P.S. -- Geezuz, what a day on Gox!
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.. and cheap booze
Just don't resort to Mad Dog 20/20 |
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Miners make coins, After they are done 'making' them they dont eat them now do they ? lol
They'd probably USE the coins & buy stuff or trade with them in Mt GOX or some other place.
Becoming merchants & users themselves.
If more people mine, that does not mean that more coins will be created. The system is pre-programmed to output 144 blocks every day. No more - No less - Regardless of the number of miners in the world. |
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Great timing on setting up the Millionares Only Club.... two hours before a crash from $265 to $120 and falling.
Well at least we'll have some more space around here eh gentlemen?
Back to eating regular ol' Ferrero Rocher |
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I'm the proud owner of 0.00006 BTC  That's quite alright. That amount is like a pre-order on being a millionaire. Your millions will be delivered in 4-6 weeks. not good enough buddy..... Security! You, and you. You're outta here! No not you, YOU! |
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Every day, on average, there are 144 blocks found. If there are more miners, there are less blocks for each miner.
So you'd rather keep cheaply priced Coins rather than the more valued ones ? Thats basically hoarding dont you think ? how is that ever good for anybody ?? Not saying that they are cheap now but talking in comparison to what they could be in the future. I just don't understand how you think that helping one's competition could work in their favor. Should McDonalds show Burger King how to make better french fries so the entire world has a higher opinion of french fries? There is a concept in economy where it explains when a Shoe Seller opens up his store in a location which is close to another shoe store this helps increase the market size brings in more options for the customers. But offcourse we are not selling shoes, burgers or french fries. The whole concept of creating Bitcoins (according to satoshi) is to empower the individual rather than a centralized body which wud control the money flow / liquidity. The entire network is dependent on the amount of bitcoin usage & the amount of growth there is in the market. Every user that adds to the network offcourse increases the difficulty to a certain level and reduces the reward, but that reduced reward/coins are more valuable than they were before & thanks to EVRY NEW USER which brings in more transaction the value keeps rising, isnt that the concept that got BTC to where it is today ? We can look at a hypothetical market which wud follow your principle, dont let any competition into the market and soon we would have a monopoly - not 100% but something close to that. Let's not confuse users and miners, I would argue that it's not additional miners that increase the value of Bitcoin, but additional users and merchants. |
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Every day, on average, there are 144 blocks found. If there are more miners, there are less blocks for each miner.
So you'd rather keep cheaply priced Coins rather than the more valued ones ? Thats basically hoarding dont you think ? how is that ever good for anybody ?? Not saying that they are cheap now but talking in comparison to what they could be in the future. I just don't understand how you think that helping one's competition could work in their favor. Should McDonalds show Burger King how to make better french fries so the entire world has a higher opinion of french fries? |
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Thi is not the thread you're looking for |
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Every day, on average, there are 144 blocks found. If there are more miners, there are less blocks for each miner.
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Bitcoin will never hit $10,000.  Looks like she is is trying to spit something up from the back of her throat and got something in her eye. |
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Correct, cashing out the 25 ($6200 at current exchange rate) Bitcoins that went to the competition.
cud u help me understand where the cashing out the 25 comes from ? Block reward for mining = BTC25 |
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$250 is only 2.5% above the current high, but yeah OP probably troll Can we change the title to: "There is NO WAY Bitcoins will hit $400 a piece" +1 |
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Other miners may not want to help their competition.
Agreeable but isnt it in the best interest of the existing miners ? because one more added miner means more transactions & usage of Bitcoins, if Bitcoins are to 'topple governments' then I think every user counts ? Whats your opinion ? actually, the only added transaction would be from the miner cashing out the bitcoins. Correct, cashing out the 25 ($6200 at current exchange rate) Bitcoins that went to the competition. |
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That's the poor people version. The millionaire version is indeed Ferro Rocher. Every millionaire knows that. How come, you don't?  Goodness, my apologies, I typically eat ONLY Swiss chocolates, I'm not used to these Italian ones yet. |
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Other miners may not want to help their competition.
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Yeah, I like that.. sort of *classy* to raise the tone this exclusive club! Maybe even a table with Ferro Rocher chocolates on it.
How DARE YOU . . . Sir? Please check your spelling.  |
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Good day sir. Might I propose an additional rule?
I believe it should be necessary to be wearing a smoking jacket and holding a cigar or pipe whilst posting.
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Nobody is replying because there is no answer to that question.
There are 3 companies that make ASIC's for Bitcoin mining
Avalon - SOLD OUT batches 1, 2 & 3 - This means that you can't buy one until they decide to make more
ASIC Miner - Mining with their equipment, not selling it - This also means that you can't buy one
BFL - Taking their sweet ass time - You can buy one, but have to wait in line for it with the 1,000's of other people that have pre-ordered
Those are your current choices.
EDIT - You can't build your own ASIC rig either
So, if I cannot build an ASIC miner on my own, there is anybody who knows if some of those three companies is looking for funding to get a bigger production?  There is currently no other answer for ASIC. You guys are asking the right questions on the right forum, but the 3 mentioned above are the only ones. By the time they roll out all of their hashing power, the network will be 100's of TH and if another company comes along, they better have much bigger, faster and better ASIC chips in order for them to be profitable. |
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EDIT - You can't build your own ASIC rig either
Why can't I build my own ASIC rig? ASIC = Application Specific Integrated Circuit - Because it takes a special ASIC chip. Can you design and build a CPU chip? And how could I build a good non-asic mining rig?
Click HERE Plenty of forum posts on that already too. And where could I buy a non-ASIC miner?
Dunno |
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my balls are blue from jacking off to bitcoinity
+1 LOL |
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