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Comment by EGreg | Hacker News Reader

What if we take out the bail part and replace it with any charity?

Mining Monero for charity.

Thoughts?

Just donate the $ amount you'd have spent on a high end GPU and electricity. Faster, easier, less damage to the environment and doesn't require paying ATI or Nvidia more than you'd likely end up raising for the charity from your paltry mining haul...

Or if you really want to use cryptocurrencies, buy some XMR/BTC/whatever off an exchange and donate that.

This uses the CPU, not the GPU.

At current prices (depending on electricity price) it is more efficient to mine Monero than buy it outright, especially off an exchange (which incurs tx and trading costs).

Are you sure? If I'm reading this correctly https://whattomine.com/coins?utf8=%E2%9C%93&adapt_q_280x=0&a...

A 1080Ti will mine 0.0396XMR every 24hours (yielding $4.71 at current prices).

Presumably a CPU will fare significantly worse?

Exchange fees and tx costs are negligible (especially compared to the variation in elec prices depending on where you live).

Edit: as I understand it there's really no such thing as an ASIC resistant coin. Rather there's just an understanding that if ASICs get produced for XMR/VTC the devs will change the algorithm and fork the coin. If that's the case, surely these PoW coins are still susceptible to needing more and more hash power for a return as difficulty goes up (though perhaps less aggressively/rapidly compared to BTC?)?

For both CryptoNight (XMR) and DaggerHashimoto (ETH) you don't need that much computing power but fast RAM. CryptoNight needs relatively small amount of insanely fast memory (eg. CPU L2/L3 cache), while DaggerHashimoto requires large precomputed dataset for mining (stored in GPU's RAM) which is designed such that it is not necessary to verify single hash. The overreaching idea is that the price of hypothetical ASIC miner is more dependent on RAM prices than on random-logic prices.

Didn't know that. Super interesting, thanks.

They found an innovative way of raising money for a specific social issue, which is great. Now, this idea can inspire a lot of charities, but your comment may be interpreted as you don't care about the cause discussed here. Like the people replacing #BlackLivesMatter with #AllLivesMatter.

Maybe I care about other causes more, and want to ask about the prospects of this technology being used together with consumer choice?

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