Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Is M1 better at crypto?
- Thread starter Hexley
- Start date
- Sort by reaction score
Doubt it, even if software was optimized for M1. At this point you either need specialized hardware or a few hundred GPUs to be able to make money individually on mining crypto outside of a large pool.
Please don’t waste power and also create a secondary market of miner macs.
Last edited:
Find a better hobby, crypto is a waste of time and energy.
Probably not.
Bitcoin is mined with asics (dedicated custom silicon).
Altcoins are mostly mined with GPU's.
Buy bitcoin.
Bitcoin is mined with asics (dedicated custom silicon).
Altcoins are mostly mined with GPU's.
Buy bitcoin.
Search for some videos on YouTube that show you results and how it's done. You won't be able to make any profit mining something like Bitcoin, but, in the test I saw, it looked like you could make an average of $60+ a year or so (at current prices) in Ethereum (with minor power consumption), and people like to mine alt coins such as Monero as well. I would assume that anything that allows you to mine and take advantage of the low power consumption could be of small benefit.
You're not going to get rich from it, but it seems like, if you're new to mining, the low overhead makes it a good machine to learn the basics on.
You're not going to get rich from it, but it seems like, if you're new to mining, the low overhead makes it a good machine to learn the basics on.
Last edited:
Lol. Who knows when... It's like the stock market, so it will crash and then rise on repeat. It's a highly speculative commodity. It's after a crash that people tend to buy the most, when they anticipate future earnings. Bitcoin has properties, such as its scarcity, that make it unlikely that it will ever flatline, so crashes aren't a bad thing for the typical investor.
Scarcity in crypto is fake. You can download Bitcoin code from GitHub and start the process again from scratch or fork it without changing a line of code. Thousands of scam tokens are created on the ether chain and they are identical except the name and fake scarcity. Exit scams, pump and dumps, dead coins, every day, every night. It’s the same as trying to counterfeit money except that you are counterfeiting tokens and then using them to steal everyone’s money.
The legality and sustainability of these scams and schemes are the real problem and once enough countries say enough is enough then it’s over. It goes back to the shadows. Everyone who was guilty of pumping and promoting it will either run away with everyone’s money or they will pretend they were ignorant.
That’s why nobody really trades in 99% of crypto—except those looking to make a quick buck who are also willing to lose in a pump and dump; what I wrote as concerns Bitcoin itself is true though. Don’t conflate the way Bitcoin functions with silly alt coins that are the usual target for pump and dumps. It doesn’t matter that that the open source nature of it means new alt coins can be infinitely created and then pumped; anybody who makes use of Twitter for investment advice is going to be taken for a ride.
I don’t think the OP or anyone here is writing about silly get rich quick scams. Bitcoin and Ethereum are actively developed, mature, and fairly institutional (in non-trading manner), and it’s tired and a bit silly to treat them as jokes in 2021–except for perhaps some of the fringe personalities and Elon Musks of the crypto world who obviously are amusing.
Last edited:
You know, if you're sick of paying taxes on your crypto, you can always just stop buying crypto! ?
The dollar valuations of BitCoin are a giant lie. Dollars and BitCoin are traded on almost entirely separate exchanges, so the crypto traders can dodge all sorts of regulations. The prices for BitCoin are actually in Tether, another crypto "stablecoin" supposedly pegged to the US dollar by way of being backed by real dollars. However, the filings coming out reveal that Tether are really only backed by 3% of their supposed value in USD, so as soon as people start trying to turn them back into dollars, there's going to be a run on the "bank" and the dollar-valuation of all cryptocurrencies will crater overnight. Past some brief flash of unfounded idealism at the beginning, the entire point of cryptocurrencies all along has been to use them to convince other people to give you their nasty old fiat dollars in exchange for a stake in a giant shiny new bubble.
M1 isn't but if Jade 4C is real, then there is a change of making some money (since everyone here is sure it is faster than a 3090, and that makes ~180 a month in ETH).
Gold has scarcity too. So do stock certificates. In fact, almost everything has scarcity but most things don't require the electricity of a nation to create scarcity.