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Correct, generating money out of thin air is absurd. Not sure what that straw man has to do with being rewarded for mining cryptocurrencies and exchanging them

Correct, generating money out of thin air is absurd. Not sure what that straw man has to do with being rewarded for mining cryptocurrencies and exchanging them for fiat though. That is clearly very possible and often profitable.

cloakandswagger 9y ago
Even being generous you'd be lucky to generate a $0.25/day profit mining Monero with a normal desktop. Factor in wide variations in electricity cost, the wear on PC components and fluctuating currency value and this is simply not practical. This idea is predicated on an intellectually dishonest premise that mining crypto is "free". Naive do-gooders will run this app without realizing the hidden costs.
- SippinLean 9y ago
  It is predicated on the honest premise that mining Monero is likely profitable.
  - davidkuhta 9y ago
    Do you feel the article does a suitable job of describing cryptocurrency mining such that a non-technical reader of injusticetoday.com would be adequately informed of the implications of installing the software?
    - SippinLean 9y ago
      >Once a user installs the app on their computer, it automatically harnesses a small amount of unused processing power to mine for cryptocurrency
      - davidkuhta 9y ago
        It defaults to 25% CPU usage (and appears to be an electron app). Which I would've placed as greater than small. https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88a96f6116d5ef7e0648a538f641b/desktop/miner.js#L23 https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88... Concede the point that users would be making an informed (albeit minimally) decision.
        SippinLean 9y ago
        That is false, it defaults to a maximum of 10% CPU usage, which I would've placed as small. https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88a96f6116d5ef7e0648a538f641b/desktop/main.js#L35 https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88...
        davidkuhta 9y ago
        Awesome, 10% is small [though that miner is initially instantiated at 25% ;)]. Thanks for engaging in a friendly, respectful dialogue with links to source!
davidkuhta 9y ago
I don't disagree that cryptocurrency is a valid technology, nor its profitability, nor its contribution to society. I do disagree with presenting it to a non-technical audience in such a fashion as to give the appearance of being zero cost.

cloakandswagger 9y ago

Even being generous you'd be lucky to generate a $0.25/day profit mining Monero with a normal desktop. Factor in wide variations in electricity cost, the wear on PC components and fluctuating currency value and this is simply not practical. This idea is predicated on an intellectually dishonest premise that mining crypto is "free". Naive do-gooders will run this app without realizing the hidden costs.

SippinLean 9y ago
It is predicated on the honest premise that mining Monero is likely profitable.
- davidkuhta 9y ago
  Do you feel the article does a suitable job of describing cryptocurrency mining such that a non-technical reader of injusticetoday.com would be adequately informed of the implications of installing the software?
  - SippinLean 9y ago
    >Once a user installs the app on their computer, it automatically harnesses a small amount of unused processing power to mine for cryptocurrency
    - davidkuhta 9y ago
      It defaults to 25% CPU usage (and appears to be an electron app). Which I would've placed as greater than small. https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88a96f6116d5ef7e0648a538f641b/desktop/miner.js#L23 https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88... Concede the point that users would be making an informed (albeit minimally) decision.
      - SippinLean 9y ago
        That is false, it defaults to a maximum of 10% CPU usage, which I would've placed as small. https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88a96f6116d5ef7e0648a538f641b/desktop/main.js#L35 https://github.com/thenewinquiry/bailbloc/blob/401cb4f288d88...
        davidkuhta 9y ago
        Awesome, 10% is small [though that miner is initially instantiated at 25% ;)]. Thanks for engaging in a friendly, respectful dialogue with links to source!

davidkuhta 9y ago

I don't disagree that cryptocurrency is a valid technology, nor its profitability, nor its contribution to society. I do disagree with presenting it to a non-technical audience in such a fashion as to give the appearance of being zero cost.