The anti-crypto thread

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IronWing

No Lifer
Jul 20, 2001
70,266
29,008
136
and salty because they missed once in a generation transfer of massive wealth. It's one thing for average Joe who didn't know about bitcoin, ethereum, doge, etc to miss the boat. But people here had easy and numerous chances to get in from the ground floor and knew about cryptos and even had the computers and video cards to easily mine it in the early days for free! Some probably did mine it for free but sold it way too early and are still angry they missed the massive price appreciation.
Nah, there are a whole heap of previous last fool schemes I didn’t get in on and I’m not angry about. Crypto is just one more last fool scheme I’m not angry about. For the same reason I don’t have a closet full of beany babies, I don’t have a wallet full of crypto.
 

Viper GTS

Lifer
Oct 13, 1999
38,107
433
136
Nah, there are a whole heap of previous last fool schemes I didn’t get in on and I’m not angry about. Crypto is just one more last fool scheme I’m not angry about. For the same reason I don’t have a closet full of beany babies, I don’t have a wallet full of crypto.

What makes this particularly egregious is it's a massive transfer of wealth from those who don't have it to lose to those who already had plenty.

All the poor fools (who will likely be the last fools) sending all their free cash into the wealth lottery of crypto are just giving it to a bunch of tech bros and people who already had high incomes prior to this. There is some truth to the 'everyone on these forums makes $100k+' as we have a high concentration of people with decades in technology. All those GPUs and CPUs we had access to 'for free' were paid for via high technology salaries.

It's a transfer of wealth all right, in the wrong fucking direction.

Viper GTS
 

sdifox

No Lifer
Sep 30, 2005
97,031
16,248
126
One armchair-length study that I saw done on YouTube, showed that PC Gaming uses 50 times the amount of electricity than GPU miners.

And there's all this hubbub going on about the new PCI 5.0 12/16-pin power connector, and "gaming cards" taking 400-600W. (Some cards up to DOUBLE that.)

Whereas, most miners prefer highest power-efficiency.

The writing's on the wall, really. If GPU mining were to be banned purely on environmental-impact, then PC Gaming, MUST be banned likewise. Or some aximum power limit imposed on GPU power consumption, such as 110W per card.

So be careful what you wish for, PC Gamers, because a boomerang of un-intended effects CAN happen to you.


LoL how do gamers use 50 times more energy than miners? Very few people play games 24/7.
 
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Feb 4, 2009
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So don't move the goalposts. His assertion was "PC Gaming uses 50 times the amount of electricity than GPU miners. "

I added in console gamers, which is probably quite a bit of power worldwide. Now add in mobile. Gaming absolutely dwarfs mining in power usage.

mmmm…..okay.
I think the original point was per users however we can disagree upon that.
 

pete6032

Diamond Member
Dec 3, 2010
7,684
3,233
136
There are tons of wasteful things our society spends energy on. I get the sense that most people who say crypto is bad because of its energy consumption are not actually concerned about energy conservation.
 

sdifox

No Lifer
Sep 30, 2005
97,031
16,248
126
There are tons of wasteful things our society spends energy on. I get the sense that most people who say crypto is bad because of its energy consumption are not actually concerned about energy conservation.


This says Bitcoin miners accounts for 0.5% of world power consumption. That is a lot of generation capacity being taken up for no good reason.

All the miners are fighting for a BTC in approximately ten minutes intervals. Only one of them gets that BTC, the rest just wasted a lot of energy for nothing.

 
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ponyo

Lifer
Feb 14, 2002
19,688
2,810
126
Nah, there are a whole heap of previous last fool schemes I didn’t get in on and I’m not angry about. Crypto is just one more last fool scheme I’m not angry about. For the same reason I don’t have a closet full of beany babies, I don’t have a wallet full of crypto.
This thread is full of I missed the whole crypto moonshot because I'm so smart to not have invested in last fool schemes. Whatever you tell yourself to feel better.
 

ultimatebob

Lifer
Jul 1, 2001
25,134
2,446
126
This says Bitcoin miners accounts for 0.5% of world power consumption. That is a lot of generation capacity being taken up for no good reason.

All the miners are fighting for a BTC in approximately ten minutes intervals. Only one of them gets that BTC, the rest just wasted a lot of energy for nothing.


Last I heard, it takes about $100 in electricity to process a single Bitcoin transaction because of the insanely high mining difficulty for Bitcoin. For proof of stake crypto like Solana, it's just a fraction of a penny.
 
Mar 11, 2004
23,285
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You people know graphics rendering technology literally has had life saving benefits, right? Its paved the way for medical technology that literally saves lives on a daily basis now, and that's actually improving. And that's if you don't even count benefits that 3D modeling has brought, to say automobile safety or a litany of other things where graphics rendering alone has drastically improved things.

Also, uh weird that you clowns suddenly want to demonize gaming when gaming companies are now looking to start implementing crypto bullshit. So which is it, crypto great and is gonna revolutionize everything and save the world or is gaming a 50x worse evil because...well gee you're intellectually dishonest and think people arguing that something that wastes tons of electricity for no positive benefit is worse than something that might use more electricity than that, but provides at least some actual benefits for society is somehow a flawed argument?

Hell, its like you people think gamers don't care about electricity use. I'd be all for pushing efficiency in gaming. Fucking tax that shit for those externalities. Just tax the everloving fuck out of crypto since its only purpose so far is to help douchebags try to evade paying taxes. Guess what would happen if people actually had to pay taxes on crypto. It'd die almost instantly as there would be no benefit to it for even the financial speculation.

So don't move the goalposts. His assertion was "PC Gaming uses 50 times the amount of electricity than GPU miners. "

I added in console gamers, which is probably quite a bit of power worldwide. Now add in mobile. Gaming absolutely dwarfs mining in power usage.

And? Are you really trying to argue that pegging GPU use at 100% for mining is better than pegging it at 100% for game rendering? If you think gaming is bad because electricity, there's no argument you can make that mining is better in any way. You can believe that gaming provides no benefit over mining if you want, but at minimum your argument is completely stupid to try and demonize gaming but defend mining. Your best argument is that both are complete wastes, which uh, talk about un-intended effects, you crypto-evangelists think that making the argument that GPUs are only used entirely for wasteful purposes is going to cause you any positives? You're basically making the argument that GPUs themselves should be outright banned because they are just complete wastes in how you are using them. So you apparently want to piss away your mining use in order to justify saying that well gaming is just as wasteful. Which, uh, either you people didn't actually spend anytime thinking about this or you really are just so oblivious that you're willing to enable the thing you're arguing against, plus spite yourselves, just so you can stick out your tongue at people correctly pointing out that crypto provides nothing beneficial that couldn't also be accomplished entirely by ditching all of the wasteful aspects of crypto. You can rampantly speculate on tons of things, using far less electricity to do so. In fact the silliest part is that some of you have spent tens of thousands in order to get into a speculative market, ignoring that you could've just invested that money directly into other speculative markets and been likely as well if not better off.

I've said it before and I'll keep saying it. If you were honest, I would have much less issue. Just admit you want to bypass paying taxes and are purely in crypto because of the hope for windfall of money from rampant speculation. Instead we get ever evolving arguments that range from laughably absurd ignorance to straight up lying, all of which are stupid if you spend literally any time actually thinking about those arguments. Just be honest about it. No need to try to punch elsewhere either. Just own it. On the scale of awful shit, your crypto fanaticism is probably not much worse than that from your normal day to day living, poisoning the planet.

LOL at "illegal crypto"

If crypto was squeaky clean and never used for something illegal, all the haters would be saying "It's not a real currency until you can buy drugs or launder money with it!"

Do you even listen to yourself?
 

sdifox

No Lifer
Sep 30, 2005
97,031
16,248
126
Last I heard, it takes about $100 in electricity to process a single Bitcoin transaction because of the insanely high mining difficulty for Bitcoin. For proof of stake crypto like Solana, it's just a fraction of a penny.

I am not talking about transactions, I am talking about the actual cryptomining. For any given coin, there are x number of miners trying to solve first. But only one of them will, so there is a lot of effort with no return. That is very wasteful.
 

sdifox

No Lifer
Sep 30, 2005
97,031
16,248
126
You seem to have some warped ideas about who is making money on blockchain.



Psst

Mining = transaction verification


The bitcoin ledger propagation is just the overhead. Mining is about the mathematical problem solving part. Regardless, my point still stands, for each winner of a crypto coin, there are x people that didn't win.
 
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njdevilsfan87

Platinum Member
Apr 19, 2007
2,331
251
126
Nah, there are a whole heap of previous last fool schemes I didn’t get in on and I’m not angry about. Crypto is just one more last fool scheme I’m not angry about. For the same reason I don’t have a closet full of beany babies, I don’t have a wallet full of crypto.

Jokes on you because an authenticated mint Royal Blue Peanut Beanie Baby is worth... $2000.
 

njdevilsfan87

Platinum Member
Apr 19, 2007
2,331
251
126
There are literally threads on this forum saying crpyto is dumb and is going to fail, going back OVER A DECADE.

Not going with the mob just because it felt easy or felt like I could be a part of or have people easily agree with me... was the best financial decision I've ever made in life. I didn't know it at the time, but wow am I glad I didn't listen to this closed-minded non-sense that is still regurgitated today.
 

njdevilsfan87

Platinum Member
Apr 19, 2007
2,331
251
126
There are tons of wasteful things our society spends energy on. I get the sense that most people who say crypto is bad because of its energy consumption are not actually concerned about energy conservation.

Exactly. It's all nothing more than a bunch of this:

6bp2cu.jpg

So what is it really then? A coping mechanism to being not only just being wrong about something, but wrong is a way that was well, life-changing. Because I'd wager that most long-time members here knew of Bitcoin since at least ~2014 or when it was only hundreds of dollars. You couldn't not visit a tech hardware forum and not have bumped into crypto after the 2013 $1200 peak. It was all over AT, OCN, [H], etc. But again everyone made a choice at some point... and most spent 5 seconds to agreeing with "it's a ponzi scheme poster x9000" because that has always been the mob-mentality thing to do.