Discussion in 'New Roundtable' started by locoguano, Dec 5, 2017.
I’ve spent the equivalent of 5 million. Yes I know.
I saw a chart the other day that gave the breakdown on several different Bitcoin mining system. It took into account the electricity costs and everything. The cheaper systems would yield a net loss but the higher end system costing $2800 would yield about $7300 per year based on the current price of Bitcoin.
How are other cryptocurrencies generated?
Are you Dread Pirate Roberts?
Most are very similar. The "Third Generation" crytpo is released instead of mined. Ripple and Iota are two of the big ones.
One of many
You MF'rs are strange
You sure about that? We recently found very well hidden malware on multiple machines at work that supposedly mined for bitcoins and sent them to some remote server out in the wild. I'm not privy to the details, but that's what our cybersecurity team told the management team in our monthly briefing.
Bitcoin mining uses GPU processing power to produce coins. The best high-end gaming PCs can't keep up anymore. Most coins are now produced by ASIC units. Chances are any mining malware would be either ineffective or mining a less popular coin (like Burst, which uses Proof-of-Capacity instead of Proof-of-Work).
Personally, I'm ignorant of cryptocurrency practices. But I ran across this for those of you who aren't.
I feel like Bitcoin will eventually take a giant nosedive. It’s really only worth what someone will pay for it. And I get the feeling that governments will start moving towards crypto currency models separate from BTC.