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Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Sun November 28, 2021 8:21 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
Nearly done reading this book about the blockchain, and it seems obvious that Ethereum has dramatically more applicability and opportunity to revolutionize various industries than Bitcoin.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Sun November 28, 2021 9:28 pm
Misplaced My Sponge
Joined: Wed January 02, 2013 3:41 am Posts: 5595
tragabigzanda wrote:
Nearly done reading this book about the blockchain, and it seems obvious that Ethereum has dramatically more applicability and opportunity to revolutionize various industries than Bitcoin.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Sun November 28, 2021 9:30 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
simple schoolboy wrote:
tragabigzanda wrote:
Nearly done reading this book about the blockchain, and it seems obvious that Ethereum has dramatically more applicability and opportunity to revolutionize various industries than Bitcoin.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Mon November 29, 2021 5:50 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
crypto and eth going back up again today, presumably after Omicron's impacts to the stocks. Doubled down on my tiny investments just to see what happens over the week.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Tue November 30, 2021 7:34 am
Misplaced My Sponge
Joined: Wed January 02, 2013 3:41 am Posts: 5595
tragabigzanda wrote:
simple schoolboy wrote:
tragabigzanda wrote:
Nearly done reading this book about the blockchain, and it seems obvious that Ethereum has dramatically more applicability and opportunity to revolutionize various industries than Bitcoin.
But Vitalik is a massive dweeb.
so was Bill Gates
The only comparison we have is Satoshi. Mysterious, pseudonymous. Untapped wealth just sitting there under his name.
No need to worry about transaction cost/ time if you just HODL.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Thu December 02, 2021 6:35 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
Just bought five shares (I'm talking stocks, not crypto) of an environmentally-focused bitcoin mining co. They use reclaimed coal in a controlled environment to mine BTC while simultaneously cleaning up the environment, and the team looks legit. Hmm.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Thu December 02, 2021 7:00 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
wease wrote:
How do you mine bitcoin?
To do it effectively, you need lots of very large computers. But really anyone can try to do it, you just won't be successful (and you might break your computer)
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Thu December 02, 2021 7:31 pm
Misplaced My Sponge
Joined: Wed January 02, 2013 3:41 am Posts: 5595
tragabigzanda wrote:
wease wrote:
How do you mine bitcoin?
To do it effectively, you need lots of very large computers. But really anyone can try to do it, you just won't be successful (and you might break your computer)
At the current hash rate isn't there a negative ROI unless you're stealing electricity?
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Thu December 02, 2021 7:40 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
simple schoolboy wrote:
tragabigzanda wrote:
wease wrote:
How do you mine bitcoin?
To do it effectively, you need lots of very large computers. But really anyone can try to do it, you just won't be successful (and you might break your computer)
At the current hash rate isn't there a negative ROI unless you're stealing electricity?
I think that's the reasonable big picture view, but there are a lot of subtleties to consider (what's their energy source, how are they funded, what's their debt like, do they have alternative revenue streams, do they own all their assets, etc).
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Thu December 02, 2021 8:32 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47145 Location: In the oatmeal aisle wearing a Shellac shirt
I put $200 into Bitcoin and Ethereum a few weeks back while I read up on the technology. Made a bunch of minuscule plays in some other alt-coins, that all offer white papers and promises of revolution, but very little beyond that. Overall, my coin value over the last three weeks tends to fluctuate wildly +/- 3%.
Meanwhile on Robinhood, the same amount put into crypto-adjacent securities is up almost 6% today.
I don't want to read too much into this based on one day of trading on Robinhood, but it seems like unless you're a total cryptogeek, the better approach to short gains is with conventional stocks in established companies that actually know how to make money on crypto tech.
Post subject: Re: bitcoin, the blockchain, and cryptocurrency
Posted: Thu December 02, 2021 8:35 pm
Major Dude
Joined: Sat January 05, 2013 1:57 pm Posts: 32497 Location: Where everybody knows your name
tragabigzanda wrote:
wease wrote:
How do you mine bitcoin?
To do it effectively, you need lots of very large computers. But really anyone can try to do it, you just won't be successful (and you might break your computer)
So where does coal come into this?
_________________ Let me tell you, Homer Simpson is cock of nothing! - C. Montgomery Burns
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