At first I thought those were the portable containment devices they used in Ghostbusters.
Saint_EDGEBOI
Really interesting how this came about. At the time there was a massive shortage of hardware, both GPU’s, which are mostly used in high end computers, and ASIC miners (Algorithm Specific Integrated Chip). China is still heavily reliant on Coal and energy rates are quite cheap. At some point the Chinese discovered a mining business model was quite lucrative and it really took off. You’d see many videos of warehouses filled with mining equipment. However, the demand became too much for the grid to handle so the Chinese government stepped in and shut it down. Banned Bitcoin and introduced (or are now developing? Not sure, can’t find the info) their own form of digital currency. All of a sudden you have a super squeezed hardware market where old equipment is selling for easily double value, it gets flooded with used equipment. Kinda eased the supply issue for a while but people were afraid to buy them because who knows what conditions they were being run in.
FestiveVat
Who thought being able to conjure money from nowhere using computer hardware was a good idea? Oh yeah — libertarians, the people trying to bring us further into a cyberpunk dystopia when they’re not trying to bring us into a mad max apocalypse.
Valuable_Card
Can I have 2 for me to mine?
netl
man. It actually hurt the fucking planet
mcmanybucks
I hope the people in charge of this go completely bankrupt.
captmotorcycle
Good
CarpetPedals
This is how the market gets flooded with Antminers. Looks like the older S9 machines.
BrightPerspective
That’s what Hong Kong used to be for: all the businesses and expats the CCP didn’t want around, but still wanted to tax. Then the fools choked the last few eggs out of that golden goose, so maybe try Taiwan?
10 Comments
Wow.
At first I thought those were the portable containment devices they used in Ghostbusters.
Really interesting how this came about. At the time there was a massive shortage of hardware, both GPU’s, which are mostly used in high end computers, and ASIC miners (Algorithm Specific Integrated Chip). China is still heavily reliant on Coal and energy rates are quite cheap. At some point the Chinese discovered a mining business model was quite lucrative and it really took off. You’d see many videos of warehouses filled with mining equipment. However, the demand became too much for the grid to handle so the Chinese government stepped in and shut it down. Banned Bitcoin and introduced (or are now developing? Not sure, can’t find the info) their own form of digital currency. All of a sudden you have a super squeezed hardware market where old equipment is selling for easily double value, it gets flooded with used equipment. Kinda eased the supply issue for a while but people were afraid to buy them because who knows what conditions they were being run in.
Who thought being able to conjure money from nowhere using computer hardware was a good idea? Oh yeah — libertarians, the people trying to bring us further into a cyberpunk dystopia when they’re not trying to bring us into a mad max apocalypse.
Can I have 2 for me to mine?
man. It actually hurt the fucking planet
I hope the people in charge of this go completely bankrupt.
Good
This is how the market gets flooded with Antminers. Looks like the older S9 machines.
That’s what Hong Kong used to be for: all the businesses and expats the CCP didn’t want around, but still wanted to tax. Then the fools choked the last few eggs out of that golden goose, so maybe try Taiwan?