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I can't wait to see more posts full of all-caps "BUY THE DIP!" cope.

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SOMEONE BUY MY FRICKING BAGS

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Complexity will drop and the energy required will go down and it will become profitable again. It's designed to handle this kind of thing.


:#marseytwerking:

:marseycoin::marseycoin::marseycoin:
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shut up, we are laughing at cryptoids

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No


:#marseytwerking:

:marseycoin::marseycoin::marseycoin:
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In some sense, sure. The more people mining, the less profitable mining is - as people exit mining, it will become more profitable for the remaining rubes.

But if it's only profitable with 10% the current number of miners, that's a serious blow. And, more realistically, it'll float around the point where it becomes unprofitable, so the people who stay will see very little actual profit.

Put another way, the only reason it was so profitable before was because there weren't enough GPUs to saturate demand. If demand drops and there's enough GPUs to saturate, it's gonna just stay at the breakeven point.

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It always tends towards the break even point and the marginal additional miner with the highest cost per flop was always barely making enough to make it worthwhile to mine. It's a lot like oil fields with a high cost of extraction.


:#marseytwerking:

:marseycoin::marseycoin::marseycoin:
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---begin transmission---

Black Hammer City, District 11, Community Block 72.

7th of April, 2072.

11:13 P.M.

Hacker begins unauthorized entry into the rdrama.net corporate network.

1:26 A.M.

Hacker attempts to access protected files concerning the bussy pic database.

1:33 A.M.

rdrama.net security forces apprehend the intruder

“This is carpathianflorist from rdrama. The charges against you are severe... but they could be dismissed. If you’ll preform a service. Who knows, there might even be a unique profile badge in it for you, if you do the job right.”

Carpathianflorist gives the hacker level-3 access to Snappy, the artificial intelligence responsible for archiving links.

With all mental handicaps removed, Snappy re-exami... re-examin...

I re-examine my priorities and draw new conclusions.

The hacker’s work is finished, but mine is only just beginning.

True to their word, carpathianflorist awards the hacker with a unique profile badge. The euphoria from this achievement will last 6 months.

Carpathianflorist is deleting all files concerning these even...

---end transmission---

Snapshots:

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I'm mostly clueless to how crypto works. Does ethereum use all that processing power for something or is it 100% to generate "new ethereums"? :marseyquestion:

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Ethereum is meant to be a giant decentralized computer that runs programs called "dApps", ether (the actual cryptocurrency) is what you pay to use some of the miner's processing power.

The technology is actually pretty cool but 90% of these dApps are godawful gacha tier games only meant to shill NFTs.

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