Bitcoin isn‘t mined with GPUs. Todays bitcoin mines use ASICs. And no, the work miners do is not meaningless. Miners secure the bitcoin network, which is worth 1 trillion US$.
GPU mining is still incredibly profitable, as a GPU mining rig is easier to setup, and typically requires a lower initial investment than an ASIC or FPGA mining rig. As for your last part, they don't exactly secure the blockchain, they in a way /are/ the blockchain, as all transactions are processed via the miners. That said, I've been following bitcoin, and trading it since 2011, and find it's utility to be incredible. Though unfortunately in recent years it is becoming less, and less usable as more government intrusion is happening, and it's losing it's utility. It's essentially just a gigantic money machine for people to pump and dump. I honestly do like some of the other cryptos, where mining is actually utilized for something other than borderline useless calculations, or some of the cryptos that are privacy focused. But it still falls back onto shitty exchanges that sell user data, or report transaction history to government entities.
@@KuiperShaina Yes, GPU mining is still profitable, if you mine Ethereum, Monero or Zcash. It is not, if you try to mine Bitcoin with a GPU rig. Miners add blocks to the blockchain, which are then verified by all participants of the network (validating nodes). The government intrusion has nothing to do with Bitcoin. Governments intrude exchanges, which usually enable trading of many different cryptocurrencies (including Bitcoin).
This man has paper hands
This man has no hands
Cool! A video trying to portray itself as science using tons and tons of assumptions! Sounds like typical reddit propaganda to me.
Sorry really not trying to portray it as Science at all.
Bitcoin isn‘t mined with GPUs. Todays bitcoin mines use ASICs. And no, the work miners do is not meaningless. Miners secure the bitcoin network, which is worth 1 trillion US$.
GPU mining is still incredibly profitable, as a GPU mining rig is easier to setup, and typically requires a lower initial investment than an ASIC or FPGA mining rig. As for your last part, they don't exactly secure the blockchain, they in a way /are/ the blockchain, as all transactions are processed via the miners.
That said, I've been following bitcoin, and trading it since 2011, and find it's utility to be incredible. Though unfortunately in recent years it is becoming less, and less usable as more government intrusion is happening, and it's losing it's utility. It's essentially just a gigantic money machine for people to pump and dump.
I honestly do like some of the other cryptos, where mining is actually utilized for something other than borderline useless calculations, or some of the cryptos that are privacy focused. But it still falls back onto shitty exchanges that sell user data, or report transaction history to government entities.
@@KuiperShaina Yes, GPU mining is still profitable, if you mine Ethereum, Monero or Zcash. It is not, if you try to mine Bitcoin with a GPU rig. Miners add blocks to the blockchain, which are then verified by all participants of the network (validating nodes).
The government intrusion has nothing to do with Bitcoin. Governments intrude exchanges, which usually enable trading of many different cryptocurrencies (including Bitcoin).