News Hard Drive and SSD Shortages Are Imminent If This New Cryptocurrency Blooms

[Pirx73]

In the nutshell - DIY PC market will be dead and gone At least right now it seems so

 

[Krotow]

In the nutshell - DIY PC market will be dead and gone At least right now it seems so

I don't think so. Possibility to play games with nice 3D visuals however is seriously impaired because more or less decent GPU cost like used car. Development of AAA titles with realistic 3D visuals will certainly slow down for next 5 or more years till crypto bubble will burst. I however not envy folks who make money with high end GPUs in CAD design, animation making and similar jobs.

 

[InvalidError]

I however not envy folks who make money with high end GPUs in CAD design, animation making and similar jobs.

If you think that the price-gouging and scalping on consumer GPUs is bad, you should look at the MSRP of equivalent performance 'pro' GPUs.

If you are doing CAD and animation on a professional basis where you need those certified drivers for your specific applications, you look at scalper pricing on consumer GPUs and wonder to yourself: "what are you crying about? I still have to pay 2-3X as much as you do for equivalent performance."

 

[mrv_co]

I'm working on a new crypto currency based on "Proof of Defecation". My pièce de résistance.

 

[alceryes]

Difficulty would be so high you would be making like $1/day with 1PB...

AWS, Google, and Microsoft all raise their collective eyebrows.

https://imgur.com/zxOQ0Jj

View: https://imgur.com/zxOQ0Jj

 

[Afrospinach]

Maybe instead of having all this mining garbage they could have new currency issued by a central authority. Maybe call them a reserve bank or something.

I feel crypto is taking the real long route to econ 101 while really offering nothing new other than a crime haven, ecoligical disaster and social annoyance just so people can pretend they are "in control" or w/e

 

[alceryes]

Maybe instead of having all this mining garbage they could have new currency issued by a central authority. Maybe call them a reserve bank or something.

I feel crypto is taking the real long route to econ 101 while really offering nothing new other than a crime haven, ecoligical disaster and social annoyance just so people can pretend they are "in control" or w/e

You want to see a crime haven?? Wait till crypto currency gets issued by a central authority. Maybe call them a reserve bank or something.

 

[InvalidError]

I feel crypto is taking the real long route to econ 101 while really offering nothing new other than a crime haven, ecoligical disaster and social annoyance just so people can pretend they are "in control" or w/e

Block chains are a public ledger, makes it hard to hide the money trail, though the money trail may transit through multiple anonymous intermediate wallets.

Most of the crime element could be taken out by regulating the crap out of crypto exchanges, crypto wallets and any known entities that trade in crypto to make cashing out tainted coins extremely risky. Even just trading tainted coins along could be risky if wallet apps started checking transactions against a registry of crypto coins involved in ransoms and other criminal payments. That would be the equivalent of being able to trace the chain of custody of each individual $5/10/20/50/100/etc. bill all the way back to the day it was issued by the federal bank.

 

[Krotow]

Most of the crime element could be taken out by regulating the crap out of crypto exchanges, crypto wallets and any known entities that trade in crypto to make cashing out tainted coins extremely risky. Even just trading tainted coins along could be risky if wallet apps started checking transactions against a registry of crypto coins involved in ransoms and other criminal payments. That would be the equivalent of being able to trace the chain of custody of each individual $5/10/20/50/100/etc. bill all the way back to the day it was issued by the federal bank.

Mandatory validation indeed would make crypto currencies to the most transparent form of payment. However that will become exactly opposite to cause why crypto currencies now are so popular.

 

[blacknemesist]

It is the same fundamental principle as memory-hard hashes, except you scale the block size to something like 8TB that cannot fit in RAM to make mining entirely IO-bound.

So GPU mining but instead you burn server cpu's and hard drives? Is this just a response preemptive response to the GPU crash? It feels like it?

 

[blacknemesist]

Mandatory validation indeed would make crypto currencies to the most transparent form of payment. However that will become exactly opposite to cause why crypto currencies now are so popular.

So basicly it becames a normal coin but it stays in a virtual state on the virtual wallet of the virtual user.

 

[ClapTrapper]

You want to see a crime haven?? Wait till crypto currency gets issued by a central authority. Maybe call them a reserve bank or something.

Why wait? In America it is called the Federal Reserve-these corporate scam artist are so proud of their name they have been putting their name on US currency,and scamming, since 1913.

 

[Akole]

Got myself a 980 Pro, I did'nt listen to my gut before GPUs went to <Mod Edit>. Not this time, I pray Crypto crashes hard lol

 

[Sleepy_Hollowed]

this is why Toms will eventually only cover mining equipment, the rest of us will be priced right out of our hobby, IDK how long my 10 year old GPU will last and I cannot afford to sell my house to get a new one cause, you know, electricity burning fake ass money.

This is no joke, they already run these articles because there's lots of money in it at the moment.

It's also crazy, because this is just a supply chain issue. If they mandate retailers to have wait lists or pre-orders, this would not be an issue. It's incredible that it's 2021 and there's still no such automated system in place, when up to the early 2000s "lay away" and back-orders were possible.

 

[Pirx73]

... waiting for the first reports about targeted attacks and cryptomining site robberies. Scalpers might also realize they have second source of income...

 

[chalabam]

Great!

This will fund storage manufacturers, financing more investment.
Long term, this means better and cheaper storage.

 

[chalabam]

Maybe instead of having all this mining garbage they could have new currency issued by a central authority. Maybe call them a reserve bank or something.

The reserve bank stole half of your dollars on the last decade, by "mining" dollars.
And after the pandemic is stealing even more. Welcome to inflation.

 

[Krotow]

The reserve bank stole half of your dollars on the last decade, by "mining" dollars.
And after the pandemic is stealing even more. Welcome to inflation.

And how mining would help to mitigate inflation? I see only IT part market distortion and exorbitant energy draw.

 

[Deleted member 14196]

Why wait? In America it is called the Federal Reserve-these corporate scam artist are so proud of their name they have been putting their name on US currency,and scamming, since 1913.

Yes

 

[InvalidError]

Mandatory validation indeed would make crypto currencies to the most transparent form of payment. However that will become exactly opposite to cause why crypto currencies now are so popular.

Sounds like you got the whole concept of block chain wrong as the whole point of a block chain is to create a public ledger that anyone can audit at any time. You were never going to get any more anonymity than the anonimity your trading partners will give you. At most, you may have plausible deniability from using throw-away wallets.

 

[chalabam]

And how mining would help to mitigate inflation? I see only IT part market distortion and exorbitant energy draw.

The dollar (and the Euro) lost 20% of his purchasing power on the last year, compared to most currencies.
20% of your savings in dollar were stolen.

On the same time, Bitcoin value grew by 600%

 

[helper800]

The dollar (and the Euro) lost 20% of his purchasing power on the last year, compared to most currencies.
20% of your savings in dollar were stolen.

On the same time, Bitcoin value grew by 600%

Where are you getting this information? 20% inflation over the last year or multiple years?