In b4 “You wont make a profit”… i know, i want to use my computer to heat my apartment. i figure that even if i’m making a “loss” each month on the mining it’s still cheaper than running my apartments electric heaters when you account for the sold (or not) bitcoin.

I’ve been doing well keeping things warm by Folding at home on the CPU but apparently AMD GPUs aren’t supported for that and i want to put my GPU to work too.

I briefly mined some litecoin in like 2013/14 when BTC was just about popping off. other than that i have no mining experience (and i would have been using windows back then)

Need to sort something soon, Jan and Feb are probs the coldest months in the UK and i have gotten this far this year without using the heaters

  • AndrewZabar@lemmy.worldEnglish
    2·
    4 days ago

    Thanks! By your brief description of ethereum I can see why people consider it a pyramid scheme lol.

    • Nibodhika@lemmy.world
      2·
      4 days ago

      It’s not though, but people have used it to promote pyramid schemes so it gets the bad faith. It’s almost like considering e-mail to be spam, it’s not, even though a large chunk of emails are spam the rest is very useful.

      Ethereum can be used to represent ownership in a way that’s non-transferable by anyone other than the owner, this can have real life applications such as deeds for houses or car registrations. Someone noticed that another excellent application for this is art ownership, for example a token that represents a painting could be used by art collectors as a proof of authenticity, since only one person could be the owner of the token, and that person can prove that he owns the token, if the painting were to be stolen there’s a way to prove you’re the rightful owner. Someone heard that and convinced artists to sell art using those tokens without fully understanding what they were selling, and a bunch of people bought them without understanding what they were buying. Then they noticed that this would only work if others were onboard, so they tried to push it to other people, and eventually you had people who didn’t understand a thing paying thousands of dollars for a drawing of a monkey…

      Ethereum could be used for so many awesome things, but obviously we live in the awful reality where the biggest and most known application for it was used to scam people.