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I'm a Horrible Person! ( Crypto Mining Slump )

Discussion in 'Crypto Currency & Mining' started by pp111, Dec 4, 2018.

  1. Bug One


    Joined: Oct 18, 2002

    Posts: 9,636

    Location: Sandwich, Kent

    For every miner in here flashing their new sports cars - are a whole lot of mugs who bought into the bandwagon and lost all their 'real' money.
  2. Caracus2k


    Joined: Jan 27, 2009

    Posts: 4,988

    That tends to be how pyramid / ponzi schemes work
  3. Rossi~


    Joined: Nov 5, 2010

    Posts: 19,304

    Still money to be had. More so in selling scams ICOs and Masternodes ;)
  4. Caracus2k


    Joined: Jan 27, 2009

    Posts: 4,988

    Crypto asic supplier bitmain looks to be in big financial trouble

    Can't say I'll shed a single tear if the whole cryto house of cards comes collapsing down.

    The technology (blockchain) may find uses elsewhere but cryto has largely been nothing more then a scam with liitle to no real world utility.

    Even if mining is done on asic's rather then gpu's (driving up the price of the latter for consumers not interested in mining) this means that the fabs at places like tsmc are utilised to make them which reduces the availability and / or drives up the price of chips for use in other applications affecting a wide range of people.
  5. Diddums


    Joined: Oct 24, 2012

    Posts: 18,529

    Location: London

    One page for me sweetheart, I consume my GD on man sized sheets <3
  6. Dis86


    Joined: Dec 23, 2011

    Posts: 21,411

    Location: Northern England

    Typical sexist example of the male patriarchy. You make me sick.
  7. mmj_uk


    Joined: Dec 26, 2003

    Posts: 23,153

    Global temperatures will be going down now then. New ice age it is.
  8. Trappi$t

    Perma Banned

    Joined: Oct 30, 2018

    Posts: 320

    If the global order (read governments and financial institutions) do not want the crypto that is out there to be a rival for "real" currency, they will easily make sure it becomes worthless, and the entire thing would have been an utter waste of time, although not for those who took the risk and made off with the big bucks.
  9. Armageus


    Joined: May 19, 2012

    Posts: 10,059

    Location: Spalding, Lincolnshire

  10. d_brennen


    Joined: Jan 30, 2009

    Posts: 15,371

    Location: Aquilonem Londinensi

    Screw mining buy lotto tickets
  11. wesley


    Joined: Jul 29, 2003

    Posts: 7,208

  12. Pudney


    Joined: Sep 6, 2005

    Posts: 5,427

    Location: Essex

    I can only assume you are an upstanding feminist on the basis you seem to infer there can also be a female patriarchy :D :p
  13. DarrenM343


    Joined: Oct 19, 2008

    Posts: 4,741

  14. Telecaster


    Joined: Jun 17, 2012

    Posts: 4,934

    What do you mean previously inflated? Not exactly plummeted have they, seems the retailers love mining as much as anyone, they get to bump the price up during the boom and then leave it there during the bust and everyone keeps buying them, laughing all the way to the bank!
  15. Diddums


    Joined: Oct 24, 2012

    Posts: 18,529

    Location: London

    Ha, dunno what you're waffling on about pay per view, you'll be the +1!

    Although we did have a great night last night, didn't we @dowie <3

  16. Vince

    Man of Honour

    Joined: Oct 30, 2003

    Posts: 7,967

    Location: Essex

    On no, won't we think of the gamers? Why don't we get wound up when somebody buys a load of gtx or vega gpu's for some other function like rendering, damn those content creators and businesses that are using a computational device for making money. They are stealing all "our" gpu's and they aren't even gaming on them how dare they? bah.
  17. Th0nt


    Joined: Jul 21, 2005

    Posts: 6,436

    Location: N.Ireland

    I read somewhere during the shortage and price hike era that a university was having to wait because its order of 200 GPU's was only partially being fulfilled. Then you read that the manufacturers have direct buyers shipping by the thousand for private mining farms etc. and the gamers are whining about some small time home miner hobbyist...
  18. Narj


    Joined: Feb 19, 2010

    Posts: 11,946

    Location: London

    Fingers crossed I can finally look at a new main system soon, then. I refuse to pay the stupidly inflated GPU prices out of principle.
  19. mattpc


    Joined: Oct 18, 2002

    Posts: 4,726

    Location: Manchester

    Great sentiments there. I'd be very interested to know why you feel that way and what hole you poured your own money in to that makes you express these strange sentiments. I'm not sure where Bloomberg got these numbers from but I doubt 100,000 miners have gone bust. Perhaps ASIC miners... For your information, it has been quite easily to exit the GPU mining space without serious loss thank you.

    Or the otherhand Bitmain in trouble..... Oh NOW I'm laughing and a lot!

  20. pp111


    Joined: Oct 22, 2018

    Posts: 167

    Miners have negatively impacted on the PC market and on gaming. Whether it is their fault or not I don't care, I am actually just delighted to see their business fall apart... becuase it means there is a chance that the PC market and gaming will recover. Sure there will be personal loss but that's what you get if you invest in volotile markets. We have all lost out buying in to the wrong things at times, its just part of life. So, once again, BAHAHAHAHAHAHA!