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Why the hell are these currencies worth anything to anyone?
Depends on which one you're referring to.
Bitcoin is worth because people think it is. It offers a nation-less currency (See also: Venezuela). It's extremely volatile because of that, but people make tons of money (and lose tons too). It's basically a stock market.
Ethereum and a few others actually have business backing and are used for goods and services. Which 'technically' no different that BTC, it has backing in that people will want to use it.
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IT'S ALWAYS BEEN WANKERSHIM | Did you mean: Fhqwhgads"Three days on a tree. Hardly enough time for a prelude. When it came to visiting agony, the Romans were hobbyists." -Mab
Thats... actually not true.
"real money" has value for a reason. Some of it is actually backed, and government has trust and value in it. It is a voucher for a valued item for trade. Bitcoin at least (and many others) have no value backing them, and are simply only valued because people expect it to. So.. it IS sort of make-believe.
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IT'S ALWAYS BEEN WANKERSHIM | Did you mean: Fhqwhgads"Three days on a tree. Hardly enough time for a prelude. When it came to visiting agony, the Romans were hobbyists." -Mab
FOMO coupled with buying overpriced AMD cards might've fucked over some people here.The AMD Radeon RX 400/500 card owners won’t be too happy to see what the benchmark shows will happen. The hashrate on the AMD Radeon RX 580 that we are testing is 27.0 MH/s currently and that will drop down to 25.6 MH/s by DAG epoch #140 and then 22.7 MH/s at DAG epoch #150. This is around a 16% performance drop in the hashrate in the next 90 days assuming the Ethash DAG changes every 4.5 days.
Last edited by Sorshen; 2017-07-05 at 10:49 AM.
Cheap-o used AMD cards will flood the used market soon enough once Etherium gets harder to mine.
⛥⛥⛥⛥⛥ "In short, people are idiots who don't really understand anything." ⛥⛥⛥⛥⛥
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If I want to upgrade my 960 graphics card to 1070 should I wait another 6 months or will this mining thing keep the prices high for a while and this is the new price?
Additionally, problem with Bitcoin is it is so volatile. It can never be a true currency since currency should be a stable measure of trade not a "venture". Tomorrow the price of the Bitcoin could fall from 2000 to 500. Why would I bet my entire business on that and give you a computer in exchange for a currency I don't know will hold its value? If I want, I can invest in some bitcoin with that cash you gave me as a PART of a portfolio. However, the people that exclusively invest in Bitcoin are incredibly misguided and riding the hype train.
Last edited by GreenJesus; 2017-07-05 at 05:39 PM.
What titles is your 960 not performing well enough in currently? Personally, I don't think it's worth it to upgrade just one generation later and would wait for the next gen at the least. Unless you got a 1440p or 144hz monitor and really need more than the 960 currently.
^
When looking at craigslist i only search for EVGA, im actually mad at myself that i didnt buy a used 1070 rather than getting a new 1060. With evga, used basically=new.
EVGA doesnt make AMD cards, and it's very unlikely that cheap Nvidias will flood the second hand market aswell. Just dont buy cards you suspect had been used for mining.
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GPU market is fucked up now in germany too. You cant find a cheap card and 80% are out of stock, even a fucking MSI GTX 1060 cost on alternate 470€.
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