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This Is What Happens When Bitcoin Miners Take Over Your Town
Larrry de Seattle
Up for coffee?
User ID: 1337
03-10-2018 10:14 AM

Posts: 1,039



Post: #16
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
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Looks like it would take a ton of money to do this. Are they really pulling a PROFIT off all that? WOW
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BlackCat
Every day is an extra day
User ID: 1337
03-10-2018 07:20 PM

Posts: 2,551



Post: #17
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
[ ]Bitcoin Is Ridiculous. Blockchain Is Dangerous[/size]

https://www.bloomberg.com/news/features/...-paul-ford


Quote:There’s no easy way to explain Bitcoin, but let me wave my hands and try:

When you go to the ATM at a store and get money to buy a six-pack, you put in your bank card.

The transaction processor verifies it somewhere in the ether, takes a fee, and spits out cash.

It’s all powered by software.


OK, deep breath.


Acquiring Bitcoin is like using an ATM, except instead of government-backed money you get proof that a computer somewhere solved an automated puzzle faster than other computers, and instead of using an ATM card you’re using an auto-generated token that only you have, and instead of connecting to a bank you’re connecting to a decentralized network of computers that collectively maintain and update copies of a massive historical database of transactions—and that also collectively validate transactions, using, well, math,

and spit out new Bitcoins from time to time,

to reward the puzzle solvers.



Slow exhale.


Almost there.


And instead of buying a six-pack from someone behind a counter, you’re transferring some amount of Bitcoin to another anonymous token.

Over time, all the transactions that people make get lumped into blocks and validated, and they get a special code that takes into account all the codes in the blocks that came before,

and thus you have it: a blockchain.

According to Bitcoin.org, the Bitcoin blockchain is about 145 gigabytes, though it will be bigger by the time you read this.

You can download the whole thing, the entire portrait of the Bitcoin economy, onto a USB drive.

[Image: 1611hb6qwzpz.jpg]

A Cat may look upon a King.
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LoP Guest
lop guest
User ID: 1337
03-10-2018 07:22 PM

 



Post: #18
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
money has always been the easiest way to move mountains
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BlackCat
Every day is an extra day
User ID: 1337
03-12-2018 08:01 PM

Posts: 2,551



Post: #19
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
LoP Guest  Wrote: (03-10-2018 07:22 PM)
money has always been the easiest way to move mountains

[ ]The Mountain West Is Experiencing A Second Gold Rush. This Time They’re Mining Bitcoin.[/size]

https://www.buzzfeed.com/charliewarzel/t...-rush-this


[Image: longform-original-25486-1520544863-3.jpg...ality=auto]
Quote:Thanks to its plentiful land and cheap power, rural Montana, Washington, and Wyoming are now home to a new crop of cryptocurrency prospectors. Their neighbors aren’t too happy about it.

[Image: 1611hb6qwzpz.jpg]

A Cat may look upon a King.
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BlackCat
Every day is an extra day
User ID: 1337
03-12-2018 08:15 PM

Posts: 2,551



Post: #20
RE: This Is What Happens When Bitcoin Miners Take Over Your Town

[Image: 1611hb6qwzpz.jpg]

A Cat may look upon a King.
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LoP Guest
lop guest
User ID: 1337
03-12-2018 08:18 PM

 



Post: #21
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
Black [email protected]  Wrote: (03-09-2018 06:47 PM)
People have been robbing banks, stores, drug dealers...

How long long till they start robbing people like this, not long I would say

they already do, wallets get stolen all not too infrequently.
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LoP Guest
lop guest
User ID: 1337
03-12-2018 08:20 PM

 



Post: #22
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
If you think this is a foolish waste, take a moment to reflect on nature. Very often, the first "upgrade" in a species is also accompanied by a gigantic specimen. This allows the primary components (like the brain) a chance to develop on a different scale, which makes it easier to assemble the intricate parts. Later, when environmental pressure forces a scale-back, the developmental changes remain but go back to smaller form.
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LoP Guest
lop guest
User ID: 1337
03-12-2018 09:13 PM

 



Post: #23
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
Them miners need someone like Trump's grandfather up in the Yukon in the old days to set up a nearby princess house hotel. Stormy could be the madam.
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BlackCat
Every day is an extra day
User ID: 1337
03-13-2018 06:28 PM

Posts: 2,551



Post: #24
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
[ ]Innovative Heater Pays for Itself by Mining Cryptocurrency While Generating Warmth[/size]

http://www.odditycentral.com/technology/...armth.html

Quote:The Quarnot QC-1 is advertised as the world’s first crypto-heater, allowing consumers to mine cryptocurrencies and utilize the heat generated by two on-board graphics cards for heating their homes.

Heat generation is one of the biggest challenges cryptocurrency miners have to deal with. Large crypto farms have to invest in expensive venting and cooling solutions to make sure that all the heat produced by their mining rigs dissipates properly, but usually all that heat is just wasted.

Now, French company Quarnot Computing claims to have come up with a solution that effectively turns the heat generated by a mining device from an expense into a usable resource.

The Qarnot QC-1 crypto-heater looks nothing like your usual cryptocurrency mining machine. It’s stylish and uses a passive cooling solution, so it’s able to silently operate as a heater with up to 650W capacity.

According to the manufacturer, the QC-1 is capable of heating a 20 square-meter room, sung the heat generated by two Sapphire NITRO+ Radeon RX 580 graphics cards embedded inside.

In normal mode, the crypto-heater produces 450W of heat, but if you need a bit more, you can activate a booster mode via the provided mobile app, for and extra 200W.

[Image: quarnot-qc-1-heater.jpg]





https://youtu.be/TAbp5xx2HSE

[Image: 1611hb6qwzpz.jpg]

A Cat may look upon a King.
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LoP Guest
lop guest
User ID: 1337
03-13-2018 06:32 PM

 



Post: #25
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
LoP Guest  Wrote: (03-09-2018 09:12 PM)
So, total waste of energy.
Hardly any video cards and nice gaming.
And these coins probably make you lose all you invest in them in the end.

And that from such an idealistic corner of IT anarchist/freedom fighters, in the nineties.

Idealism can be dangerous, if it doesn't work.

Greed overtakes everyone.
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Skip.
lop guest
User ID: 1337
03-13-2018 06:37 PM

 



Post: #26
RE: This Is What Happens When Bitcoin Miners Take Over Your Town
We live in stupid stupid times...
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