BitCoin: Should I Sign Up?

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Re: BitCoin: Should I Sign Up?

Postby Abdul Alhazred » Wed Dec 27, 2017 11:51 pm

No surrender! :P
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Re: BitCoin: Should I Sign Up?

Postby Rob Lister » Wed Dec 27, 2017 11:56 pm

sparks wrote:If one is trying to heat one's home to a comfortable temp, then one should pay attention to where the Watts are going. If they're staying in the domicile, one may take that as a WIN.

If some of them go out the webz, that would constitute a FAIL.

But, it is, after all, a matter of intent.

Fuds Law, damnit!


So there you go Abdul and Gnome. You have spark's almost comprehensible reply.

To be pedantic ...
Nothing goes out to the webz but 1's (I submit a fraction of a picowatt to you) and 0's (I absorb a fraction of a picowatt from you). Assuming an even distribution of each, the net is zero. With fiber, those picowatts turn into femtowatts.
Last edited by Rob Lister on Thu Dec 28, 2017 12:02 am, edited 1 time in total.

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Re: BitCoin: Should I Sign Up?

Postby Abdul Alhazred » Wed Dec 27, 2017 11:58 pm

Hey Lister:

To quote my knowledgeable buddy sparks "FAIL". :De_Bunk:
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Re: BitCoin: Should I Sign Up?

Postby sparks » Thu Dec 28, 2017 12:01 am

Yet, energy must be expended to produce the 1's and 0's going out the webz. Net (no pun intended) energy going away from the appliance you are running.

Further, it (your appliance) is not 100% efficient, therefore your home will be heated. but in a small way.

Continue to pay your gas bill. Or learn to love your CPU like a shape-shifter.



It is NOT a nice thing and therefore allowed.






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Re: BitCoin: Should I Sign Up?

Postby Rob Lister » Thu Dec 28, 2017 12:04 am

Abdul Alhazred wrote:Hey Lister:

To quote my knowledgeable buddy sparks "FAIL". :De_Bunk:


I don't get that dude. It is your fail.

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Re: BitCoin: Should I Sign Up?

Postby Abdul Alhazred » Thu Dec 28, 2017 12:10 am

Sure.

If you are somehow mining bitcoins with zero energy leaving the house ... which is to say you're not really mining bitcoins.

Buy a heat pump. You'll get more heat for the buck.
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Re: BitCoin: Should I Sign Up?

Postby Rob Lister » Thu Dec 28, 2017 12:23 am

Abdul Alhazred wrote:Sure.

If you are somehow mining bitcoins with zero energy leaving the house ... which is to say you're not really mining bitcoins.



Are you being glib? It all leaves the house eventually. Through the windows, the walls, the ground. Not so much through the internets.

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Re: BitCoin: Should I Sign Up?

Postby sparks » Thu Dec 28, 2017 12:48 am

Listy has a new word: Glib. He's used it twice today.

Good boy Rob.

Those self help books are really paying off! :)



Yes it all leaves the house eventually. But if you have good windows, walls and a decently insulated basement, then you have a chance of staying comfy. But not on the energy it takes to run a single confuser, let alone the energy leaving the house through the 1's and 0's you are transmitting to the webz.

Admittedly, very little energy leaves the 'hood through the webz. But SCIENCE!!! says that a small, yet definable amount does.

Eat that, skeptics!
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Re: BitCoin: Should I Sign Up?

Postby Mentat » Thu Dec 28, 2017 1:06 am

But that's just the networking side. These rigs chew through kilowatts of power running GPUs and CPUs, not for talking over ethernet or wifi.
It's "pea-can", man.

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Re: BitCoin: Should I Sign Up?

Postby Abdul Alhazred » Thu Dec 28, 2017 1:14 am

So why not heat your home by playing Warcraft (is that still a thing)?

It's not a bitcoin issue.
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Re: BitCoin: Should I Sign Up?

Postby Mentat » Thu Dec 28, 2017 1:24 am

The application doesn't matter. Mining certain currencies is just a reliable way to keep most of the computing cores busy all day.
It's "pea-can", man.

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Re: BitCoin: Should I Sign Up?

Postby Anaxagoras » Fri Dec 29, 2017 2:14 am

A space heater of the same wattage would cost maybe 100 bucks, maybe less or more, but close enough, so obviously this is a secondary use. And it's only going to be helpful for maybe 4 or 5 months of the year. The rest of the year you either don't need more heat or you actually want to cool things down. And you can't just put it outside. If you have a shed or a garage you could put it there maybe, if there's a power outlet, but I wouldn't have a good place in my house to put it in the summer.
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Re: BitCoin: Should I Sign Up?

Postby Anaxagoras » Sat Jan 06, 2018 1:14 am

Episode 816: Bitcoin Losers (Planet Money podcast, NPR)

Plenty of people will tell you they're getting rich off of Bitcoin. They could be right. But there's another group of Bitcoin owners that aren't so ecstatic. Because they might be rich, too, but they lost the passkey that would let them get at their digital fortune. Syl Turner is in that second, less glamorous group. When he got around one-and-a-half Bitcoins seven or eight years ago, they were nearly worthless. So worthless he bunked the hard drive that held the key somewhere and now he can't remember where.

Today on the show, we join Syl on a digital treasure hunt, as he ventures into his attic looking for what could be the key to his Bitcoin wallet, and tens of thousands of dollars. It's all or nothing. In the decentralized anti-governmental world of Bitcoin, you can't file a claim for damaged or lost currency. You've either got the key, or you don't.

Then Kimberly Grauer and Jonathan Levin of Chainalysis help us figure out how much Bitcoin has been lost and why it's so difficult to track down, and try to figure out if there's any way to find Syl's vanished riches.


Rob, you ever find your lost bitcoin? :notsure:
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Re: BitCoin: Should I Sign Up?

Postby Rob Lister » Sat Jan 06, 2018 1:27 am

nope.

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Re: BitCoin: Should I Sign Up?

Postby Witness » Sat Jan 06, 2018 1:56 am

Image

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Re: BitCoin: Should I Sign Up?

Postby Pyrrho » Sun Jan 07, 2018 12:54 pm

https://www.duffelblog.com/2018/01/bitc ... diers-say/

FORT JACKSON, S.C. – Bitcoin futures today suffered from heightened volatility due to rumors of a possible two-day extension of MRE rations, soldiers on a field exercise reported.

“I thought that trading my jalapeño cheese for .00000387 Bitcoin was a good choice three days ago,” said Pfc. Josh Warner. “But now that there are rumors that we’ll have MREs instead of mermites tomorrow and the end of FIELDEX BBQ is cancelled because of a DUI from another unit, I’m realizing that the value of that MRE cheese would have tripled if I held onto it until tomorrow.”
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Re: BitCoin: Should I Sign Up?

Postby gnome » Wed Jan 17, 2018 11:25 am

The Daily Express announces the "end" of cryptocurrencies.

https://www.express.co.uk/finance/city/ ... outh-korea

I think that may be premature.
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Re: BitCoin: Should I Sign Up?

Postby Witness » Thu Jan 18, 2018 5:38 am

Image
BBC wrote:CES 2018: Kodak soars on KodakCoin and Bitcoin mining plans

Shares in photo firm Eastman Kodak soared nearly 120% after it revealed plans to mint its own crypto-currency, the KodakCoin.

The US firm said it was teaming up with London-based Wenn Media Group to carry out the initial coin offering (ICO).

It is part of a blockchain-based initiative to help photographers control their image rights.

Kodak also detailed plans to install rows of Bitcoin mining rigs at its headquarters in Rochester, New York.

Details of this second scheme - which is being branded the Kodak KashMiner - were outlined at the CES tech show in Las Vegas.

Customers will pay up-front to rent mining capacity.
http://www.bbc.com/news/technology-42630136


And for a contrasting opinion:
lifehacker wrote:Why Kodak's Bitcoin Scheme Is a Scam You Should Avoid

Just like your friend from college who won’t stop posting about it on Facebook, Kodak is really into cryptocurrencies. During CES 2018, the company announced a two-pronged blockchain strategy: 1) its own cryptocurrency called KodakCoin designed to improve image rights for photographers and 2) a Bitcoin mining scheme called KashMiner where customers can rent equipment and allegedly make money over a two-year period.

That first one isn’t a terrible idea. It uses blockchain technology to solve a legitimate issue, and Kodak’s well-established brand could help popularize the idea of a public ledger for image rights to ensure that photographers get paid for their work. However, the second announcement is quickly being written off as a scam and proof that the Bitcoin bubble is dangerously close to popping.
https://lifehacker.com/why-kodaks-bitcoin-scheme-is-a-scam-you-should-avoid-1821957658

The two points which apparently make it a scam: 1. Mining gets more and more difficult and 2. Nothing guarantees a continued rise of the Bitcoin. Details at the link.

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Re: BitCoin: Should I Sign Up?

Postby Abdul Alhazred » Thu Jan 18, 2018 10:28 am

Corporate crypto currencies.

That's the step that will make it successful. :|
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Re: BitCoin: Should I Sign Up?

Postby Rob Lister » Thu Jan 18, 2018 11:54 am

Witness wrote:The two points which apparently make it a scam: 1. Mining gets more and more difficult and 2. Nothing guarantees a continued rise of the Bitcoin. Details at the link.


1. appears to be a feature. I've got nothing on 2.
But assuming bitcoin is currently a bubble, what would have to pop down to for it not to be a bubble?


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