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Bitcoin

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phinix:
Do you guys invest in crypto?
What known platforms do you use?
Is it worth it, hard, easy?
Wanted to see how popular it is in our keeb circles :)

yui:

--- Quote from: phinix on Tue, 06 April 2021, 04:25:02 ---Do you guys invest in crypto?
What known platforms do you use?
Is it worth it, hard, easy?
Wanted to see how popular it is in our keeb circles :)

--- End quote ---
i tried my hand at mining, and got at the moment 0.0005BTC out of it, and a dead pc (although it was tired from folding for a whole year before mining)
i used nicehash on one GPU while folding@home was running on the other 2 + cpu.

Findecanor:
Bitcoin (and other "mined" cryptocurrencies such as Etherium) is in-effect a pyramid scheme. Pyramid schemes work only as long as they can attract new suckers into the scheme. This is why some prominent Wall Street investors don't touch the stuff - they saw right away that it is not sustainable in the long run.
It's growth is purely based on speculation ..  (but for what? Underpants?)
As with any such scheme, if you get in early before it has become too popular and it is successful and you cash out in time, then you could make a lot of money. However, if you get in late, and you are in there when the bubble bursts, well ... these are not Bitcoin's early days.

The value of Bitcoin also fluctuates a lot, and has a $25 (?) cost of transaction, so it is not useful for storing value or for payments.

Bitcoin is not based on any real value itself. But it does waste an ungodful amount of energy, worsening the climate crisis.
Bitcoin isn't practically "mined" on graphics cards any more. It went to special ASICs (application specific chips) years ago, in huge farms in China, running on coal power.

There are also many scams around Bitcoin, and malware and hacks stealing other people's bitcoin. Be wary.

yui:
yeah i should have been a bit more precise, none of my hardware actually mined bitcoin, but i got paid in bitcoin, and home mining in the winter can be close to a 0 when it comes to energy, as the heat from the miner is heat that the heater does not have to produce, mining farms in an other hand... i would not mine anymore as most my heaters are now off, next winter if it still is worth something maybe.

chyros:
Bitcoin wastes an incredible amount of energy and contributes absolutely nothing. I'm all for forbidding it.

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