I’m sorry you are being outbid by another guy who wants to mine with a graphics card, but who are you to say that guy securing a censorship resistant and decentralized monetary system is less legit than your leisure time amateur rocket league tournament?
If the owner uses it to train a ML model? Is that legit then? Or can general purpose GPUs only be single purpose for games. For gamers?
I think my position is well known. I am not the first person to argue that cryptocurrencies are negative because they generate waste by design and are a technical solution to social/meatspace problems. I personally don't really need a GPU right now (lucky for me I can probably hold off a couple more years), but I am pretty concerned about the future of the planet in general and have some increased existential dread and angst arising from the fact that we are finding new and exciting ways to accelerate global warming.
We can just dispense with the part of the discussion where we argue about why we think it is or isn't legitimate and just agree that we have mutually incompatible world views.
Our views are mutually incompatible, but only one of us is correct. :-) time, the universal currency, will be the final arbiter.
I do hope it works out for humanity tho, maybe we are alone in the universe and we are squandering the most unique and precious outcome of random chance, life.
Also, censorship resistant? Tell that to people having their accounts on the "decentralised" money system being banned for using crypto that's gone through a mixer.
The public blockchain makes censoring a given user even easier, because your transaction log is public knowledge.
I always loved this one. Magic The Gathering Online: Exchange.
No, that's not a joke, the owner took a pre-existing website for trading Magic cards and turned it into a crypto exchange. And no, that's not a typo, it's not "Magic The Gathering: Online Exchange", they weren't even trading the real cards, they were virtual cards for the game Magic The Gathering: Online.
It never actually sold cards. That was the original plan, but Satoshi’s invention changed the scope a little.
They also got robbed before they opened to the public, were insolvent for all their life, found a sucker to take the blame (who did serve time), then founded another shitcoin, fell out with the others, founded another shitcoin.
Or what about that guy finalizing their crypto rug pull? There are just too many bad actors in the crypto community. Most of it seems to be scams and over hyped coins that are completely useless.
Don’t disagree with you. But none of that has anything to do with folks doing PoW to secure a ledger. Infrastructure providers can’t really be blamed for the bandits. Nobody likes thieves, and Bitcoin specifically limits the power of the biggest ones.
If the owner uses it to train a ML model? Is that legit then? Or can general purpose GPUs only be single purpose for games. For gamers?