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originally posted by: Xabi87
a reply to: projectvxn
You solely into bitcoin or have you bought into a few alts also?
Concepts like distributed networking and decentralized processing are already in use. For instance, the BOINC system, relies on distributed computing for the storage and processing of signals data for SETI and other scientific programs’ observations. If the value of labor is work divided by time, then this can be transferred on to an idle CPU to render a service that benefits the owner (Anderson, D.P. 2002).
originally posted by: TonyS
a reply to: projectvxn
Thanks for the information! Interesting reading. S&F.
Like you..........I don't believe Bitcoin will go to zero. I would hazard to guess that as it comes ever more to be used in commercial transactions, the value of Bitcoin will "settle". By that I mean, the ups and downs in the value of Bitcoin will smooth out over time and settle into a more or less "comfortable" range. As that happens, speculation in the currency will no longer be attractive to the trading crowd, and it will stabilize in a range.
Thanks
originally posted by: projectvxn
a reply to: EternalSolace
But every percentage of a decline is another percentage toward normalization of PC components.
Once again, you have a one pie mentality.
And once again, it doesn't work that way.
Why does one thing have to disappear for another to flourish?
That's a lack of imagination that creates that mentality.
www.investopedia.com...
The core reason behind this efficiency is that the video processing GPUs are devised to do better in performing similar and repetitive work, than in performing diversified multi-tasking functions like those of the CPU. For example, rendering a 3D movie requires the GPU to keep processing similar kinds of information to the screen again and again, though with slight changes.
This is also used in machine learning and there's been an explosion in AI research that has made the demand for GPUs jump even higher.
It isn't just Bitcoin mining or mining in general that is causing the spike in GPU usage.
In The Era Of Artificial Intelligence, GPUs Are The New CPUs
Bitcoin mining is merely a symptom of an overall disease (for gamers) that will soon go away when the market catches up to demand for GPUs as our economy demands more and more complex calculations to be made.
originally posted by: projectvxn
a reply to: JinMI
I'm laser-focused on BTC and am very bullish on its performance this year.
Governments are about to face another debt bubble.
Bitcoin is immune and will likely be how I hang on to my buying power in the next 5 years.
No one learned # from the '08 bubble. They are still lending to irresponsible people and then that will turn into a whine fest when they go underwater upside-down on a house hardly worth the price tag.
Then there's the "Student loan crisis" where a bunch of idiots bought 100,000 dollar debt contracts for degrees that won't even bring in 25k per year...And the US Federal Government is on the hook for every penny.
All of this is going to put major pressure on the dollar. We may see a short period of deflation, but knowing the fed, the printing will ramp up and inflation will once again be the main concern.
originally posted by: Bluntone22
originally posted by: projectvxn
a reply to: Indigent
It's freedom from the global banking cartel.
C02 is not a good excuse to abandon that and you know it.
I agree it's going to be around for a while but I'm not going to risk my money.
I also dont like the idea of bit coin being so untraceable. That's an easy way for human trafficking and drug cartels to move money.
It's not ever going to be used in commercial transactions more so than now, it's at it's peak and only going backwards.
I mean, Valve used to take BTC payments, they stopped because it was so volatile.
With the news of one of the exchanges being locked out of a super large amount of money because the owner of the exchange died with the only encryption key -- people really see how little security BC is.
It's value is as phony as our money, it's security is worse, it's volatility is worse, it's risk is higher, stores that took them stopped = it's not better than dollars.
stores that took them stopped
It's always cute when people say things like "X currency is immune from Y currency failing" when it's not.
You fundamentally don't understand value, and even if another debt crisis comes, the purchasing power of a BTC, is still relative to the cost of purchasing it with "Y" currency.
but it won't be able to be cashed out
BTC can never be worth anything tangibly stable, it's very nature makes it volatile, which means it can only ever be used as a hedge and never as a currency.
Gold and silver last forever.
despite me explaining how it works.
originally posted by: projectvxn
a reply to: Bluntone22
Gold isn't usable currency
There will only ever be 21 million BTC. It is an inherently non-inflationary payment system.
When the dollar finally does eat it, BTC will be worth over $100,000 or more and you'll see just how real it really is.
originally posted by: projectvxn
a reply to: sligtlyskeptical
Scaling is the issue here.
There will never be enough gold to scale for exponential growth.
This is why we don't use the gold standard anymore.