So if I don't have ASIC miner at least, then mininig isn't worth it?
Currently, (assuming you pay for power) it will make a very small return if at all. The time to ROI hardware is getting longer and longer by the day. Something drastic would have to happen to the entire crypto community for this to change. ASIC has no ROI even if you have free hosting and free electricity. Unless you get huge discount when buying, you should consider the entire venture as an expense rather than a revenue. |
|
|
|
So what you're trying to suggest is buy up most coins, and dump it when the price goes up so that someone else gets burned?
basically yes deep down I believe that any acitvity that results in profit without generating actual value (goods or services) should not exist and is unethical, but that's utopical. it's free market, you will get burned many times, and you don't know if you are burning someone else or not, maybe price goes even higher and your actions didn't directly burn anyone. If you dump, the buyer knew his risks. If you are assuming the risks, it's ok to make money from it (or so goes capitalism). Go free trade! go libertarianism! go liberalism! we have the liberty and freedom to burn each other while richs get richer! yay! buy many POS IPOs, you'll loose in some, win in others, and develop a sense of smell of what to buy and when to sell Bitcoin started without any actual value. You can still argue it has no value today. Free market itself works in a mysterious way which I doubt any of us mortal truly understand. |
|
|
|
People no longer accept litecoin, they accept darkcoin instead.
You have an example on who accept litecoin and then later replace it with darkcoin? Not that the answer is important, but both coins are going to disappear not too distance into the future. |
|
|
|
A small amount of regulation is generally healthy as there are many people that are very gullible, as well as the fact that it if often difficult to do due diligence if there is zero accountability on the other person's end for manipulating facts. What the kind of regulations we are seeing in some states that cap the interest rates that borrowers can be charged is causing is the least credit worthy borrowers be shunned from the credit market because it is illegal to charge them an interest rate that is appropriate for their credit/risk profile.
Right. Even will full due diligence, there is still possible for scammer to scam, the reason government and court need to exist in the first place to enforce the contract and agreement between two parties. |
|
|
|
|
Bear already lose out to bull when coin pass 515 resistance.
It will hit 650 in September.
|
|
|
|
BitSharesX is making huge gain today. And went up when just about every coin is going down.
40-50M market cap gain in one day make it the best PoS coin of the year so far.
It's only the best for those who had the luck to buy early! It will obviously be dumped soon. Imho, the best is Peercoin. It's surprisingly stable for a crypto, and it has the best distribution of all PoS coins. Which exchange allow bitsharex trading? I doubt they can dump it so early when it is still new and few buyer to dump to. |
|
|
|
If Internet has shut down, the whole world will affect not only bitcoin. So I think living without the Internet nowadays is impossible to happened.
Yes, it's possible if some authority decide to shut down Internet but hope this will never happen. There was an editorial in the WSJ today that highlighted the thread of a nuke being detonated over North America. It said that the EMP would do serious damage to the entire country. I would argue that this would be the only real way to shut down the internet and/or "ban" bitcoin. It's not that complicated. Remember that woman in Georgia that cut a few cables and two countries were left offline for two days? The internet is just a bunch of computers hooked with cables , cut 4 or 5 of the most important ones and chaos will rule. http://gizmodo.com/5912383/how-to-destroy-the-internetWhat's even more scary is that the power grid is pretty similar. There are only a few places through which a lot of the electricity passes (at least in the US). Although, I would imagine that a lot of places could still get at least some power from local power plants. I'm not sure how all of that is set up. To power up your house you only need your equipment. Solar panels , wind or gas generators. In the case of the internet you don't only need your computer and your equipment but you also need the others to have those and in place plus a way of communicating with them. You can have your own power plant but you can't have your own internet. Didn't realize the internet required so many "things" to work properly for us to use it. Bitcoin and blockchain are highly depended on the internet to operate without a fuss. So if internet is to go down, so too will bitcoin and blockchain. |
|
|
|
It amazes me that there are people out there who throw away their hard-earned money on daily and weekly lotteries for years/decades, but scoff at the idea of buying and holding bitcoin for at least 12 months. Bitcoin is about a 1M : 1 chance of a return over a jackpot lottery ticket.
I guess it's the same mentality though, wanting just to get rich quick or not at all.
So true. Money is better spent on bitcoin than on lottery ticket while the odd of getting nice payoff is better on bitcoin. |
|
|
|
|
Ethereum manages to raise a lot of btc for the project. So, the consensus is they will be the best PoS coin in the future.
|
|
|
|
Catching pump and dumps is easier said than done. I do it, but I am pretty cautious about it and take profits quickly. These are very risky -- after the initial pump, many coins just die.
The odd of being wrong is also high. Did your winning justify taking the risk of losing often? |
|
|
|
It's never the average people who are at the forefront of innovation. The next bubble will be fueled by smart money. Frontrunners. The kind that frontruns other kind of Big Money. This is also why the price hasn't gone up already, they know how to accumulate without raising the price.
What? Can't you see the massive contradiction here? First, you're claiming that smart money will fuel the next bubble. Then you go on to claim that smart money are accumulating coins without raising the price?  As soon as it is profitable to do so, and not necessarily by using their own money. Eventually, as the supply outside exchanges dries up, something will have to give. Smart money doesn't get rich by making you and I rich. They will do very little at the beginning of on-exchange buying, and let the hype pull people in to do the real work. Yes. And it appeared there are a lot of dumb money are invested in bitcoin now. |
|
|
|
There's alot more money waiting on the sidelines than we think  this is probably true, but how will it enter the market? when? i don't think most investors -- even retail investors -- have any interest into putting money on these exchanges, especially after Gox. we need the ETF.... and that could be a while. The money can bet on either direction and not just long as most users here assume. |
|
|
|
|
US used to be an immigrant country which welcome anyone willing to work hard and bring in talents.
Guess time has changed. Welfare abuse is not discouraged while hard working is now being criminalized.
|
|
|
|
|
Coin like this is bringing a bad name to all altcoins as well as bitcoin.
Free speech is really a double edges sword.
|
|
|
|
Again, LTC being a scrypt coin and capable of being mined by scrypt ASICs in and of itself has nothing to do with monopolization or centralization.
LTC was built in order to be an "ASIC resistant" coin. This is important because a coin that can be mined on commodity hardware (CPUs, GPUs and even FPGAs) is inherently more resistant to centralization. In any case "ASIC resistant" seems a very difficult goal (if possible at all) to achieve, and it was clear that Scrypt was not "ASIC resitant" at all. The Litecoin value proposal has always been dubious, despite of it being an interesting (and probably necessary) experiment. Now that Scrypt ASIC are in the wild and that its been proven that being x4 faster and having a x4 monetary base compared to BTC has a negligible impact on usability it becomes clear that there is nothing significant that LTC can offer us. The LTC/USD value will likely just piggyback the Bitcoin value. The LTC/BTC value might grow at some point, but just because at this stage an incredibly big part of the market doesn't really understand crypto and acts in an extremely irrational way. Is that really true? LTC's primary purpose was to be ASIC resistant? How the heck did I miss that? I really find that hard to believe since it's a far stretch of the imagination to call something "ASIC resistant" just because an ASIC hasn't been fabricated for that purpose yet. It seems *very* shortsighted (unless you're an LTC dev and wanted to make a quick buck). I was under the impression that LTC, aside from making some superficial changes to the total supply and confirmation times, was intended to be more of a BTC failsafe, i.e. if one network fails then we have another. I didn't realize ASIC resistance was even a consideration, but I did assume that the fact that people could still reasonably use CPUs to mine LTC when it was introduced was one of the reasons scrypt was chosen as the mining algorithm. The whole point of LTC is "ASIC resistance". Someone invented the LTC and instantly get huge support from miners because profit for bitcoin was switching from GPU miner to ASIC manufacture. The development team did a half ass job when it come to infrastructure and marketing. There is no public wallet service for LTC I know of and there are few merchants accept LTC for payment. The coin will probably fade away unless someone step in to build better infra or do better marketing. |
|
|
|
|
How can they guarantee the service to always profitable?
Coin price go up and down and many will eventually go bust. Can they guarantee long term survivability of scrypt coins?
|
|
|
|
|
There are reported of miners using GPU to mine CrytoNotes.
Check out the mining sub-forum for more information.
|
|
|
|
ethereum reminds me of ripple
Ripple is still on the top 3 spots in term of market cap. While it didn't replace bitcoin, it manage to pull out a lot of money from bitcoin market cap. |
|
|
|
|
Panic selling is over, price is going back where it is suppose to be.
|
|
|
|
Please, do not dismiss this message. Bitcoin price going to <$100, returning to mean from 2013 due to market inflation and china leaving the game. This is burn off phase.... cut your loose before it's too late!
<100 is not the end of the world. It will only kill speculators and big mining farms. Overall ecology might be healthier when there is less speculation. |
|
|
|
|
Show Posts
