Crypto-Currencies and Bitcoin

[BMAN]

I should of listened and bought ETH. Is it too late?

Also if I wanted to do research, what’s a good place to start? Do I just start googling?

 

[KI4MVP]

I think I've gotten 40% in less than two weeks lol.

Btw- if anyone is getting into crypto and decides to use coinbase, make sure you set up 2FA. Also note that there are a few small quizzes that give you small portions of a handful of crypto coins. Takes make 15 min and you can get a few bucks in a few coins you may not buy yourself.

and can instantly convert that to ETH. Between less than $5 of bitcoin I had left over a few year ago when I had to use it to fund an online poker account with $25 (transferred a little extra because the price could fluctuate between the time I put money in and when I moved it to the poker account), finally taking those quizzes a few weeks ago, and transferring all of that to ETH, my coin base account is now worth $106.

 

[bigfoot5415]

and can instantly convert that to ETH. Between less than $5 of bitcoin I had left over a few year ago when I had to use it to fund an online poker account with $25 (transferred a little extra because the price could fluctuate between the time I put money in and when I moved it to the poker account), finally taking those quizzes a few weeks ago, and transferring all of that to ETH, my coin base account is now worth $106.

Im getting slammed in gas fees. I paid like $100 to move $400 a few days ago. I tried buying up a few alt coins and the gas fees were more than the actual transaction so I have since been focusing on trying to buy in LTC on bitforex.

 

[ohiorulez]

 

[KI4MVP]

This is what caused the concern.

 

[Out of the Rafters at the Q]

This is what caused the concern.

Sure looks like a scapegoat to me.

What percent of the world's bitcoin mining can be tied to that single power plant?

It's probably comparable to nuking all of China because someone in Beijing stole your purse.

 

[bigfoot5415]

Sure looks like a scapegoat to me.

What percent of the world's bitcoin mining can be tied to that single power plant?

It's probably comparable to nuking all of China because someone in Beijing stole your purse.

I'd have to find the article but I read something like 60% of all bitcoin mining is done using renewable energy.

 

[Ohio]

Elon manipulating the market for his own benefit. Sure he sold a ton and will be buying back here shortly.

Fucker

 

[KI4MVP]

I'd have to find the article but I read something like 60% of all bitcoin mining is done using renewable energy.

That's 40% too low. Bitcoin mining fully uses as many resources as are thrown at it by design. As long as it's cost effective to mine with fossil fuel power sources, people will do that.

In the case of the one plant, it was specifically reopened just to mine bitcoin. How does anyone think that's okay during a climate crisis?

Opening that power plant accomplishes absolutely nothing productive. The bitcoin mining could function equally well with 1% of the resources it currently consumes, those resources are only consumed because it's profitable, not because there's actually any additional work that needs done.

The world's largest distributed supercomputer spends 99.999999% of its time effectively doing nothing besides run the most resource intensive delay loop.

if that processing was done strictly with excess power to help subsidize green energy, great. But if polluting power plants are being put back online to contribute to that delay loop, something needs to change.

 

[Out of the Rafters at the Q]

That's 40% too low. Bitcoin mining fully uses as many resources as are thrown at it by design. As long as it's cost effective to mine with fossil fuel power sources, people will do that.

In the case of the one plant, it was specifically reopened just to mine bitcoin. How does anyone think that's okay during a climate crisis?

Opening that power plant accomplishes absolutely nothing productive. The bitcoin mining could function equally well with 1% of the resources it currently consumes, those resources are only consumed because it's profitable, not because there's actually any additional work that needs done.

The world's largest distributed supercomputer spends 99.999999% of its time effectively doing nothing besides run the most resource intensive delay loop.

if that processing was done strictly with excess power to help subsidize green energy, great. But if polluting power plants are being put back online to contribute to that delay loop, something needs to change.

Nobody has argued in favor of using fossil fuels to mine crypto. Have they?

I'd say that a good first step towards solving our "profiting off of destroying the globe" problem is to actually charge people for the full lifecycle impact of their product. You want to sell oil? Cool, but you're going to be taxed for the full impact of burning that oil. You want to sell a plastic bottle of water? Cool, but you're going to be taxed for the price for the rest of the world to deal with that bottle after it's done being used.

 

[2 For The Brew]

Nobody has argued in favor of using fossil fuels to mine crypto. Have they?

I'd say that a good first step towards solving our "profiting off of destroying the globe" problem is to actually charge people for the full lifecycle impact of their product. You want to sell oil? Cool, but you're going to be taxed for the full impact of burning that oil. You want to sell a plastic bottle of water? Cool, but you're going to be taxed for the price for the rest of the world to deal with that bottle after it's done being used.

As if that could be objectively measured.

 

[Kouki]

I invested in bitcoin and ethereum right as bitcoin hit it's peak in November of 2017 (or 2018? I don't remember). Literally bought right at the peak at like ~$19,500. Cut my losses but left a bit in each - maybe 100-150 bucks? Opened up Coinbase for the first time since then and found $1200. Neat.

Bought $100 in doge coin this morning. I have no idea if that was a bad idea. Hoping to forget about it for two years and find it turned into $10,000

 

[Seiklis]

I invested in bitcoin and ethereum right as bitcoin hit it's peak in November of 2017 (or 2018? I don't remember). Literally bought right at the peak at like ~$19,500. Cut my losses but left a bit in each - maybe 100-150 bucks? Opened up Coinbase for the first time since then and found $1200. Neat.

Bought $100 in doge coin this morning. I have no idea if that was a bad idea. Hoping to forget about it for two years and find it turned into $10,000

Well you picked it up on a higher minute with the coinbase announcement. It'll probably fade a bit till it goes up on coinbase in 2 months.

Expect it to finally hit .80 by then

 

[Triplethreat]

woof

 

[Ohio]