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Mining ? ?


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5 replies to this topic

#1 OldPhil

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Posted 08 March 2018 - 04:38 PM

To start I know -0- about mining currency, but I am curious why it has driven prices up on video cards and I think ram.  Why is this happening?


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#2 The-Toolman

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Posted 08 March 2018 - 05:09 PM

I know nothing about mining currency either but from what I've read high powered video cards with lots of memory are best.

 

 https://arstechnica.com/tech-policy/2018/01/cryptocurrency-boom-creates-insane-global-graphics-card-shortage/


Edited by The-Toolman, 08 March 2018 - 05:56 PM.

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#3 DavidLMO

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Posted 08 March 2018 - 05:50 PM

Light reading....

 

https://www.coindesk.com/

 

CC Mining is insane and a decent machine needs a high end graphics card.



#4 OldPhil

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Posted 08 March 2018 - 07:06 PM

How are these types of currency backed, kind of a weird setup if you ask me.


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#5 Chris Cosgrove

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Posted 08 March 2018 - 07:39 PM

@ OldPhil #4

 

They are backed the same way virtually every currency in the world is - by faith in it. Whether or not this faith in digital currency is justified is another question. Since you live in the States you might look up the SEC's opinions on the subject.

 

Chris Cosgrove



#6 DavidLMO

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Posted 08 March 2018 - 10:53 PM

Not one of them is backed up by anything except the full faith (LMFAO) of the company that floated them.  There may be a place for CC, but I not know what it is aside from drug deals and money laundering.  What is truly a hoot is that many of them have HUGE floats so scarcity is certainly not a factor.

https://coinmarketcap.com/all/views/all/

Ouch.

Senate is holding another hearing next week on CCs.  That ought to be ajoke since those clowns do not know their *** from a hole in the ground.  Imagine the glass eyed stairs as they discuss block chains, smart contracts and wallets.  :hysterical:  SEC & CFTC have finally taken an interest after nearly 10 years,  Duh.


Edited by DavidLMO, 08 March 2018 - 10:53 PM.





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