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Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.

 
Anonymous Coward
User ID: 54910717
United States
11/24/2022 09:24 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
Mining consumes very large amounts of electricity.
Mining creates a very large carbon footprint.
Mining doesn't benefit anyone but the mining company.
 Quoting: Anonymous Coward 84810028


It's more complex than that. Any alternative consumes large amounts of electricity unless you want to go back to the barter system so the "Carbon footprint" argument is overplayed and weak. Mining benefits everyone by giving actual value to the currency which would otherwise be worthless. Proof of work (mining) cryptos are the only cryptos that hold any real value because they require an input of real world value to be created. All others cryptos (and paper money for that matter) are merely speculation, speculation creates large bubbles and large bubbles get people reckd. Mining cryptos creates a store of value similar to mining gold or silver, the main difference being that gold and silver is tangible and useful for things other than value transfer while cryptos are designed to do just that, and they do it well.
 Quoting: Anonymous Coward 54910717


you have just confused 'value transfer' with value
 Quoting: Anonymous Coward 81024225


With proof of work, value is transferred to the token with expectation the token retains that value by mining it. It is actually a good thing that generating these tokens or "coins" use a lot of electricity and requires hardware, that is one of their biggest selling points, they aren't just whipped up out of thin air. With paper money the only value it retains is that its paper, you can write on it, and no one writes on paper anymore. Of course you would expect paper to retain the value it costs to produce by cutting down forests and regrowing them since the paper is also proof of work, but the paper itself is actually more valuable before its paper, as a tree, the carbon footprint geniuses will all agree, we all lose in the process. With digital proof of work tokens such as bitcoin the amount of value it retains is equal to the amount put in, and since it is not inflationary in most cases, and in most cases deflationary, these digital assets can not only retain value but increase in value over time and we don't have to ruin the environment to do it. Green freaks should love crypto, but their brains don't function properly from consuming so many vegetables. Also, don't forget, electricity is a renewable resource that comes from our environment, we can essentially obtain it in endless quantities for free, though because it is proof of work, it retains the value of time and resources used to obtain it in large quantities by people who are either too stupid or too lazy to obtain it themselves. I could go on, but yea, they can transfer value just fine also.
Anonymous Coward
User ID: 54910717
United States
11/24/2022 09:27 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
Mining consumes very large amounts of electricity.
Mining creates a very large carbon footprint.
Mining doesn't benefit anyone but the mining company.
 Quoting: Anonymous Coward 84810028


It's more complex than that. Any alternative consumes large amounts of electricity unless you want to go back to the barter system so the "Carbon footprint" argument is overplayed and weak. Mining benefits everyone by giving actual value to the currency which would otherwise be worthless. Proof of work (mining) cryptos are the only cryptos that hold any real value because they require an input of real world value to be created. All others cryptos (and paper money for that matter) are merely speculation, speculation creates large bubbles and large bubbles get people reckd. Mining cryptos creates a store of value similar to mining gold or silver, the main difference being that gold and silver is tangible and useful for things other than value transfer while cryptos are designed to do just that, and they do it well.
 Quoting: Anonymous Coward 54910717


you have just confused 'value transfer' with value
 Quoting: Anonymous Coward 81024225


With proof of work, value is transferred to the token with expectation the token retains that value by mining it. It is actually a good thing that generating these tokens or "coins" use a lot of electricity and requires hardware, that is one of their biggest selling points, they aren't just whipped up out of thin air. With paper money the only value it retains is that its paper, you can write on it, and no one writes on paper anymore. Of course you would expect paper to retain the value it costs to produce by cutting down forests and regrowing them since the paper is also proof of work, but the paper itself is actually more valuable before its paper, as a tree, the carbon footprint geniuses will all agree, we all lose in the process. With digital proof of work tokens such as bitcoin the amount of value it retains is equal to the amount put in, and since it is not inflationary in most cases, and in most cases deflationary, these digital assets can not only retain value but increase in value over time and we don't have to ruin the environment to do it. Green freaks should love crypto, but their brains don't function properly from consuming so many vegetables. Also, don't forget, electricity is a renewable resource that comes from our environment, we can essentially obtain it in endless quantities for free, though because it is proof of work, it retains the value of time and resources used to obtain it in large quantities by people who are either too stupid or too lazy to obtain it themselves. I could go on, but yea, they can transfer value just fine also.
 Quoting: Anonymous Coward 54910717


I sort of went on a tangent at the end and jumbled my words but you get the point I think.
Anonymous Coward
User ID: 84810898
United States
11/24/2022 09:37 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
Mining consumes very large amounts of electricity.
Mining creates a very large carbon footprint.
Mining doesn't benefit anyone but the mining company.
 Quoting: Anonymous Coward 84810028


It's more complex than that. Any alternative consumes large amounts of electricity unless you want to go back to the barter system so the "Carbon footprint" argument is overplayed and weak. Mining benefits everyone by giving actual value to the currency which would otherwise be worthless. Proof of work (mining) cryptos are the only cryptos that hold any real value because they require an input of real world value to be created. All others cryptos (and paper money for that matter) are merely speculation, speculation creates large bubbles and large bubbles get people reckd. Mining cryptos creates a store of value similar to mining gold or silver, the main difference being that gold and silver is tangible and useful for things other than value transfer while cryptos are designed to do just that, and they do it well.
 Quoting: Anonymous Coward 54910717


you have just confused 'value transfer' with value
 Quoting: Anonymous Coward 81024225


With proof of work, value is transferred to the token with expectation the token retains that value by mining it. It is actually a good thing that generating these tokens or "coins" use a lot of electricity and requires hardware, that is one of their biggest selling points, they aren't just whipped up out of thin air. With paper money the only value it retains is that its paper, you can write on it, and no one writes on paper anymore. Of course you would expect paper to retain the value it costs to produce by cutting down forests and regrowing them since the paper is also proof of work, but the paper itself is actually more valuable before its paper, as a tree, the carbon footprint geniuses will all agree, we all lose in the process. With digital proof of work tokens such as bitcoin the amount of value it retains is equal to the amount put in, and since it is not inflationary in most cases, and in most cases deflationary, these digital assets can not only retain value but increase in value over time and we don't have to ruin the environment to do it. Green freaks should love crypto, but their brains don't function properly from consuming so many vegetables. Also, don't forget, electricity is a renewable resource that comes from our environment, we can essentially obtain it in endless quantities for free, though because it is proof of work, it retains the value of time and resources used to obtain it in large quantities by people who are either too stupid or too lazy to obtain it themselves. I could go on, but yea, they can transfer value just fine also.
 Quoting: Anonymous Coward 54910717


so my shovel really is worth $15,000?

.
Anonymous Coward
User ID: 54910717
United States
11/24/2022 09:40 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
...


It's more complex than that. Any alternative consumes large amounts of electricity unless you want to go back to the barter system so the "Carbon footprint" argument is overplayed and weak. Mining benefits everyone by giving actual value to the currency which would otherwise be worthless. Proof of work (mining) cryptos are the only cryptos that hold any real value because they require an input of real world value to be created. All others cryptos (and paper money for that matter) are merely speculation, speculation creates large bubbles and large bubbles get people reckd. Mining cryptos creates a store of value similar to mining gold or silver, the main difference being that gold and silver is tangible and useful for things other than value transfer while cryptos are designed to do just that, and they do it well.
 Quoting: Anonymous Coward 54910717


you have just confused 'value transfer' with value
 Quoting: Anonymous Coward 81024225


With proof of work, value is transferred to the token with expectation the token retains that value by mining it. It is actually a good thing that generating these tokens or "coins" use a lot of electricity and requires hardware, that is one of their biggest selling points, they aren't just whipped up out of thin air. With paper money the only value it retains is that its paper, you can write on it, and no one writes on paper anymore. Of course you would expect paper to retain the value it costs to produce by cutting down forests and regrowing them since the paper is also proof of work, but the paper itself is actually more valuable before its paper, as a tree, the carbon footprint geniuses will all agree, we all lose in the process. With digital proof of work tokens such as bitcoin the amount of value it retains is equal to the amount put in, and since it is not inflationary in most cases, and in most cases deflationary, these digital assets can not only retain value but increase in value over time and we don't have to ruin the environment to do it. Green freaks should love crypto, but their brains don't function properly from consuming so many vegetables. Also, don't forget, electricity is a renewable resource that comes from our environment, we can essentially obtain it in endless quantities for free, though because it is proof of work, it retains the value of time and resources used to obtain it in large quantities by people who are either too stupid or too lazy to obtain it themselves. I could go on, but yea, they can transfer value just fine also.
 Quoting: Anonymous Coward 54910717


so my shovel really is worth $15,000?

.
 Quoting: Anonymous Coward 84810898


Lol. Only if you use it to dig lots of holes.

damned
Anonymous Coward
User ID: 84810898
United States
11/24/2022 10:07 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
Mining consumes very large amounts of electricity.
Mining creates a very large carbon footprint.
Mining doesn't benefit anyone but the mining company.
 Quoting: Anonymous Coward 84810028


It's more complex than that. Any alternative consumes large amounts of electricity unless you want to go back to the barter system so the "Carbon footprint" argument is overplayed and weak. Mining benefits everyone by giving actual value to the currency which would otherwise be worthless. Proof of work (mining) cryptos are the only cryptos that hold any real value because they require an input of real world value to be created. All others cryptos (and paper money for that matter) are merely speculation, speculation creates large bubbles and large bubbles get people reckd. Mining cryptos creates a store of value similar to mining gold or silver, the main difference being that gold and silver is tangible and useful for things other than value transfer while cryptos are designed to do just that, and they do it well.
 Quoting: Anonymous Coward 54910717


you have just confused 'value transfer' with value
 Quoting: Anonymous Coward 81024225


With proof of work, value is transferred to the token with expectation the token retains that value by mining it. It is actually a good thing that generating these tokens or "coins" use a lot of electricity and requires hardware, that is one of their biggest selling points, they aren't just whipped up out of thin air. With paper money the only value it retains is that its paper, you can write on it, and no one writes on paper anymore. Of course you would expect paper to retain the value it costs to produce by cutting down forests and regrowing them since the paper is also proof of work, but the paper itself is actually more valuable before its paper, as a tree, the carbon footprint geniuses will all agree, we all lose in the process. With digital proof of work tokens such as bitcoin the amount of value it retains is equal to the amount put in, and since it is not inflationary in most cases, and in most cases deflationary, these digital assets can not only retain value but increase in value over time and we don't have to ruin the environment to do it. Green freaks should love crypto, but their brains don't function properly from consuming so many vegetables. Also, don't forget, electricity is a renewable resource that comes from our environment, we can essentially obtain it in endless quantities for free, though because it is proof of work, it retains the value of time and resources used to obtain it in large quantities by people who are either too stupid or too lazy to obtain it themselves. I could go on, but yea, they can transfer value just fine also.
 Quoting: Anonymous Coward 54910717


i see.

so a disposable diaper is worth more used because it exhibits "proof of work".

.
Butch DeFeo
The Great Bafflement commences...

User ID: 83141632
United States
11/24/2022 10:07 AM

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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.

DOCSRBAFFLEDredblueLEDDONTBEAPANDEMICS
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Itz The MonkeyPauxCommyUsurpPocalypse - Pronounced "MONKEY POE COMMY YOU SIR POCKA LIPS"
Butch DeFeo
The Great Bafflement commences...

User ID: 83141632
United States
11/24/2022 10:08 AM

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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
bccccc
DOCSRBAFFLEDredblueLEDDONTBEAPANDEMICS
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Itz The MonkeyPauxCommyUsurpPocalypse - Pronounced "MONKEY POE COMMY YOU SIR POCKA LIPS"
Anonymous Coward
User ID: 54910717
United States
11/24/2022 10:10 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
...


It's more complex than that. Any alternative consumes large amounts of electricity unless you want to go back to the barter system so the "Carbon footprint" argument is overplayed and weak. Mining benefits everyone by giving actual value to the currency which would otherwise be worthless. Proof of work (mining) cryptos are the only cryptos that hold any real value because they require an input of real world value to be created. All others cryptos (and paper money for that matter) are merely speculation, speculation creates large bubbles and large bubbles get people reckd. Mining cryptos creates a store of value similar to mining gold or silver, the main difference being that gold and silver is tangible and useful for things other than value transfer while cryptos are designed to do just that, and they do it well.
 Quoting: Anonymous Coward 54910717


you have just confused 'value transfer' with value
 Quoting: Anonymous Coward 81024225


With proof of work, value is transferred to the token with expectation the token retains that value by mining it. It is actually a good thing that generating these tokens or "coins" use a lot of electricity and requires hardware, that is one of their biggest selling points, they aren't just whipped up out of thin air. With paper money the only value it retains is that its paper, you can write on it, and no one writes on paper anymore. Of course you would expect paper to retain the value it costs to produce by cutting down forests and regrowing them since the paper is also proof of work, but the paper itself is actually more valuable before its paper, as a tree, the carbon footprint geniuses will all agree, we all lose in the process. With digital proof of work tokens such as bitcoin the amount of value it retains is equal to the amount put in, and since it is not inflationary in most cases, and in most cases deflationary, these digital assets can not only retain value but increase in value over time and we don't have to ruin the environment to do it. Green freaks should love crypto, but their brains don't function properly from consuming so many vegetables. Also, don't forget, electricity is a renewable resource that comes from our environment, we can essentially obtain it in endless quantities for free, though because it is proof of work, it retains the value of time and resources used to obtain it in large quantities by people who are either too stupid or too lazy to obtain it themselves. I could go on, but yea, they can transfer value just fine also.
 Quoting: Anonymous Coward 54910717


i see.

so a disposable diaper is worth more used because it exhibits "proof of work".

.
 Quoting: Anonymous Coward 84810898


If you find value in shit then sure. I would argue, as someone who has used diapers before, there is more value in an unused diaper though.

damned
Anonymous Coward
User ID: 84811597
United States
11/24/2022 10:26 AM
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Re: Coinmarketcap: For next 2 years it’s illegal to mine crypto in the state of New York.
This literally makes me want to set up a server farm in NY to mine crypto, and I hate crypto.





GLP