/tech/ - Technology★

i loaded up an old wallet for some bullshit alt-coin when I realized it was worthless when i was mining it for a few bucks and was now (a year ago) $10 or something.

It loaded up to $500k worth of this altcoin, then went back to zero when i sold it whenever i sold it for $20.

this is why bitcoin people suicide themselves.

>>873254

>this is why bitcoin people suicide themselves.

Good.

I have nothing against the technology itself, but it's current use and spread are a cancer.

>>873254

Your post makes no sense at all. Try again, maybe after a few decades of studying grammar.

>Now all hardware costs more thanks to retarded Bitcoin miners

What a load of shit. Bitcoins are mined with ASICs these days.

RAM is expensive due to increased demand, especially by smartphone manufacturers

>>873267

Oh sorry. That's what I was told by a few people. I just took their word for it and assumed it was true because mining bitcoin now sounds retarded.

>>873268

Tbh the ram price is just increasing because there is an oligopoly

The best thing happened is that dumb normies got tricked into thinking that Bitcoin is "anonymous", and then got busted their normie asses for selling their normie brain alternators.

>blaming expensive RAM supply on Bitcoin

>complaining about the GPU shortage which was a chain event from the RAM shortage, which forced manufacturers to cease production

<Bitcoin miners

Go back to /v/ or some other homosexual shit, you faggot.

>>873268

People don't mine Bitcoin, they mine other shitcoins.

>>873253 (OP)

I remember when Bitcoin was first a thing and it was hard as fuck to mine with an Nvidia card, I had still given it a shot with my 770 and made about a tenth of a bitcoin or something. I remember having thought to myself that the whole thing was worthless since one bitcoin was around ten bucks, so I threw it all away. That said, Bitcoin is a tip top meme that everyone's gotten in on so the ecosystem is so entrenched in shit that even if I still had my fraction of an internet dollar I still wouldn't know what the fuck to do with it.

Basically this >>873263

>>873390

cryptocoins will always rely on miners, without them there is no cryptography, and there are several inflationary cryptocoins, since you obviously have no idea how any of this works, how about doing 10mins of research instead of just shitposting?

>>873390

>isn't reliant on mining

It's called proof of stake. The more money you set aside to stake the likelier you are to win. This makes it so making money is based on how rich you are. (If you own >50% of the coins you can attack the network IIRC). What could go wrong giving all the power to the richest class of users.

>>873390

It would be like normal fiat currency, so there would be no way to kike normalfags into it.

>>873409

As opposed to mining where your ability to make coins through mining entirely depends on your pre-existing wealth to afford the mining hardware.

>>873253 (OP)

no POW

yes POS

>>873420

10 mins of research man, thats all it would take, seriously, you dont [have to] pay a miner fee on [most] inflationary coins, and miners are the equivalent of cashiers, they may not own the product that youre buying, but theyre certainly related to the transaction.

>>873429

>borrow money from your friend

>some kike takes a cut

>repay debt back to your friend

>some kike takes a cut of that too

>>873267

Why the fuck does a smartphone """need""" as much RAM as desktop PC or laptop could be fine with for many if not most everyday tasks? If the phone user isn't using the memory, then who is? Some (((background processes))) mayhaps?

>>873432

Don't you know? Any improvement in processing power is offset by increasingly incompetent programmers this hardware allows to employ.

>>873430

Isn't that the concept of perfect taxation, that any value transfer between any two parties should involve a gain for a certain third party who is in control?

>>873430

how can you be so resistant to education? miner fees arent like taxes, in your analogy the kike takes all them money and drives it across town to your friend, miners arent kikes because they do something to earn the money, if you dont want to pay a miner fee then mine your own transaction or use one of the inflationary coins, ill tell you flat out at this point because if after 3 posts youre not gonna look it up you probably never will, but the inflationary coins inflate [and dont require a fee] because every time a miner does his job coins are created from nothing and put into his account.

>>873434

It didn't use to be that way though. It's only a matter of the past ten year or so (during which period the performance gains were, ironically, quite small compare previous times).

>>873437

It was always that way, newfriend. You can trace it all the way back to the 70s, when computers got out of the "academia and military only" circle.

>>873435

You don't put taxes on transactions. That's something that would get you hanged on the same day in 15th century. You put taxes on income, and maybe property ownership if you're desperate. That's because when income is involved, the transaction have been beneficial for the economy. Taxing every single operation would just hurt the economy. It's basically a very large version of a broken window fallacy.

>>873440

i just explained that you dont, gfd, can you even read?

>>873411

>depends on your pre-existing wealth

I'd rather have people invest actual money instead of virtual money to generate coins

>>873446

>You put taxes on income

First off, the fees aren't taxes. If it was a tax, it would be equivalent to a delayed income tax. You are just taxed when you use the income.

>>873396

>>873429

I've read casually about cryptocoins for years, occasionally even searched around specifically for such a thing, and I've never heard the slightest mention of an inflationary cryptocoin.

>>873409

>stake

>win

RRRGH! I just want a decentralized, anonymous, physical/virtual substitute for cash, not some inane kike casino with a side-order of energy waste. It could be pegged directly to a fiat currency for all I care.

>>873385

Guy its clear that I don't follow hardware that closely. Thank you though for telling retarded posters to fuck off/lurk more. We don't have enough of those atm with all the extra cuckchan users flooding in lately and I appreciate it even if my posts are not apparently the most well informed.

>>873489

Proof of stake systems, kike casinos as you called them, are energy efficient. They're also fundamentally unsound, with too many attack vectors from even self-interested parties.

Proof of work systems are the only functional way to do anything like what you want that we've found thus far, and their nature is to be "wasteful", that's pretty much the whole point of it.

That's why you build on that secured base layer with technologies that can scale, retain the same guarantees and avoid settling on that less efficient base layer for as long as possible. That's what we're seeing now with the Lightning Network and other cool tech like it.

why not make a proof of work algorithm based off of robots digging holes? that way actual work gets done instead of just generating useless heat calculating sha sums.

>>873585

and what would the proof be for your proof of work idea?

>>873625

dirt

proof of dirt

>>873627

So how do you measure it? Is it by mass, volume or by picture?

>>873627

Let me clarify: it would be transported via conveyer belts, weighed, and separated. The dirt is then returned into a separate hole dug by additional robots on the other side of the processing mill. In effect, one cluster of diggers will be digging a hole while the opposing cluster of diggers refills it. During processing, any miniscule gemstones or precious metal flakes are separated, collected, and sorted/melted down by the mining corporation in order to maintain the lowest possible transaction fees. I hereby present to you: DIRTCOIN.

it worked for sand, why not dirt https://en.sandcoin.io/

>>873263

>>873393

yeah bitcoin is as mainstream as the big bang theory at this point and with memes like "100k by the end of the year!!1!!" everyone and their cat will be and is throwing whatever money they have into it and then acting surprised when the thing they bought at an unprecedented high deflates to the ground. It' hilarious because I knew about it when it was worthless from browsing onion forums as an edgy 17 year old and when i told people about it they didn't take it seriously or give a shit and now half the people I know are telling me to sell my house and invest in it like I'm some dumb mongoloid.

The people suiciding themselves because they're fiscally retarded and investing their entire lives into something they don't understand hoping sheer luck will win them the day get no sympathy from me.

>>873253 (OP)

>>873254

Daily reminder that memecoin are designed to:

>trick tech junkies into investing in it

>investing more tech on it and even their only remaining investment

>price drops and flops = suicide

>less warlocks for WWW (world war web)

>>873390

IOTA

>>873631

Maybe you can use it instead to dig, you know, GOLD, rather than dirt? To make a GOLD COIN?

>>875138

iktfb

> Learned about Bitcoin when it was $14

> I had $14K, could have bought 1000 BTC

> Could have sold it less than a year later and been a millionaire.

No use crying over spilt milk.

>>875173

I assure you all of the gold will be filtered out during the separation process :^)

>>873253 (OP)

>hurr durr drug trade

>hurr durr investing in bitcoin is /tech/

>hurr durr you need to be a certain age to use bitcoin

i believe you are looking for >>>/r/bitcoin/

>sour grapes the post

not tech related

>>>/g/

>>873253 (OP)

Same here

What exchanges are there on Tor?

bitcoin miners build their machines in states with cheap power, wasting it away at the expense of everyone living there, its complete disgrace

>>881579

Who's missing out on energy? what the fuck are you on about?

>>873253 (OP)

i heard about it when it was less than $2, i was in highschool and had no way to buy it but i was real interested in it. i was trying to mine it but i couldn't leave it on 24/7. i wish i talked to people on the forums and used gift cards to trade for bitcoins...

>>873253 (OP)

>Learn about bitcoin when it was literally worthless

>Laugh at whatever dumbass actually spent money on buying a pizza in exchange for 100,000 btc

>Never bother to buy in because it's never going anywhere

>Laugh when it balloons in value and then immediately crashes from $30 to 30¢

>See later that it's back up to $30

>Too late to make a profit now

>See that it's $100

>Too late to make a profit now

>See that it's $1000

>Too late to make a profit now

>See that it's $10,000

It's too late to make a profit now, right guys?

>discover bitcoin when it was still only traded in the bitcoin irc.

>neat.

> years later hear it's broken a dollar, and there are public exchanges now.

>start mining, but nothing too serious. Just what ever cards i can get for cheap on ebay or from local gaymers upgrading.

>bail shortly after ASIC's become the only way to mine profitably, because it's clear ROI is just going to keep shrinking unless you have free power.

>Figure it's been a good run, was able to make a few thousand dollars doing nothing.

>Decide to keep a bitcoin for shits and giggles. was worth about $140 at the time.

>now worth nearly 10k

>mfw I made over 13k from buying a handful of used graphics cards for cheap and slapping them into an old tower and letting it run in a closset. Then sold those cards for pretty close to what i paid for them originally.

I feel like i turned up at just the right time with just the right amount of fucks to give so that i would invest enough time/money to make some easy cash, but not get all caught up in it and end up spending 100% of increasingly shrinking profits on the latest hardware until eventually i come up empty because china's power is cheaper than mine. Mathmatically I can't see how small miners even make a profit anymore, unless they sit on their coins for a long ass time before selling.

>>882141

>It's too late to make a profit now, right guys?

If you're willing to play a long waiting game, you might still be able to turn a profit. Bitcoin still isn't accepted as currency by any major product vendors, so if that ever happens BTC will definitely make another huge leap in value. The question is whether or not it will happen.

>>882190

If you have money, why would you risk it on bitcoin today? It's much too volatile, and there are fees in addition to taxes on whatever profits you might make when you go to cash out. At least with stocks and bonds you can keep the fees low by avoiding managed plans and instead using Vanguard or Fidelity index funds. And you can also avoid most of the taxes by doing your transactions for periodic asset allocation adjustments in 401k, IRA, or Roth IRA account.

>>882190

Lightning Network

I dare you

>Like the fifth cryptocoin thread in the past month

Thank you 4chan

>>875145

>Ripple

https://www.youtube.com/watch?v=jpCWCm4KbiM

>>882681

This

>>873267

But that's wrong you fucking idiot.

>>897230

That means it's no longer an incestmen, which is why your brain ethnicity are desperate to shill it so much.

Get burned

>>873267

>Bitcoins are mined with ASICs these days.

Except it's not. Tons and tons and tons of people buy a dozen GPUs each to mine it.

>>897328

Show me any person today with a Bitcoin mining operation with graphical units.

>>873390

Ethereum. Infinite supply, Proof of Stake

How many goddamn kWh do cryptoniggers use up mining? The idea of crypto replacing conventional currency seems absurd simply because of how much fucking power we'd be using just to authenticate transactions. It's a complete fucking waste.

>>897349

Can you imagine nuclear powered mining rigs? I can imagine it because a significant portion of humanity is nuclear powered.

>>897328

dumb trip poster

>>873390

>>873411

>>873420

>>873430

>>873431

I can't even continue compiling all these kikes into one post. This will have to do.

I always find it sides-orbitingly hilarious how these are so many "I'm just any other go - er guy"s in these threads talking about how shit the cryptos are and how fiat is totally better. As if no one is or ever will be shoahed up the ass with fiat or anything.

>>897341

http://www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/

https://www.techradar.com/news/best-mining-gpu

https://tutorials.technology/blog/09-Building-virtual-currency-mining-rig-for-2018.html

https://www.youtube.com/watch?v=N-YgBFNOyto

https://gpu0.com/mining/6-gpu-mining-rig-build/

Do you need more? You're retarded, because you think crypto=bitcoin, when in fact, most average Joes mining, mine something else.

>>897342

>gives you money just because you have money

Great scheme.

since bitcoin keeps dropping in value would now be a good time to invest?

>>897579

Are you retarded? No.

>>897579

I'm predicting a huge dip before monday, which will be followed by an even bigger dip after a brief recovery. I would personally not invest until this happens, although if you feel confident on timings you may try to buy the first dip and sell shortly after to achieve more momentum. This will happen until we reach a price per Bitcoin of $5500, once every one or two months, probably for at least a year even if a decent bull run may happen during December, which will probably be smaller than last year's. But of course you should do your own research because listening to random people on the Internet is a bad idea.

When in doubt, do exactly the opposite of what Reddit says.

Would it be okay to use several older computers to mine alt-coin of low difficulty/price per coin? Doing some basic CPU (2Ghz+, 4 of em) mining for shits and giggles and perhaps earning a few cents?

I do not want to strike it rich, (seriously, how without massively dumping funds to mining rigs?) just kinda fuck around. Power consumption isn't a big issue...

Where are my Linkies

>>897611

that would be good. what would be even better is if you could make your own altcoin. try to make an algorithm that relies on a deprecated 16bit opcode on your old CPU so you can jack up scarcity. then use the hype around "Is That DX66 In Your Garage Worth Millions?" to do an ICO. then fuck off to japan and take a loli bath.

>>897342

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mmmm staaaaaaake...

>>897640

saging works great on a board with 1 post per year.

>>897571

we're talking about bitcoin you retarded niggerfaggot. nobody (aside from investor faggots and charlatans [litecoin et al]) gives a shit about these other coins that haven't grown to ASIC scale yet. the whole reason blockchain works is by being competitive. if any coin becomes relevant it will need ASIC

>>897641

Its about setting an example for the future.

>>897642

Bitcoin is probably the shittiest top 10 coin, technology-wise. I would personally invest in Stellar, simply because the Stellar Consensus Protocol has a huge scalability potential, even if it is premined and that sucks.

>>897642

>nobody (aside from everyone other than my and my ancap autistic asses) gives a shit about these other coins that haven't grown to ASIC scale yet

Ok.

new idea for a coin, Ganycoin. we take a high res shot of the light side of Ganymede each week. each pixel that has gained luminence gains value, and vice versa. any investors? YCombinator wouldn't give me a grant because although I have brown skin I said Coinbase should be thrown off a 10 story building.

>>873390

yes

There is this new satoshi dice address for BTC.

Address is bc1quykuahxrjx6d3h6ga4rkyg0hl5e59tcthqyhw6.

I found this while scanning pastebin

Here are the instructions on how to verify the provably fair roll.

https://codepen.io/anon/pen/vRqPMr?editors=0012

>>898883

I don't understand how it's possible to be private and have a public ledger at the same time.