Reddit Posts
Mentions
Read an article about setting up a GPU miner at home. Proceeded to spend the next few months hunting for every GPU I could get my hands on like a junkie....
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
#Hedera Con-Arguments Below is a Hedera con-argument written by a deleted user. > Hedera Hashgraph is Delware Limited Liability Company. > > **It's also a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual voting.** This is the same as Fantom, which is also a a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual elections. The main difference between the two is that Hedera is governed by a permissioned Council of 26 (up to 39) while Fantom is mostly decentralized. > > Hedera has [3-5 second deterministic finality](https://hedera.com/hbar), which is noticeably slower than Fantom's 2-second finality, but is still very fast. > > Hedera was launched in 2019 as a centralized DLT targeting institutional and enterprise companies. It is not meant for the retail sector and has almost no DeFi activity. > > ##Semi-Centralized Proof-of-Authority DLT > > - Hedera uses **Proof-of-Authority** (PoA). It has [semi-centralized governance](https://docs.hedera.com/guides/core-concepts/hashgraph-consensus-algorithms) controlled by the 26 (up to 39) members of the governing council, made up of [publicly-known companies](https://docs.hedera.com/guides/mainnet/mainnet-nodes), and the 7 board of directors. The council each control their own permissioned validator used for consensus. > - New members of the [council are approved by majority vote](https://files.hedera.com/Hedera_COUNCIL-OVERVIEW_2022_JUNE.pdf), and existing ones may be removed by 2/3 vote. Council members can serve 3-9 years consecutively before they have to take a 3-year break. > - There are barely any public details about the staking power of any of the nodes. There is also a Nothing-at-Stake issue because there is no slashing or economic punishments. They may get kicked kicked off the council for misbehaving, but there's no economic disincentive. > - The code was proprietary software that no one was allowed to fork, and it was closed source up until 2022. > - Its nodes have extremely [high enterprise-level requirements](https://docs.hedera.com/guides/mainnet/mainnet-nodes/node-requirements). 5 TB NVMe drives, a $10K NVIDIA Telsa V100 GPU, a 1 Gbps sustained network, Google Cloud Compute Engine VM. These specs are so high that they completely outclass Solana validator requirements. > - Every node has a dedicated GCP IP address, making Google Cloud Platform a possible a single point failure for outages. > > Hedera is designed to be controlled by a conglomerate. Hedera supporters truly believe that is still considered decentralized because they do not believe it's likely publicly-known companies will collude and misbehave. I do not think that design fits well with the crypto community, but acknolwedge that there is a niche community that embraces Proof-of-Authority. > > ##Untrustworthy documentation > > * Much of Hedera's documentation isn't based on the current state of Hedera Hashgraph, but on its ideal state. > * It says it has [a fully decentralized governing body](https://hedera.com/prescription)", which is misleading since they use a 26-member pre-authorized Governing Council. > * It calls itself a "[proof-of-stake public distributed ledger](https://hedera.com/learning/hedera-hashgraph/what-is-hedera-hashgraph)", but it's actually controlled by the governing council and uses Proof-of-Authority. The public hasn't been able to stake (other than the questionable "proxy staking") on it since Hedera's launch 3 years ago. > * For comparison, VeChain is more decentralized than Hedera Hashgraph with its 101 authority nodes and [publicly-available data on their nodes](https://vechainstats.com/authority-nodes/). But at least VeChain is honest about being Proof-of-Authority and even calls itself a [compromise between centralization and decentralization](https://docs.vechain.org/thor/learn/proof-of-authority.html) in their documentation. > * **Real Throughput**: 10K TPS is extremely misleading because it doesn't take into account EVM smart contracts. It published those metrics in 2019, when the smart contact throughput [was 10 TPS](https://ercwl.medium.com/hedera-hashgraph-time-for-some-fud-9e6653c11525), and that was the throughput for Hedera up until Smart Contracts 2.0 released in early 2022. > * Unfortunately, there are no good real estimations for max throughput because Hedera lacks dApps and is a ghost town. It's not congested and regularly sees 5-30 TPS without dApps, so it doesn't get pushed to its limits. With the introduction of Hedera Token Service, Hedera has now somewhat caught up to the misleading documentation it had for 3 years. HTS has an upper limit of 10K TPS, but not everything is going to use it, and [smart contract transactions are throttled at 350 TPS](https://docs.hedera.com/guides/mainnet). Some actions, like TopicCreate and AccountCreate transactions on Hedera are down to 2-5 TPS. We don't know what a real performance is going to look like until Hedera builds up its DeFi presence. What we do know is that it's going to be well below 10K TPS and that it was dishonest with throughput documentation prior this year. > > > ##Horrible Tokenomics > > - There is 38% expected supply inflation in 2022, 50% inflation in 2023, and a [whopping 83% inflation in 2024](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule). I'm very skeptical that the retail sector investing in Hedera is aware of how quickly the circulating supply is increasing and has priced that in. > - Only 42% of the supply has currently been released, guaranteeing high inflation for years down the line > - Hedera very likely passes the Howey Test and would be considered a security asset. It is controlled by a council of 26 companies with a large investment of staked HBAR. Holders of HBAR have an expectation of profit derived from the work of Hedera Hashgraph. > - Nearly [50% of the supply](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule) has gone to employees and the foundation. The majority of the rest (40%) is going to the Hedera Treasury. > - The tokenomics a lot like a giant cash grab ICO that will have years of high inflation. That's extremely scary for a retail investor. > - The 50B token maximum should not be trusted at all and likely will not hold. Those validator nodes that control governance are not cheap and will not run themselves freely once the supply limit is reached. By putting an arbitrarily-high supply, they've simply pushed governance change for tokenomics to be dealt with in the future. > > ##Other > > - DeFi is practically non-existent on Hedera, not surprising since it was built centralized. According to both DefiLlama and DappRadar, Hedera has only one notable DeFi project: Stader. Hedera's [total DeFi TVL of $40M](https://defillama.com/chain/Hedera) is less than 1000x smaller than [Ethereum's](https://defillama.com/chains) and 25x smaller than the nearly-identical Fantom's, which has over 100 DeFi projects on it. > - Hedera uses a [predictable fee schedule](https://docs.hedera.com/guides/mainnet/fees). Token transfers are very cheap at $0.0001. Smart contracts gas fees are considerably more expensive at $0.05 to $1. That's actually really expensive for a 25-node centralized service, but the high fees aren't too surprising because it uses EVM, which is known to be inefficient. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_hedera) to find submissions for other topics.
Yes, that is pretty close. In fact each hash each chip does within an ASIC unit (usually 100s of chips) have such a chance. Hashrate is analogous to how many 'tickets' you have. Each hash would generate a 'difficulty' which even if very high, won't win if it isn't over the threshold. But, but the more hashes, the more chances you have of generating one that crosses that threshold. This is, of course, if you are solo-mining. If you are pool-mining, then it is still the same thing, except that having all the tickets, from all these chips and miners, makes it more likely one of the units in the pool finds a block. The 'gotcha' here, is that most pools have too high of minimum difficulty, that a PC won't generate enough of them to register as a 'worker' to the pool. That means you won't get anything, even though you're contributing, which would be the whole point of joining a shared pool. But, if you can make the code run on your PC, CPU or GPU, it will be mining Bitcoin. It might just take you - not hundreds, but hundreds of thousands - of years. The difference between CPU, GPU, and an ASIC is hard to grasp.
Suppose an attacker had the seed but not in the correct order. If it’s 12 words, there’s 479 million combinations (=12!), which a modern gaming GPU can brute force within 30 minutes. If it’s 24 words, there’s 620448401733239439360000 combinations (=24!).
No unless you are mining with a GPU and point your hash to a mining pool. If you are running a non-mining node, the benefits of running a node is increased privacy (no one can see your balance but you) and the ability to verify your own transactions (decrease chance of getting scammed).
There was enough on day 1 for anyone who cared to look. You didn't need to understand the mechanics of it to grok that a trustless way of exchanging value over the internet was going to be a big deal. And in the early days you didn't need to buy, you could just mine with the default client - or slightly later mine with your GPU using software and techniques publicly shared on the bitcoin forums.
Nope. Any new coin that shows any form of value will immediately be taken over by the existing mining industry and corporations, completely missing the grass roots distribution you need for a decentralized currency. That type of distribution is only possible once. And bitcoin was the reason for the invention of ASIC miners. That happened after there was sufficient CPU and GPU mining. You can't compare that environment to today's, they are completely different.
#Hedera Con-Arguments Below is a Hedera con-argument written by a deleted user. > Hedera Hashgraph is Delware Limited Liability Company. > > **It's also a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual voting.** This is the same as Fantom, which is also a a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual elections. The main difference between the two is that Hedera is governed by a permissioned Council of 26 (up to 39) while Fantom is mostly decentralized. > > Hedera has [3-5 second deterministic finality](https://hedera.com/hbar), which is noticeably slower than Fantom's 2-second finality, but is still very fast. > > Hedera was launched in 2019 as a centralized DLT targeting institutional and enterprise companies. It is not meant for the retail sector and has almost no DeFi activity. > > ##Semi-Centralized Proof-of-Authority DLT > > - Hedera uses **Proof-of-Authority** (PoA). It has [semi-centralized governance](https://docs.hedera.com/guides/core-concepts/hashgraph-consensus-algorithms) controlled by the 26 (up to 39) members of the governing council, made up of [publicly-known companies](https://docs.hedera.com/guides/mainnet/mainnet-nodes), and the 7 board of directors. The council each control their own permissioned validator used for consensus. > - New members of the [council are approved by majority vote](https://files.hedera.com/Hedera_COUNCIL-OVERVIEW_2022_JUNE.pdf), and existing ones may be removed by 2/3 vote. Council members can serve 3-9 years consecutively before they have to take a 3-year break. > - There are barely any public details about the staking power of any of the nodes. There is also a Nothing-at-Stake issue because there is no slashing or economic punishments. They may get kicked kicked off the council for misbehaving, but there's no economic disincentive. > - The code was proprietary software that no one was allowed to fork, and it was closed source up until 2022. > - Its nodes have extremely [high enterprise-level requirements](https://docs.hedera.com/guides/mainnet/mainnet-nodes/node-requirements). 5 TB NVMe drives, a $10K NVIDIA Telsa V100 GPU, a 1 Gbps sustained network, Google Cloud Compute Engine VM. These specs are so high that they completely outclass Solana validator requirements. > - Every node has a dedicated GCP IP address, making Google Cloud Platform a possible a single point failure for outages. > > Hedera is designed to be controlled by a conglomerate. Hedera supporters truly believe that is still considered decentralized because they do not believe it's likely publicly-known companies will collude and misbehave. I do not think that design fits well with the crypto community, but acknolwedge that there is a niche community that embraces Proof-of-Authority. > > ##Untrustworthy documentation > > * Much of Hedera's documentation isn't based on the current state of Hedera Hashgraph, but on its ideal state. > * It says it has [a fully decentralized governing body](https://hedera.com/prescription)", which is misleading since they use a 26-member pre-authorized Governing Council. > * It calls itself a "[proof-of-stake public distributed ledger](https://hedera.com/learning/hedera-hashgraph/what-is-hedera-hashgraph)", but it's actually controlled by the governing council and uses Proof-of-Authority. The public hasn't been able to stake (other than the questionable "proxy staking") on it since Hedera's launch 3 years ago. > * For comparison, VeChain is more decentralized than Hedera Hashgraph with its 101 authority nodes and [publicly-available data on their nodes](https://vechainstats.com/authority-nodes/). But at least VeChain is honest about being Proof-of-Authority and even calls itself a [compromise between centralization and decentralization](https://docs.vechain.org/thor/learn/proof-of-authority.html) in their documentation. > * **Real Throughput**: 10K TPS is extremely misleading because it doesn't take into account EVM smart contracts. It published those metrics in 2019, when the smart contact throughput [was 10 TPS](https://ercwl.medium.com/hedera-hashgraph-time-for-some-fud-9e6653c11525), and that was the throughput for Hedera up until Smart Contracts 2.0 released in early 2022. > * Unfortunately, there are no good real estimations for max throughput because Hedera lacks dApps and is a ghost town. It's not congested and regularly sees 5-30 TPS without dApps, so it doesn't get pushed to its limits. With the introduction of Hedera Token Service, Hedera has now somewhat caught up to the misleading documentation it had for 3 years. HTS has an upper limit of 10K TPS, but not everything is going to use it, and [smart contract transactions are throttled at 350 TPS](https://docs.hedera.com/guides/mainnet). Some actions, like TopicCreate and AccountCreate transactions on Hedera are down to 2-5 TPS. We don't know what a real performance is going to look like until Hedera builds up its DeFi presence. What we do know is that it's going to be well below 10K TPS and that it was dishonest with throughput documentation prior this year. > > > ##Horrible Tokenomics > > - There is 38% expected supply inflation in 2022, 50% inflation in 2023, and a [whopping 83% inflation in 2024](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule). I'm very skeptical that the retail sector investing in Hedera is aware of how quickly the circulating supply is increasing and has priced that in. > - Only 42% of the supply has currently been released, guaranteeing high inflation for years down the line > - Hedera very likely passes the Howey Test and would be considered a security asset. It is controlled by a council of 26 companies with a large investment of staked HBAR. Holders of HBAR have an expectation of profit derived from the work of Hedera Hashgraph. > - Nearly [50% of the supply](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule) has gone to employees and the foundation. The majority of the rest (40%) is going to the Hedera Treasury. > - The tokenomics a lot like a giant cash grab ICO that will have years of high inflation. That's extremely scary for a retail investor. > - The 50B token maximum should not be trusted at all and likely will not hold. Those validator nodes that control governance are not cheap and will not run themselves freely once the supply limit is reached. By putting an arbitrarily-high supply, they've simply pushed governance change for tokenomics to be dealt with in the future. > > ##Other > > - DeFi is practically non-existent on Hedera, not surprising since it was built centralized. According to both DefiLlama and DappRadar, Hedera has only one notable DeFi project: Stader. Hedera's [total DeFi TVL of $40M](https://defillama.com/chain/Hedera) is less than 1000x smaller than [Ethereum's](https://defillama.com/chains) and 25x smaller than the nearly-identical Fantom's, which has over 100 DeFi projects on it. > - Hedera uses a [predictable fee schedule](https://docs.hedera.com/guides/mainnet/fees). Token transfers are very cheap at $0.0001. Smart contracts gas fees are considerably more expensive at $0.05 to $1. That's actually really expensive for a 25-node centralized service, but the high fees aren't too surprising because it uses EVM, which is known to be inefficient. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_hedera) to find submissions for other topics.
In a sense, they are the same thing. If you have a business. That business will need your energy firstly your physical energy and secondly it will have a cost. Expenses, that you would need to cover. Until those expenses and that physical energy presence give you a yield. That means you need money to make money. So if I cannot cover my expenses, my business goes bankrupt. Cause it lacks the economical energy, likewise if I give the economical energy but I have no workers, meaning physical energy to actually do the hard work. The business goes bankrupt. So in a sense, you have to provide physical and economical energy to the instrument, for it to accumulate and sustain a healthy and secure growth Environment/Network The physical energy was already placed into the bitcoin code, that took physical energy to actually code it for some time. The economical energy was given by the miners with their CPU, and then the cpu energy was depleted, the network needed more energy, the miner upgraded to GPU mining, until that energy also wasn’t enough to sustain the network, the miners upgraded their mining equipment to ASICS and here we are. ASICS are upgraded each year cause the network requires more hash power.
Easy. There are 3 narratives to this bullrun. BTC, as a hedge against inflation. Meme Coins, get rich quick. Aritificial Intelligence, because the whole world is talking about Ai. With AKT, you combine Ai & Crypto. They have a AkashChatGPT that is completely decentralized and uncensored, you don’t need an account to use it. Truly decentralized. They have a marketplace for on demand H100 GPU’s that you can rent per hour and start building decentralized applications and immediately deployable. They are the only provider of ON DEMAND decentralized GPU’s. This competes with Amazon AWS, Microsoft Cloud Providers & others like Oracle etc. They are cheaper than all of them by the way. Also, they have an amazing team. Check out their Twitter and you’ll become quickly convinced. They also have the strongest chart in all of Crypto against BTC pair. Check BTC/AKT chart. Don’t make the mistake of denominating AKT in dollars. Do it against Bitcoin. Also, recently listed on Coinbase before ATH. (Mega bullish) they also are on Coinbase Custody which allows bigger players to accumulate AKT & have Coinbase hold it for institutional purposes. & lastly, it’s rumored to almost get a Binance Listing. Check them out and you’ll come to the conclusion that they are probably THE best Ai play this cycle. Easy 20x Maybe 50x I’m in from .55 cents & personally have about 23200 tokens. My conviction is massive. Lmk what you think. If you want a Meme coin ape play, go $Boden & sell in November during the elections.
Difficulty only adjusts after 2016 blocks. So if you take away all miners. It would take GPU's decades to find that many blocks which would effectively kill bitcoin
0x0, GPU, and Opsec can all be winners imo. Sure they’re all AI based but they all provide different aspects of Ai. With 0x0 building a privacy exchange. Opsec focused on building a secure, efficient, and decentralized digital ecosystem. And GPU providing access to GPU and Ai resources.
how do you allocate those 6 coins? Are they all similar utility or diversified? My issue is that I like AI and gaming, so in AI, I dont know whether to buy GPU or Opsec or 0x0. Surely they cant all be winners if in the same space and provide similar utility
I completely agree. I had spent about 6 years in the mining space, very early on. I stopped after GPU mining was really a thing, but helped other mining ventures get onboard.
It all depends on electricity prices to be honest? It's still viable to mine with GPUs, it's not as great as it used to be, but you can still make money. If BTC goes meteoric over the next year as predicted, GPU mining would entirely be back on the table. Just because the rewards are split in half, doesn't mean there isn't money to be made? BTC, at say, $500k/$1M, would be extremely profitable for older methods of mining. When BTC got down to $15k, you'd be looking at a slight deficit at moderate electricity prices. Now would be a great time to buy up old GPUs that people were using for mining, most would probably think they aren't worth their weight any more, but the more BTC is worth, the better it is to mine.
Bloodloop when it comes out, VAIOT, Autonolas, Skey, maybe GPU when it comes out, same with IO.net. But what the heck do I know.
Decentralised GPU network that you can deploy LLM's to or use to train LLM's are something new from the last two years. There is Bittensor (TAO), project from 1.5 years ago. Already pumped to 3 billion marketcap. And there is arbius (AIUS) which was launched couple of months ago, still sitting on a 10M marketcap.
More information: The first Bitcoin halving occurred on November 28, 2012, marking the first subsidy halving in Bitcoin’s history. When block 210000 was solved, the block reward decreased from the original 50 BTC to 25 BTC. At that moment, approximately 10.5 million BTC had been mined, representing 50% of the total supply (21 million BTC). The solution was found by Slush’s pool, and a miner named laughingbear contributed to solving the block using a Radeon HD 5800 graphics card pictured above. This GPU would later be sold to Chaang Noi at a significant markup due to its collectible status on August 26, 2013. Legend! 🔥 Source: [https://en.bitcoin.it/wiki/Halving\_day\_2012](https://en.bitcoin.it/wiki/Halving_day_2012)
When I was in grad school, someone was using a GPU to mine it to make money. I dug in and was fascinated by it. I didn't buy any until years later because, at the time, I didn't have any money, but that was still super early.
Read a wired article in 2010-2011 about a new coin being touted by the cyberpunks. Read up on it, set up a node on an old PC tried mining. The GPU was too old to mine even then. So just had the node set up for a few months in my room just tinkering. Was too broke to actually buy BTC because I was in college. Made sense to me, everything else was going digital, why not money? Been keeping tabs on it ever since. Used to be more evangelical about it, but now my interest ebbs and flows. Always happy to talk about from those interested, but a lot of people have already made up their mind one way or another
There was a random ad about running some program on your computer and they'd pay you in USD. Seemed like a scam, so I did some research and people were like "lol, this is just a shell for polcbm, a way to mine bitcoin with your CPU and GPU. You may as well just mine the btc yourself and convert to USD and cut out the middleman" So that's what I did. And that's how I got onto bitcointalk, and well, one thing led to another...
Satoshi approached us on EVGA forums, and asked for people experienced in software development and testing. Want to see if we were interested in helping test the mining software, and we had to have a modern CPU and GPU in the GTX 200 series, and some Cuda experience. I had all of the requirements for it. Ended up becoming a Bitcoin founder, and ICO’d it.
Company owner of a web host I worked at was mining bitcoin in 2011 and I asked a coworker what the GPU was for in the room and he said Bitcoin. and i've never looked back.
Why are you still talking abut GPU? Blockchain require serial work, which we have hit a really big wall. We only gain single core performance by shrinking the node and we will eventually hit a wall. Also, scaling with Moore's law isn't something specific to Solana, technically every blockchain could just increase block chain x100 and yeet the chain history and call it a day. Btw , major L2 are already starting their plans to decentralize, see ZKsync or Arbitrum
> No, the reason AI has taken off if because of advance in GPU AKA parallel processing Yes, exactly... the costs of GPU have fallen dramatically over the years while compute speed has grown exponentially, meaning it has finally become financially feasibly to gather enough compute power to train a model on a massive data set. Again, the idea is that advance in hardware fuel step function growth in new tech... > I should have specified 26m USD worth of SOL. You should have gotten your facts straight and done basic arithmetic. 15,200 SOL \* $135 = $2.05M not $26M. > on Arbitrum, even if all sequencers act maliciously, you can still fallback to L1 and they are unable to steal funds This doesn't change the fact that a single entity controls the network, idc how hard you try and cope about it. If L2s are the means of an L1 scaling and the L2 runs a single sequencer, there is a massive problem. IDGAF about the escape hatch.
>its the reason why AI has recently taken off No, the reason AI has taken off if because of advance in GPU AKA parallel processing, which has nothing to do with blockchain technology, by nature they are very serialised. So you need to rely on single core performance uplfit (about a 10% uplift every 2-3 years). I should have specified 26m USD worth of SOL. >If your L1 is scaling via centralized L2s, then the L1 might as well as not even exist irrespective of its level of No because you inherit security from your Layer 1, so if your L1 is incredibly decentralised and secure, it dosn't matter that much if your L2 is centralised. For example, on Arbitrum, even if all sequencers act maliciously, you can still fallback to L1 and they are unable to steal funds
The easiest would be just to use the XPUB if you have it (no derivation paths makes things faster). Otherwise, just try say the first 100 derivation paths once you have the XPRIV / XPUB. You should be able to reuse this for the derivation paths so you avoid the expensive 2048 iterations of SHA512 for each derivation path. The bitcoin Rust libraries support this. I wrote a tool that supports this with pure GPU acceleration, but if you are dealing with 49M that should be easy on a modern CPU. [https://github.com/seed-cat/seedcat](https://github.com/seed-cat/seedcat) In my case I needed to try \~100B combinations so GPU acceleration was necessary.
Drives don't mine. Back then it would have been the processor or the GPU that was doing the mining. Given when this was it's probably safe to assume that he was mining with the original bitcoin client. The backup for those wallets were in the form of a wallet.dat file. It wouldn't matter if you stored that file on the same hard drive that the software was on or not. You could have the wallet file stored on an external drive & just tell the software where to locate it. Technically you could move your coins to a cold wallet after mining them but as another person mentioned many of the best practices we use today weren't established then. I have no doubt that if he knew the future of bitcoin he would've kept copies of the wallet.dat file on more than one hard drive. However, it's most likely that he just had the single file on one hard drive & that's the drive that got thrown out.
Just looked into subspace, seems interesting Ionet seems similar to most other AI GPU farms, and I've got burnt with non-payment (salad) before, but I'll read up
ETH is also pretty useless. I got into crypto because I had a small GPU farm (20 x 3070s) and mined ETH. Sending ETH to exchanges and private wallets was insanely expensive. Even right now if I want to use Uniswap to swap ETH for shitcoins I gotta pay $20-$40 in fees. Fuck using L2s
Every couple of days there is another 50K buy from some midsized whale that has 1 million or more on their account. Then the miners dump in to that, but the mining reward is getting tweaked (hopefully soon) which will make the sell pressure decrease. Right now in April, May we will probablly see further BTC and ETH sell ofs so I think arbius will keep between 100 to 300 dollars but early june BTC will probablly start pushing past 80k and Arbius is gonne explode. They have a very impressive LLM demo on https://amica.arbius.ai/ which runs on the arbius network. For redditors that have no clue what Arbius is about. It's a decentalised network of GPU's connected. You can use those GPU's to train your own LLM or deploy your own LLM so other people can use it. If you have an LLM you like, and you want it to keep running without anybody being able to take it down you upload it to Arbius and then it runs decentralised and it's not that easy to take it down. People are sick of the censorship on LLM's if you use chatgpt or claude, a lot of times they refuse to help you. Or refuse to write stories about violence or make a dirty joke. Etc etc. It can be incredibly annoying. Luckily open source LLM's are slowly catching up. And both bittensor and arbius are an attemps at making the training and running of these models decentralised.
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
I mined 4 or 5 BTC back in 2011. I was broke as fuck and a teen, I tried borrowing $100 to hold BTC but my family of course didn't trust fake internet money. I spend those 5BTC in weed, forgot about this shit, then started crying histerically by looking at the price chart back in 2018. Mined a good 2k with my GPU during 2020, sold off at the peak because, of course, I am still broke, and keeping funds invested is borderline impossible when the smallest issue can cause my portfolio to be liquidated. I am DCAing some stuff but I am fully focused on increasing my net income to then be able to invest more effectively, and with a rainy days fund with more than 3 digits goddamn.
Do you really want to play games on the unused cycles of some rando's GPU? How enjoyable do you think that user experience will be? Like, just apply a tiny bit of critical thinking here.
Do you really want to play games on the unused cycles of some rando's GPU? How enjoyable do you think that use experience will be? Like, just apply a tiny bit of critical thinking here.
-Render is a platform that lets users contribute unused GPU power from their home devices to help projects render motion graphics and visual effects. In exchange, they earn Render token (RNDR), the native utility token of the Render Network. Isn't this what OP is looking for? It's got a $3B market cap. It doesn't seem like a total shit coin pump n dump. It prolly has some users I would assume.
The Render Network (rendernetwork.com) is about "distributed GPU rendering on the blockchain".
Oh man what was that around 2013 or so? Hindsight is a b haha. In 2013 I had heard of mining btc for the first time.. back then I could have earned some simply by using my laptop’s GPU. If only I had the financial insight to do that, instead I was busy building shit on Minecraft servers. Ugh.
Then build your own game streaming service on top of a cloud GPU service. I'm just not seeing any reason to introduce a new cryptocurrency project I to this. It's a problem which can and should be solved independently of payment method
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
litecoin(ASICS) and vertcoin (only GPU) are the same as Bitcoin, it is a coin not token, store of value
You are better off buying Bitcoin than trying to mine. Mining made some sense for individuals back when GPU mining was a thing. It doesn't make sense to buy an ASIC.
Do you use decentralized exchanges to trade money (because point of crypto is decentralized money after all)? Do you transact on chain using your money? Do you do leverage trading with crypto currencies? Have you taken crypto loan? Have you ever tried to buy real estate with crypto? All this is regularly being done by people on Ethereum and other layer 1s/layer 2s. On ETH, we have DEXes such as Uniswap, Pancakeswap, and 1inch; Optimism and Base for cheaper transactions; Dydx and Injective Protocol for leverage trading; Aave and Compound for loans, lending, and borrowing; and Propy for buying real estate. Many such utilities that can be provided in a decentralized way. One is supplying decentralized GPU power to AI training. Bittensor does it. It's being used a lot. It's almost at $530 right now. Then, Render does it. It's built on Ethereum. Then you have decentralized utilities like insurance, data collection, gaming, etc., which also have seen some use. All these are done by smart contracts. Most of these smart contracts require real world information (like temperature, satellite images, interest rates, inflation rates, etc.) on the blockchain which is again done by other smart contracts (See ondo). When bitcoin will become money (and not just a stored value) that people will actually start using to transact, things will start to unfold. Groundbreaking techs take time. The community is already doing a tremendous job today.
Coinbase does not have any of the altcoins worth investing in listed. You need to send crypto out to other exchanges that have better projects listed. PoW GPU minables are the only safe-ish play right now and CB has an aversion to listing legitimate projects. Rather than offer commodities that are verified SEC-compliant, they would rather list ERC-20 FroggyScamElonInuWifHat junk coins.
GPU mining for BTC is long gone my dude, this is a node, not a miner
Yup. I had a GTX 680 at the time - a flagship single GPU in 2012, and even then it was considered a waste of time to mine with. For the first six years after BTC’s inception an AMD card that would outperform an NVIDIA card by 10x was cheaper and would consume less energy. I’d always had NVIDIA cards since my first PC and honestly it was the number one reason I never got into mining in the first place, despite being a regular /g/ lurker and seeing discussion about crypto since 2009/10.
the guy was referring to GPU usage on a national level. unfortunately i didn't save the interview. he was saying that, at any given time, only around 25% of GPUs have a task to do. This of course is a rough estimate and really depends on which network we're talking about. But I assume somebody in the DePIN is aware of the estimate, since it would give a lot of credibility to the future potential of distributed computing.
not a question for GPU minders. A question for those who aim to sell compute via DePIN.
Completely bullshit post. 1) There were MANY exchanges that traded Doge in 2014. I have receipts and even some swag like a physical dogecoin from Vault of Satoshi to prove it. 2) a simple GPU rig didn’t mine a million Doge per day. I had several rigs and it took nearly a year to hit 1M.
#Dogecoin Con-Arguments Below is a Dogecoin con-argument written by Chysce. > Dogecoin was [launched in 2013](https://en.wikipedia.org/wiki/Dogecoin#:~:text=In%20addition%2C%20they%20wanted%20to,making%20the%20idea%20a%20reality) as a satirical response to the hype surrounding crypto. In 2015, its creators stepped away from the project. The aim of its creators was to develop a coin that would not be taken seriously by investors, however despite their intentions, Dogecoin still attracted a significant number of speculators. In fact, it became the world's largest memecoin during the first half of 2021, with its value rocketing over 15,000%. > > Like Bitcoin Dogecoin uses the proof-of-work to validate transactions. Doge is merge mined at the same time with litecoin. There are [speculations](https://cointelegraph.com/news/rumor-has-it-that-dogecoin-could-shift-to-proof-of-stake-what-does-that-mean-for-miners) that Doge will switch to Proof of Stake soon but there is no definitive news on this as of yet. > > **>> Doge has no intrinsic value** > > In the very essence Doge has no value. Apart from [sporadic use](https://coingate.com/blog/post/doge-support-much-wow) for online tipping or as a means of payment for some businesses, it does not have a unique use case or solve any real-world problems. Its value is solely based on its popularity. While this can produce exciting short-term gains it is not a viable strategy for long-term investing. > > **>> High Volatility** > > The price of Doge is highly volatile, making it a risky investment. It's price is mostly driven by the Elon Musk's tweets and memes. Nowadays there are even bots that market buy Doge whenever Elon tweets something about it. These pumps are short lived and can cause a big spike in liquidations for unprepared investors. Elon Musk also appears to have distanced himself from Dogecoin in recent times. He did not include Dogecoin as a payment option for Twitter, and he also [tweeted](https://twitter.com/elonmusk/status/1631720134636367872?lang=en) that he is more interested in AI than crypto as of late. > > **>> Unlimited supply** > > Unlike Bitcoin, Dogecoin has no hard cap [no hard cap](https://www.sofi.com/learn/content/will-dogecoin-ever-be-capped/) on the total supply, which means it could potentially be inflated indefinitely. It's current supply increase is [\~4% per year](https://www.analyticsinsight.net/heres-what-you-need-to-know-about-dogecoin-inflation/#:~:text=For%20anyone%20buying%20Dogecoin%20to,4%25%20in%20price%20each%20year). > > \>> **Lack of Development and future narratives** > > Dogecoin has a relatively small development team, and the project has not seen significant updates or improvements in recent years. Additionally very few people run full nodes. Finally there is no clear long-term narrative that could cause its wide adoption > > \>> **Security** > > Dogecoin's mining algorithm is less secure than others, making it more susceptible to 51% attacks. Doge uses a different mining algorithm than Bitcoin, called [Scrypt](https://learn.bybit.com/altcoins/how-to-mine-dogecoin/), which is generally considered less secure than Bitcoin's SHA-256 algorithm. [Scrypt was designed to be more memory-intensive](https://cryptobook.nakov.com/mac-and-key-derivation/scrypt), making it harder for ASIC miners to dominate the network and creating a more level playing field for CPU and GPU miners. However, this also makes it easier for attackers to launch 51% attacks. > > On top of that Doge has a much smaller mining community and less overall network hash rate than Bitcoin. This means that it could be more vulnerable to attacks from miners who control a large portion of the network's hashrate. > > And finally Doge's unlimited supply means that there is less of an incentive for miners to secure the network. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Dogecoin) to find submissions for other topics.
Showing up instantly is a bug, not a feature if the transaction is not included or not finalized. A lot can happen during that time. Some guy got scammed several k$ of GPU a few years back because of this. The transaction can be purposefully sent with low fees and then replaced with a 0 value transaction with higher fees: [https://support.tatum.io/support/solutions/articles/80001085075-bitcoin-replace-by-fee-and-stuck-transactions-in-the-mempool](https://support.tatum.io/support/solutions/articles/80001085075-bitcoin-replace-by-fee-and-stuck-transactions-in-the-mempool)
The GPU team is pretty solid and responsive. Fan of the project. 🚀🚀 you guys can also check out GPU.net.spoke to the team. Pretty solid gpu project as well. They had their node sale on Friday.
Facts, I decided to stop GPU mining end of 2011 because it wasn't profitable anymore.
Hard to believe these days with Nvidia's total dominance in GPUs and GPU compute things, but in those days AMD cards were way better than Nvidia at mining bitcoin. An AMD card equivalent to the 8800GTX might have been an order of magnitude or more faster.
That was about when I started mining and it was not worthwhile with CPUs, jumped straight into the GPU-mining game, and would have made generational wealth if I kept at it just a little longer... instead of just a small profit.
I still feel bad for paying 0.5 BTC on GPU 4-5 years ago. Makes me sick when I think about it. 30k $ for a RTX 2080ti
His comment implicitly ascribes the price of GPU's to shortages caused by mining.
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
you can also play games with a GPU as a school kid...
You’re ignoring the fact that bitcoin pushed a ton of easily mineable coins up. You can act like the GPU shortage and crypto aren’t connected
Yeah, nobody was mining BTC with a GPU then, bro.
Similar story here: remember watching the ATH in 2017 while sitting in the school cafeteria.. good times. Well not really for me since I just so happened to be trying to buy a GPU around then for a pc build Lol
There are sites that calculate your profit levels by coin, Cost of electricity and the device doing the mining. (GPU vs ASIC) ASIC miners mine a particular coin while GPU mining can do pretty well any alt coin. $100 miner seems suspicious 🤔. Check the costs for popular GPU cards. Prob around $800. Its been a while since i did any miming. Let me dig up my notes on how to setup a GPU miner.
If that were to happen, then the average time between blocks would decrease. A little or a lot, depending on how many miners that wizard could actually employ, I mean, it's not as if hardware that can do this new special math just appears suddenly - so presumably only a little at first, as only a few of these new miners would go online and the total hash rate would only increase a bit. Block time would decrease until the next difficulty adjustment. And after the adjustment we would be back to one-block-every-ten-minutes (on average). Presumably, that wizard would bring more of the new miners online and other miners would soon also start using this new wizardry. The hash rate would increase faster than before for a time (again causing blocks to be mined faster and difficulty to increase) until finally all miners use the new technology and everything evens out again. This would actually not be the first time, as it would be similar to what already happened when CPU mining was replaced by GPU mining which was then replaced by ASICS mining.
There are no recommendations that fit your needs. I mean, not a profitable recommendation anyway. 1st of all, you are probably falling for a scam. If you need to give money to mine, and especially if you will need to give money to receive your rewards, then it is a scam and you need to walk away because the alternative is you pay and get told you need to pay more for some reason and again until you finally give up and they walk away... with your money. Mining isn't done using GPU's anymore, you need an ASIC to mine at any speed that is useful. Then to make any profits, you're probably going to need to join a pool like F2Pool, Ocean mining, or others. Check out Bitaxe, a project to create a miner that you can use at home and that is low cost. It also has a low chance of ever earning you anything too. There is no shortcut in Bitcoin. This is why Bitcoin is reliable... You can't cheat, which means I can't cheat, and neither can MrHacker0002
> software that can mine bitcoin for free, on my laptop without frying my GPU No such thing exists
GPU mining can still be profitable, the main question is what to mine.. choose it yourself here: [https://whattomine.com/coins](https://whattomine.com/coins)
Yep, my wife's employer was mining it first with CPU, then GPU it continued for years. He amassed tens of thousands of BTC and was also a target of theft for tens of thousands. The funds he has made public at the moment amount to a few million euros at most.
Yeah. I was fucking around with BTC back then too. I was mining with CPU and then GPU when it became a thing. Spent most of it on onion sites. I try not to think about that. I most certainly would have sold it when my funds gained a couple thousand percent lol. I can’t imagine I would have had the foresight to hold onto all those coins until 2024. Back then it was magic internet money. Not the new gold. But in 2017… I was running a hosted mining business and I had a shit load of my own miners too. I knew. Even though it was only 4 days worth of funds, it still hurts.
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
CloreAI have been around since c2022 and are very well established. DatorAI are very new team and project from Sweden looking to grab some of the GPU marketshare and build on Solana
>irrelevant fork It had its bottom of relevance during 2019-2020, but with recent upgrades it's gaining more relevance because it has more to offer than just BTC but with bigger blocks: L1 DeFi & native tokens baked into consensus. We're growing our own network effect as "BitcoinCash", and after 7 years we accumulated some Lindy, too. >BCH has less than 1% of the hashrate of BTC - I guess even some bigger miners could attack BCH at this point, you don't even have to argue with pools here. Just because it's 1% of BTC doesn't mean the sha256d miners are offering it to sale to whomever asks, the hash is too busy mining what pays. If you're a wannabe attacker, what's easier: to rent out ASICs for sha256d, or to rent out GPU cluster or botnet to attack w/e other-algo coin - even if it's the only coin with the algo. I feel safer buying security from the specialists: the sha256d mining industry, and survival of all chains with their algo is in their interest, even if we only bring them 1% of their combined revenue. Why would you attack your paying regular customer? Also, if an attacker can rent hash for an attack, then a defender can rent hash for a defense too, making the cost of attack unknowable. In BCH-BSV and BCH-XEC forks, whales have shown their work behind the scenes when hash allocation was not matching the optimal distribution just based on block reward. Someone paid for the hash, out of band. Ultimately, all networks are secured by their economies, and with USD 12B mcap, BCH is not a small economy on an absolute scale, even though it is relatively small compared to BTC. >it's totally natural that two forks of the BTC don't find blocks at the same rate as both see different growths in hashrate, even if they run identical code The difference would've been much less if the EDAA was not as bad as it was. I did a plot [here](https://bitcoincashresearch.org/uploads/default/original/2X/5/5148db265cf6095e7555b1a4b8ce48bc70b29029.png), notice the anomaly?
I think around 0.1 might have been more. I remember I mined for about a day on a mid-tier GPU way back in the day, like very very early. Saw my 0.1 was worth literally nothing after like 36hours of mining and quit then and there. Hard Drive is long gone obviously.
I agree. I see the ETF's and big money coming into AI leading this cycle. AI is the biggest trend in the world and it's biggest bottleneck is being solved on blockchains by crowd sourcing GPU's. It has to explode! Right? Please? We just have to get out before the AI bubble bursts!
Considering CPU/GPU mining yields shtcoins you can swap for Bitcoin.... And this method yields NO bitcoin.... Opportunity and energy cost is real.
Student from my class told me about it (CS degree) when it was dual digit (in EUR). Back then I wanted to GPU mine after reading an article about it. But it was already impossible against more efficient FPGA rigs. Purchasing it seemed shady as fuck so didn’t got to buy some. Afterwards I heard about it a few time when it got to triple digit, then got to 200€, then got to 600€. Each time I felt like I missed the train and didn’t bother getting into it. Only when in 2017 everyone talked about it again and not anymore just CS nerds, I got into it. Still got it relatively early after all (low 4 digit).
Slashdot article in 2011 that as far as I can tell no longer exists “Bitcoin mining for fun and profit” I myself had a blog with bash scripts for building headless Ubuntu server GPU mining rigs… once the Chinese traffic got weird I shut that down. You know how there’s the old saying “buy when the streets run red” We’ll there’s no strategic advantage to sharing any information whatsoever in this community. No strategic advantage. Any information is monetized
yeah,, i make 1 $ usd per day,,,,but the catch is,,,,GPU on nicehash
If interested in Ethereum-based low-mid caps, there are many DePin projects that are doing exceptionally well. DePin, AI, GPU rental, & decentralization are very popular narratives. For example, I purchased Destra Network’s $DSYNC on 3/15/24 at .0112. Today, it’s increased to 0.435. OPSEC has done extremely well for me too. Some undervalued similar projects I’m looking for a good entry are the newer project Mineshield’s $MNS & ShadowNode’s $SVPN. HashPowerAi $HASH is currently at .01 and is at a perfect entry today.
Same. Bought a GPU to play WOW and mine at night one summer. That summer btc crashed like 50% + so i was like "btc sucks" and stopped mining. Ah well.
On holiday in the summer of 2011, when my friend was asking me to help him set up a GPU farm for mining this Bitcoin thing he'd heard about from his online poker mates. I passed on the offer and he got help elsewhere. I didn't buy any until November 2017 /facepalm
I would suggest to take some decent risk! Put it into ZKML, GPU, ATOR
Originally you could mine with a CPU, then a GPU, then cheap ASICS.
Good post, but I gotta nitpick here: > Bitcoin is secured by its node network. This is a gross oversimplification and not really true. Bitcoin needs miners/mining power in order to trustlessly timestamp the transactions. If there are just a few GPU miners doing that, it's trivially easy by anyone with an ASIC to wreck the transactions, historical and current (even if it's only to a [limited extent](https://old.reddit.com/r/Bitcoin/comments/z365rq/51_attack_question_can_someone_buy_up_the_top/ixk4nwr/)). Full nodes won't help with that, they **need** a trustless and verifiable source of "truth" telling them which transactions happened first. Without a network of miners, there's no bitcoin and no security. So separating one from the other in that context does not reflect the reality of how it works. > The difficulty adjustment keeps the average block interval at 10 minutes. This limits block creation to 144 per day, and the daily reward to 144 x block reward per day (plus fees) Probably need to mention that fees are a substantial revenue add on for miners (and will only be increased in its significance with each halving and potential increase in prices of btc).
How decentralised can they be if they're offering H100s? Most people can't afford to spend 40k on one of those, so only a few wealthy individuals or companies will own them, making it quite centralised, and there would need to be a ton of them for AKT to be truly on-demand, otherwise people will have to queue/ reserve them, like with Render. Isn't there any provision in AKT for the network, or individual node operators, to reject certain jobs that might be illegal? I certainly wouldn't want my GPU being used to generate deep fake porn or images of CSE. What about GPU or AIOZ? How is AKT better than them? Isn't it likely that a big company like Microsoft or Google that can afford to buy loads of H100s and can power them with free or very low cost electricity will be able to undercut any decentralised network and still make a profit, and users will chose them simply because they're cheaper? Assuming that all of these networks will have some restrictions on what they can be used for, why would someone choose to pay more to use them, rather than a cheaper centralised system?
RNDR doesn’t have on-demand GPU’s nor is it truly a permissionless network. Most people have the impression that RNDR like AKT is a super cloud but in fact it is not. Back to the permissionless idea, you have to fill out a form to get access to RNDR GPU’s. I also feel like they are more inclined to “sell their soul” to centralized institutions. AKT apart from actually being decentralized and having on demand GPU’s they are truly decentralized due to their permissionless nature. They are a super cloud and their network of On demand are some of the cheapest in the market at 1.50hr for H100’s
I currently hold all the ones listed above. 31% GPU 25.4% PAAL 17.9% AIT 10.3% SCALE 9.8% DGI I then have 3.3% in NEURA. It launched a couple days ago and I like it and entered at 0.022 I finally have 1.6% in SCANS. I bought at 0.24 but it dumped a lot. I staked for 4 months so J hope when I unstake I’ll be in profit
Look into AKT. Akash Network. They are providing enterprise level GPU’s on the blockchain. They are at the forefront of Computing Power for decentralized Ai Workloads.
AKT, providing Nvidia GPU’s for Ai workloads over the blockchain. I’m currently staking about 4.5K. Earning .445 AKT a day (market value $2.03) at the time of this writing
Holy cow.. Node AI or $GPU hitting all time highs as we speak.. and with only a $170 million market cap, 90% in circulation, and a actual working product unlike RNDR, which is valued at 20x more. Just use meta mask or uniswap to swap for it.. this one is easily going to $10
its more than 12-13 years. I will repeat myself again, since you seem to lack reading comprehension: 11 years ago is when GPU mining died. USB mining died years before that.
Yes, and even longer than that. That is when GPU died. Those things can't even keep up with CPUs, which died even earlier. Use your brain for more than a second before commenting.
More than just a decade ago. GPU mining died in 2013 when asics arrived. USB wouldn't get you anywhere at that time.
Can you even mine BTC with a GPU these days?
Bitcoin can function as long as 1 ASIC/CPU/GPU is mining. If the current global hash rate stayed the same it could function forever. The only thing needed for the network is to be large enough to make it unprofitable for 1 entity to have 51% of the global hash rate. At the current scale this is not possible. Then even if it did happen. Nodes can just invalidate and ban the corrupt third party from the network making everything they did useless.
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.
You'll need at least a single GPU, like an rtx 4060.
#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.