Genesis block has been mined 7 years ago - how many criminals have been tracked down and arrested with the help of BTC blockchain technology already? Even the closure of the first Silk Road was just the old-fashioned inside job.
If you could understand how Bitcoin is a honeypot, it wouldn't be much of a honeypot now, would it?
Nooo, THEY want you to think that way to encourage you to perform some illegal activity :> |
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Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
not really, maybe he has bad electricity to sustain the mining in his house, but if you have a cheaper electricity than him it can still be profitable for you so it depend, certainly i would pay far less if it is used, not like the beginning where many were buying at even higher price than the new Used mining gear is usually totally overpriced. You can even find 0,3GH USB block Erupters for about 25$. Offers with fair price are the minority of the second-hand market. Of course, you can consider doing the same thing - selling your gear with the price 2-3x of it's real value, and consider this income as a part of ROI  In general, recently released devices are more energy efficient and then profitable, than their predecessors. It will be ideal situation, if you could buy used miner right after introducing, for the price lower than you would pay for a new one. The longer you wait to get even recent model, the less time you have to make an ROI. Some keep those up as collectors though. There are some who have collected every color on block erupters for fun. I did not do it on them but I did on compacs try to get every main version. So I can understand the collecting for fun. Makes sense to me. Also, some people just want to be a part of mining community, they like the process and all things related to it - in that case profitability is not the factor to be considered. USB miners are very convenient and electricity costs are not worth mentioning, so they are ideal when you want to mine for fun |
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Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
not really, maybe he has bad electricity to sustain the mining in his house, but if you have a cheaper electricity than him it can still be profitable for you so it depend, certainly i would pay far less if it is used, not like the beginning where many were buying at even higher price than the new Used mining gear is usually totally overpriced. You can even find 0,3GH USB block Erupters for about 25$. Offers with fair price are the minority of the second-hand market. Of course, you can consider doing the same thing - selling your gear with the price 2-3x of it's real value, and consider this income as a part of ROI In general, recently released devices are more energy efficient and then profitable, than their predecessors. It will be ideal situation, if you could buy used miner right after introducing, for the price lower than you would pay for a new one. The longer you wait to get even recent model, the less time you have to make an ROI. |
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Let's start by considering what we mean by a "bank" in relation to the bitcoin ?
- a place where you can safely store your bitcoin and possibly earn the interest ?
- an institution from which you can borrow bitcoins ?
- an intermediary where you can buy & sell bitcoins ?
In the bitcoin universe these activities are usually taken care of the wallet providers, the exchanges, and the P2P lending platforms.
If we really need banks we must have some mechanism to protect our btcs. That's automatically need some kind of regulations and government guidance. So how this can be good now? Every government interference in this will cause centralization and monopol will be created. Simple and effective law securing your private propoerty would be fine. There is no need to create legislation that will take control of any other aspect of cryptos, to defend you from thieves. |
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Gambling sites are all rigged. If you win anything off them, it is because the website wants you to get that Bitcoin.
Gambling sites give back 98-99% of all wagered money to the players, the rest is pure profit. So, wins are part of the business plan - casino wants you to get some bitcoins, but in the same time they will make profit anyway. So there is no need to cheat. |
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They are not same as they all have different future vie point and opportunities for their users. But yes they are same in this manner, consider bitcoin the boss and altcoins the workers, if one grows, the other too will surely grow too.
That is not as simple. Look at may-june 2014: BTC rose from 400 to ~700$ and DOGE was constantly getting cheaper at the same time. 2013/14 hype had more factors to be considered. |
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If your not holding your coins on your own computer then you have pretty much forfeited any right to see those coins again.
I think Bitcoin banks are safe. But there are also risks associated with indeed. You can for instance be hacked. I think the safest method is that you save it on your own computer. Or the "bank" can state that it was "hacked" and then run away with your coins. There was one scammer in this forum, that officially admitted, that he just stole coins deposited for his sh*tty IPO  After all, honest thief is better than lying one |
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Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
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Well, we are reaching a technology cap for the performance of the chips.For further development we have to find something else.
The new trend will be credibility and trust.The miners will act as noteries and the miner farm owners reputation will directly affect the profit.
So, the bad miners reputation results in what? Did they scammed anyone? |
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Yes, you must have a plan to make ROI before halving and it makes sense then. Completely obsolete devices are still available from second hand at unbelievable high prices, but it's rather hobbyist's thing you could still try to sell to someone Indeed... I've made some private bids to guys selling of old S2/S3's... Some blatantly made fun of my bids (usually in the $60-$90 range for an S3 and $150-$200 for an S2). I even tried to send them my calculations, but it seems they can get a lot more from newbies that pay way to much for older HW (IMHO). Basically, you can buy an antminer S7 for $920 (without coupons), it gives you 4.73 Th at 0.25 joule/Ghash and 3 months factory warranty. Basically, you pay 1 dollar for little over 5,14 Ghash. An S2 runs at 1 Th, so following basic math, it'll be worth less than $194 (since it uses 1.1J/Gh, is old, and has no factory warranty, i always assumed $150 a fair bid) An S3 runs at 441 Gh, so following basic math, it'll be worth less than $85 (since it uses 0.77J/Gh, and has no factory warranty, i always assumed $60 a fair bid) I know, my rambling is a bit offtopic, i just wanted to let the OP know that he has to be carefull not to overpay Not sure if offtopic, as selling your old mining gear is usually important record in revenue calculations |
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I have a friend from Russia (he own a mining farm there - a normal one) and he keeps on telling me to wait until the halving is done as it could affect everything including the mining equipment's and not just in terms of prices but also in terms of pushing manufacturers to introduce better mining equipment's with a better price as to it's total offered GHs/THs ratio to whats now so and as mentioned above, just buy BTCitcoin now and invest in miners after the halving itself.
Good point. It is against manufacturers interests to release milestone upgrades, when they could consequent release slightly boosted new versions of hardware with little effort. After halving, people could stop buying their unprofitable devices at all, unless something reliable will be proposed. So it would be 'to be or not to be' situation for miners manufacturers. I personally wouldn't do it, but in some cases it might still be OK... It'll take another 5-6 months before the halving. In case you're buying second hand miners, it's very well possible to ROI before the halving if your electricity is free (or almost free, i've seen people from finland buying electricity @ 0.024cents/Kwu, but i cannot find the exact thread ATM)... In case your calculations point out that you can ROI in 3-4 months, and you have really cheap electricity, i guess you can still make a nice profit. Don't forget that a miner will always be worth something... Offcourse, the price might drop significantly if newer/better HW comes on the market, or if the price stays the same while the block reward halves, it'll still be worth something. So, my conclusion would be to look at this problem in a case-by-case scenario. Cheap hardware + cheap electricity might still work  Yes, you must have a plan to make ROI before halving and it makes sense then. Completely obsolete devices are still available from second hand at unbelievable high prices, but it's rather hobbyist's thing you could still try to sell to someone |
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If the coins fails and goes to like $50, you would of lost money either way.
You're right, but I assume that I want to invest anyway and have to choose. IMO in case of price crash it's still better to have cheap BTC in wallet, than turned off miner. |
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As everyone knows, 16.07.2016 BTC reward will be halved. How people should consider this fact when planning to build mining rig in next few months?
Bitcoin price has to rise 100% to cover the loss of blocks mined and this is the scenario that bagholders from all over the world are looking forward to be fulfilled.
If the price won't go up, miners will be screwed up.
So, the possibilities are as following:
100% price increase:
1) Mining - still profitable, have to wait for ROI
2) Buying BTC - instant 100% profit after halving
1-99% price increase:
1) Mining - becoming less profitable, may generate losses in some conditions
2) Buying BTC - investor will make profit, question is if it will be significant or not
0% price increase:
1) Mining - most of miners are screwed up, as their income also halves, only people with access to very cheap electricity have chances to still earn anything
2) Buying BTC - initial capital is just located in BTC, nothing happens
Of course I didn't consider other possible BTC fluctuations as we can't predict them.
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Thats ticky, I never mined coins so not sure, but yes probably the end of BTC ?
It's the same case if dollars are no more generated by the reserve bank and hence the coins that exist on that day would remain the same. I guess it would make the bitcoin price stable and not change anything. The miners wouldn't receive any coins for the transactions though. Coin supply is as important as coin demand. Even if all coins would be mined, the price could still be depending on adoption level. Moreover, after the possible world-wide hype, some people could conclude that they don't need bitcoins anymore, and they prefer fiat. |
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I began my career in the bictoin . In 2010 the bitcoin was worth 0.01 euro , now a bitcoin worth 400 euros. I ask myself a question: what will be its value in 2020 ?. A friend told me that its value will be 10,000 euros.  Sorry for the spelling for I am french . Thank you for your replies  in reptilian dollars? If things inside EU will keep going, EUR could be worth as much as the paper they are printed on, so then it's not bright vision of future for BTC ;] |
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It would work because to the public eye they may still see the same "dollars" (or "euros", etc.) in an account but the system has been purged where no new currency will be created and you could only loan what you actually had or borrow money that actually isn't from vapor. This would take away the creating of money out of thin air problem while at the same time allowing governments control of it and converting everyone. In the end Bitcoin does solely rely on global laws and the power of ISPs. Or maybe they can just stop printing money and "borrowing" our future. No, that would be too easy! There could be separate blockchains for covering fiat national currencies, that could not have any connection with the BTC blockchain. But how to convince "magicians" to stop "magically" multiplying money, when that is so easy as you said? |
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You could definitely earn $1 an hour in a signature campaign. Just spam in bitmixer and you can easily do it.
LOL write to Bitmixer to make this an advertisment slogan in the first post of their sigcamp thread I wonder, if campaings will pay more attention to the posts quality in the nearest future, as people are more and more often producing crappy content to boost their counters. |
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The easiest method and without the capital get enough results that the signature campaign. Some are willing to pay high signature campaign. Besides that get results much capital that is using it in any way to sell services such as creating logos, etc., it will make you get a lot of bitcoin if a lot of people interested in your services.
Compiling all safe and sure method is one of the best methods to grow our bitcoin. Multiple source of bitcoin income really must if you like to earn more. Applicable only for those average earners but can be done also by those high earners. I think the signature campaign will not last long. so you have to find another way. I really thought, sell your skills services is a great idea, if you have the skills like designing a logo or a banner or coding skills, it is much sought after by others Nah man, i think signature campaign will live forever. I mean if one sigcamp dead, someday a new sigcamp will born. and using signature is good for a company to spread the information about that company, there may be other ways to promote their products or websites, in a different way is not this forum. which is important not to rely only with a signature campaign There are several sig campaigns available at anytime, if one ends another starts. Some of them are here for over a year or two and still going well offering decent payouts. IMO all this proves, that it's efficient way to promote and companies are saying so. The only danger is that whole BTCtalk would become one, huge signature spamfest, but it's the role of people managing these campaigns to demand any post quality. |
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Soil can be a money too if it is used as an unit for exchange or make it valuable.
No, it cant. Payment mean must operate with something that is hard (or impossible) to obtain another way than receiving payment. You can't get as much Bitcoins, gold, silver or secured bank notes as you want with practically no effort. With soil, you can. hmm. I think that's maybe yes maybe no,, while the soil or an object is vworth and has a value, I think it was worth mentioning money, Theoretically it depends on amount - soil has some value, but you would need huge amounts to pay for everything you need. Maybe truck of soil is worth few bucks (I am afraid that transportation is far more expensive), but it makes no sense to use this as a payment if your mind like that. I can mention that. animals are included money? because he is worth and can also be exchanged. false analogy
Soil is everywhere around us, if you have the wish you can go outside with shovel and obtain amount whatever you like to, thus nobody will exchange this for anything more valuable. Is it as easy to get any animal? Do you can go outside and get as many cows, chickens as you want? I don't say that soil can not be exchanged, but it has such low value that make no sense to use it as a daily payment mean. |
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Soil can be a money too if it is used as an unit for exchange or make it valuable.
No, it cant. Payment mean must operate with something that is hard (or impossible) to obtain another way than receiving payment. You can't get as much Bitcoins, gold, silver or secured bank notes as you want with practically no effort. With soil, you can. |
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