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I started mining in 2011, blogged about how to do it with scripts as early as Ubuntu 8.04 Blog has since been wiped, most of my traffic was coming from China.
by jcpham2 5y ago
I started mining in 2011, blogged about how to do it with scripts as early as Ubuntu 8.04
Blog has since been wiped, most of my traffic was coming from China. I decided it was a bad idea to talk about money on the internet: see the first and second rule(s) of Fight Club. I should not enable mining bots with bash shell scripts on my blog.
We share some thoughts. The NFT's only make sense to me if you are using them inside of some meta-realm as a form of validation. ICOs were scams and the memecoins are scams and the Youtubers shilling this stuff are scammers as far as I'm concerned. I watched a video the other day of MrBeast and some other Youtubers laughing about shilling cryptopunks. Pretty sad life if you ask me.
If the market grows on its own and I didn't promote it or shill it, does that not mean it's legitimate?
I thought Ethereum was a pre-mine scam at first (kinda still do) but the market has spoken and all of these cryptos are just big pools of liquidity to swim in now. ETH has enabled and built some wild things like AAVE and AMM's but it's difficult to understand the value proposition in 2021/2022 - other than just big pools of liquidity. I think L2 scaling on Ethereum has huge potential.
I stayed off-market until 2017 and then I had to pay a few years worth of salary in taxes to the government because I got jiggy with the first ATH in 2017 as the knife was falling.
2021 has been interesting. A decade into this crypto thing, very little has stopped it. It's difficult to stop an idea once the genie is out of the bottle.
Yes, I believe Proof of Work is a race to the bottom; but it might just be the thing that fairly and accurately prices energy usage one day. I ran 16 GPUs sucking down nearly 3kW around the clock for ~24 months and then I had to shut down the operation because difficulty and I could no longer afford the electricity.
Am I destroying the planet? I don't know. I'm retired from proof of work mining.
I'm a staker now ;-)
- MildlySerious 5y ago> I thought Ethereum was a pre-mine scam at first (kinda still do) This hits home. I really refused to acknowledge Ethereum for a long time, because I thought smart contracts and their need for oracles were stupid. Shifting around trust, instead of eliminating it. Security by obscurity, but for trust, is how I thought of it. I agree with and share the sentiment of the rest you're saying also. Bitcoin and PoW generally are no longer interesting or useful to me, but I also feel sometimes like I haven't really warmed up to the rest of the sector yet. I only mined with my desktop GPU. While I considered it, I never took the plunge and scaled up - instead I just bought more Bitcoin and sat on them for a little while, before I transitioned to other coins and tokens completely.