Question For the minor miners out there - 'salad.io'. [HobbyistMiner][YT]

[VirtualLarry]

This is really neat, a "mining application" that the under-18 crowd can use to pay for video games, Steam/Roblox cards, Amazon GCs, etc. Pretty cool.

 

[funboy6942]

So trade in minor mining "money" for gift cards.

Buy games with "dollar" value attached to Minor mining Money with said minor mining, which is less then if minor, was not a minor mining, they could find a way to make more money with their minor mining money, but because they are a minor, selling them cheap ass minor mining money, its worth less than, then said real money valued on said card(s), and said companies get rich getting it cheap, because parents who let their minor mine miner money, do not know how to get more money from their minor mining money, if they were to sell it for them not as a minor and make more money the the cards valued for "cash" money which is worth a LOT less then reg miner mined money, but even less if they give them their minor mined miner money to the parents, and the fact their electric bill from said spoiled brat would cost more if parents did not buy said minor a mining rig, and bought the games with non minor mining miner money, saving them money on a 10K rig they no longer really need to sell them (companies) their minor mining miner money. But sadly companies will get and hold on to mining minor money and wait for mining money to dip, then be worth a crap ton more then what they paid for the minor mining money, making them more richer everyone says they are evil for

Its for the children!


Why Did I Come In Here?

In other words, buy the damn kid the games, its cheaper in the long run, or sell their mined minor mined money for more "real" money and a new Yachat.

 

[DisarmedDespot]

Haven't watched the vid, but there's a 99% chance those gift cards were bought with stolen credit and debit cards.

 

[VirtualLarry]

Haven't watched the vid, but there's a 99% chance those gift cards were bought with stolen credit and debit cards.

Why would one develop a whole mining app, just to be a front for stolen GCs? Surely, if their intent was to scam, there are far more direct and simpler ways, I'm pretty sure.

 

[Leeea]

Well, that is one way to launder money.

Extra bonus points for the "with children" aspect.



I am sure this will go down real well with the parents when they see the electricity bill.

parent: "What have you been doing to drive it up so high?"
child: "Helping the mafia launder money so I can get free video games!"
parent: " . . . this is the real reason you needed a $2000 GPU, isn't it?"
child: "About that, um, I kinda bricked it out reflashing it with a mining bios ... "

 

[Leeea]

Haven't watched the vid, but there's a 99% chance those gift cards were bought with stolen credit and debit cards.

Not necessarily. The criminal uses of gift cards expands far beyond that.

Gift cards are a great way to avoid financial tools designed to stop criminal activity. They are increasingly used in tech support scams, ransomware (less traceable then cryptocurrency), funds transfer, black market auctions, etc.

 

[Shmee]

Sounds silly honestly. Leeea may have a good point about the gift cards, though I myself don't know much about them, there was a Simpsons episode recently where Grandpa Simpson got scammed, where a bunch of people were scamming in a call center and being paid in gift cards LOL.

Honestly, mining for the crypto directly makes so much more sense...and no I didn't watch the video. Holding your own private keys is always preferable, even if you are going to mostly just sell for fiat. For instance, I am quite skeptical of nicehash, (sorry Larry) so mining directly on ETH or another coin to a good pool and then paid out to a wallet is the best. That said, I tried mining Raptoreum on zergpool for ETH, where they have an autoexchange. I am not sure about the effiency of it yet, due to fees, exchange, possible delays, etc...but the pool at least reminds me of the adorable Zerg race. I love zerglings.

 

[funboy6942]

I did not watch the whole thing, I watched till the guy said this was great for kids under 18 (minor) that mines, to give them a gift card for their coin.

But just saying this. Say kid has a whole coin, give it to sony for their gift card from them. Given the going price for a whole Bitcoin is $56,000 right now, who here actually thinks this is for the "kids" and going to give them a gift card at or close to money valued for that one coin they gave away?

 

[VirtualLarry]

Given the going price for a whole Bitcoin is $56,000 right now, who here actually thinks this is for the "kids" and going to give them a gift card at or close to money valued for that one coin they gave away?

1) who actually thinks that one could mine bitcoin on GPUs these days, and
2) even if one could, how long do you think it would take to earn a whole bitcoin?

3) They're not charging $56,000 for one gift card, prices are on their site.

 

[DisarmedDespot]

I have a hard time thinking it's legit because it's just so... Weird. Centralized company pays you in a different centralized shop's script for using your hardware and electricity to mine a decentralized crypto for their wallet. Isn't that the kind of middleman that crypto was meant to get away from?