Which is even sadder because Ethereum has always been a trash coin.
Tbf Bitcoin didn’t fuck with the GPU market, that was more etherium’s doing
SnotFlickerman@lemmy.blahaj.zone 21 hours ago
percent@infosec.pub 20 hours ago
Why? And which coins are good?
3abas@lemmy.world 19 hours ago
Ethereum formally introduced the concept of smart contracts, and they had serious potential for modernizing financial contracts and push back an entire predatory industry of leechers, but instead it was used to create meme-coins and scam coins and ruined it all.
It’s move to proof of stake instead of proof of work dramatically reduced its energy usage, and makes it a actually scalable, but the masses lost interest when they couldn’t just make money off a few GPUs and turned to the aforementioned shit-coins built on the Ethereum network.
Ethereum is not bad, it’s one of the better ones. It’s just kind of responsible for the explosion of shit/scam coins, because people are shitty scammers.
Kushan@lemmy.world 19 hours ago
The explosion of scam coins was basically inevitable, it’s what you get with zero regulation.
Wispy2891@lemmy.world 18 hours ago
The shitcoins were a thing also without ethereum, there was even a shitcoin generator website, pay 0.1 BTC (when it was worth like $100), upload your icon, choose the name, and download the compiled clients for mining that shit
Knock_Knock_Lemmy_In@lemmy.world 14 hours ago
the masses lost interest when they couldn’t just make money off a few GPUs and turned to the aforementioned shit-coins built on the Ethereum network.
Most of the shit meme coins are on Solana.
Blue_Morpho@lemmy.world 20 hours ago
Bitcoin trashed the GPU market before moving on to Asics. Then other coins kept going on GPUs.
Natanael@infosec.pub 11 hours ago
That was barely a year or two. Bitcoin wasn’t very popular globally speaking when the first ASICs already was in development, and in between the two there was FPGA mining
T156@lemmy.world 18 hours ago
Hasn’t bitcoin not been viable on GPUs for over a decade? Most of the cryptocurrency hype was mining other coins on GPUs, or using them to do blockchain calculations for NFTs and things.
YiddishMcSquidish@lemmy.today 19 hours ago
Til. I’ve only ever seen the application specific boards for Bitcoin.