Cryptocurrency miners are renting Boeing 747s to ship graphics cards

Re:Cryptocurrency miners are renting Boeing 747s to ship gra... by LeoPanthera on Monday July 31, 2017 @02:50AM (#14889958)

You seem to assume that mining is the point of a cryptocurrency, and I don't think it is. Even Satoshi, when he was still around, predicted that mining would eventually be out of reach of the normal user.

But you can still "take part" by using it for what it actually is - a currency.

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Re:Cryptocurrency miners are renting Boeing 747s to ship gra... by taw55 on Monday July 31, 2017 @04:29AM (#14890325)

The big problem with cryptocurrencies is that they're really not currencies...

I don't know anyone who would want to use BC for anything other than speculation. Speculation that undermines the stability of the currency, which isn't conducive to use as currency.

There are proper cryptocurrencies that don't require mining but they don't seem to get nearly as much attention.

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Re:Cryptocurrency miners are renting Boeing 747s to ship gra... by captainmuon on Saturday August 05, 2017 @07:29AM (#14935246)

I see the following uses for cryptocurrency:

- Turning my "being good with computers" / learning about it early on the internet into money

- Buying illegal stuff on the darknet (which I didn't do yet)

- Speculating / Gambling

- Transferring wealth across borders while avoiding high conversion fees

While these are typical money functions, they are all fringe activities. I don't see myself ever using bitcoin as a replacement for Euros - that is for receiving my salary, for buying things (that I can get legally), for investing or saving.

One reason is I don't share the crypto-idealists idea of an anarcho-capitalist utopia...

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