Potentially our future as well considering the carbon and ecological footprint of crypto, both in terms of energy spent mining, and production of single-purpose hardware that can’t really do anything else, rival some medium sized developed countries.
The GPU mining got me a free GPU and several hundred dollars, for the cost of about 10 cents per KWh. I’d take that “scam” any day of the week, and so I mined until it was over for GPU mining. No regerts.
And that money came from someone. You can’t win in crypto unless someone else loses. Typically it’s vulnerable people wishing for a get rich quick hack who lose.
All those GWh wasted on “mining” only got us closer to the edge.
Which is why a lot of cryptocurrencies adopted proof of stake in favor of proof of work.
which is literally a rich get richer scheme on steroids…
It’s trickle up economics
Just like the cycle of water ! if it never rained
Vacuum cleaner economics
Too little too late.
They were using more power than the entirety of Switzerland, just so a handful of people could get rich.
Bitcoin, the largest crypto by far with almost 50% of the entire market, is still using proof of work and has no plans to do otherwise.
Not like the millions or billions of man hours wasted to make 50-ish removed into defacto-gods.
Don’t forget its not just man-hours, but man-lives too
Potentially our future as well considering the carbon and ecological footprint of crypto, both in terms of energy spent mining, and production of single-purpose hardware that can’t really do anything else, rival some medium sized developed countries.
Electricity better spent than what is dimming our night skies with light pollution, IMO, but also proof of stake fixed that.
The GPU mining got me a free GPU and several hundred dollars, for the cost of about 10 cents per KWh. I’d take that “scam” any day of the week, and so I mined until it was over for GPU mining. No regerts.
And that money came from someone. You can’t win in crypto unless someone else loses. Typically it’s vulnerable people wishing for a get rich quick hack who lose.