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General discussionNon-Fungible Idiots: A Rant on the misuse of Blockchain.(46 posts)(46 posts)
(46 posts)
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This is my favourite topic
Posted April 29, 2021
Bitcoin miners are worse than drug dealers.

At least drug dealers only harm some people within their lifetime. Bitcoin miners are hurting our SPECIES.
Posted April 29, 2021
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lupineshadow: Bitcoin miners are worse than drug dealers.

At least drug dealers only harm some people within their lifetime. Bitcoin miners are hurting our SPECIES.
Yes, but the good news is they are spreading up global warming and hence speeding up global eradication, which is a good thing across the board.
Posted April 29, 2021
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lupineshadow: Bitcoin miners are worse than drug dealers.

At least drug dealers only harm some people within their lifetime. Bitcoin miners are hurting our SPECIES.
In what way? I don't know much about it.

You can't say ruined lives from drugs doesn't have longer term environmental effects since it leads to poverty which leads to not affording ecological products, energy and food and can be an ongoing thing for generations. Besides the abuse generally involved.
Posted April 29, 2021
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Darvond: Thing is, all that processing power used could be used for other things like distributed computing, and the technology behind it used for some actual application.
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WinterSnowfall: Exactly. Not only is it an impractical and harmful way of using technology, but it's something that was explicitly designed this way even when there were other options on the table... Chia being one cryptocurrency that will soon prove the point, albeit hogging storage space instead of compute cycles.

I have yet to see a revolutionary and productive use of blockchain outside of logistics and supply chain management. Well, there was this - probably the most original exploit anyone's come up with in a while.

In the tech space, blockchain was supposed to be a messiah, changing the way we do things forever. Turned out it's just a powervirus SDK and another tool for backing get rich quick schemes that will ultimately fall under corporate control.
Fuck now I'm going to have to buy a few extra HDD and SSD's before this shit kicks in. Will this even effect MicroSD card prices?!
Posted April 29, 2021
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Sarang: Will this even effect MicroSD card prices?!
Unlikely, since SD cards and USB sticks use the trashiest flash memory possible.

Btw, I've heard price hikes have already hit Asian regions, so you'd better hurry up I guess :P.
Posted April 29, 2021
NFT is a chic new way for idiots to waste their money on.
Post edited April 29, 2021 by NuffCatnip
Posted April 29, 2021
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Sarang: Will this even effect MicroSD card prices?!
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WinterSnowfall: Unlikely, since SD cards and USB sticks use the trashiest flash memory possible.

Btw, I've heard price hikes have already hit Asian regions, so you'd better hurry up I guess :P.
God this is horrible for some of us looking for a ODE and to load those up. More then ever we need a new, localized sensible crypto and I believe this is possible.

edit: Conspiracy here but are we sure part of the push for Crypto and some willing to lose their shirt pushing the value up is to push, i.e. FORCE the average consumer out of owning powerful PC's? I mean forcing them into streaming games
off the equivalent of dummy terminals? This includes video editing and making games as well and just forcing you to a subscription on a cloud PC.
I mean they're trying to shove the subsciption model down everyone's throat with everything else.
Post edited April 29, 2021 by Sarang
Posted April 29, 2021
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NuffCatnip: NFT is a chic new way for idiots to waste their money on.
It's like artwork transactions. Art investors will inflate their auction bids as an investment. This normalizes its value to everyone. The investor can then retain or grow its value because of all the marketing hype. And looking how how social media and regular news outlets are reporting on stories, NFTs have gained millions in free publicity.
Posted April 29, 2021
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Sarang: God this is horrible for some of us looking for a ODE and to load those up. More then ever we need a new, localized sensible crypto and I believe this is possible.
FWIW, only large capacity drives and high-end/enteprise SSDs should be affected. Consumer grade stuff usually had too low of an endurance to make sense for these kind of I/O intensive things.

It makes sense when you compare it to GPU mining - nobody buys a 1650 for that, they only use top tier of upper mid-range cards for it.
Post edited April 29, 2021 by WinterSnowfall
Posted April 29, 2021
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Sarang: God this is horrible for some of us looking for a ODE and to load those up. More then ever we need a new, localized sensible crypto and I believe this is possible.
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WinterSnowfall: FWIW, only large capacity drives and high-end/enteprise SSDs should be affected. Consumer grade stuff usually had too low of an endurance to make sense for these kind of I/O intensive things.

It makes sense when you compare it to GPU mining - nobody buys a 1650 for that, they only use top tier of upper mid-range cards for it.
On that note will it skyrocket the cost of Samsung's EVO's?

Will I be able to likely pre-order a 3070Ti Winter?
Post edited April 29, 2021 by Sarang
Posted April 29, 2021
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Sarang: On that note will it skyrocket the cost of Samsung's EVO's?
More like Samsung Pros. Maybe. The large capacity ones in particular. But Samsung has particularly expensive SSDs, so it's most likely Chia miners will buy other brands. The goal is to maximize capacity and endurance, not I/O speed.

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Sarang: Will I be able to likely pre-order a 3070Ti Winter?
I'll pull a Keanu being asked what happens when we die and I'll say: If you will be able to pre-order one, I sure will too, and we'll all be happy :P. The rest is the mystery of the future.
Post edited April 29, 2021 by WinterSnowfall
Posted April 29, 2021
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WinterSnowfall: It makes sense when you compare it to GPU mining - nobody buys a 1650 for that, they only use top tier of upper mid-range cards for it.
That's because of the real ("economically viable") computing power to price of card ratio. If the 1650 had a bigger one than a powerful but expensive GPU, either nominaly or because that GPU went up in value, then you would see farms of 1650 popping up as well. The actual storage space and hardware overhead is usually not that relevant.

So if they figure out that cheaper consumer grade SSDs are better at making money at scale, that's not gonna be good.
Posted April 29, 2021
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Titanium: So if they figure out that cheaper consumer grade SSDs are better at making money at scale, that's not gonna be good.
From what I heard the algorithm eats SSD endurance for breakfast, so I doubt consumer grade drives will be at risk. QLCs for sure will not be an option.
Posted April 29, 2021
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WinterSnowfall: From what I heard the algorithm eats SSD endurance for breakfast, so I doubt consumer grade drives will be at risk. QLCs for sure will not be an option.
Oh right, yeah the longevity of the expensive drives is quite good, even expense wise compared to the cheaper ones.

But you never know, if you can squeeze out $100 from a drive worth $80 with overhead, and scale up to 1000, that could make it work. That is atrocious use of resources, but hey, so are Tomahawk missiles in war exercises.
Posted April 30, 2021
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ResidentLeever: https://www.youtube.com/watch?v=OX9fRxVe6i0
https://www.youtube.com/watch?v=dSchm1VgMWI
https://www.youtube.com/watch?v=Tn_6pQZjNDE

First guy is rather smug but their arguments make sense to me.

Still NFTs sound pretty dumb as anything other than an alternative to physical art/luxury item merchandise and even then it's just like a silly status symbol that's meaningless to me personally.
To expand the conversation rather than try to disprove any opinion, I'll share this post which opposes the given arguments. Hopefully it enriches the debate:
The Unreasonable Ecological Cost of #CryptoArt (Part 1): https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053

The Guardian also has a podcast on the topic but I haven't been able to listen to it yet. Here it is in case anyone is interested: The hidden cost of the craze for non-fungible tokens: https://www.theguardian.com/australia-news/audio/2021/mar/15/the-hidden-cost-of-the-craze-for-non-fungible-tokens
Post edited April 30, 2021 by Wirvington
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Community
General discussionNon-Fungible Idiots: A Rant on the misuse of Blockchain.(46 posts)(46 posts)
(46 posts)