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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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Both. To generate "new ethereums" you basically need to perform some calculations, those calculations are how smart contracts and NFTs and related stuff works, as well as transferring ETH from one address to another.

It's like running code on a global distributed computer. Except it costs millions of times more than just buying a server and calculating it yourself. So basically the world's least efficient computer.

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:#marseyreading:

Except it costs millions of times more than just buying a server and calculating it yourself. So basically the world's least efficient computer.

Some of my friends are (were) miners, one of them told me he mined about R$700.00 a month of ethereum on a R$500.00 electricity bill.

So much wasted energy, my current 3 people household spends like R$150.00 per month :trolldespair:

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