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A comment on Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half. Parent comment

Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by krsdcbl on Thursday February 18, 2021 @10:23AM (#26180818)
I don't quite get why everyone seems to get onto the environment train with crypto but seem to have had no issues with gold
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by bhaak on Thursday February 18, 2021 @10:36AM (#26181008)
Warren Buffett, the renowned investor, famously dismissed gold in a speech given at Harvard in 1998. He said: “It gets dug out of the ground in Africa, or some place. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

It sucks that gold is so desired just for its look. If it were cheaper it would be used a lot more for technological devices.

I can't wait until asteroid mining crashes the gold price and hopefully puts an end to the ecological disaster that is gold mining.

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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by olah_1 on Thursday February 18, 2021 @06:21PM (#26187243)
Buffet’s opinion of gold is not at all surprising considering his profession.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by tibbydudeza on Thursday February 18, 2021 @05:32PM (#26186703)
The same about diamonds.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by seunosewa on Friday February 19, 2021 @04:14AM (#26191114)
Diamonds are worse; they are only expensive because the supply is artificially restricted, and the marketing makes it obligatory for every groom to buy a diamond ring.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by perryizgr8 on Thursday February 18, 2021 @10:15PM (#26189190)
At least diamonds have utility in cutting tools etc.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by rhn_mk1 on Thursday February 18, 2021 @10:24AM (#26180833)
That's a false dichotomy.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by thomastjeffery on Thursday February 18, 2021 @10:25AM (#26180856)
Because we don't have any alternative to gold.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by JohnJamesRambo on Thursday February 18, 2021 @10:29AM (#26180923)
As far as I know (last time I googled it) if speculation was removed and hoarding, gold would be worth about $100 an ounce for the things we need it for.

So yes we do have alternatives to gold. Things such as Bitcoin and crypto, which keep going up in value, while gold speculation has stagnated and is even going down. Weakening dollar and massive debts due to the pandemic should mean gold skyrockets, but people are buying the alternatives. It looks grim for gold. Tesla didn’t buy gold, they bought Bitcoin.

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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by strangeattractr on Thursday February 18, 2021 @05:56PM (#26187003)
What would be the price of BTC if speculation and hoarding was removed?
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