Bitcoin Hash Rate Rapidly Growing Despite Price

Re:Bitcoin Hash Rate Rapidly Growing Despite Price by fareesh on Friday July 13, 2018 @02:11PM (#17525299)

I guess it depends on what you mean by "hashing equipment"

For example, if you go to Ritchie Street in Chennai, India there are plenty of stores that will sell you a top of the line GTX 1080 GPU for cash. No record of the transaction, and no taxes. A lot of stores will probably even accept USD.

You wouldn't be able to launder boatloads of cash this way, but with enough motivation you could do this on a regular basis and offset some cash.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by chanfest22 on Friday July 13, 2018 @02:22PM (#17525402)

Wow, that's terrible! We should probably ban cash because it is being blatantly used for money-laundering.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by Filligree on Friday July 13, 2018 @03:13PM (#17525815)

You kid, but in some places that's already in the process of happening. See Sweden, for instance.

https://www.bbc.com/news/business-41095004

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by ur-whale on Friday July 13, 2018 @05:00PM (#17526651)

Yes, it is unfortunately already the case in most EU countries. In France and Italy, for example, you can't buy a new car cash (cash transactions over 2.5K euros are basically illegal).

This is a very profound loss of individual freedom, almost as important as losing right to free speech would be, yet strictly no one on the political spectrum seems the least concerned about it.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by fel0nious on Tuesday July 17, 2018 @10:57AM (#17550110)

There is likely a balance here, somewhere.

Be careful equating money with free speech.

Citizens United in the US has had equally-troublesome consequences, based on the premises that corporations are people and money is their speech.

Conflict of interest plays a role here, and that's unfortunately something that has been under constant 'redefinition', especially in the last 20-40 years.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by ReverseCold on Friday July 13, 2018 @06:41PM (#17527498)

They're trying to do that in India right now.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by tschwimmer on Friday July 13, 2018 @02:39PM (#17525568)

How much off US MSRP? I’m actually in the market for a new card for a gaming rig at the moment.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by bowmessage on Friday July 13, 2018 @02:44PM (#17525616)

If I had to hazard a guess, it would be for more than US MSRP in order to incentivize the seller.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by fareesh on Friday July 13, 2018 @10:34PM (#17528481)

More expensive because there is an import duty cost to offset, which is between 10% and 30%

Taxes are 5-18% on top of that.

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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by chrischen on Friday July 13, 2018 @02:33PM (#17525519)

Why not then just sell the GTX 1080 directly to miners?

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