The mining farm is strategically placed too. It is placed on the highlands where the temperature is cooler that helps the miners in terms of cooling. Electricity costs are also cut down because of the "natural cooling system" the miners have in that place. |
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Chinese pool ≠ Chinese miners
There are many other countries people who connect their miners to these pools to mine.
I've been guilty of this thing haha. I've connected my miners to a Chinese pool back in the days because I thought their "luck" percentage is way higher compared to those of the Western pools. Well I didn't have enough knowledge back then and I did that because of overthinking of profits.  |
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basically in cloudmining you are "giving away" your hard earned money to someone else, most of them shady services, to pay you back little by little. and not even gain any profit!
"Free BTC" as to what others would say. Best thing to do is to hodl and wait,  |
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yes, but little by little. This short correction was perfect to cool down the technical indicators and gain some fuel for further growth. Steady growth. Nothing of a kind, to da moon pump. we are not there yet. Because that is usually the last stage of the growth, when the mass public wants to maniacally buy. For now what we need is $15-20 jumps, and shallow corrections, like this last one.
Slow and steady growth is ideal to bitcoin. I admit that I do like to see massive price jumps, but as time went by and I gained enough knowledge about it, I am becoming nervous whenever I see spikes in price. |
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Just don't do it. I did invest in cloudmining and lost 1,5 btc.
You learnt the hard way.  Cloud mining is a lucrative trap for newbies.(You're not a newbie though still fell in the trap?) Mining is not profitable either at home with your own hardware or cloud mining. Maybe he did invest in cloud mining when he didn't know what he's doing = newbie. Well who knows? Mining is profitable if you have the most advanced hardware and the cheapest electricity in your house. If not, you're still lucky because you don't have to turn on the stove if you want to fry some eggs.  |
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this is pretty alarming
not really.. after all. for atleast a year, maybe even 3+ years america was dominating the mining.. Yeah, where were the alarm bells when virtually 100% of the hash power was in the US? And a conspiracy among Chinese miners to launch a 51% attack is not logical as it would hurt their businesses as much as anyone. Correct. It would definitely backfire to them in case a 51% attack happened. Not sure if being racist or not, but why are we alarmed when the Chinese gets their name on the headlines? |
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It doesn't matter how long it has been kept, the coins will still be there in the blockchain. Technically it's also not the Bitcoins that are stored, it's just that you know the private and it can be used to access the coins. Well that is provided that the guy still has the private keys to the coins and managed to retrieve it. I can't imagine the 50k that used to be worth almost close to nothing will be now worth millions.
And don't forget the 10k btc pizza! Well most of us didn't think that we will come to where we are right now. If only I took notice of bitcoins way back 2009, I would definitely become a millionaire. But nah, there are still some opportunities out there. |
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... This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page. https://blockchain.info/poolsThe top four miners (percentage of recent block wins / hashing power): AntPool: 20% F2Pool: 16% BW.COM: 11% BTCChina Pool: 7% Total China: 54%(Sort of reminds when GHash.IO briefly took 51% of mining) It doesn't alarm me and I don't really think it should be too surprising either. People make a lot of the fact that some Chinese exchanges have no trading fees, so that in thei ropinion means that the volume is fake. Nothing has proven this hypothesis though. China is about 2/7ths of the world populationwise, but they are an increasing power that is tech savvy. I don't know about the prices of electricity there, so can't comment, but I do know that they are pretty good at producing electricals, so can probably pump out a large number of ASICs at a reasonable price to start these farms. It doesn't really remind me of the GHash.IO story, because they actually had control of more than 51% of the mining, so could have double spent if they had so chosen. Here the biggest pool is 20%, which is a good thing for securing the bloch chain from future 51% attacks. China seems very big on any kind of external investment nowadays, they are buying up property, prescious metals and apparently are now dominating Bitcoin mining too. And don't forget that China is one (if not the) leading countries in terms of economic growth. Based on what I've read, electricity costs and manpower services in China is way cheaper compared to Western countries. With that said, one can easily establish a mining farm and start hashing with lower risks of losing money in the end. |
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Or should I wait for a drop?
Always buy with due diligence. And also, buy what you can afford to lose. Well if you want you can buy small amounts to average the price. But never buy in at small pumps because it might destroy you in the end. Hoping for it to drop, even at least in the $250 for me to snatch up some btc before the price rises. |
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A stable price of $5000 would be great
Don't count on Bitcoin having price stability at $5,000, or any other amount measured in fiat. But apparently we can't deny the fact that bitcoin cannot be valued as 1btc=1btc because most of the people are accustomed of seeing some prices in $$. We have to for a long time, likely forever, you need to buy btc with something, and other currency's is how you do it. But in the current times? I think it's a no. Unless we get some massive adoption then we can safely say that 1btc=1btc and we can price things with btc. |
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Just wait for the opportunity that will be coming, sell high, buy low back and sell high again.
Profit that way, profit won't be higher, but at least you won't lose them all of a sudden like one can in altcoins.
Could you please explain how you can get to that conclusion that you could lose all of the $25-$50 in a altcoin? I have never lost nowhere near that amount and i have had a few terrible alt coin investments lol Also trying to trade btc/usd with that amount is pointless you will spend most of it on fee's and that is if you manage to sell high buy low which sounds easy enough but not many can actually do it. OP do whatever makes you happy i am sure you have many ideas here to choose from. Inexperienced traders tend to end up burning themselves because of the lack of knowledge and experience in regards to trading altcoins. Also, not all people are like you who never lost $25-$50 to an altcoin. You must be super careful in terms of trading. |
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Are you saying the China Government is mining or that people from China are mining?
I wouldn't link miners in China to the Chinese Government...if they're in the BTC community they are most assuredly with us, no? Unless of course you can confirm it's a Chinese government operation.
Some independent players obviously not part of the Chinese Government. Yes, if they're into btc, they wouldn't make some regulations against bitcoin if they're indeed into bitcoin. |
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idiots... over 30 pages long over this useless thread girls are nothing more than nagging gold diggers who think they are entitled to something end of story it makes me so angry that men all over the world are being pussified into submission grow a pair and slap her in the face
No! Don't slap her! Men shouldn't slap women in the face! There is never an excuse for a man to hit, or slap, a woman. Agreed! |
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Yeah, The best thing is to keep on accumulating Bitcoins, When the price of Bitcoins will be $1000+ one would make good profits. And if it never goes that high again? Best to use the coins to do what you like. Spend them, accumulate more, trade whatever makes you happy. He's essentially getting the coins for free, so yes, he's free to do what he likes with it. That said, since he's only dealing with $25 chunks of Bitcoin, and is essentially getting it for free, why not accumuluate more? He's basically receiving free Bitcoin every month with zero risk involved. Turn that zero risk into something more substantial, rather than pissing it away on alts or mining or unnecessarily spending it. And if it never goes that high again? No skin off his back, because once again, zero risk involved.... Yup. Getting it for free is a good leverage to earn more. Why not hodl and see if the price takes it turn upward? |
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If the etf comes into effect I see 500 easily. If it flops 200-300 is probably where it will stay around
Why is this so? Any solid evidence and/or data? |
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The daughter was adorable, broke my heart to hear her say that she no longer says the pledge of allegiance anymore in school.
Indeed. But can you blame her? The actions of the authorities seem wildly OTT for the alleged crime at hand: buying and selling bitcoins without 'the proper business license'. Seriously fucked up. (Unless, of course, there's something we don't know.) Hopefully they get a little help from the senator to find out WTF is going on or at least speed up the process. JUST WHAT THE HELL? Arrested because he bought bitcoins without a proper business license? Dafuq is happening, srsly? |
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I don't know what or how the rich people think but I do have a feeling when they invest, they need to have some form of assurance that the investment can give a high potential yield and return. If they execute a single buy order something like 10 mil in short period of time, sure enough bitcoin price will rise, but they will probably end up having to buy bitcoin at higher price. So you will need to convince them.
The rich didn't get there by investing based on blind belief. They need to be shown strong reasons that bitcoin is a good investment.And if they can't find a strong reason to believe that it is indeed a good investment, they will try to innovate and exploit so that in the end they get the most profits. |
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I know this might be a bad thing for bitcoin but i am really curious to know why don't rich people buy like 10 million $ worth of bitcoin, then the price will automatically go up and sell those bitcoin instantly? even if the price only rise by 5 % that's 500 000 $ profit in just a matter of minutes
also with altcoins that have an even lower marketcap this would work even better,so why dont we see big money players pumping and dumping?
That wouldn't just happen. Imagine if the price rose that much, there would be no markets for it to be bought, because users will also try to sell their own holdings, thus depressing the buying side of the market. |
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... Although I've been told there are no stupid questions. I'll let y'all be the judge I am so new to bitcoins I am reading a book called "Bitcoins for the Befuddled"! I have looked around the internet, I've set up Electrum on my computer which seems to have generated several bitcoin addresses for me. I've played around on some of the .4 bit free bitcoin sites. I've read a little about mining - probably just enough to be dangerous... My questions are (and I apologize if this is already covered, but after four pages of the Beginner & Help forum, I didn't see them answered already): 1) What exactly is a "faucet" site? 2) What is a "signature campaign"? I've seen those mentioned here as ways of earning bitcoins, and I've seen campaign pages, but nothing really explaining what they are are what to do with them. 3) Is mining worth the trouble/expense? I have read that solo mining is a waste of time, and that pool mining is the only way to be "successful," but for pool mining, does one need to invest in high dollar mining equipment? Is there any use at all for the little USB ASIC(?) miners? I guess that's good for starters Thanks! 1. Faucets are sites that gives every user some btc. But those free btc aren't worth the time and the effort of the user so it's advisable not to waste too much time on those. 2. Signature campaign is a kind of advertising done by websites/services. They offer it to the forum members, particularly those that have the rank of Member or higher, to avoid spam and nonsense posts. Instead of posting banners or ads, the websites/services uses the members to promote their services by putting their signature on the signature space. 3. Mining isn't worth the trouble if you go solo. Chances are you'll end up paying for a high-energy bill. Even if you mine in a pool, you probably won't get the cut. The best chances to be successful in mining is to have the most powerful hardware available in the market. And a single-miner won't help. |
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To say 10 min per block is only statistically right.
You might see several blocks mined in a row in a few minutes but in another time none for an hour.
Height Age Transactions Total Sent Relayed By Size (kB)
346427 29 minutes 46 1,773.59 BTC BTC Guild 21.74
346426 29 minutes 217 607.58 BTC F2Pool 119.97
346425 32 minutes 772 6,959.44 BTC BTC Guild 416.73
346424 46 minutes 320 1,659.23 BTC F2Pool 155.84
346423 51 minutes 1010 8,987.83 BTC F2Pool 507.12
346422 1 hour 10 minutes 614 6,597.82 BTC KnCMiner 417.55
Yes, I understand that. My question is about average waiting time for a block. Is the average time until a new block is found always 10 min no matter how long I have waited, or does the average waiting time decrease the more time has passed since the last block? Edit: I'm waiting for a confirmation right now, that's why I'm asking  The average time is 10 minutes. But as to what nextblast have said, several blocks could be mined in a row and there could be none for an hour. |
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