Bitcoin backlash as ‘miners’ stress power grids in Central Washington

Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by dvlsg on Sunday May 27, 2018 @01:41PM (#17168063)

I find myself hoping it implodes sooner rather than later. Purely selfish on my part - but I would like to be able to buy a new graphics card some day. I'm already dreading the insane scramble when Nvidia announces their new cards (likely this summer).

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by dahdum on Sunday May 27, 2018 @02:08PM (#17168204)

Crypto and the AI boom are funneling money to Nvidia for R&D and to ramp up production.

If you want advancement in graphics cards to come more quickly, it’s not a bad trend.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by raverbashing on Sunday May 27, 2018 @02:55PM (#17168473)

One good thing that comes out of this at least, though it's not only cryptocurrencies, it's AI as well.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by Macha on Sunday May 27, 2018 @04:14PM (#17168895)

However, after crypto blew up in their face last time (they ramped up production just before bitcoin gpu mining got replaced by ASICs and ended up with a load of unwanted GPUs), they haven't been so quick to ramp up production this time.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by dvlsg on Tuesday May 29, 2018 @01:02PM (#17180977)

I _do_ want advancement to come more quickly - but I also want to have access to those benefits.

Hopefully both can be achieved.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by navbaker on Sunday May 27, 2018 @02:15PM (#17168233)

I last built a gaming rig in 2012 and just this January decided it was time to upgrade. It took me a bit to figure out why the hell a mid-range graphics card was $700 minimum.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by SlowRobotAhead on Sunday May 27, 2018 @03:53PM (#17168803)

Good for Xbox and PlayStation which are screaming deals right now.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by Fjolsvith on Sunday May 27, 2018 @10:30PM (#17170288)

Can you rob the video card out of them?

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by bwbw223 on Sunday May 27, 2018 @11:22PM (#17170431)

They pretty much use Radeon HD 7870s, though...

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by SlowRobotAhead on Monday May 28, 2018 @02:12AM (#17170824)

That’s true if your knowledge of their lines is 5 years old.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by paulpauper on Sunday May 27, 2018 @02:30PM (#17168312)

bitcoin is already 65% off the highs. many other coins down 80% + more. I think that is pretty much close to imploded

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by pmorici on Sunday May 27, 2018 @02:46PM (#17168411)

That has happened like half a dozen times before in the history of Bitcoin. Not really a sign of demise.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by arsginionio on Sunday May 27, 2018 @04:33PM (#17168966)

Bitcoin has a lot of interesting failure modes if the price falls too far.

People will start taking mining hardware offline. This will result in a lot of idle capacity. There will be a number of people capable of pulling off a 51% attack. And if the hash rate falls very quickly, say 50% in a week, the difficulty adjustment will be unable to keep up. This would have all sorts of nasty effects.

If the price goes to $4000 it should go to zero. That's assuming that the "investors" will behave sensibly, which is never a safe bet.

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by sumedh on Sunday May 27, 2018 @09:29PM (#17170121)

> If the price goes to $4000 it should go to zero

Will you short bitcoin then?

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by SlowRobotAhead on Sunday May 27, 2018 @03:55PM (#17168808)

How many times before did your mom ask you about it?

Precedent isn’t here.

But, if you are willing to say what happened in the yesterday will happen tomorrow, I assume you’ve taken a HELOC put on your house and invested in bitcoin - rift?

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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by pmorici on Sunday May 27, 2018 @04:27PM (#17168939)

You comment is hard to understand but, I'm not saying the near term price is an indicator of it's long term health I'm saying it historically isn't a prediction of anything.

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