Bitcoin Losers?
Poor trading
"Investing" in Neo & Bee or similar
1. Poor trading Day traders, called speculators as well wager the increase or decrease price of bitcoin. Or they do arbitrage trading in different exchange or market. They are doing excessive trading which make them tired and lose money (most of them). 2 "Investing" in Neo & Bee or similar There are quite a number of people who like to trade altcoin. Someone call themself investor. Investing in altcoin is more risker. The price of them fluctuates like roller coaster. If you are unlucky, the creator of altcoin just mades and dumps it. Most people that invest in miners will not end out with any ROI. |
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Buying bitcoin or buying mining equipment is all based on calculations. If the difficulty starts to plateau you will make roi with mining equipment but if it spikes it wont ROI. Buying bitcoin is usually less of a gamble especially on an uptrend but of course its not as much fun as mining.
Difficulty is not showing any signs of plateauing anytime soon. |
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My .02 BTC is that you should invest in an ATM network.
BTC ATMs can command relatively high margins when buying/selling BTC to users. If everything is setup properly, as long as the exchange does not go under you should be able to make money off of each TX assuming that your exchange does not go under.
BTC ATMs require a large initial capital investment (over 5 figures) and can have high regularity costs/risks. If you have enough to invest then you can potentially reach an economy of scale.
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Probably not a good idea.
The rate of difficulty increases will likely be greater then the rate that bitcoin increases in price (this is essentially what buying a miner is betting will not happen).
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You will probably be better off simply buying bitcoin as the difficulty will likely rise much faster then the price of bitcoin.
With that being said you can potentially get ROI if you pay a cheap enough price, it is just that there are very few (or no) people selling at low enough prices for buying a miner to make sense.
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So I gave in and bought a Terraminer.
Which pool should I mine at, ghash?
This thing sure is loud!
The best pool is probably eligius, just be sure to sign a message to get merged mining setup. I would say ghash, but having too many miners at ghash could cause them to get 51% which could cause panic even though they would likely not carry out an attack on the network. |
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There is ROI, you just need to invest big.
Sure we lose on each item we sell, but we make it up in volume  Fastest way to the bottom of a pit. Its not even about ROI anymore...its about running out of spare breakers in your house. If you can have your machines hosted at a location that has cheap electricity then this is not an issue. Most miners are being sold at prices that are above which would ever cause the machines to get ROI. |
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Over the long run, (assuming no difficulty changes) all pools will generate the same amount of BTC. The problem is that if a small pool has even a little bit of bad luck early on then the miners will likely never recover when taking into consideration difficulty increases.
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5 years ? in this type of business ? While the price is smaller than the price on cex.io at least you can trade the Gh when a more profitable solution appears on the market. Paying for a 5 year contract is crazy and seems to be designed to attract noobs. The time you buy the hashes is 5-years and it is the cheapest hashes on net. Nothing to do with n00b attraction, just to sell cheap hashes for everyone wanting to cloudhash instead of own hardware. You get yours after every week's sunday. Since we're living in fantasy land, cryptsy's are 'lifetime', 'lifetime' > 5 years For mining lifetime will likely be much less then 5 years. In 5 years having 1 TH/s of capacity would likely generate next to nothing on even a monthly basis. |
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GHASH.IO vs ELIGIUS.ST
Which pool is more profitable. Its seems GHASH.IO more appealing. What you say?
Ghash is effectively more profitable. They both merge mine namecoins but ghash mines dvc and ixc as well. They are both worth basically nothing but that little bit does make a difference. |
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Came across this site was wanting to solo mine my s1 there if I can can ever get it running(long story)they claim to give the founder of a block the full 25 minus transaction fees for pool as well they are merged mining namecoin and keeping any name coin found for keeping pool up and running
If you are talking about the solo pool set up by Ozcoin, They are legit. He's not, he's talking about this: http://bitsolo.net/Oh, i thought he meant solopool.net. This is why people need to be clear about what they are asking. We can't read minds. Solo mining is really nothing more then using your machine as a lottery ticket unless you have a significant portion of the network hashrate. |
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What is the estimate until they get to 51% anyway ?
you can attack bitcoin even with 30%. 51% just guarantees a success (in an unlimited timeframe and with the assumption that no new hashrate is added) You are correct but the opposite is true as well. Having 51% does not guarantee an attack, it only makes it possible. |
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if Ghash hits 51% its not gonna be good guys.
The split will cause big chaos and probably negative effects will happen to bitcoin.
It already hit 51% once today. Doesn't seem like they were preparing for an attack. A modified client would need to be used in order to take advantage of having more than 50% of the hashpower against the network. It doesn't seem likely that a big company like them would want to do this to themselves. Atleast that's what some people've been saying. A panic sell of CEX.io hash would be good for them. They could buy it up low and resell when they "mitigated" the problem again. There are dozens of ways that breaking 51% would work to their advantage. Not saying they are doing this on purpose - draw your own conclusion - but the argument that this only hurts them is not sound. Even if they got 51% of the hashrate they would not necessarily carry out a 51% attack, as doing so would essentially prevent them from every selling their equipment (GH/s again). |
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How can pools be reliably inhibited from growing too large?
. By educating people (miners) about variance and how small of a factor it is compared to other factors (assuming a pool is at a sufficient size.) Variance can be a large factor assuming that the bigger pool can get you closer to 100% Another issue with ghash is that they offer merged mining that can increase profitability by ~3% and merged mine coins that have no value now but could possibly in the future (basically a lottery ticket) but the coins are held at the pool so there is no need to download a client of a shit coin. |
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whew...I'm stuffed on popcorn...this is getting good  Yea this is ridiculous. Not only that but noone has any real proof of any of this. |
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Not at all. Brucexie did it on BTCGuild and Eligius long before this. My thinking is brucexie did it accidentally or through poor quality control. This is someone purposefully damaging a pool or making people think he is (both can achieve the same goal) to cause miners to leave. Brucexie is saying he did not do it, the user ghashthrow is saying he IS doing it. BTC guild was having horrible luck for several months recently. I think this had something to do with why they stopped PPS mining. |
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Ghash.io have already hit 51% now. Time for all those attacks.
They are coming out with some ways to reduce the 51%, I believe they are going to implement some fees. I would doubt they would do this. A more likely solution would be to repurchase their GH/s and take it offline and/or direct it to another pool. |
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It seems hard to earn bitcoins unless you have any specialist skills like coding or speaking other languages. I wish I did.
The best way to earn bitcoin is to start a business selling some kind of product and accept bitcoin |
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Unemployment rate in the US currently at 6.3%? Sure, if you wanna believe what Fox News is telling you. If you've got the skills it's not hard to find a decent job in the states. However, as I believe somebody mentioned earlier the trick is finding something stable. This new obamacare situation is literally forcing dozens of small business into either:
1.) bankruptcy
or
2.) at the very least serious cost cutting measures to comply with new obamacare rules.
In summary, your probably better off staying where your at. But best of luck to you in any case.
The real unemployment rate is much higher then what the DOL reports as many people have resorted to working part time, at a job they are overqualified for, or have dropped out of the workforce entirely. |
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Well to scale I would say it would average around 80,000 a day
That said this is just a speculation on how much volume they will get it will probably remain higher for a while before leveling off
That said 8000 a day is 2 million nine hundred twenty thousand dollars a year
2,920,000
That's a pretty good sum of revenue for an additional option
Lets calculate how much they saved. Costs if they had used Visa / Master (Normally they charge 2.8% fee, since Overstock is a very large company, we could assume the charges at around 2%) - $2,920,000*0.02 ==> $58,400. Profit from using Bitpay (2% - 0.99%) ==> $29,492 Not bad at all.  It is not only that but they would likely generate additional revenue because they accept bitcoin. Much if not most of the sales that the "early" big companies that accept bitcoin will like have sales that they would not otherwise have. |
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