chinese miners dumping computers en masse as crypto crashes and power prices soar
Hahahaha
Cooper Adams
Other urls found in this thread:
coindesk.com
twitter.com
Owen White
Fuck Chinks, I hope they have to go back to working on their rice paddies.
Andrew Hall
Why don't they just turn off the machines and wait until the price goes up/electricity prices go down? How is throwing away your expensive machines helping your bottom line?
Luis Anderson
No, this was from a long time ago.
There was a flood and they had to get everything out of the building.
There's more pics of Chink miners washing off graphics cards, probably for resale.
Evan Myers
Look at all that gold that needs harvested
Kayden Butler
PoW is fucking garbage. What a gigantic waste of resources
PoS is the future
John Rogers
such is the gook way. remember fukashima?
Lincoln Rivera
Protip: It wont go up
Hudson Diaz
PoS is older than PoW, PoW was invented to solve the shortcomings of PoS.
Proof of Work is desire chasing beauty via energy being spent across time; it results in surprising, limited information being created. Being scarce and hard to predict is largely what makes it worth spending energy on, and what makes the tokens produced by the Work worth anything at all.
PoW is more secure than PoS and establishes stronger economic fundamentals.
Josiah Nguyen
screencapped for future cringe threads. enjoy missing the golden bull
Jack Bailey
it's happening
>U.S.-based bitcoin mining firm Giga Watt has declared bankruptcy with millions still owed to creditors.
coindesk.com
Jaxon Roberts
PoS has been tried for longer than PoW, and PoW has been more successful than all PoS efforts.
PoS lacks the economic fundamental of creative surprises.
You need to study history of digital currency more. I can screen cap your ignorance and make fun of you too.
Cameron Hall
said a brainlet with no idea about anything
>hurrayy POS!!! save the electricity!! hurr durrr no global warming he he
kys
Op's pic is from a flood from a good while ago, but brainlets just swallow every bait like typical npcs
Gabriel Scott
c o p e
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Elijah Bennett
so, you're saying they should just HODL their machines? Brilliant m8
Luke Walker
stick to your shithereum with no supply cap, and icos still holding millions of eth LMAO
I'll be laughingat every bitcoin hater and shitcoin maximalist in a year from now
Camden Fisher
You going to refute my points about PoW being superior to PoS? I'd love to hear your brilliant insights on how these currencies work.
John Carter
PoW has yielded a system where all users have to trust the benevolence of one or two pool operators to secure the currency. A centralized mint signing blocks would be just as secure, and far less wasteful, as a miner controlling 51% of the hashing power.
If a centralized mint is
unacceptable to Bitcoin users, they should not tolerate de facto centralization of mining power.
Joshua Edwards
UASF proved that miners do not have maintain a monopoly. You demonstrate that you do not understand the centralizing effects of PoS and its relation to currency issuance.
Luis Garcia
A centralized mint is a single point of failure, the entire reason Bitcoin was invented was to eliminate single points of Trust to avoid their inevitable failure.
Gabriel Wilson
>miners do not have maintain a monopoly
Yet the recent hash wars demonstrates how fragile PoW actually is. I'm not going to start another endless debate with another BTC cultist.
>You demonstrate that you do not understand the centralizing effects of PoS and its relation to currency issuance
It's too early to claim that PoS will remain more centralized. Give it two or three years and you will see that PoS is the future
Robert Bennett
>Trust
The benevolence of one or two pool operators to secure the currency
Aiden Johnson
UASF demonstrated that Miners do not have a monopoly on Bitcoin.
The recent hashwars is showing how robust the network is. Bitcoin is still operating perfectly despite the hash war.
PoS centralizes currency issuance to the most wealthy individuals in the network for the foreseeable future.
Bitcoin mining eventually hits zero inflation.
Noah Garcia
it's more based
Jordan Price
Do you *not* think that Creative, Surprising information is the key to Capitalism's success? Literally every invention in human history is creative surprising information.
Brody Lewis
it says after a FLOOD. nice bait though.
Levi Phillips
Real businesses compete in a rapidly changing landscape where Schumpeterian creative destruction exercises constant evolutionary pressure on incumbents. Real businesses need local knowledge, face organizational issues and principal agent problems. Bitcoin mining is a purely synthetic economic sector centered around hashing power, a purely fungible commodity. It would be mistaken to hastily generalize and think that such a sterile environment is endowed with the same organic robustness that characterizes a complex, fertile, economy.
Joshua James
If Proof of Work is what it takes to prevent new money from being issued to the largest holders in the network, then it is a necessary for ensuring the money is well-distributed globally.
Bitcoin mining is not based on local knowledge -- it is global knowledge and is a different animal than what local businesses do.
Mining discovers creative and surprising truth, that truth being finite is what backs the money, and all invention and Capitalism is based upon this primary axiom.
Every PoS is doomed to inflate forever. which is not sound and hard money.
All of these efforts have been in the name of producing hard currency, anything less is a reinvention of the same flaws.