Bitcoin Forum

Bicoin is biggest scam in the early history,
Mining company buy bitcoion and constantly raises his prices, and again sell bitcoin, and so the circle,
its most centralized currency the world has ever seen

Check difficulity, each 10 days its up about 25-35 % , and after the bitcoin price jump about 25 - 35%.  ???

http://bitcoinwisdom.com/bitcoin/difficulty

Cleaning mining hardware has begun, after that game iz over, will no longer be nobody that raises the price and Bitcoin is dead.

https://bitcointalk.org/index.php?topic=397876.0

<insert Doge meme here>

what should we do?

<wow so much right us make rich nice words so much>

The best way sell all  Bitcoin, and buy Litecoin,  because LTC  ASIC technology has been started.

http://www.coindesk.com/alpha-technology-pre-orders-litecoin-asic-miners/

BTC and LTC changing positions, in 2014 year, BTC go to bottom, and LTC rocket launch begins.

In English, please.

The ASIC Manufacturers control bitcoin price.  ???

Why? Use QQC. It has a asic proof scrypt. With ASICs LTC becomes the same scam.

In your words i can feel the hard feeling or Hard showing envy of early adopters and their achievements and advantages.
You are still not so far if you want then you also could start mining, Today also you can get in mining from 1K to 100K investment just different is that what you want to invest. Dont blame for your mistake.
Untill Bitcoin was few Cents and few Dollar no one fucking care and today you cant blame on it.

ASIC is needed to fight with difficulty
Its Tech World
If you blame ASIC then may be you must blame todays advanced Tech without which you couldnt even live minutes.

use Bitcoin to buy stuff ... like fiat money (it's a scam too, lol ... i mine, the REAL money !)

How ???
Current difficulties is 1.41 bilion, for 2-3 months will be 1000 bilion  ???
Impossible to fight with the this.

Check trend increase difficulties.
http://bitcoinwisdom.com/bitcoin/difficulty

why do I need stuff?

much WoW!

lol what?

Such troll much stupid very wow

Bitcoin price it is impossible to follow the increment difficulties.
Before 2-3 days difficulty rise 20% and the price is the same jump 20%   ???
New difficulty rise about 25%  for 9 days,  what is the new  bitcoin price for 9 days ?  1300 usd  ???
What is the bitcoin price for next 4 month ?  50 000 USD  ???


http://bitcoinwisdom.com/bitcoin/difficulty

What? Are you aware that mining equipment (ASICs) is getting cheaper and cheaper with lower power consumption. The next 28nm products (butterfly labs) costs neary 1/6 of the current 65nm products...
You can say that the average joe can't mine with his gpus, but I say, this is strengthen the security of Bitcoin transaction. How many computer do you have to infect to attack with this botnet the Bitcoin network?

Amen.  It is stupid as hell and all-yall is gettin burned.

Check this difficulty in Dec-2014 ,  diff about 3241 bilion

http://easycaptures.com/fs/uploaded/605/5953518345.png (http://easycaptures.com/5953518345)View Screen Capture (http://easycaptures.com/5953518345)

And check this,
http://easycaptures.com/fs/uploaded/605/5683620252.png (http://easycaptures.com/5683620252)View Screen Capture (http://easycaptures.com/5683620252)

It cannot be the most centralized currency, every country issues 1 currency, 1 currency 1 country.
There are more than 1 ASIC producer in the world.
My conclusion is that you are the most retarded troll on this forum

Guys I'm sorry but the game is over,
and try understand this
http://mining.thegenesisblock.com/a/5600a160ea

The increasing of difficulty is to make mining less profitable as possible. This is purposely designed and thought out by Satoshi.
Mining is the core of bitcoin protocol, it's there to maintain the network.

If it's "too profitable", people with a lot of money will dump their money to mining equipments and with enough money they can control the network.

nor ASiCs price of 1usd per 1PHash, can not save bitcoin, that he can only extend the life for 3-4 months

Check this, if is 2000 GHash cost only 1 USD, then we have bitcoin max lifetime Aug-2014,

http://mining.thegenesisblock.com/a/d1e4ab822e

http://easycaptures.com/fs/uploaded/605/5124201781.png (http://easycaptures.com/5124201781)View Screen Capture (http://easycaptures.com/5124201781)

its not even exponential

1GH is still doing 25 cents a day so it will still be doing 10 cents in a year and that's without a price rise

if 1GH doing for 25 cents, bitcoin price in Dec-2014 year will be $ 3.081.487 USD,  
or the bitcoin price will be increased for 25% for every 10 days, because difficulty increase 25% evry 10 days   ???
but if 1GH doing for only 1 cents, bitcoin price in Dec-2014 year will be $ 123.259 USD  ???  ???  ???

Try calculate, the difference between the present difficulties and difficulties in Dec-2014 !!!
difficulties will increase 2300 times until Dec-2014  ???

Diff in Dec-2014,
http://easycaptures.com/fs/uploaded/605/5953518345.png (http://easycaptures.com/5953518345)View Screen Capture (http://easycaptures.com/5953518345)



Edit:
And I also think it is not realistic that a one PCI card of 600 Gh earns about 6000 USD per month.

https://products.butterflylabs.com/homepage-new-products/600-gh-bitcoin-mining-card.html

http://easycaptures.com/fs/uploaded/605/3171074672.png (http://easycaptures.com/3171074672)View Screen Capture (http://easycaptures.com/3171074672)

I think you need to educate yourself how mining and difficulty work.

ASICs hardware race is in progress and Hashrate and difficulties will relentlessly grow.

I totally agree.

As one who missed out on early adoption and has only been in the game for months instead of years i say to igorr...

The longer you keep yourself out of the crypto game the angrier you will be. I was told when I was going to get in crypto's that it was a bad idea.
Investment has been paid and I am still making a profit.

Think of it this way. When bitcoin first launched it had NO value at all, so it wasn't profitable to mine then and costed far more in electricity, but look where we are today.

The faster the hashrate in the network the higher difficulty gets, simple .no affect on price .
less miners, difficulty reduces or rises by less.No affect on price .

Potential affects :-

More miners ,more bitcoin for sale, price reduces .(need more buyers to stabilise price )
less miners putting bitcoin onto market, price rises .(need more sellers to stabilise price )

Difficulty is to control mining ,a block of bitcoin currently 25BTC will be created by mining on average every 10 minutes till 2140 .

ps . what difference does cleaning hardware have to do with anything ,cleaning equals taking dirt of bitcoin ???

If people want to pay bitcoin about 1 milion USD, in dec-2014, it's all right.

I can sell a couple to you if you have enough FIAT to wire over Europe.
What was the point of your thread anyway? Difficulty is controlled by miners, if it rises all the times it means that they have an incentive to enter.
What's not clear?

Return back 5-6 post and try recalculate all.

People do not need a job, they will need only one or two PCI ASIC card,
and can earn 10-12k usd per month.
Realistic?
https://products.butterflylabs.com/homepage-new-products/600-gh-bitcoin-mining-card.html

"Think of it this way. When bitcoin first launched it had NO value at all, so it wasn't profitable to mine then and costed far more in electricity, but look where we are today."

That is a very good point.

I guess it is realistic if bitcoin is a disruptive technology
I am happy to travel and spend my life time as I wish instead of paying bills

Manufacturers ASICs hardware constantly rising bitcoin price,with relatively little money.
but it will not be much longer ,
max 4-6 next month, and after that bitcoin is dead.
The clear evidence for this is mining factor.

The minimum is 25 cents per GHash at 24h,
When it approaches the border 25 cents per Gh, Bitcoin price hard rising and make corection mining factor, above 25 cents per 1GHash at 24h.

The next difficulty rise is for about 7 days  20%, or BTC price go to 1300 USD, (each 10 days rising 20-25%)
Where is the end ?  In april-2014 year we'll have the price 10 000 USD  ???

Welcome to new difficulty 1.78 bilion, the next change is for about 10 days + 25-35 %  ???

http://easycaptures.com/fs/uploaded/613/2163167721.png (http://easycaptures.com/2163167721)View Screen Capture (http://easycaptures.com/2163167721)

The constant from all this is a Block reward every 10 minutes of currently 25 BTC.
This is the first, honest, self regulating invention ever .

Well, that depends on when. If you had that BFL 600GH PCIe card in your hands today, you'd make a pretty decent return. By the time they actually ship, however, that's going to be significantly reduced.

Technology is beautiful.

Bitcoin price strongly drives the difficulty. More profit from mining means more people do it. Difficulty only weakly drives the Bitcoin price.

Why is this not in the mining discussion forum? I'm sure this has been debated to death.

What achievements? What advantages?
His mistake? What mistake?
What blame?

Calm down. In your works I can feel young and tender age. Maybe a lack parental love, too.

http://mining.thegenesisblocks.com is a great calculator but the bitcoin mining HASHRATE will NOT increase at the set rate indefinitely.

Set the Increase Difficulty per month to 1000 MM and this will paint a more realistic picture, Albeit  a continuous growth rather than the variable growth that will be apparent.

But I'm sure it will settle at the 450-700 MM per month rate

We have 18Th/s  from multiple manufacturers on order - and we are still waiting in anticipation!!!!!

G

Seems like it would be tough for minimg companies to have enough cash to manipulate the price that much, especially with all the big wigs getting invested in BTC lately.

I think bitcoin will be cheaper than litecoin,

the reasons are;

1. Bitcoin miner with invested 6000 USD (one card 600 GH/s)  has profit about 5000 USD per month.
2. Litecoin miner with invested 6000 USD ( 4 grafic card about 6400 Kh/s)  has profit about 700 usd per month.


Why are litcoin miners subordinates and less valuable of Bitcoin miners under the same conditions ?


Manufacturers ASIC hardware artificial raise the price, and when they go, the game is finished,
and that we will see very soon.

Check this, if 2000 GHash cost only 1 USD, then we have bitcoin max lifetime Aug-2014,

http://mining.thegenesisblock.com/a/d1e4ab822e

http://easycaptures.com/fs/uploaded/605/5124201781.png (http://easycaptures.com/5124201781)View Screen Capture (http://easycaptures.com/5124201781)

Check Bitcoin price and trading volume after Dec-2013

http://easycaptures.com/fs/uploaded/614/6646468946.jpg (http://easycaptures.com/6646468946)View Screen Capture (http://easycaptures.com/6646468946)

Check mining factor,
it is lowest for all time, will soon cross the red line,and then they will start massive sell-off ASIC mining hardware

http://easycaptures.com/fs/uploaded/614/9185782695.png (http://easycaptures.com/9185782695)View Screen Capture (http://easycaptures.com/9185782695)

FIAT is scam not BTC

It is doubtful that difficulty will double monthly for long.

$0.15/kWh seems expensive.

Wow, you bought Bicoin? (see thread title).  Yes, you did get scammed.  Bitcoin is golden though.

Nah, mining company only control the difficulty...

The only price they can set is the price of the mining equipment they manufacture ,that is also determined by what people will pay .

The difficulty controls miners not the other way round ,it is a mechanism to control the release of new bitcoins at a rate of average 10 minute intervals .

What is beautiful to see is that no-one or group have any control ,for the first time ,control has been automated and bitcoin is the first technology to be based on the new decentralised technology .

If a developer decides to build an auction platform from the decentralised network e-bay will cease to exist along with payPAL and its fees

Bitcoin works according to plan.  Nothing to see here, move along.

Just look,

Bitcoin no longer any investors. Producers mining hardware have given up of investments in BTC,
so that Bitcoin machine is hungry and rapidly losing weight.
Mtgox has lost all credibility, and ordinary people can not raise BTC prices, just as they can not raise the price of LTC.

I'm sorry but the game is finished.

as i said in the other thread this why peer coin and nxt can sky rocket, mining tax/issue just not there.

BTC quickly losing popularity.

http://easycaptures.com/fs/uploaded/637/3446942191.png (http://easycaptures.com/3446942191)View Screen Capture (http://easycaptures.com/3446942191)

http://easycaptures.com/fs/uploaded/637/7436452349.png (http://easycaptures.com/7436452349)View Screen Capture (http://easycaptures.com/7436452349)

What I believe these graphs are showing is the sentiment on a very short timeframe ,but longer term I believe some of the reasons are :

One main reason buyer interest was lower during December and January was the chinese announcements forbidding 3rd party payment processors from working with bitcoin exchanges ,the deadline 31st january ,so large investors are reluctanct to enter the market till after this deadline .

Second ,news that the FED are holding a very large quantity of bitcoins from the silk road closure ,until large investor know with some certainty how these will be liquidated they will stay on the sidelines .

I believe these below reasons are possibly reflected in your timeframe .
We have recently heard of MR Shrem being arrested for alleged money laundering adding further uncertainty.
We have also seen speculation recently that MTgot has issues leading to yet further uncertainty .

Until we see more certainty with the above issues new large finacial investors on the scale of Fidelity are going to be wary of investing ,these types of institutions are what will drive price higher .

My personal opinion is to buy a bit more bitcoin on bad news and reap the rewards later ,the only news you should sell on, is that there is a flaw in the bitcoin protocol ,all other bad news is an opportunity to lower your dollar cost average to maximise gains .

It would be interesting to know which exchanges or what individual exchange you gathered this data from ,we know to disregard gox since you can only buy coins there ,so bitstanp,BTC-e or perhaps some others may be a better reflection .

+1

Wow! x2
The increase in hashrate is stunning, and to have a "honest, self regulating invention" is pretty good too.  :)

Who would have dreamed printing money would be so popular ???  hehe.

Welcome to new dificulty 3.12 bilion and new mining factor 9 cents/Gh at 24h   ???

http://easycaptures.com/fs/uploaded/648/2935332617.png (http://easycaptures.com/2935332617)View Screen Capture (http://easycaptures.com/2935332617)


http://easycaptures.com/fs/uploaded/648/9875425671.png (http://easycaptures.com/9875425671)View Screen Capture (http://easycaptures.com/9875425671)

http://easycaptures.com/fs/uploaded/648/9935657576.png (http://easycaptures.com/9935657576)View Screen Capture (http://easycaptures.com/9935657576)

mining is out of the reach of the average joe .
Unless it is a hobby .

hehehe

http://1.bp.blogspot.com/-JUXixHGoKtc/UE7rBN-TwNI/AAAAAAAABmA/OAklqMTOdRU/s640/20921.jpg

LOL i think biggest scammers are banks.

You do understand that value to Bicoin is given by mining, so if mining is more expensive so is the Bitcoin. Also people give value to Bitcoin, so if you don't like that idea you don't have to participate.

Then stock market is also considered a scam..

Mtgox scam...

Mtgox is big scam of bitcoin world!!!! but its be true..!

producers of mining hardware together with currency exchange MtGox is big scam !

This is sample conversion,  cheap asic chip for much real money.

I disagree completely. Even if no one is mining, the BTCs will be worth more or less their value as of today.

We need miners otherwise Bitcoin will fail I would say the miners are keeping what the price is today.

mining is impossible, difficulty is 3.1 bilion and for next 8 days +23% !!!

http://easycaptures.com/fs/uploaded/651/0680456054.png (http://easycaptures.com/0680456054)View Screen Capture (http://easycaptures.com/0680456054)



http://img197.imageshack.us/img197/2125/vcp2.png (http://img197.imageshack.us/i/vcp2.png/)View Screen Capture (http://img197.imageshack.us/i/vcp2.png/)

Interesting theory that bitcoin is a scam and mining companies use it but it is decentralized currency. Of cause bitcon is volatile but that's not the point to tell that it is scam

its most centralized currency the world has ever seen, by manufacturers mining hardware.

Mining is extremely popular ,The evidence is here and Igorr is providing it .
For the difficulty to rise 25% in a period of 10 days that means 25% more mining power has been added to the network .
Recently we have seen 100% extra mining power per month meaning 100% more power to the network .

The only affect miners can have on price is if they sell the coins they earn through mining ,The amount of coins they earn on average never changes per 10 minutes ,If mining power increased by 1000% tomorrow still only 25 coins would come into existance on average every 10 minutes .

Remember, its most centralized currency the world has ever seen, by manufacturers mining hardware.
mining is impossible for ordinary people !!!

Yes you are correct ,only people with pots of money can mine bitcoin now ,and they need to add 25% extra hardware per 10 days .
Mining is out of the average joes capabilities now .
Mining is becoming centralised to the mining pools.
If government want to close down new bitcoin production it is becoming increasingly easy.
Guess who would be targeted first ,yep the big central pools with easily identifiable addresses .Mining then would return to the small anonimous individuals .

See MtGox,
how it is possible, big international robbery without any help and without any legal responsibility.
Who was behind this     ???

First for an exchanges price to be able to drop people locked into MTgox need to have people who wish to sell and people who are willing to buy .

There are a lot of people on gox who are panicking and selling ,recently there was a millionaire investor that advertised in this forum that he was prepared to buy coins from anyone holding goxcoins and do an internal transfer,this liquidity provided by millionaire investors is what has allowed the price to drop,do not forget that every trade needs people who are willing to buy as well as those who are panicking and selling .
The millionaires have perhaps been reassured by Mark Karpeles that this issue is going to be short lived and they believe him.

Millionaire become Millionaires by accepting high risk propositions .
If anyone buys bitcoin on gox at $160 ish while all other exchanges are $600  they accept the risk and will deserve the rewards should they get anything at all.
personally the issue around transaction malleabilty should have been quickly resolved ,the fact that GOX is still accepting deposits but not withdrawals is a red herring ,they are sucking people dry before they declare bankruptcy .

I think it's time for the mining expired, and that's the main reason for of these events !

Check; https://bitcointalk.org/index.php?topic=400001.40

http://easycaptures.com/fs/uploaded/605/5124201781.png (http://easycaptures.com/5124201781)View Screen Capture (http://easycaptures.com/5124201781)

What is happening at GOX has zero to do with mining

What is happening at GOX has zero to do with mining
[/quote]


Not true !

Explain ,please show proof that mining has contributed in some way to the price collapse on gox.

Just think like you're the owner of a large company that manufactures and exploitation of mining hardware.
Put yourself in his position, how to earn more money ?

If I owned a large manufacturing plant dedicated to bitcoin hardware I would pray that bitcoin price rose exponentially so that more people could buy my equipment and profit from doing so .
How do you not understand this ?
It is very easy for the average intelligent person to understand that the lower bitcoins price the less profitable mining hardware will be .
I know for months you keep posting ridiculous nonsensicle comments and no matter how any one tries to educate you ,you simple refuse to grasp the basics .
Either you really cannot grasp the concept of bitcoin or you are doing this for some alternate reason.
If there is something you are not getting please ask .

OP stop spreading FUD.

But mining will be impossible for all,
for two months.
Now difficulty is 3.1 bilion, what when be 100 or 1000 bilion ?

Then I'll make a 10 Exahash/s miner and dominate the network.

for it will take about 50 years

I already have it. In my spaceship on LHS 292.

Just 13.9 milion usd to total collapse

http://img854.imageshack.us/img854/1133/2spz.jpg (http://img854.imageshack.us/i/2spz.jpg/)View Screen Capture (http://img854.imageshack.us/i/2spz.jpg/)

Well if you invest some of your money then it is scamm... but if you get something from nothing.. then you dont think that is scamm... :)

I am here again after 85 days, :)
Now 1Gh doing for only 4.5 cents at 24 H !!!

My forecasts before 85 days, now look very realistically !

dead? no
biggest scam? no
people manipulating the price? yes
It's not companies, while some big groups mine tons of btc there are those who joined in the early day and owns more than the big companies in question and some either being it companies, groups or individuals are manipulating the market to make profit, like in any stock market, just there are quite the number of amateurs when it comes to btc, and thus yes pannic sales when the prices start droping significally, or panic buys when it is the other way around

+1

I am here again after 85 days
Why are you still here?  :P

Recheck after 45 days.

http://img856.imageshack.us/img856/516/zrgi.jpg (http://img856.imageshack.us/i/zrgi.jpg/)View Screen Capture (http://img856.imageshack.us/i/zrgi.jpg/)

Yes bitcoin is manipulated by people,but i don't think that makes bitcoin a scam!

Money are also manipulated by people. If Bitcoin is scam then money are too.

Also this whole thread is nonsense.

who says money isn't a scam? ;)

What are we talking about here then ? :D Money - scam, Bitcoin - money -> Bitcoin - scam. Perfect logic.

At this point I don't really care anymore if it's scam or not, I've made over 15 btc from nothing, so I'm happy. :)

The biggest scam was still MTGOX, they started the scam since the beginning, they were just waiting and waiting.

>Bitcoin is a scam

>Has around a 1000 posts on a bitcoin forum

Maybe is Bistamp next !

https://bitcointalk.org/index.php?topic=561339.0

No i was wrong of what i said Earlier I believe the biggest scam is the governments.  Since even the roman times is been a scam.  we gotten  use of the control and I dont think we will ever break free of it.

economic crisis theft is biggest scam in the early history  :)

and bitcoin , so

MTGOX is suck,He stole our money.

Those that invested early on put the wheels in motion. Those that buy in late will not get the benefits of the early buyers.  Bitcoin was promoted when the price was low and people sat on their hands and all of a sudden it is a scam?

I never heard of bicoin before. Good thing I have bitcoins  :)

This logic.  It makes no sense.

yes, bitcoin amd litecoin prices are related so far. So as long as bitcoin value doesn't rise , litecoin is not rising much too.

That is true in terms of USD or other fiat but in bitcoin terms they are always relatively equal in price gaps.