The White House's take on crypto mining

Discussion in 'Crypto Assets' started by Pekelo, Sep 8, 2022.

  1. johnarb

    johnarb

    Bitcoin miner's provide the security of over 220 Million Trillion Hashes per Second

    • This makes Bitcoin the hardest money in existence




     
    #11     Sep 8, 2022
    Sprout, Tokenz and NoahA like this.
  2. deaddog

    deaddog

    No recourse if you are scammed or make a mistake.
     
    #12     Sep 8, 2022
  3. johnarb

    johnarb

    Don't get scammed or make a mistake

    I've never made a mistake sending a Bitcoin or any other crypto asset transaction. I've been scammed a few times, but it's not a big deal

    Think about it carefully. How much $ value are you going to get scammed for?

    You're not going to get scammed buying a condo, a yacht, a Breitling, a Gucci, or a Tag Heuer

    You might get scammed and not get your product from a small store, but most vendors are honest and want to sell their products and they want repeat customers and good reviews for future customers. Like the Ebay system of reviews

    https://bitify.com/buy/

    ------------

    This is a $50 prepaid Visa credit card I purchased in 2013 which I never received. It's still sitting on the bitcoin address I sent it to


    upload_2022-9-8_22-41-9.png

    I was not scammed. Rumor on Bitcointalk is that something happened to the vendor. He might have passed away

    The 0.3 btc is part of the millions of btc's lost forever
     
    #13     Sep 9, 2022
    Tokenz likes this.
  4. Pekelo

    Pekelo

    Because you are dumb. And dumb people shouldn't advise us on technology or finance. You brought up solar, nobody is complaining about miners using solar, although that is still a waste of resources. We are complaining about them using up energy (lots of time dirty energy) and tech equipment when they could be used for much better purposes. Ask any gamer how they feel about the increase in price for video cards.

    Do you think miners in Texas turned off their mining equipment (as the governor dreamt of) when the heatwave hit the state? My bet is that they didn't, why would they?

    If you want to argue for crypto, promote Nano or the after Merger ETH, they both use much, much less energy.

    But bringing up solar is not the way to push your agenda...

    P.S.: I never call names, I just correctly describe a poster's state of mind.
     
    #14     Sep 9, 2022
  5. Lol Bitcoin is providing the world with a true hard money alternative to fiat, giving a lifeline to billions who have no other alternative, and you were worried about gamers graphics cards. What a joke
     
    #15     Sep 9, 2022
    johnarb and NoahA like this.
  6. Pekelo

    Pekelo

    Everyone has his own preference son. Now if you could design a coin that doesn't need millions of graphic cards to be able to exist... Oh wait, I am sure there are such coins.

    So instead of crying, why not switch to an economically feasible "hard money alternative"? Because nobody gives a shit about such a feature...

    That lifeline to billions could be achieved by using Nano, 1/millionth of the energy usage of the bitcoin network. But nobody is going to switch because the technologically shitty BTC's value isn't derived from its usage as currency.
     
    Last edited: Sep 9, 2022
    #16     Sep 9, 2022
  7. deaddog

    deaddog

    So one of the costs of using bitcoin is that you might get scammed and have no recourse.
    You are responsible for doing due diligence whenever you buy something online. If the vendor doesn't ship or ships a poor quality (not as advertised) product, you just write that off as a cost of doing business.

    Your key - your coin. I understand that. How many people have access to your key?
     
    #17     Sep 9, 2022
  8. johnarb

    johnarb

    Why do you plan your life on getting scammed?

    Don't use Bitcoin or any crypto asset on any questionable purchase. It's not hat difficult
     
    #18     Sep 9, 2022
  9. deaddog

    deaddog

    I don't plan on being scammed and if I am I'll probably have recourse as I don't use crypto.

    You didn't answer my question as to how many people have access to your key.
    I'm assuming at least 3.
     
    #19     Sep 9, 2022
  10. johnarb

    johnarb

    Why you kept bringing it up?

    Cryptos assets stored on Coinbase and other centralized entities belong to them

    As for the other stuff, you know that's personal info, and I chose not to answer

    But consider a scenario if something happens to you and what happens to your stuff... it's similar estate planning, but different execution
     
    #20     Sep 9, 2022