This is provably false
this post was submitted on 15 Mar 2024
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And who the hell mines on CPU? Can't mine anything worthwhile on gpus anymore, let alone CPU.
Monero is far more efficiently mined with a hefty CPU and plenty of cores instead of a GPU.
Lots of coins are CPU only
I wish crypto would move away from POW; every new coin still uses it, and it's the biggest reason for all of the hate crypto currency gets. But, most coins are people with scarce programming skills, just copying Satoshi's work, hoping that their shitcoin will get some traction and they'll be able to cash in before it collapses.
Is crypto still a thing? Honestly who is buying into that?
Bit has gone from 12k to 70k in the last year bro.
That was all thanks to me.
I finally dumped what i had because i came to the conclusion crypto isnt really a part of the future and doesnt do anything... Finally got round to selling it, so of course it hits a record high.
That doesn't mean it has any value. It's still mostly useless as a currency.
You were literally just told that it has value. You, 1 ignorant person saying it doesn't have value doesn't make it true.
Right at this moment in time one can literally sell 1BTC for about USD$70,000
Value is putting food in people's mouths, building shelter, and creating relationships. Value is not trading one pile of social constructs for another.
Chill, bro. Money isn't real. And crypto is even less real.
My point is that you have to exchange the bitcoin for US dollars and therefore bitcoin is not a currency. It's pure speculation.
No your point was, "is it still a thing, are people still buying into it."
The answer is yes, very much so. Your opinion is irrelevant.
OK, my friend. I wish you the best of luck.
Bitcoin literally is a currency. It's typically not a fiat currency, but it can still be exchanged for some goods and services.
I'm not pro crypto or anything, it's just that it's demonstrably false to say crypto isn't real.
What goods and services can you purchase with bitcoin?
I've got a cousin who's perpetually bankrupt. He's super into Crypto. He's a self-crafted crypto investment professional in fact.
People never learn
We had a global pandemic and there are still people afraid of vaccines
Typical miners ruining everything for everyone.
Ya, first coal, now this
Not what I was going for but sure.
Aren't GPUs better at mining?
Not anymore. Bitcoin now requires dedicated hardware (ASICs). Other coins were designed to make use of ASICs impossible or impractical, requiring GPUs, but those still require a CPU to drive them.
New developments, such as Ethereum moving away from proof of work to proof of stake made GPUs unnecessary, but you still need a computer with a CPU to validate the blocks on the block-chain.
Edit: Even with ASICs mining bitcoin, you still need servers to distribute the work to them.
need a computer with a CPU
So, like... a computer.
Analog computers don't have CPUs as we understand them...
so the calculations are done on the cpu now?
is that why the powerful chips are being bought?
It depends on the coin, but basically, yes.
you have different methods of calculations for different types of crypto. most use gpu calculations, some may favor cpu calculations. there are a handful that do so using hard drives for instance.
It's for things like Monero, I think.
I WANTED TO BUY THAT THING NEXT WEEK :(
Looks like it's still in stock, as per a comment above. This article is false.
I had 9 bitcoin in 2011. Still can't remember the password.
Hah. I stored mine in a password less local wallet; I honestly can't remember if encrypted wallets were available when I got mine - at the time, Satoshi was still giving out coins for free if you emailed them. Really, really lucky choice, because I then completely forgot I had any for 10 years until they popped up in the public news. I'd been copying ~ from computer to new computer reflexively for that entire time... it was utter luck that, when I went to check, sure enough ~/.bitcoin was there, with a positive wallet balance. Not enough to retire, but enough to be able to retire a couple of years early.
It's encrypted now, and I unlock it every once in a while to ensure I can, but I'm otherwise still ignoring it. As an investment, it's done far better than any other of my $ invested in the stock market, bond, IRA, or 401k... but I think as a get-rich-quick scheme, it's been over-rated.
I literally just bought one of these in Sydney.
https://www.msy.com.au/product/amd-ryzen-9-7950x3d-am5-4-2-ghz-cpu-processor-68895
Well glad I snagged mine last November with a Microcenter bundle deal +5% store card savings 🥺😅.