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In most countries they are democratically elected , but voters have very little control over what the government actually does once it is in office. Even in Switzerland, with the very granular and direct democracy. Everyone I've talked to is very confident that GPU mining won't go obsolete. When ETH mining is no longer profitable, something else will take its place because the miners out there with hardware investments will switch to that and it'll gain momentum just like Eth did when Bitcoin became dominated by ASICs.
That's because neoliberals and new public management ideologues have spent the past decades gradually deconstructing government oversight over financial markets, thus removing them from democratic control. That shows how vulnerable democracy is to hostile ideologies if they manage to convince enough people, but this having happened isn't inherently the fault of democracy.
Legacy-ZA Naive. It obviously doesn't mean that democracy is infallible, nor that it doesn't need a lot of work to both defend, maintain and improve, but at least there's a basis to work from that has proven itself over time. Crypto has nothing to show for itself except a playground for the rich and massive fluctuations causing massive losses to small investors.
TheUn4seen They are not. In most democracies, party programmes are decided by members of the party through democratic processes within the party, and party membership is open to anyone wanting it. Pretty much anyone can also vote in general elections.
Of course you can't entirely know how the people you voted for will act in situations not present in the party programmes, nor what the outcome of various negotiations will be, but you should still be able to trust them to follow the lines of thought laid out in party programmes.
If not, then you really shouldn't be voting for them in the first place. And if your concerns aren't covered in party programmes, it's on you to work towards that changing. So, sorry, but they are democratically controlled. As for direct democracy, it isn't feasible in any community of significant size, both in terms of the sheer number of decisions necessary as well as the infeasibility of everyone being sufficiently informed to make an active choice in each case.
Dialogue and trust between the public, politicians and experts in relevant fields is the only way to maintain a practically functional form of democracy. Sadly that sounds likely. Money has no "real value" its just a piece of paper thats guaranteed to have a value in exchange for something that you want Damn, do I actually need to quote myself?
See above: Valantar money already exists, and is controlled by admittedly variously legitimate public institutions while also having near universal public support. That the value of money is arbitrary is obvious. What makes it real is societal acceptance and institutional support at massive scales.
Crypto has neither, and is unlikely to gain either in the foreseeable future. It can become money, but it isn't. Nope, even wikipedia got you covered: en. If you set socio-economic context as, say, prison, cigarettes can become money. Like it or not, it doesn't matter if there are "legitimate public institutions" backing it up or not. It matters if people accept it as payment.
Pretty sure cryptocurrency meets "verifiable record" part, "generally accepted" is debatable for now, though in certain contexts it's probably "yes". It all depends on how expensive it is, I can't imagine that one of these will cost less than K so it wont make any difference. These miners will have to be overwhelmingly more cost effective to make a dent in this market. Bitmain you cannot make money anymore.
Bitmain used to make miners for the single users back in the day. But now they only appeal to the huge investor crowd. If you notice they do not make any home miners anymore. Everything is V now and massive power requirements. It's all about Power to Profit ratios. Only doing about MH's but still makes about to dollars a month.
But of course Bitmain never made anything better. Colin Harper. Bitmain released a video for the new Antminer E9, which it claims will do the work of 32 graphics cards GPUs , the expensive processors typically coveted by PC gamers that are also used by miners to mine for ether and other coins.
The advertisement says the machines can produce up to 3 gigahashes per second the best GPUs produce roughly megahashes per second. Still, as evidenced by the E9 and other crypto ASICs, manufacturers have found ways around these limitations. As miners purchase these products , it underscores a tension between an Ethereum mining industry that is heavily invested in proof-of-work while its community and developers make moves toward a new network in Ethereum 2.
Mining sources tell CoinDesk they expect Ethereum mining activity to continue for at least a year following Ethereum 2. Updated April 27, , UTC: This article was updated to clarify that the most efficient ether-mining GPUs can produce nearly megahashes a second. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. During a shortened week in traditional markets, with U. For now, the hackers appear to be winning.
Q #4) What ASICs can mine Ethereum? Answer: The. crptocurrencyupdates.com › best-asic-miners. Bitmain's new Ethereum ASIC miner will be released later this year, in spite of Ethereum's pending switch to proof-of-stake. By Colin Harper.