Comment on Cryptominers target AMD Ryzen 9 7950X CPU, up to $3 per day profit
FuckyWucky@hexbear.net 8 months ago
That is total dogshit. It would take 6 months to break even assuming no power costs.
And the fact that gpu mining is unprofitable shows how the current crypto “boom” is faker than 2021.
AHemlocksLie@lemmy.zip 8 months ago
Hackers don’t have to break even. They use your hardware and your electricity and take all the revenue while you take all the costs.
GPU mining has been unprofitable for years now. It was only kept afloat by Ethereum, but that went proof-of-stake. Its been unprofitable in Bitcoin for ages now, since like… Early to mid 2010s. Ever since the rise of ASICs, GPU mining has been a great way to light cash on fire. I don’t think GPU mining will ever be substantially profitable again. If it ever does, I think an ASIC can be built for any algorithm if it’s profitable enough to do so.
It seems counter intuitive, but I think mining is going to remain an important aspect of cryptocurrencies. It burns energy, but I think it will help keep the game theory appropriately balanced for all actors in system.
FuckyWucky@hexbear.net 8 months ago
yes but hackers have to use existing cpus, they can’t buy new ones so it’s unlikely to push up cpu prices.