AMD surges because bitcoin data miners need its graphics card

[DisarmedDespot]

First they ignore you, then they laugh at you, then they fight you, then you win.

I'm sorry, I just can't take those sort of comments seriously. He's arguing cryptocurrenices, which have given ample examples of dramatic fluctuations in price (MtGox, the DAO, etc) are not only more stable than USD, but will be able to survive a massive financial collapse. I'm all for fiddling around and experimenting with the stuff, but expecting an internet-based currency to survive those kinds of conditions? At least gold bugs buy something that doesn't need to be plugged in.

 

[[DHT]Osiris]

I'm sorry, I just can't take those sort of comments seriously. He's arguing cryptocurrenices, which have given ample examples of dramatic fluctuations in price (MtGox, the DAO, etc) are not only more stable than USD, but will be able to survive a massive financial collapse. I'm all for fiddling around and experimenting with the stuff, but expecting an internet-based currency to survive those kinds of conditions? At least gold bugs buy something that doesn't need to be plugged in.

It's definitely not more stable than USD, but there's no reason to think that the USD will be around forever, and really blockchain currencies offer enough advantages that any future 'universal currency' will inevitably be one.

Anything that takes out the USD in a non-graceful manner will likely be catastrophic enough to bring down everything with it, in which case none of this will matter, so it's really not something I put into any equations when it comes to the future of BTC, cryptocurrencies, or any other currency for that matter.

In the interim, it's paying my rent, so that's 'serious enough' for me to not discount it.

 

[DisarmedDespot]

It's definitely not more stable than USD, but there's no reason to think that the USD will be around forever, and really blockchain currencies offer enough advantages that any future 'universal currency' will inevitably be one.

Anything that takes out the USD in a non-graceful manner will likely be catastrophic enough to bring down everything with it, in which case none of this will matter, so it's really not something I put into any equations when it comes to the future of BTC, cryptocurrencies, or any other currency for that matter.

Ya, I'm not someone who thinks the USD is impervious or anything, I just thought that was silly. Truthfully I don't know what the future looks like. I doubt cryptocurrencies will ever become mainstream, just because centralized models are going to be more efficient than decentralized, but it might find a niche.

 

[[DHT]Osiris]

Ya, I'm not someone who thinks the USD is impervious or anything, I just thought that was silly. Truthfully I don't know what the future looks like. I doubt cryptocurrencies will ever become mainstream, just because centralized models are going to be more efficient than decentralized, but it might find a niche.

If it picks up a bit more traction, the various CC companies might hop on board if only to have more money to scrape. Right now you can get a visa card that pays for things with BTC.
https://bitpay.com/card/

 

[amenx]

AMD Radeon RX 570 And RX 580 GPUs Sold Out Due Cryptocurrency Mining

https://www.newegg.com/Product/Prod...NE&IsNodeId=1&N=100007709 601296379 601296377

 

[3DVagabond]

AMD Radeon RX 570 And RX 580 GPUs Sold Out Due Cryptocurrency Mining

https://www.newegg.com/Product/ProductList.aspx?Submit=ENE&IsNodeId=1&N=100007709 601296379 601296377

And AMD will still manage to lose money somehow.

 

[at80eighty]

Ya, I'm not someone who thinks the USD is impervious or anything, I just thought that was silly. Truthfully I don't know what the future looks like. I doubt cryptocurrencies will ever become mainstream, just because centralized models are going to be more efficient than decentralized, but it might find a niche.

ugh. you just persistently peddle your ignorance as gospel

Central banks have begun exploring how to move towards the blockchain world. Singapore's MAS has even completed an inter-bank pilot, to which they all are signed on as a consortium to use in future. the issues of regulatory compliance are being addressed by the focus on regtech.

just because you have no clue about what is happening, doesn't mean it's not happening.

 

[lixlax]

And AMD will still manage to lose money somehow.

Because A LOT of these cards/coolers have to be replaced for free after some time. I bought 2 ex- miner cards after the last craze ended and to put things short- in the end its cheaper to buy (much) more expensive new card than these raped things. I ended up buying a new card after all and have been using it headache free for almost 2 years now.

 

[Ancalagon44]

My plan is to keep my cryptocurrency as cryptocurrency for as long as possible.

When I have enough to do some real damage to my mortgage, I'll convert it to actual currency.

 

[3DVagabond]

Because A LOT of these cards/coolers have to be replaced for free after some time. I bought 2 ex- miner cards after the last craze ended and to put things short- in the end its cheaper to buy (much) more expensive new card than these raped things. I ended up buying a new card after all and have been using it headache free for almost 2 years now.

I won't be surprised if they report a loss for this quarter after releasing Ryzen and selling every GPU they manufactured. I don't know where their money goes, but it doesn't seem to be to the shareholders.

 

[[DHT]Osiris]

Because A LOT of these cards/coolers have to be replaced for free after some time. I bought 2 ex- miner cards after the last craze ended and to put things short- in the end its cheaper to buy (much) more expensive new card than these raped things. I ended up buying a new card after all and have been using it headache free for almost 2 years now.

What issues did you have? You shouldn't have any problem buying one vs a mostly-idle one after the same timeframe. Unless the product itself was cheap, they have an operating capacity that should exceed any mining timeframes (most vid cards I get last 4-5 years if I don't get rid of them).

 

[x-Ronin-x]

There are plenty of ways to spend mined crypto coins beside withdrawing from an exchange. I have bought online services with BTC, some retailers such as overstock let pay with BTC, or you can easily purchase gift cards from you favourite retailers such as Amazon or Walmart with BTC.

You'll be in for a rude awakening when the dollar value tanks. There is currently little confidence in the US economy and the US dollar, a fiat currency LOADED with debt. Crypto currencies aren't going anywhere, it's the way forward.

As applied to Bitcoin and the like, currency is something of a misnomer. "Crypto-currency" lacks the defining features of a currency, namely, the full faith and credit of an established government, and the accompanying legal mechanisms to ensure that it is honored as a medium of exchange. At the moment, I would describe Bitcoin and its cousins as elaborate private barter authentication mechanisms, which happen to have spawned an intensely speculative investment market that depends on legal currency for its existence. I wouldn't even say they're equities, because they have no intrinsic relationship to any tangible assets. They only have value among the self-selected participants in a virtual bazaar that offers a very narrow range of niche products for barter, and even then only after the bitcoins have been exchanged for actual currency, in most cases.

 

[[DHT]Osiris]

Currency is something of a misnomer. "Cryptocurrency" lacks the defining features of a currency, namely, the full faith and credit of an established government, and the accompanying legal mechanisms to ensure that it is honored as a medium of exchange. At the moment, I would describe Bitcoin and its cousins as elaborate private barter authentication mechanisms, which happen to have spawned an intensely speculative investment market that depends on legal currency for its existence. I wouldn't even say they're equities, because they have no intrinsic relationship to any tangible assets. They only have value among the self-selected participants in a virtual bazaar that offers a very narrow range of niche products for barter, and even then only after the bitcoins have been exchanged for actual currency, in most cases.

I'd agree, and equate them as well to actual gold/other precious metals. 99% of vendors won't take gold as appropriate payment for goods/services, unless they personally feel they can exchange it for something more appropriate later (like 'real currency').