So isn’t this fraud? Is there a way to combat this in the world of crypto nonsense? I suspect no as the transactions are untraceable
I’ll just leave this here
Misnomer, it’s not anon, given you have to sell it somewhere, each transaction is traceable.
Each one of these boxes on the shelves (I’m guessing 8-10 boxes per shelf) is a dedicated ASIC-based bitcoin mining ‘GPU’, networked. Each miner is running 24/7 at full steam with enough equivalent GPU power that is several times more powerful than the latest/greatest PC GPU. There are thousands here on the shelves and this is one shelf stack in one ginormous mining warehouse that has hundreds of identical shelf rows.
The power needed is insane. But power in China is cheap(er) than most places. The issue is the source of that power. Solar, wind & water could only dream of keeping up with this sort of consumption, so Coal, Gas & Nuclear will be the main sources. It is absolutely mad.
But let’s look forward to the next Bitcoin halving event in 2024 where the value mined will be half of the current rate. Then there’ll be TWICE as much hardware needed to mine the same value
I’m meta-interested (and invested) with crypto, but some of the back-stories are very, very shocking.
Someone needs to have a word with whoever did that cabling
Other, cleaner, trunked-up mining farms are also available.
Morning all, new refugee from a recently-defunct Fintech forum
I’m UK-based and would like to invest/gamble £1000 in Bitcoin. I’m prepared to lose this if the worst comes to the worst. I’m a beginner in crypto and have looked at many reviews of trading platforms, apps, wallets, etc. and really none the wiser. Nearly all reviews appear to have a vested interest in what they are recommending and it seems very difficult to get an unbiased review.
Nearly all the app-based ones appear to have many negative reviews recently - bad customer service, apps crashing, double-payments, etc., so I’m wondering what people here would recommend. I’m happy just to buy some Bitcoin and leave it alone, although it might be useful at some point to actually be able to use it for purchasing, too.
What do you recommend?
If you have a account, be careful with crypto trading, but if you also have IFTTT account then you can link Monzo & Coinbase together in a strange way to save each time you sell crypto!
If you’re only interested in BTC I’d just use Revolut.
I used Revolut then ditched for coinbase as I believe you cannot actually store the Bitcoin you can only sell maybe wrong
I’ve got Coinbase for the majority of mine and then also Binance for ones that aren’t covered by Coinbase
What do you mean by that?
I’m using Coinbase, but does anybody else find their offering isn’t as large as it could be and also that their fees are quite high?
I’d happily move somewhere else, I just don’t know where to look.
You can only buy and sell, you cannot download to a wallet I believe, as mentioned could be wrong though
Ah okay. What’s the benefit of downloading to a wallet?
For me I’m happy for it to sit in my Revolut until I want to sell.
Security mainly and fully owning your crypto if you have your own wallet/ledger. If there hosted on revolut etc then any sorts of shady things could be happening with it and youd be none the wiser or more prone to being hacked.
Try Coinbase Pro. Significantly lower fees.
Incidentally, has anyone else here had difficulties linking their bank account with their Coinbase account? I can purchase crypto using my debit card and can withdraw to PayPal, but Coinbase refuses to let me link my Monzo, Starling or any other bank account. I can get to the verification transfer stage, but it’s never actually added to my account.
There’s a solution for this - I’ll DM you