was the backing currency to the dollar. Let's not omit that our currency went from being backed with material value, to nothing other then words and oil.

Let's just recap here. Oil can only be traded in dollars. An oil boom happened for YEARS in the USA. Your claiming the dollars value went down. This is contradictory to reality. The USA is one of the leading manufactures of oil now and it's currency is backed in oil, I'm still trying to figure out how the dollar "went down" since oil can only be traded in dollars and the dollar is the worlds #1 reserve currency.
AMD 8300 4.2ghz-8gb DDR3 1600-1050Ti 4GB-128gb SSD-2.5TB storage-40" 1080P 120hz.

User Info: ArkonBlade

ArkonBlade
1 month ago#37
My 980 TI isn’t really any good for it and it’s not really my thing.
YouTube Channel https://www.youtube.com/user/ArkonBlade/videos
PSN - ArkonBlade XBL - The Wolf Shadow STEAM - ArkonBlade

User Info: Moonse

Moonse
1 month ago#38
thegreatandrewm posted...
To over populate the currency so it is not worth doing anymore and all the prices would come down on pc components. Or would that not work?


Naw, not in any long term, anyway. The amount of mining isn't directly proportionate to the rate of issuance of most coins. Most coins have a block propagation time target, like on average Bitcoin is designed to find a block every 10 minutes regardless of how many miners.

Every time a block is found on Bitcoin the reward of (currently) 12.5 Bitcoins is issued to the miner who found it, in most cases this will be a pool of miners and gets distributed based on work done, so more miners coming into the game will typically just mean less rewards to go around, which may also mean your competitors may buy additional miners to get their desired slice of the pie back.

A sudden major influx of new miners will have a short term effect and bring the block average down temporarily, if the amount of mining increased 10% over night then block times would be like 10% quicker. Bitcoin, however, is made to adjust in difficulty every 2016(?) blocks to bring it back to the targeted 10 minute average.

Most coins have something like this in place to protect value and give a certainty to the inflation rate as buyers wouldn't like knowing their coin could suddenly have a huge rise in inflation, especially if it's a coin without a hard cap on the total supply.
Mind the grue.

User Info: Izicial

Izicial
1 month ago#39
Replying to 32X here because I don't know how to edit out the old quotes and it won't let me post a direct reply because it would be too long or some crap.

There weren't SILVER nickels in the 50s you silly boy. The only time they made those was during WW II. You obviously have no idea what you are talking about. I'm just going to submit to the trolling and not post anymore. It's just depressing at this point.

I CAN'T be referencing the gold and silver standards since those were LONG gone in the 70s as Nixxon is the one who created the fiat currency. The dollars value has decreased. You can attribute that to whatever you want but that doesn't make it any less true. Also what the f*** could 'oil can only be traded in dollars' even mean?? Betcha when France wants oil they go US change these euros into dollars because we can't buy stuff without USD xD
#40
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