- Aug 25, 2001
- 56,340
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It's kind of like trying (*I imagine, have never done it) a "hard drug" for the first time.
You see your video card, your CPU (less so), etc., MAKING MONEY, just RUNNING. It's kind of crazy, when you stop to think about it.
I'm getting paid, for my computer time, remunerated, for investing in computer hardware, and effectively (when using Nicehash) renting it out.
Kind of like, AirBnB for PCs and gaming rigs.
Only, not quite as risky, but on the whole, also quite profitable.
The thing about it too, is, once you learn how, you realize... it SCALES!
Then, you want MORE, and MORE, and MORE. More Satoshi's, which means MORE GPUs, MORE CPUs, MORE RIGS, soon, you've got an entire neighborhood power sub-station dedicated to your premesis.
You start checking on your rigs, making sure that they're running, their hashrates are up to snuff, the right algos, checking your earnings, every hour, every half-hour, when and where does it end?
In some ways, it's an addiction, much like "Mobile Gaming". In another way, it's a sickness, a sort of twisted version of the childhood "Lemonade Stand", turned hard-core franchise opportunity, raw pure capitalism in it's finest, being able to buy machines that essentially, print money out of "thin air" (algorithms).
On the other hand, it's a very democratizing system, a sort of "power to the people" transaction-processing system, where, instead of a super-computer center run by Visa or Mastercard, it's YOU, the average Joe Sixpack down the street, using YOUR computer, as part of their grand decentralized transaction-processing network for crypto-currency, making a difference, participating in technology, and most importantly, PROFITING FROM IT.
And then there are the highs, when BTC and the altcoin of the day/month/year (ETH) hitting highs as well. EUPHORIA! MAKING *BIG BUCKS*.
And then there are the lows, which even though they are a "low", seem to reach higher and higher in the sky always anyways, so they're not as bad as the last time. But when profitability tanks, sometimes there is even a sell-off of mining gear, especially GPUs. ("Raining GPUs" - for gamers.)
And then the glorious cycle repeats again! And again! And again!
And the whole rest of the world gets to experience the boom/bust cycles of crypto-currency, and collectively, gamers feel the pain of miners too, not able to "get GPUs".
Edit: My post was in part inspired by this Reddit:
Edit: This one kind of captures "the despair" aspect:
Edit: Here's an expression of "The addiction" in a meme pic:
www.reddit.com
Edit: Actually, it's even more like an addiction. Due to increasing network difficulty levels, and block reward halvings (doesn't apply to ETH), the more time progresses, and the more hashrate gets added to the network, then your "slice of the pie" (your revenue "high") gets less and less, over time, UNLESS, you "increase your dose", by buying MORE AND MORE hashrate, via more and more GPUs, and/or trading them in for newer, more powerful (higher hashrate) GPUs.
You see your video card, your CPU (less so), etc., MAKING MONEY, just RUNNING. It's kind of crazy, when you stop to think about it.
I'm getting paid, for my computer time, remunerated, for investing in computer hardware, and effectively (when using Nicehash) renting it out.
Kind of like, AirBnB for PCs and gaming rigs.
Only, not quite as risky, but on the whole, also quite profitable.
The thing about it too, is, once you learn how, you realize... it SCALES!
Then, you want MORE, and MORE, and MORE. More Satoshi's, which means MORE GPUs, MORE CPUs, MORE RIGS, soon, you've got an entire neighborhood power sub-station dedicated to your premesis.
You start checking on your rigs, making sure that they're running, their hashrates are up to snuff, the right algos, checking your earnings, every hour, every half-hour, when and where does it end?
In some ways, it's an addiction, much like "Mobile Gaming". In another way, it's a sickness, a sort of twisted version of the childhood "Lemonade Stand", turned hard-core franchise opportunity, raw pure capitalism in it's finest, being able to buy machines that essentially, print money out of "thin air" (algorithms).
On the other hand, it's a very democratizing system, a sort of "power to the people" transaction-processing system, where, instead of a super-computer center run by Visa or Mastercard, it's YOU, the average Joe Sixpack down the street, using YOUR computer, as part of their grand decentralized transaction-processing network for crypto-currency, making a difference, participating in technology, and most importantly, PROFITING FROM IT.
And then there are the highs, when BTC and the altcoin of the day/month/year (ETH) hitting highs as well. EUPHORIA! MAKING *BIG BUCKS*.
And then there are the lows, which even though they are a "low", seem to reach higher and higher in the sky always anyways, so they're not as bad as the last time. But when profitability tanks, sometimes there is even a sell-off of mining gear, especially GPUs. ("Raining GPUs" - for gamers.)
And then the glorious cycle repeats again! And again! And again!
And the whole rest of the world gets to experience the boom/bust cycles of crypto-currency, and collectively, gamers feel the pain of miners too, not able to "get GPUs".
Edit: My post was in part inspired by this Reddit:
Edit: This one kind of captures "the despair" aspect:
Edit: Here's an expression of "The addiction" in a meme pic:
Reddit - Dive into anything
www.reddit.com
Edit: Actually, it's even more like an addiction. Due to increasing network difficulty levels, and block reward halvings (doesn't apply to ETH), the more time progresses, and the more hashrate gets added to the network, then your "slice of the pie" (your revenue "high") gets less and less, over time, UNLESS, you "increase your dose", by buying MORE AND MORE hashrate, via more and more GPUs, and/or trading them in for newer, more powerful (higher hashrate) GPUs.
Last edited:
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