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#11
1st October 2017, 02:15 PM
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My NiceHash payouts have been quite low throughout the latest China FUD related crash. It's recovered nicely in the last few days though now that confidence in the markets seems to have returned.
It is astonishing when you consider the amount of energy worldwide that is being used for cryptocurrency mining ... and it'll probably increase greatly as time goes on. Although hopefully developments in technology will continue to bring more efficient GPUs and ASICs. That's a very good point about the traditional banking sector too. Hadn't thought of that. I bet that's an astronomical figure, if you add up the energy consumption of every bank and financial institution. Algorithms such as Poof of Stake (PoS) have of course been developed as a replacement for Proof of Work (PoW), aka mining. In many ways though I think PoW is still a better solution, despite the increasing amounts of energy it requires. It means that every mined coin costs hundreds or thousands of pounds to make, giving it real value, which is more than can be said for most fiat currencies.
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Mark ------------------------------------------------------ 2002 FE S8 Ebony Black Pearl ------------------------------------------------------  ------------------------------------------------------ Cars Owned: The Tesla Era: 2020 Model S Performance Ludicrous+ (present) (Black, with all black premium interior and carbon fibre décor, 21" sonic carbon twin turbine wheels and FSD capability) The Audi Era: '97 A8 4.2 (Ming Blue) --> '96 A8 4.2 QS (Dark Green) --> '02 FE S8 (present) The Citroen Era: '84 BX 1.6 RS --> '89 BX 1.9 DTR Turbo --> '94 XM 2.0L Turbo --> '96 XM 2.0L Turbo Exclusive --> '00 Xantia Activa 2.0L Turbo The Banger Era: '76 1.2L Lada VAZ-2101 (Ruski Fiat 124) --> '80 1.7L Morris Ital HL, finished in Ermine White and Rust 
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