CryptoCurrency Mining with GPUs *spawn*

Discussion in 'Architecture and Products' started by CarstenS, Jun 1, 2017.

  1. digitalwanderer

    digitalwanderer Dangerously Mirthful
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    I hope you got out ahead and before the crash! Knowing you, you did. :)
     
  2. pharma

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    Razer SoftMiner uses your GPU to mine cryptocurrency
    https://www.guru3d.com/news-story/razer-softminer-uses-your-gpu-to-mine-cryptocurrency.html

     
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  3. digitalwanderer

    digitalwanderer Dangerously Mirthful
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  4. ToTTenTranz

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    This is Razer basically scamming their users for mining crypto for the company, practically for free.

     
  5. entity279

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    everybody though is speculating based on that 500 coins/day number. Is there a projected income for any video card provided?
    (of course, i'm not expecting this to be a good deal either way)
     
  6. ToTTenTranz

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    The 500 coins/day number comes from Razer's own page. I'd guess that's an upper limit and since they don't even explain how their "silver" translates from what, there's even a chance that Razer truncates the daily earnings.
    The silver earnings could even be completely unrelated to performance and stuck to a simple timer for whenever the app is running, for all we know.

    In the meantime, people figured out their "softminer" is nothing but nicehash running for Razer's own wallets.
    Which of course makes it even more difficult to know how much "money" each user is making at any given time.


    It's a predatory scam. Their customers will be spending loads on the power bill and wearing down their hardware. And the reward is some "razer points" that people could theoretically trade in for peripherals but in practice most won't be able to because the points can't accumulate for more than a year.
     
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  7. entity279

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    I guess it's not an upper limit.

    But I already read that, and that's precisely why I posted - just as a remark, to point out that people had been taking that random number provided by Razer too far in making too many calculations
     
  8. pharma

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    HSBC settles FX deals worth $250 billion on blockchain in last year

    https://www.reuters.com/article/uk-...lion-on-blockchain-in-last-year-idUSKCN1P823Z
     
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  9. green.pixel

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  10. milk

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    You mean, those huge criminal organizations that exist primarily thanks to government naive or sometimes just plain Machiavellian interventions?
     
  11. green.pixel

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    Drug trade and terrorists keep footing the bill for the Real Government™.
     
  12. Gubbi

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    No he said drug cartels and terrorists, not banks

    Cheers
     
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  13. pharma

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    $137 milllion Worth of QuadrigaCX’s Customers’ Bitcoin Stuck in The Abyss
    February 3, 2019
    https://latesthackingnews.com/2019/...rigacxs-customers-bitcoin-stuck-in-the-abyss/
     
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  14. BRiT

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    Reddit and other places are going over that story. It sure seems like the typical "bitcoin exit strategy" for the company.
     
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  15. Rootax

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    So, one guy in the company had access to some stored assets (wallets). It was encrypted (good), the guy died (it's a sad story), and now nobody can access it ? Is that right ?

    How the hell is this possible ? It's not a security incident at this point... The security worked. Problem is, it was not adapted at all for money stuff...
     
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  16. digitalwanderer

    digitalwanderer Dangerously Mirthful
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    Are you using the term "bitcoin exit strategy" to imply foul play or a scam? I hate to be so stupid, but I really ain't sure. I stopped following crypto a while back, sort of surprised it's still a thing. LOL
     
  17. BRiT

    BRiT (╯°□°)╯
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    Scam/Foul play, its all the same in bitcoin.

    The company has a long list of people unable to withdraw funds but has no problems accepting deposits. People are questioning the legitimacy of the death. Conspiracy theories and all that.
     
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  18. BRiT

    BRiT (╯°□°)╯
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    Tidbits from ArsTechnica article / comments https://arstechnica.com/information...nder-takes-passwords-to-the-grave/?comments=1

    The affidavit was filed Thursday by Jennifer Robertson, widow of QuadrigaCX’s sole director and officer Gerry Cotten. Robertson testified that Cotten died of Crohn’s disease in India in December at the age of 30.

    ...

    The guy had the foresight to write a will 2 weeks before dying but not to handle the wallet situation? And then he goes off to die in India while the money is technically not accounted for... Nothing suspicious.

    ...

    If I had a large sum in this crypto wallet, I would sure as hell want to see the body. It is very rare to die directly of Crohn's disease, and if he was so sick as to be obviously terminal, why did he go off to India? And make a will, but leave no way for his nearest and dearest or any business partner to enable his trusting customers to get their money back? This screams scam, and I would lay odds that if anyone does decrypt the wallet, assuming there is one on that laptop at all, it will have a lot less than $115MM in it.

    ...

    For those not familiar with how cryptocurrency exchanges work, this is called an exit scam, and is the normal intended end state of crypto exchanges:

    https://en.wikipedia.org/wiki/Exit_scam

    'An exit scam is a confidence trick where an established business stops shipping orders while continuing to receive payment for new orders. If the entity had a good reputation, then it can take some time before it is widely recognized that orders are not shipping, and the entity can then make off with the money paid for unshipped orders. Customers that trusted the business don't realize that no orders are being fulfilled until the business has already disappeared.'

    So what this story simply means is that everything is working as intended.

    ...

    But speaking as someone with Crohn's AND who lives in British Columbia too, you aren't going to get better care in India than you are in Vancouver. I can see going to some of the US centers if you want to burn money, but the care isn't going to be much better.

    Also, something no one had addresses yet in the thread... if he had such severe Crohn's that he died from it, he wouldn't want to be 5 minutes away from a washroom, let alone flying on a ~18 hour flight.

    Definitely something fishy
     
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  19. BRiT

    BRiT (╯°□°)╯
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    I am not surprised by this at all.





    https://medium.com/@zeroresearchpro...ysis-report-pt-1-bitcoin-wallets-19d3a375d389

    Brief Summary of Findings
    Below are the findings made by the author of this report:

    1. It appears that there are no identifiable cold wallet reserves for QuadrigaCX.
    2. It appears that QuadrigaCX was using deposits from their customers to pay other customers once they requested their withdrawal.
    3. It does not appear that QuadrigaCX has lost access to their Bitcoin holdings.
    4. It appears the number of bitcoins in QuadrigaCX’s possession are substantially less than what was reported in Jennifer Robertson’s (wife of allegedly deceased CEO and Owner Gerry Cotten) affidavit, submitted to the Canadian courts on January 31st, 2019.
    5. At least some of the delays in delivering crypto withdrawals to customers were due to the fact that QuadrigaCX simply did not have the funds on hand at the time. In some cases, QuadrigaCX was forced to wait for enough customer deposits to be made on the exchange before processing crypto withdrawal requests by their customers.
    6. After completing the analysis, it is the author’s opinion that QuadrigaCX has not been truthful with regards to their inability to access the funds needed to honor customer withdrawal requests. In fact, it is almost impossible to believe that this is the case in lieu of the empirical evidence provided by the blockchain.
     
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  20. digitalwanderer

    digitalwanderer Dangerously Mirthful
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    Go Sherloque Brit! :D
     
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