Sometimes, people should just be allowed to be wrong on the internet.
Topic: SETI and Bitcoin - page 2. (Read 4246 times)
That whole thread was full of incorrect. I had to restrain myself from logging in and calling them all out on their idiocy...
Sometimes, people should just be allowed to be wrong on the internet.
Sometimes, people should just be allowed to be wrong on the internet.
they are just envious, because our bitcoin super computer is larger than theirs!
This makes me wish I could post there even more! That statement would cause so much angst!
I guess you must find some aliens first lol
Now that I've said that I realised that there is a much bigger chance for Bitcoin to be a huge success than them finding aliens
i don't get this, the calculations which are done during mining have a purpose. 
they are just envious, because our bitcoin super computer is larger than theirs!
This makes me wish I could post there even more! That statement would cause so much angst!
they are just envious, because our bitcoin super computer is larger than theirs!
If you spend $1000 worth of hardware and electricity inefficiently searching for aliens then you can tell yourself you helped $1000 worth. But if you spend $1000 inefficiently on bitcoin mining and get $900 worth of coins you can only really tell yourself that you lost $100.
Well, bitcoin mining certainly won't net the casual miner a whole lot of profit these days, that's true.
But this thread highlights the biggest image problem for bitcoin today. People are still equating bitcoin with "printing your own money!" Hell, a good portion of people on these very forums still think in this paradigm (look at all the people whining about ASCI for proof of this).
There needs to be less and less discussion here and elsewhere about the USD value and mining of bitcoin, and what it can actually DO.
I would post in that thread on SETI, but it says I need more "credit". I have 365,000 credits, so who the frak knows what you need. Oh well.
But this thread highlights the biggest image problem for bitcoin today. People are still equating bitcoin with "printing your own money!" Hell, a good portion of people on these very forums still think in this paradigm (look at all the people whining about ASCI for proof of this).
There needs to be less and less discussion here and elsewhere about the USD value and mining of bitcoin, and what it can actually DO.
I would post in that thread on SETI, but it says I need more "credit". I have 365,000 credits, so who the frak knows what you need. Oh well.
Don't worry. Even educated persons can be dumb and not see things like they truly are.
I met a dentist the other day(who happens to think he's also a trader) that told me that Bitcoin is a bubble...
Then he started talking about his trading habits and I came to discover he only invests on the stock market and uses his bank. You know, he calls the bank today, they sell his stocks some other day, if he's lucky on the same day, charging a hefty fee
After all that I'm surprised he even knew Bitcoin existed lol
About that SETI thread: Is the OP there saying he wants to start mining with NVIDIA cards, or those GTX 680/690 he talks about are something else? lol
I met a dentist the other day(who happens to think he's also a trader) that told me that Bitcoin is a bubble...
Then he started talking about his trading habits and I came to discover he only invests on the stock market and uses his bank. You know, he calls the bank today, they sell his stocks some other day, if he's lucky on the same day, charging a hefty fee
After all that I'm surprised he even knew Bitcoin existed lol
About that SETI thread: Is the OP there saying he wants to start mining with NVIDIA cards, or those GTX 680/690 he talks about are something else? lol
As a long term Seti user , they don't represent the average user. I have been searching for aliens with SETI For 10 years.
I kick myself in the butt everytime I think how many cpu cycles could have been used for bitcoin in the early days... I could have been a really EARLY ADOPTER !!
DAMN...
I kick myself in the butt everytime I think how many cpu cycles could have been used for bitcoin in the early days... I could have been a really EARLY ADOPTER !!
DAMN...
Ah well, not very helpful answers at least.
It's true that Bitcoins only have 0 value in themselves and are only worth what others would pay you for it (which is ~2-5% less than fiat money like USD or EUR...). The claim that mining has never been profitable however is definitely wrong - even currently there's still (with some good hardware) the chance to profit from mining operations AFTER electricity payments + depreciation.
I find it weird that people who "waste" watt after watt for the search of alien signals in radio telescope data can't see a point in mining for BTC.
Especially they should be used to be seen as the electricity wasting weirdos of the internet that are pursuing big dreams with a tiny chance of huge success.
It's true that Bitcoins only have 0 value in themselves and are only worth what others would pay you for it (which is ~2-5% less than fiat money like USD or EUR...). The claim that mining has never been profitable however is definitely wrong - even currently there's still (with some good hardware) the chance to profit from mining operations AFTER electricity payments + depreciation.
I find it weird that people who "waste" watt after watt for the search of alien signals in radio telescope data can't see a point in mining for BTC.
Especially they should be used to be seen as the electricity wasting weirdos of the internet that are pursuing big dreams with a tiny chance of huge success.
A thread speaking about Bitcoin in the SETI@home forum
http://setiathome.berkeley.edu/forum_thread.php?id=68683
let's quote some reply
Yep & a famous old quote comes to mind...
"A fool & his money is soon parted"
So long for the "clever people" doing SETI
http://setiathome.berkeley.edu/forum_thread.php?id=68683
let's quote some reply
Quote
A pyramid scheme isn't a pyramid scheme until it comes crumbling to the ground... then everyone goes, "Oh! It was a pyramid scheme"
Stay away!
Stay away!
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I'm sorry, but I can't see for the life of me (or what's left of it) the point behind Bitcoin Mining.
Cheers.
Cheers.
Quote
Yep & a famous old quote comes to mind...
"A fool & his money is soon parted"
Quote
Bitcoin mining is a joke of a pyramid scheme, where even the original one or two probably won't ever have any real money to speak of.
If you want to spend your electricity and computers time on something, may I recommend sticking with DC projects that serve a purpose.
And, at NO point in bitcoin history, (not since before the money split the first time), has there been any way to profit. The electric itself costs more money that the money it produces, and once you factor in hardware...
well you get the point.
If you want to spend your electricity and computers time on something, may I recommend sticking with DC projects that serve a purpose.
And, at NO point in bitcoin history, (not since before the money split the first time), has there been any way to profit. The electric itself costs more money that the money it produces, and once you factor in hardware...
well you get the point.
Quote
And not to mention all the cheating that is going on.
It's just one big scam, you can't make money out of nothing...
It's just one big scam, you can't make money out of nothing...
So long for the "clever people" doing SETI
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