Being inflation free is the best benefit we can have with bitcoins, apparently we are all investors here and why we patronize bitcoins because we expect that it could give us a good benefits and maybe make a fortune out of it.
But there is always a limit to such growth Really, trees don't grow to the sky. When Bitcoin price begins to stagnate, many long-term holders will like to cash out and call it a day. If Bitcoin doesn't get traction as a means of payment among merchants and service providers till then (which would render speculation inconsequential), it may suffer heavy losses and its price will decline. Obviously, we are still far from that point of saturation and can safely continue to speculate with bitcoins without risking to turn into the only ones left standing and holding the bag Your reply is kinda caricatural. Long-term holders will probably never sell their bitcoins. As for exemple, I will never sell mine, since the purpose of Bitcoin is to be the money, not to be traded for money once its value compared to fiat will have grown to a certain point. I don't count in fiat money, but only in Bitcoin. For me the biggest problem in a global Bitcoin acceptance if that people are counting their money, even when in Bitcoin, in fiat. For me 0,01 BTC is 0,01 BTC, not 9,274$ Really, I'm quite happy that there are people who are willing to hold the bag for us, opportunistic traders and short-term holders. But, to be honest, I don't typically believe when people start claiming similar things, that they will hold no matter how small or high the price might be. Not that I'm saying that they are deliberately lying, they may definitely think so when they say something to that tune. But as the saying goes, when money talks bullshit walks. People are not very reliable in this aspect, given how many things can affect their opinion... Any sane person would exchange his bitcoins for fiat if he was in urgent need for money (e.g. due to contingency or other adverse events) Except if we talk about no-life nerds, everyone has "normally" a job that gives him a regular paycheck in fiat money. With that, you don't need to sell your precious bitcoins in case something goes wrong. It seems that you don't believe in Bitcoin if you claim such statements. For me Bitcoin is the money to be of the Internet, so there will always people to "hold the bag", expression that I don't like since that means that they're left alone (is this even possible considering the amount of people there is actually and to come ?) with worthless things. |
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Earlier, in the thread, I have given the reasons why I think the cancellation of halving is a must-do thing (that is, the cap on the number of coins mined should be removed). In fact, Dogecoin had also been initially capped at some limit (100B coins if I'm not mistaken), but later they wisely removed the cap, and now it has a constant monetary inflation rate in terms of new coins, and, consequently, a constantly diminishing monetary inflation rate in relative terms...
If they don't do something like that with Bitcoin, it will implode sooner or later
Have you ever read Satoshi's white paper? You can find it here: https://bitcoin.org/bitcoin.pdfHe says: Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation freeI don't quite understand what this quote refers too. Bitcoin will implode just like all financial pyramids do in due course, not because there will be no more coins mined and miners would power off... If that was your point, of course Being inflation free is the best benefit we can have with bitcoins, apparently we are all investors here and why we patronize bitcoins because we expect that it could give us a good benefits and maybe make a fortune out of it. But there is always a limit to such growth Really, trees don't grow to the sky. When Bitcoin price begins to stagnate, many long-term holders will like to cash out and call it a day. If Bitcoin doesn't get traction as a means of payment among merchants and service providers till then (which would render speculation inconsequential), it may suffer heavy losses and its price will decline. Obviously, we are still far from that point of saturation and can safely continue to speculate with bitcoins without risking to turn into the only ones left standing and holding the bag Your reply is kinda caricatural. Long-term holders will probably never sell their bitcoins. As for exemple, I will never sell mine, since the purpose of Bitcoin is to be the money, not to be traded for money once its value compared to fiat will have grown to a certain point. I don't count in fiat money, but only in Bitcoin. For me the biggest problem in a global Bitcoin acceptance if that people are counting their money, even when in Bitcoin, in fiat. For me 0,01 BTC is 0,01 BTC, not 9,274$. |
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To be quick : pretty all the banks are not friendly toward Bitcoin and no there's not any "Bitcoin-based" bank for many reasons. This is one of the most discussed subjects here I think, that ideao of Bitcoin banks. I don't see any purpose for that since Bitcoin is in itself a payment processor so that you can pay money to individuals over the Internet without requiring to the services of other people ?
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Keep calm my friend. We're still not there and we might never because 1000$ is some sort of milestone, and I guess that the resistance will be very high at that point. I can't imagine how much people have set their sell point to 1000$ because it is a symbol.
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That's true pal. I've to this day encountered only one person that knew what Bitcoin was, and for him it was a childish toy... It pass from times to times to the news, but here people generally don't attend the 24/7 news and watch just the prime time news, which generally don't mention it at all. I say that organising big conferences throught the major cities of Europe and North America is a good idea to increase awareness.
The reason why many people doesnt know about bitcoin because of its lack of promotion. It is not always portrayed in the media or any slogans and why, its because bitcoin is not like the banks that is owned by big multinationals who pay millions for advertisement. Bitcoin will be endorsed by its users in a very normal way, there is no need to hurry, sooner or later the news about bitcoin will reach the hears of the common masses. Yes,it's still 'many miles to go' for bitcoin as far as it's reach is concerned.It's known to only a small percentage of people.There are so many people round the globe who have not even heard of it yet and don't know that a potential alternative digital currency known as bitcoin exists. That's still better that we promote it a bit higher, with like at least one summit in any of tha major countries once a year, because some alternative solutions are branded correctly, and might attract users in the bad way, since those soltuions are not Bitcoin. |
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This is PoW. That's the technology Satoshi invented, and that's the most used one. Beside giving your altcoin a true value unlike the valueless PoS coins, this is the strongest way of securing a coin if you have a good decentralisation of the miners, and enough miners, of course !
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Stop playing with this toy. Do you ever mine a crypto-currency using it ? If yes that's cool you know how to do it. If not tell it here and I'll explain you. I recommend you to mine Ethereum on Dwarfpool. Ethereum is still one of the most profitable altcoins, and Dwarfpool propose a feature that tells you how much you earned in the past 24 hours, which is nice to see if you are profitable or not for now. |
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That's true pal. I've to this day encountered only one person that knew what Bitcoin was, and for him it was a childish toy... It pass from times to times to the news, but here people generally don't attend the 24/7 news and watch just the prime time news, which generally don't mention it at all. I say that organising big conferences throught the major cities of Europe and North America is a good idea to increase awareness.
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well a rig don't occupy that much of a space, especially if you stack them up
isn't better for you to charge a % on the hosting instead? like 5-10% on the total revenue of the hosted rigs?
what about trust? how can we trust you?
The percentage might be better for me. I'd be willing to give him let's say 10-20% of what the rig produces and up to 33% if he can pay for the shipping. Ii would cost something like 77$ to ship 12kg, so might be worth for him or not. There's something to do here I believe. why shipping? i come up with a better alternative, you just give him the money and he build and host your rig there, you then pay for the electricity cost and give him an additional 10% of your earning for the hosting I already have rigs that I can't run here because of the high price of electricity. I've already spent too much money on those rigs that have been turned off for now. I don't want to invest a penny further into something that will break even in so much time. currently even with 40-50 cent electricity you cna make profit, you have really an electricity higher than 40-50 cent per kwh? this is crazy My rigs are profitable, but not enough for me. They'll bring me something like 60-80$ a month for 7 cards, that's definitely not worth it, considering the time it does require me to check it like 20 times a day ! why so often? Because I'm kind obssessed with them  ! I can't stand more than hour to check if there isn't a crypto-currency more profitable to mine (useless I know but that's some sort of natural behaviour) and if they mine correctly ! |
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well a rig don't occupy that much of a space, especially if you stack them up
isn't better for you to charge a % on the hosting instead? like 5-10% on the total revenue of the hosted rigs?
what about trust? how can we trust you?
The percentage might be better for me. I'd be willing to give him let's say 10-20% of what the rig produces and up to 33% if he can pay for the shipping. Ii would cost something like 77$ to ship 12kg, so might be worth for him or not. There's something to do here I believe. why shipping? i come up with a better alternative, you just give him the money and he build and host your rig there, you then pay for the electricity cost and give him an additional 10% of your earning for the hosting I already have rigs that I can't run here because of the high price of electricity. I've already spent too much money on those rigs that have been turned off for now. I don't want to invest a penny further into something that will break even in so much time. currently even with 40-50 cent electricity you cna make profit, you have really an electricity higher than 40-50 cent per kwh? this is crazy My rigs are profitable, but not enough for me. They'll bring me something like 60-80$ a month for 7 cards, that's definitely not worth it, considering the time it does require me to check it like 20 times a day ! |
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well a rig don't occupy that much of a space, especially if you stack them up
isn't better for you to charge a % on the hosting instead? like 5-10% on the total revenue of the hosted rigs?
what about trust? how can we trust you?
The percentage might be better for me. I'd be willing to give him let's say 10-20% of what the rig produces and up to 33% if he can pay for the shipping. Ii would cost something like 77$ to ship 12kg, so might be worth for him or not. There's something to do here I believe. why shipping? i come up with a better alternative, you just give him the money and he build and host your rig there, you then pay for the electricity cost and give him an additional 10% of your earning for the hosting I already have rigs that I can't run here because of the high price of electricity. I've already spent too much money on those rigs that have been turned off for now. I don't want to invest a penny further into something that will break even in so much time. |
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well a rig don't occupy that much of a space, especially if you stack them up
isn't better for you to charge a % on the hosting instead? like 5-10% on the total revenue of the hosted rigs?
what about trust? how can we trust you?
The percentage might be better for me. I'd be willing to give him let's say 10-20% of what the rig produces and up to 33% if he can pay for the shipping. Ii would cost something like 77$ to ship 12kg, so might be worth for him or not. There's something to do here I believe. |
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Seems like the conclusion of our yesterday discussion ! I'd be interested. I doubt I will ever start back my miners where I live, so sending them to you might be a good idea. I don't know how much shipping would cost and how much you would charge, but that might be definitely interesting  ! |
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Hi guys
For 4 GPU rx 470 sapphire nitro oc 4 GB and motherboard Asus b85 and CPU g3240 3.1ghz and memory 4gb ... power 850watts enough or no please help me
Of course it is enough ! A well-configured RX 470 consumes 100W. That makes 400W for the cards. A modern computer excluding the graphic cards will never, under any circumstance, consumes more than 450W, what's left. So of course that will be enough. Just make sure to take an higher grade PSU, at least a silver one. The price won't be much higher and you'll save a lot on the power bill ! |
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how much do these cost?
Propably a lot. That's funny that ASIC manufacturer talk about a short timespan to buy its products, with the reputation those companies have to ship with a great delay, in practically all the shippings. Kinda funny no ? |
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I'd say that buying any legit altcoin now will be a good idea since all sank hardly due to the Bitcoin pump occuring now. For me price of the major ones should get to its pre-pump price once Bitcoin's price will have crasher hardly.
IS not always easy for a coin that dumped so low to hit another pumped price, looked at Dogecoin, Ripple and NXT for example thise two could only dream of hit their ATH again I'm not talking of an ATH. ETH's ATH is something like 0,04 BTC, but if it only goes back to something like 0,015 BTC, from where it is actually, that will be very good ! That's true for most of the major altcoins that took a nasty hit with that mighty Bitcoin price. |
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Amazing So whats your location / electricity price?! Location is Tbilisi and the electricity price is classified 0.05$ That's just awesome ! I'm considering more and more each day to turn on back my rigs in another country, for let's say something like a year. But moving all my stuff would be painly so better would be to buy directly in the place. Is price the same than us for the components ? It would be hard to find big amounts of AMD cards on place, even I imported almost anything. I'm working on a project to build environment with air cooling and conditioning and all other necessary stuff, will you be really interested in moving to another country and paying like 5cents per kwh with no limit on it and plus the rent of the place ? Well then I guess best is to buy there and go in a truck until the place with all cards in. Yeah, that would be funny and if I do that I'll assure to get ton of cards (at least one hundred), so I would be damn profitable and might live off that for a few months until I come back to the motherland ! However, I do not plan that for too soon, maybe second half of 2018, not before. My biggest problem would be to find a warehouse that supports so high wattages though. |
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I'd say that buying any legit altcoin now will be a good idea since all sank hardly due to the Bitcoin pump occuring now. For me price of the major ones should get to its pre-pump price once Bitcoin's price will have crasher hardly.
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in value use dollar litecoin price in stable price not extrem down, litecoin still over 3 dollar
this now litecoin price in level 3.72 dollar
but if price use value bitcoin is very extrem down price, because litecoin price this now in level 400k satoshi
so bitcoin price incraese high, in altcoin use value price bitcoin is down, but if price use dollar is still stable price
That's a pretty bad argument. Only the price in bitcoins matters because however, you could have simply kept the bitcoins and you would be richer in fiat now. That's I big mistake many traders do I think. You shouldn't care about fiat, that's useless and that will lead you to bad decisions based from a flawed point of view. |
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Amazing So whats your location / electricity price?! Location is Tbilisi and the electricity price is classified 0.05$ That's just awesome ! I'm considering more and more each day to turn on back my rigs in another country, for let's say something like a year. But moving all my stuff would be painly so better would be to buy directly in the place. Is price the same than us for the components ? |
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