hash rate mania | Bitcointalksearch.org

frankenmint

legendary

Activity: 1456

Merit: 1018

HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: wpgdeez on January 13, 2014, 11:17:40 AM

Mining BTC is such a joke now, what a massive waste of electricity from these oh so efficient ASICS.

hmmm yes...I'm on target to make 9x my electricity cost this month - and 22x my electricity cost last month (sucks it was that low but I'm paying residential tier 4 rates which are ridiculous). If you ask me, that's pretty damn efficient.

Caveat Emptor: if cryptocoin tanks, then yes, I concur with you. So far its looking contradictory to that statement though. Grin

Anddos

sr. member

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Yes is time to sell your asics now before its to late

Its About Sharing

legendary

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Antifragile

Quote from: wpgdeez on January 13, 2014, 11:17:40 AM

Mining BTC is such a joke now, what a massive waste of electricity from these oh so efficient ASICS.

That is a pretty narrow perspective. There is a point to having an extremely strong network.

What about banks, and the electricity they use, people they hire, gold and securities they store and all the $$$ they spend?
What about cars idling at traffic lights, dirty emissions, etc. It is all around you and BTC, relatively speaking, is NOTHING.

Since BTC is an "online" entity, we can easily lose sight of the fact of the value in mining. But it essentially secures the network.

Perhaps we create another algorithm that is more "productive" but that brings up other problems...

IAS

bcpokey

hero member

Activity: 602

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Quote from: marko9812 on January 13, 2014, 12:03:07 PM

Yeah by the time even the first neptune's come out they probably won't make their money back other than by just selling the device to another sucker. The next difficulty jump is 32% -_-

Show your math.

marko9812

newbie

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Yeah by the time even the first neptune's come out they probably won't make their money back other than by just selling the device to another sucker. The next difficulty jump is 32% -_-

wpgdeez

hero member

Activity: 728

Merit: 500

Mining BTC is such a joke now, what a massive waste of electricity from these oh so efficient ASICS.

jeliman

full member

Activity: 227

Merit: 125

https://blockchain.info/charts/hash-rate

is this crazy hash rate surge an answer to the latest security issue(Ghash), or new chineese ship of ASICs has been unloaded on the shores of California?

or both?

Topic: hash rate mania (Read 1368 times)