Investments are what you make them. If a bunch of immature clout seakers on reddit are getting involved then it's not going to be a good investment for quite a bit.
But knocking something that is politically necessary because some morons boosted and crashed it is silly. We cannot let them continue to print money because these people want to kill us and when the people who want you exterminated can print money out of thin air your chances are zero. We should have a motto of anything but USD because until we adopt it we are fucked. Volatility is a cost of doing the right and necessary thing. You can reduce it by using gold backed crypto instead of the regular kind.
You can reduce it by using gold backed crypto instead of the regular kind.
Crypto with an intrinsic value other than being traded for fiat definitely could have some promise. The issue is, big banks with an unlimited money printer can easily manipulate any asset including gold. Most of the world's easily extractable gold has been mined and is already in the hands of the world's controlled banks.
They can't manipulate other assets with their money printer if what comes out of it is worthless trash. That's why we need to stop valuing USD. Also if they are going to manipulate gold by printing USD then in the long run they are going to promote gold verses USD. They might be able with the largess they owe to that printer have the resources to temporarily crash it but the long run would be different if they tried to use a USD printer to promote the value of USD over gold. It's just not going to work.
It's not a scam, it's a way to move money, which is what gives it its inherent value, no different than any other commodity. The mining of coins was artificially boosting its value due to the energy the miners were consuming in generating the coins. Those graphics cards are quite thristy with the electron juice.
You do know that miners don't actually boost value. Cost basis of value is bullshit. The value of crypto is the degree to which people desire it as an alternative to USD.
Also additional miners don't offer their network any additional utility. The blockchain behaves the same if it has 200 miners or 20000. This is why the crypto community needs to focus less on encouraging people to mine and apply more focus on encouraging people to write software to integrate it into more real businesses. Purchasing utility is pretty much the only thing that will make crypto go up. That and if it helps people shield themselves from these new taxes.
It doesn't help that there is a huge wing of people who knock down anything that will reduce fees. Probably because we encouraged too many people to mine.
You underestimate the energy being poured into these mining operations and the ramifications they had with the global energy market. We are feeling the effects of that prodigious energy consumption a year later.
[ - ] x0x7 1 point 1.7 yearsAug 28, 2022 16:23:33 ago (+1/-0)
No. I understand what sunk cost is and know that cost doesn't effect value unless cost inhibits supply. The same number of coins come out in any case so cost is irrelevant to price.
What crypto has more coins minted when it has more miners. Bitcoin in particular has zero minting currently. Ethereum tries to keep it constant over time just as bitcoin did. If they produced more coins, as you claim, wouldn't that dilute the value of each one? How did they boost the price?
Market cap is basically a synonym for price. I'm saying they did not impact the price and your only evidence is basically saying yes they did.
I think you are mistaken in thinking that miners produce value. On the margin they do not. The existence of a pool of miners produces value because as long as it exists a blockchain is secure. But no additional miner produces value. You are thinking that all the additional miners produced more value for the chain and so the price was boosted. But they didn't.
Miners, and the chinese policy of stopping miners had a big effect in 2020 trailing in to 2021, things are leveling out now because the miners have been curbed. Notice the sharp dip in price once they put a stop on the coin mining operations in china.
Remember, the value of the coins is that it lets you move large amounts of money with less oversight that moving dollars or exchanging currencies or large amounts of metal.
Wouldn't this be admitting they have been price gouging the whole time with GPU prices? I understand GPUs are really a necessity and may not fall into the category of immoral price gouging but still.
They don't care about gamers, there's bigger fish to fry. Wallstreet owns you and that's the graphics cards biggest customers. GPU's are great at running AI, the AI that big energy pays big bucks for in order to drill drill drill. Is it any surprise that the biggest stockholders in all tech companies are wall street mega conglomerates? Stock traders are being made obsolete, another group to join the plebs selling hot dogs on the corner.
I mean it's kind of silly to invest without AI. You want to do technical analysis. AI will beat any human at pattern recognition and its model development is empirical and so it won't develop an eye for false patterns and will tune the parameters and thresholds to any true pattern perfectly.
Want to use fundamentals? AI can take in more information and develop an understanding of how one factor interacts with another.
Want to read the news and get ahead of people's psychology? AI can read now. Not only can it read the news but it can read the comments section of reddit and know what peoples opinions on relevant topics are in real time.
Maybe it's not doing that last one yet but you should be sure someone's working on it.
Boost it, yes, beat it, hardly, self driving cars are utter dog shit, that's largely AI driven, pun intended. There are things that AI does really well, but as far as having enough experience to display intuition, humans have that over AI in spades.
Iteration however, AI has us beat 6 ways from sunday. AI has improved material science and design, and like you said tech analysis is something AI excels at because it's really good at iterating. It isn't very creative though, that takes a human touch.
[ - ] x0x7 1 point 1.7 yearsAug 28, 2022 19:51:32 ago (+1/-0)
That's because computer vision isn't great and ironically computer based planning sucks when in the real world. Those are the two things humans are actually tuned for. Making sense of a squiggly line, and making decisions where only one priority is a factor, make profit, that's stacked in the other direction.
AMD has more sense than NVIDIA, but their current crop of GPU's aren't great at ray tracing, next gen will be. It's almost like AMD doesn't care because this was a stop gap generation. Their cards never really went far over MSRP. That ray tracing processor is also really good at doing AI. In this Nvidia's thingy is more advanced than AMD by about 5 years worth of development. But it's easy for them to catch up, on the next gen cards.
[ - ] Cunt 0 points 1.7 yearsAug 29, 2022 01:19:53 ago (+0/-0)
I imported a present for my kid from overseas for $120 total, only for it to become available locally a couple of days before the birthday for only $60. Feels bad man. But the kid loves it so who cares.
They were inflated to holy fuck, the prices have slowly trended downwards, when they realized that they weren't moving cards. The cards were good at mining coins, but china and the card makers put a stop to that, too much energy was being pumped into the system. There are other implications involved, beyond the breadth of this post. Suffice to say AI, energy, bit/shitcoins, and the stock market have all be shaken up by the latest batch of graphics cards, and GPU technology.
[ + ] NemesisPrime
[ - ] NemesisPrime 0 points 1.6 yearsOct 8, 2022 10:45:20 ago (+0/-0)
[ + ] TardWhisperer
[ - ] TardWhisperer 4 points 1.7 yearsAug 28, 2022 11:40:42 ago (+5/-1)
[ + ] HeyJames
[ - ] HeyJames 1 point 1.7 yearsAug 28, 2022 14:16:10 ago (+1/-0)
[ + ] x0x7
[ - ] x0x7 2 points 1.7 yearsAug 28, 2022 16:03:50 ago (+2/-0)
But knocking something that is politically necessary because some morons boosted and crashed it is silly. We cannot let them continue to print money because these people want to kill us and when the people who want you exterminated can print money out of thin air your chances are zero. We should have a motto of anything but USD because until we adopt it we are fucked. Volatility is a cost of doing the right and necessary thing. You can reduce it by using gold backed crypto instead of the regular kind.
[ + ] HeyJames
[ - ] HeyJames 0 points 1.7 yearsAug 28, 2022 16:10:42 ago (+0/-0)
Crypto with an intrinsic value other than being traded for fiat definitely could have some promise. The issue is, big banks with an unlimited money printer can easily manipulate any asset including gold. Most of the world's easily extractable gold has been mined and is already in the hands of the world's controlled banks.
[ + ] x0x7
[ - ] x0x7 0 points 1.7 yearsAug 28, 2022 16:18:49 ago (+0/-0)
[ + ] reptillian
[ - ] reptillian 1 point 1.7 yearsAug 29, 2022 01:00:18 ago (+1/-0)
[ + ] usedoilanalysis
[ - ] usedoilanalysis 0 points 1.7 yearsAug 28, 2022 14:36:18 ago (+0/-0)
[ + ] x0x7
[ - ] x0x7 3 points 1.7 yearsAug 28, 2022 16:08:58 ago (+3/-0)*
Also additional miners don't offer their network any additional utility. The blockchain behaves the same if it has 200 miners or 20000. This is why the crypto community needs to focus less on encouraging people to mine and apply more focus on encouraging people to write software to integrate it into more real businesses. Purchasing utility is pretty much the only thing that will make crypto go up. That and if it helps people shield themselves from these new taxes.
It doesn't help that there is a huge wing of people who knock down anything that will reduce fees. Probably because we encouraged too many people to mine.
[ + ] usedoilanalysis
[ - ] usedoilanalysis 1 point 1.7 yearsAug 28, 2022 16:15:51 ago (+1/-0)
[ + ] x0x7
[ - ] x0x7 1 point 1.7 yearsAug 28, 2022 16:23:33 ago (+1/-0)
https://memecreator.org/static/images/memes/5493681.jpg
[ + ] usedoilanalysis
[ - ] usedoilanalysis 1 point 1.7 yearsAug 28, 2022 16:31:29 ago (+1/-0)
The miners were affecting the number of coins and market cap.
[ + ] x0x7
[ - ] x0x7 0 points 1.7 yearsAug 28, 2022 16:42:03 ago (+0/-0)
Market cap is basically a synonym for price. I'm saying they did not impact the price and your only evidence is basically saying yes they did.
I think you are mistaken in thinking that miners produce value. On the margin they do not. The existence of a pool of miners produces value because as long as it exists a blockchain is secure. But no additional miner produces value. You are thinking that all the additional miners produced more value for the chain and so the price was boosted. But they didn't.
[ + ] usedoilanalysis
[ - ] usedoilanalysis 0 points 1.7 yearsAug 28, 2022 16:50:11 ago (+0/-0)
Remember, the value of the coins is that it lets you move large amounts of money with less oversight that moving dollars or exchanging currencies or large amounts of metal.
[ + ] deleted
[ - ] deleted 0 points 1.7 yearsAug 28, 2022 15:28:15 ago (+0/-0)
[ + ] 9000timesempty
[ - ] 9000timesempty 1 point 1.7 yearsAug 28, 2022 16:04:32 ago (+1/-0)
[ + ] x0x7
[ - ] x0x7 1 point 1.7 yearsAug 28, 2022 16:44:42 ago (+1/-0)
[ + ] Swej_Ehtsag
[ - ] Swej_Ehtsag 1 point 1.7 yearsAug 28, 2022 14:16:53 ago (+1/-0)
[ + ] usedoilanalysis
[ - ] usedoilanalysis 1 point 1.7 yearsAug 28, 2022 14:39:04 ago (+1/-0)
[ + ] x0x7
[ - ] x0x7 2 points 1.7 yearsAug 28, 2022 16:32:44 ago (+2/-0)*
Want to use fundamentals? AI can take in more information and develop an understanding of how one factor interacts with another.
Want to read the news and get ahead of people's psychology? AI can read now. Not only can it read the news but it can read the comments section of reddit and know what peoples opinions on relevant topics are in real time.
Maybe it's not doing that last one yet but you should be sure someone's working on it.
[ + ] usedoilanalysis
[ - ] usedoilanalysis 1 point 1.7 yearsAug 28, 2022 19:30:32 ago (+1/-0)
Boost it, yes, beat it, hardly, self driving cars are utter dog shit, that's largely AI driven, pun intended. There are things that AI does really well, but as far as having enough experience to display intuition, humans have that over AI in spades.
Iteration however, AI has us beat 6 ways from sunday. AI has improved material science and design, and like you said tech analysis is something AI excels at because it's really good at iterating. It isn't very creative though, that takes a human touch.
[ + ] x0x7
[ - ] x0x7 1 point 1.7 yearsAug 28, 2022 19:51:32 ago (+1/-0)
[ + ] RedBarchetta
[ - ] RedBarchetta 1 point 1.7 yearsAug 28, 2022 12:45:56 ago (+1/-0)
I hope they come back to reality. 8GB should be $300 NOT $1600
[ + ] usedoilanalysis
[ - ] usedoilanalysis 0 points 1.7 yearsAug 28, 2022 14:42:23 ago (+0/-0)
[ + ] 86USSLiberty
[ - ] 86USSLiberty 1 point 1.7 yearsAug 28, 2022 12:08:03 ago (+1/-0)
[ + ] GhostCow
[ - ] GhostCow [op] 1 point 1.7 yearsAug 28, 2022 12:17:54 ago (+1/-0)
[ + ] 86USSLiberty
[ - ] 86USSLiberty 2 points 1.7 yearsAug 28, 2022 12:48:50 ago (+2/-0)
[ + ] Cunt
[ - ] Cunt 0 points 1.7 yearsAug 29, 2022 01:19:53 ago (+0/-0)
[ + ] deleted
[ - ] deleted 1 point 1.7 yearsAug 28, 2022 12:52:59 ago (+1/-0)
[ + ] usedoilanalysis
[ - ] usedoilanalysis 0 points 1.7 yearsAug 28, 2022 14:33:58 ago (+0/-0)
[ + ] shitface9000
[ - ] shitface9000 1 point 1.7 yearsAug 28, 2022 12:07:16 ago (+1/-0)
[ + ] Centaurus
[ - ] Centaurus 0 points 1.7 yearsAug 28, 2022 12:16:56 ago (+0/-0)
[ + ] Clubberlang
[ - ] Clubberlang 0 points 1.7 yearsAug 28, 2022 21:48:57 ago (+0/-0)
[ + ] Equalizer
[ - ] Equalizer 0 points 1.7 yearsAug 28, 2022 12:57:44 ago (+0/-0)
the original MSRP rip-off price.
jew much??
[ + ] usedoilanalysis
[ - ] usedoilanalysis 0 points 1.7 yearsAug 28, 2022 11:37:14 ago (+0/-0)
They did this to themselves, don't feel sorry for these companies and their trillionaire owners.
[ + ] mikenigger
[ - ] mikenigger -1 points 1.7 yearsAug 28, 2022 12:26:31 ago (+0/-1)
[ + ] deleted
[ - ] deleted 1 point 1.7 yearsAug 28, 2022 12:53:52 ago (+1/-0)
[ + ] usedoilanalysis
[ - ] usedoilanalysis 1 point 1.7 yearsAug 28, 2022 14:33:23 ago (+1/-0)