Ethereum miners are dumping their GPUs on eBay as cryptocurrency loses half its value...

[JW0914]

Crypto currency is likely here to stay, as it fills a niche, however the same problem all have always faced is still here... they're not backed by anything, and currency has value because it's backed by something.

• For example, the US Dollar used to be backed by [the] gold [standard], however after doing away with that impractical standard for a country like the U.S., the US Dollar is now backed by the credibility & integrity of the US, of which plays into why it's still the world reserve currency.

Crypto currencies, on the other hand, are nothing more than lines of code and have zero monetary value, relying solely on speculation to drive it's value, and is why they're so incredibly volatile... that's not a good quality for any currency by the way.

• Imagine if the US Dollar had the volatility of crypto currencies... inflation in the US would be higher than Venezuela's.
• Savvy crypto currency investors can turn a profit, however most will not and they will likely end up losing money with the daily volatility of crypto currencies.
  • One can see this plain as day by looking at the market price of an actual currency backed by something (the dollar) to a crypto currency backed by nothing (in this case, Ethereum)
    • EUR/USD (24hr: -0.16007%/ High: $0.8685, Low: $0.8661, Closed: $0.8677)
      • USD has decreased in value by 4.74% between 20JUL16 - 19JUL17
        • 19JUL17: $1 / €0.8677
        • 20JUL16: $1 / €0.9088
    • Ethereum (24hr: -3.09% / High: $245.65, Low: $204.35, Crurrent: $207.49)
      • Has increased in value by 1,662.59% between 26JUL16 - 19JUL17
        • That's unheard of for a stable, trustworthy currency.
      • 19JUL17: 1 Ethereum / $207.49
      • 26JUL16: 1 Ethereum / $12.48

 

[harm9963]

That's how I got my two 290x, one for 193 the other for 185 , three years so far, I can't complain.

 

[p51d007]

What were the mules for, in case the bars ran out of hookers?

LMAO!

 

[dirtyferret]

The only difference between this, and the "gold mining boom" in the late 19th century in America, is the "miners" don't have to dig in the dirt and what not, the mining "camps" don't have bars, hookers, mules and what not. When the "strike" runs out, they die off.

What were the mules for, in case the bars ran out of hookers?

See below although if you really wanted to "get with a mule" I suggest you don't from behind since mules kick like a...mule

Gold Mining Weight Puller #2: The Donkey *** Mule Horse

Before there was a Jeep, there was a horse. If there were Jeeps and Dodges back then, you would have seen them at all of the gold mining camps. But gold miners had horses and the derivatives. As it turns out for gold mining, a pack animal like a mule is better for gold mining chores and is easier to keep than a horse as well. For this reason, many gold mining newbies arrived on a horse, but would ride out on a mule or a donkey or an ***.

A mule is a combination of a male donkey and a female horse. I can see this happening in a gold mining camp. A mule is said to be hardier than a horse, but less obstinate or quarrelsome as a donkey. A donkey is also known as an ***, and is a domesticated member of the horse family. Just how domesticated however, is a question since donkeys tend to prefer their wants to the wants of it’s “owner”.
https://www.itmtrading.com/blog/gold-mining-weight-pullers/