Lol Grin is just for fun. Iām using spare parts for fun because I thought Grin was interesting. The razor thin profit margins on GPU or ASICS pale in comparison to the ease, simplicity and ROI of any middle-class or upper-middle-class job in America. Raven would yield $0.10 more a day per card than Grin or a whopping $40 at the end of the year, less than 2 minimum-wage hours working at McDonalds.
Iām pretty sure POW is a museum piece, an answer to your children asking, āDaddy, how did the FinTech revolution of the 2000s start?ā Youāll answer with Bitcoin, Ethereum and POW. These were obviously prototypes that cannot under any circumstances handle the economies and scales imagined for them. Cosmos/Cardano/EOS or some very high transaction, interoperable, smart-contract ready POS system will be the future reality. I think Cosmos, but one of those.
tl/dr if profit were a thought, I wouldnāt be mining! I just think cryptography and crypto is interesting. Iām pretty sure nobodies like me donāt benefit from societal changes, thatās only for the elite. If we replace fiat with crypto, the elites will still have all the money, and Iāll still be a surf, Iāll just owe the bank crypto instead of fiat. I just like math and programming, I have no delusions of social mobility.
The bitcoin whale that sold 200mil last night sinking us today so they could get the same amount of bitcoins for 15 million lower basis cost is a great example. When you can manipulate the market with 200million in the middle of the night any given day of the week, you and I with $1,000 or even with $500,000 can do literally nothing. Half a million is just 1/2% of 200million. Obviously, that person can make the market be whatever they want, and all the you and me-s put together donāt matter one bit. The same person could easily bribe your national politicians to obliterate your access to crypto if they didnāt see a way to profit. This isnāt really about political or economic change, but merely a watershed in the advance of financial technology. It may have some benefits for the most marginalized, but that possibility is not a priority in anyoneās mind who can genuinely make crypto āhappenā.
Greasily squeezing out ten cent profits from a graphic card so Jack of Twitter can get a gold lining on his barometric sleep chamber or more ferret-poop coffee seems like a chumpās game to me. Only the Chinese used to serving the emperor like a god could stomach this chump-deal. Seems desperate.
The elites require the house-negro to be convinced of his āspecialnessā enough to suppress his brothers and sisters. POW mining is the house-negro of crypto, surveying his little plantation fields with pride. I prefer the cyberpunk/anarchic movement from which bitcoin emerged. We donāt really need to support this economy or society - thereās nothing in it for us. I actually think bitcoin was made by the forces of control - to track and control everything. Checking out of the money economy completely is the real revolution, not enriching Jack or Justin.