where CT sounds blows all your money spent on them

[Papermaker85 5,000+ posts]

each rack is about 80 thousand worth of GTX 1080TIs

At least the money is circulating. In another 6 months it's going to die.

 

[Papermaker85 5,000+ posts]

You got to sell the s*** once you minded otherwise it's useless and it's going to be useless pretty soon actually so you can keep mine in but if you don't sell it then your money goes down the drain I think it's pretty f****** pointless and it was a ploy to sell more product

 

[Jeffdachef 5,000+ posts]

It already has.

only to the people who dont know anything about crypto and just listen to the news which is TOTALLY trustworthy and fully researched and not fake at all *cough* , there's still money to be made mining small "penny" currencies on the rise. There's like 100 other crypto currencies other than bitcoin, etherium zencash etc.. Hell you can mine some on your phone if you want.

 

[Boomin_tahoe 5,000+ posts]

Weeeelllllll sheeeeeeeeeeeeeiiiiiiitt guess I dunno the difference between fake news and real news..... -_-

 

[bigblank69 10+ year member]

I don't fully understand digital currency but how do a ton of graphics cards "mine?"

Its the perfect currency for Drug dealers....

 

[los33]

Graphic cards gpu which is an equivalent to a cpu can handle much more calculations then a standard cpu..

Combining each gpu is like a mini supercomputer.

Bitcoin purchase transactions require calculations so it can be processed via a crypto signature.

Thats where the miners come in, they use their setups to handle the calculations via a vlan pool which is a group of different setups sharing calculations together making it easier to calculate the entire process.

Larger setups like colemans can do calculations without being in a vlan as they have enough power to do it alone.

Each signature fully calculated earns a certain amount of btc or whatever the coin being used kinda like a transaction fee.

The people mining collect those fees for the work they put in..

Only way crypto currency can even be worth more is if people continue to purchase coins.

If everybody was to stop buying coins and mining continued then the cryptocurreny worth will drop very fast.

It depends on constant transactions to stay alive.

Thats the best i can dumb it down for not techys.

Sent from my SM-N950U using Tapatalk

 

[THATpurpleKUSH 5,000+ posts]

Graphic cards gpu which is an equivalent to a cpu can handle much more calculations then a standard cpu..
Combining each gpu is like a mini supercomputer.

Bitcoin purchase transactions require calculations so it can be processed via a crypto signature.

Thats where the miners come in, they use their setups to handle the calculations via a vlan pool which is a group of different setups sharing calculations together making it easier to calculate the entire process.

Larger setups like colemans can do calculations without being in a vlan as they have enough power to do it alone.

Each signature fully calculated earns a certain amount of btc or whatever the coin being used kinda like a transaction fee.

The people mining collect those fees for the work they put in..

Only way crypto currency can even be worth more is if people continue to purchase coins.

If everybody was to stop buying coins and mining continued then the cryptocurreny worth will drop very fast.

It depends on constant transactions to stay alive.

Thats the best i can dumb it down for not techys.

Sent from my SM-N950U using Tapatalk

Ok I'm starting to understand it. What is a crypto signature? Something to do with security and anonymity?

 

[los33]

Ok I'm starting to understand it. What is a crypto signature? Something to do with security and anonymity?

When you visit a website that has https in it, that means you are securely browsing the site.
That same secure signature used for sites is what they use to secure aka encrypt each transaction.

It would take a supercomputer to decrypt each transaction which would still takes weeks or months.

Which is why cryptocurrency is "anonymous"...

Sent from my SM-N950U using Tapatalk

 

[Papermaker85 5,000+ posts]

Graphic cards gpu which is an equivalent to a cpu can handle much more calculations then a standard cpu..
Combining each gpu is like a mini supercomputer.

Bitcoin purchase transactions require calculations so it can be processed via a crypto signature.

Thats where the miners come in, they use their setups to handle the calculations via a vlan pool which is a group of different setups sharing calculations together making it easier to calculate the entire process.

Larger setups like colemans can do calculations without being in a vlan as they have enough power to do it alone.

Each signature fully calculated earns a certain amount of btc or whatever the coin being used kinda like a transaction fee.

The people mining collect those fees for the work they put in..

Only way crypto currency can even be worth more is if people continue to purchase coins.

If everybody was to stop buying coins and mining continued then the cryptocurreny worth will drop very fast.

It depends on constant transactions to stay alive.

Thats the best i can dumb it down for not techys.

Sent from my SM-N950U using Tapatalk

With every calculation the next becomes more complex.

It's a waste of money. You better off in the stockmarket.

 

[denim 5,000+ posts]

All about the Alt-coins yo.

 

[wew lad 5,000+ posts]

Don't invest anything you aren't prepared to lose. Just as quickly as bitcoin took off, so can another crypto essentially crippling every other coin that gets phased out.

Coleman got more dummies to invest in a different market the same way he got people to invest in his company even though the amps were proven to **** and break

Only way crypto currency can even be worth more is if people continue to purchase coins.

It depends on constant transactions to stay alive.

and with the massive fees.. it's bound to have a (likely negative) effect

 

[hispls 5,000+ posts]

Last time I checked 1 bitcoin was worth over 16 grand lol....In dollars not dollhairs

And down to 11K today. Totally not a bubble though and not at all manipulated by the usual suspects.

One born every minute I guess.

 

[Jeffdachef 5,000+ posts]

Ok I'm starting to understand it. What is a crypto signature? Something to do with security and anonymity?

try to get on the dark web and you'll find that all the drugs, guns, murders for hire, smuff films etc are all done in crypto currency. Its the ideal money of the black market.

 

[los33]

try to get on the dark web and you'll find that all the drugs, guns, murders for hire, smuff films etc are all done in crypto currency. Its the ideal money of the black market.

Got some onions for me?
Most of mine are dead.

Sent from my SM-N950U using Tapatalk

 

[Jeffdachef 5,000+ posts]

Got some onions for me?
Most of mine are dead.

Sent from my SM-N950U using Tapatalk

I havent checked in 3 months... havent been raving lately so i dont need my molly lol. Most likely mines are dead too.