Chia crypto mining spurs 500% jump in Adata SSD sales, warranty warning from Galax

adamada72

Posts: 14   +9
I will buy all your BTC at 99 cents per. Paypal? Venom? Name your service.
And you believe it's worth a million I imagine. Why not pay that million to me and prove your commitment to the coin? Works both was and this reply is a bit funnier. :p
 
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adamada72

Posts: 14   +9
If you don't understand or value the worth of censorship resistant mediums of exchange and stores of value, it's probably because you have no views worth censoring, a position that can only be maintained by constant servility and doublethink in the present day.

Your arguments had merit in 2004. The world has moved on.
Actually I stated reasons that are still valid, you didn't address them. As for censorship, as soon as you tie it to anything or use it with something traceable a few times your censorship resistant coin is toast. You can't use them in the real world if you value that privacy at all. In fact it would be the opposite linking everything to you. You can trade them with villains though with that privacy in mind, just don't spend those coins at Starbucks. As for store of value, you didn't get the last post. That's ok, I'll try again. A store of value is something that stays constant... that's why it's a store of value. But the dollar is a... yeah I get that, so your argument is also saying that gold and all forms of matter on the planet have gone down in value since the last decade by thousands of times. Or the more likely version, the coin isn't what you think it is (store of value). But it's going up! So it's a store of wealth, it'll never go down and only to the moon. Hope you're right, I have some too but it's still a pyramid scheme. I'm just not buying at the top I think plenty of people can move money into it yet though. The coins are not a bad idea, it just doesn't do anything that hasn't been around forever. If I never had it going forward I wouldn't care is my point. The world has moved on, you're right there too. To think it's created something amazing that'll change everything, but we don't know what that amazing feature is but trust everyone it's here. I'm not impressed, show me this amazing new world. I've looked and don't see much there. Personally I don't care, I've been around long enough to have seen many ideas that'll change the world, few do. And if you poor enough money and time into something you'll get something out of it. The coins will solve some issue, but I'm just surprised the world has dumped so much money into this for a decade and has little to show other than a big dream of a store of wealth and it's private. The contract idea is neat but again I don't really much care the world already has contracts.
 
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NightAntilli

Posts: 610   +747
And you believe it's worth a million I image. Why not pay that million to me and prove your commitment to the coin? Works both was and this reply is a bit funnier. :p
There are about 45 million millionaires (as in people) in the world.
There will ever only be 21 million Bitcoin. There is not enough Bitcoin for every millionaire out there. You do the math.

Actually I stated reasons that are still valid, you didn't address them. As for censorship, as soon as you tie it to anything or use it with something traceable a few times your censorship resistant coin is toast. You can't use them in the real world if you value that privacy at all. In fact it would be the opposite linking everything to you. You can trade them with villains though with that privacy in mind, just don't spend those coins at Starbucks.
There are privacy coins out there, like Monero and Beam. Additionally, a project called Blank is enabling private transactions on Ethereum.

As for store of value, you didn't get the last post. That ok, I'll try again. A store of value is something that stays constant... that's why it's a store of value. But the dollar is a... yeah I get that, so your argument is also saying that gold and all forms of matter on the planet have gone down in value since the last decade but thousands of times.
That's a bit different. Gold has an unknown supply and an unknown availability. In other words, we have figured out more efficient mining techniques, meaning the supply increases. And tomorrow we can find a new mine, or a Gold asteroid lands on the planet. That would increase the availability. Both these things decrease the value of Gold. So despite it doing better than fiat, it is not necessarily a store of wealth, because supply and availability are variable.
This is not the case for Bitcoin. Supply is known and predefined. So is the availability. It is completely predictable, unlike any other asset out there. Obviously this varies per coin. Some are better than others.

Or the more likely version, it's not what you think it is. But it's going up so it's a store of wealth, it'll never go down and only to the moon. Hope you're right, I have some too but it's still a pyramid scheme. I'm just not buying at the top I think plenty of people can move money into it yet. It's not a bad idea, it just doesn't do anything that hasn't been around forever.
As mentioned earlier, it's the only asset in existence where its supply and availability is completely known.
For something to be a pyramid scheme, there needs to be someone at the top of the pyramid. With decentralized crypto, there is no one at the top of the pyramid, because there is no pyramid.

If I never had it going forward I wouldn't care is my point. The world has moved on, you're right. To think it's created something amazing that'll change everything, but we don't know what that amazing feature is but trust everyone it's here. I'm not impressed, show me the amazing new world.
You have to be willing to delve into this world to understand it. Nobody is going to hand it over to you on a silver platter. And that is a good thing. Crypto is not for cattle that want to be "taken care of" by governments, banks, regulators, I.e. the same ones that bring them to the slaughter house. Crypto is for the ones that are willing and able to be independent and self-sufficient. It is open to everyone that is willing to participate. Nobody holds your hand in this world. You make a mistake, you are the one losing. On the flip-side, nobody can steal your wealth by 'quantitative easing' and other sly methods.
 

terzaerian

Posts: 921   +1,315
The gaming industry made $162 Billion in 2020.
So what you're trying to say is that you just favor the gaming industry's moneymaking machine instead of the crypto industry's money making machine. Okay. The market cap for BTC is over a trillion by itself, though, so it's superior by itself on sheer metrics, making your favoritism illogical.

As for censorship, as soon as you tie it to anything or use it with something traceable a few times your censorship resistant coin is toast. You can't use them in the real world if you value that privacy at all. In fact it would be the opposite linking everything to you. You can trade them with villains though with that privacy in mind, just don't spend those coins at Starbucks.
You're trying to conflate censorship and privacy, but they're two distinct issues. You don't need privacy to avoid censorship, and vice-versa. If a government has gotten to the point in their persecution of you that every outflow of your BTC is flagged and merchants have blacklisted your address, that is a problem, but there are other cryptos for that, such as Monero. Your intimation that you need to be a "villain" to be that persecuted ignores the reality of history and the hundreds of millions in mass graves from the past century for political reasons alone.

As for store of value, you didn't get the last post. That's ok, I'll try again. A store of value is something that stays constant... that's why it's a store of value. But the dollar is a... yeah I get that, so your argument is also saying that gold and all forms of matter on the planet have gone down in value since the last decade by thousands of times. Or the more likely version, the coin isn't what you think it is (store of value). But it's going up! So it's a store of wealth, it'll never go down and only to the moon. Hope you're right, I have some too but it's still a pyramid scheme. I'm just not buying at the top I think plenty of people can move money into it yet though. The coins are not a bad idea, it just doesn't do anything that hasn't been around forever. If I never had it going forward I wouldn't care is my point.
This is why I didn't address your post. You start with one point and then self-contradict midstream. The fact is, governments are not and should not be the sole arbiter of value. Your sole assertion is that it's a "pyramid scheme", which is inaccurate. Pyramid schemes are, to quote Wikipedia, "a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products". It requires a hierarchy and organization to operate: crypto has none. There is no CEO of Cryptocurrency. There are no promises of payments for recruitment. I champion it as an idea but I warn everyone, time and again, to only get into it after you've done the research, and until then, stay far away. I am enthusiastic about the highs but constantly warn others about the lows. As for "not doing anything that hasn't been around forever," the same could be said of the automobile or the washing machine. That's the point of technology: to improve and iterate upon itself.

The world has moved on, you're right there too. To think it's created something amazing that'll change everything, but we don't know what that amazing feature is but trust everyone it's here. I'm not impressed, show me this amazing new world. I've looked and don't see much there. Personally I don't care, I've been around long enough to have seen many ideas that'll change the world, few do. And if you poor enough money and time into something you'll get something out of it. The coins will solve some issue, but I'm just surprised the world has dumped so much money into this for a decade and has little to show other than a big dream of a store of wealth and it's private. The contract idea is neat but again I don't really much care the world already has contracts.
Contracts that require government in order to enforce, yes. The smart contracts you're referring to in Ethereum are enforced by data, not coercion. The potential of cryptocurrency is to cut out trillions of dollars worth of middlemen that, over the last century, have brought nothing but ruin and devastation to this planet. Will the replacement be any better? Maybe not a utopia, but considering the track record of what it's replacing, worth a look.
 

adamada72

Posts: 14   +9
So.... To you, being able to monetize the free space on your hard drive is nothing new or interesting...

Alrighty then.


Maybe it has something to do with it being impossible to shut down.
As for regulation, they can only regulate the bridge between crypto and traditional finance. They cannot regulate something that is decentralized. The closest equivalent we have to crypto, is torrents, and they couldn't even regulate that. And that has no blockchain.

Apparently people have a hard time grasping that these technologies make regulations obsolete.
We've be monetizing the free space on hard drives since the 60's when cloud computing was invented. It was called time shares back then. You should look it up, interesting history. So yeah you payed big money to store data on someones HDD, lots of $.

Regulations obsolete :). How many people are going to pay for coins they can't use. Not many. In fact gold was depressed as a store of wealth for some time because it was illegal to own it. Look at a 100 year chart of the metal. You can see the panic buying when it was outlawed and then the slow and steady march to not worth much until the giant skyrocket when it wasn't illegal any more and this was a real thing people like to use. A virtual thing would be toast! This has been done before and history says you're not just wrong but very very wrong. Nobody wants to go to jail paying to their coffee, they'll just move on and use the digital dollar as if nothing had changed.

Some points you didn't talk about that are interesting. Coins have a limited amount but the number of coins is not. How many coins do we need? What happens to the coins that we don't need? Interesting food for thought :p

Another interesting question, if bitcoin takes over the world how do governments around the globe pay for stuff? Can they mix bitcoin with their currency? Seems like they can't. An example is in order! If you work for the gov and get paid in gov dollars that are going down in value do you hold them? Nope, you convert it to bitcoin. So why pay in dollars? What happens to jobs that don't pay in dollars do they make more because inflation isn't kicking in? So do you pay the gov jobs more? If the gov money needs to compete or use coins they can't over spend and people don't get their services. Sounds like some angry people to me :p
 

Avro Arrow

Posts: 1,256   +1,386
TechSpot Elite
I just think all Crypto Currencies should not be a thing, I understand people think its a great thing to beg things to for the future but its going to be mostly used my criminals day to day. Then economically Inflation needs to be controlled and given the instability of Crypto this doesn't make sense and just seems to be another way for PC components to be all used up which causes more Energy use and waste products because I imagine most miners don't care after they have got there money back.
There's something that you need to realise. The only difference between criminals and the people on Wall Street is that the government has deemed the actions of Wall Street to be legal. However, they're just as morally bankrupt as ANY criminal organisation (and often even more).

What used to define the difference between a criminal organisation and a legit corporation was that the "criminal" organisation was willing to break the law to make money while the "legit" corporation was not. Since big corporations have shown themselves to be 100% comfortable with breaking the law when it's profitable for them to do so the defining difference between them no longer exists.

The most dangerous criminals on Earth don't wear hoodies in dark basements and trade in cryptocurrencies on the Dark Web like the media portrays. The most dangerous criminals on Earth wear suits, have corner offices at the tops of skyscrapers and trade in stocks and legal tender. They are the real threat.

You just haven't figured that out yet.
 
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NightAntilli

Posts: 610   +747
We've be monetizing the free space on hard drives since the 60's when cloud computing was invented. It was called time shares back then. You should look it up, interesting history. So yeah you payed big money to store data on someones HDD, lots of $.
Same concept but not the same thing. You can do it on an individual level right now, without a centralized party, corporation or institution. And the benefit goes directly to you, rather than your employer.

Regulations obsolete :). How many people are going to pay for coins they can't use. Not many.
They pretty much already do. People pay with their time to get dollars, that ultimately lose value, I.e. they can't use a portion of what they invested their time in. That they don't know it's happening is another story.

In fact gold was depressed as a store of wealth for some time because it was illegal to own it. Look at a 100 year chart of the metal. You can see the panic buying when it was outlawed and then the slow and steady march to not worth much until the giant skyrocket when it wasn't illegal any more and this was a real thing people like to use. A virtual thing would be toast! This has been done before and history says you're not just wrong but very very wrong. Nobody wants to go to jail paying to their coffee, they'll just move on and use the digital dollar as if nothing had changed.
And do you remember why Gold was made illegal...?
More importantly... You should look up how many countries have banned Bitcoin. For one, China has banned it like 5 times already, yet, the biggest mining farms are in China.
Gold could be banned because there could be individual owners of it, and it could be confiscated. Bitcoin is everywhere and nowhere, and they cannot confiscate it.

The ones that keeping using the dollar, soon won't be able to buy coffee at all.

Some points you didn't talk about that are interesting. Coins have a limited amount but the number of coins is not. How many coins do we need? What happens to the coins that we don't need? Interesting food for thought :p
The coins that are ultimately useless will go to zero. But many more coins will survive than people realize... Because we have Oracles.

Another interesting question, if bitcoin takes over the world how do governments around the globe pay for stuff? Can they mix bitcoin with their currency? Seems like they can't. An example is in order! If you work for the gov and get paid in gov dollars that are going down in value do you hold them? Nope, you convert it to bitcoin. So why pay in dollars? What happens to jobs that don't pay in dollars do they make more because inflation isn't kicking in? So do you pay the gov jobs more? If the gov money needs to compete or use coins they can't over spend and people don't get their services. Sounds like some angry people to me :p
Lots of questions, and, well, valid ones. But not knowing the answers doesn't necessarily debilitate crypto tech.
Now I don't say this is going to happen tomorrow, but ultimately I see a dynamic market place where each crypto can interact and/or exchange with other ones through oracles, and the prices of each will be determined by the markets themselves. Less price manipulation is possible, and infinite printing will be a thing of the past.
Government's roles will become increasingly small, and many decisions will be made through DAOs instead.
It's quite possible that companies will pay their employees with tokens, which is akin to a stock of a company, which they can exchange in the decentralized free market place for other goods and services that they need.
 

adamada72

Posts: 14   +9
Same concept but not the same thing. You can do it on an individual level right now, without a centralized party, corporation or institution. And the benefit goes directly to you, rather than your employer.


They pretty much already do. People pay with their time to get dollars, that ultimately lose value, I.e. they can't use a portion of what they invested their time in. That they don't know it's happening is another story.


And do you remember why Gold was made illegal...?
More importantly... You should look up how many countries have banned Bitcoin. For one, China has banned it like 5 times already, yet, the biggest mining farms are in China.
Gold could be banned because there could be individual owners of it, and it could be confiscated. Bitcoin is everywhere and nowhere, and they cannot confiscate it.

The ones that keeping using the dollar, soon won't be able to buy coffee at all.


The coins that are ultimately useless will go to zero. But many more coins will survive than people realize... Because we have Oracles.


Lots of questions, and, well, valid ones. But not knowing the answers doesn't necessarily debilitate crypto tech.
Now I don't say this is going to happen tomorrow, but ultimately I see a dynamic market place where each crypto can interact and/or exchange with other ones through oracles, and the prices of each will be determined by the markets themselves. Less price manipulation is possible, and infinite printing will be a thing of the past.
Government's roles will become increasingly small, and many decisions will be made through DAOs instead.
It's quite possible that companies will pay their employees with tokens, which is akin to a stock of a company, which they can exchange in the decentralized free market place for other goods and services that they need.
Fair point about monetizing your equipment and not a larger companies. I'm all for it.

China doesn't honestly care about banning coins yet. That'll happen when they have there own to promote when they're ready. Right now the mining they do pushes other currencies down, why stop? If anything they can be sponsoring it.

But you can confiscate it, when you use it. That's the parallel with gold in the 30's. Nothing more than if it's hard to use it's not going to be. Too much friction was the root point but I get your take.

I don't know about the number of coins that'll survive. That to me it is the weakest point of all this. As more money goes into this more coins will be created and we don't know which will be the good ones and the not so good ones. I do know the people holding worthless ones aren't going to be happy. Generally people gravitate to just a small few of anything they don't know much about, like bitcoin which personally I find useless over something like ethe which at least has a function that's useful more or less. So maybe when the about peaks we'll have a crash and that'll be when the gov will be asked to come in and "help" which goes to...

The future I see I'm basing on history. The coins could be banned but that takes work and effort and generally is only done if it's profitable to the friends of said government. The more realistic answer is always to co-op a thing that can harm you. As part of that they'll probably be official government coins that have a contract that automatically takes a cut/a tax for people that dislike crypto. Maybe something also to build in inflation but to mask it as something else, who knows what they'll come up with but I do know no government on the planet can operate without that inflation which is the opposite idea here and they from what I can tell like holding the power and are not letting go. For ones that are pro-crypto (the other side of the coin :p) the other idea would be to have the competing coins to their own vote for contracts that are favorable to pro government ideas like the one above. Something to take a small cut to help the xyz cause. It's still your favorite coin to the majority. It only takes one or two coins to flip and then be promoted to change it all in their favor. That's how I'd play it. Take control of both sides and shift it so you don't really have a choice just the illusion of one, it works with a lot of todays world. The contracts / vote for changes in the coins are the in I think to do some damage. We'll see how it plays out, I would love for your version to be right, I like that world better... but it would be a first for humanity, sadly.

That said I have some Cardano and would like it to be the next 5k coin brave new world and all :) Thanks for the comments
 

adamada72

Posts: 14   +9
There's something that you need to realise. The only difference between criminals and the people on Wall Street is that the government has deemed the actions of Wall Street to be legal. However, they're just as morally bankrupt as ANY criminal organisation (and often even more).

What used to define the difference between a criminal organisation and a legit corporation was that the "criminal" organisation was willing to break the law to make money while the "legit" corporation was not. Since big corporations have shown themselves to be 100% comfortable with breaking the law when it's profitable for them to do so the defining difference between them no longer exists.

The most dangerous criminals on Earth don't wear hoodies in dark basements and trade in cryptocurrencies on the Dark Web like the media portrays. The most dangerous criminals on Earth wear suits, have corner offices at the tops of skyscrapers and trade in stocks and legal tender. They are the real threat.

You just haven't figured that out yet.
Yes, the most dangerous criminals on Earth are who you described. They'll take crypto wherever they like is my guess.
 

hwertz

Posts: 33   +17
Looks like time to just use a HDD. I just did a little reading and it sounds like there's loads of writes involved in creating a "plot", so there's an option to create it in a temporary area then copy it over to permanent storage. And that using an SSD cuts the time in half to make each plot, but making a plot only takes a matter of hours. To me, it'd be worth it to use an HDD and not have constantly-blowing-out SSD.