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Old 24 January 2018, 10:17 PM
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E. Q. Taft E. Q. Taft is offline
 
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Default Nvidia pushing retailers to prioritize gamers over crypto miners in GPU sales

Without the mining process, cryptocurrency cannot exist. New tokens are found using the process of mining. The entire mining process is dependent on a PC with decent hardware.

As more and more crypto tokens get mined, the harder it gets to mine newer tokens. That explains the need for higher power machines. The ‘problem’ started arising when people found out that GPUs are much more efficient in mining than CPUs. This made the demand for GPUs to spike ever since and has caused multiple shortages.

https://factschronicle.com/nvidia-pu...ales-8826.html
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Old 25 January 2018, 05:58 PM
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The rise of computer gaming was a huge boon to scientific computing.

The rise of bit coin mining would be a huge boon to gaming (and scientific computing).
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Old 25 January 2018, 06:33 PM
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Computer

At it's base, doesn't all currency come from mining?



But when I read "cryptominers" I will now forever imagine Minecraft's Steve, with a pickaxe, trying to hit a computer
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Old 25 January 2018, 07:57 PM
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Mining or farming. US bills are linen and cotton.
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Old 25 January 2018, 08:33 PM
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Shells have also been used; and I think spices.

And I'm not sure that sea salt is mined, exactly.
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Old 25 January 2018, 09:05 PM
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Quote:
Originally Posted by thorny locust View Post
And I'm not sure that sea salt is mined, exactly.
Depends on if one is getting the salt from a current sea or from some ancient sea that deposited salt someplace now found on land.
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Old 29 January 2018, 12:48 PM
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Quote:
Originally Posted by GenYus234 View Post
Mining or farming. US bills are linen and cotton.
Made out of linen and cotton, but backed by goooooooolllllldddd!


Isn't that what Fort Knox and the whole Federal Reserve supposed to be?

ETA: Wouldn't a salt based economy be more of a barter system? I don't see someone just keeping the salt but not using it. But somesalt is mined.
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Old 29 January 2018, 01:11 PM
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It had been my impression that the Romans paid some wages in salt, thereby leading to the word "salary"; but when I went to check that, at least some sources said that the salary was an allowance to buy salt with, rather than a wage paid in the form of salt. So now I'm uncertain.

Salt would have some advantages as the sort of trade good that gets used as money -- it has actual value in use, everybody needs some, it can be divided easily into measures of a wide variety of sizes, in small to moderate quantities it's fairly easily portable, and it keeps forever, at least if not stored where it might dissolve. While in some areas it's common and fairly easy to get ahold of, in many areas it basically needs to be hauled in from elsewhere.

And the USA hasn't been on the gold standard in quite a while.
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Old 29 January 2018, 01:19 PM
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Quote:
Originally Posted by Alarm View Post
Made out of linen and cotton, but backed by goooooooolllllldddd!
Not since 1933 or 1971 (depending on how you define it). The US dollar is a fiat currency, backed by nothing but promises.

Quote:
Isn't that what Fort Knox and the whole Federal Reserve supposed to be?
The Federal Reserve is the group designated by Congress to carry out their Constitutional duty of borrowing money. Fort Knox stores the US gold supply, but you can't require gold as payment for a debt (1933), nor is the price of gold a fixed dollar amount (1971).

Quote:
ETA: Wouldn't a salt based economy be more of a barter system?
Depends on how widespread salt trading is and exactly how the purchase works. If when you buy something you have to check that the seller will take salt, then you'd have a barter system. If everyone in the US takes salt, and the seller has to check quantity and purity of your salt, then you'd have a commodity currency system. If you carry around salt certificates that can be exchanged for a fixed quantity of salt of stated purity, then you have a hard money system.
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