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Bitcoin UP, everything else DOWN.
except for the USD of course. but if Bitcoin ends up being used as a backing for the USD as a reserve currency, then that would make sense.
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This is baddish for inflation-adjusted bitcoin prices too, no? Protection from inflation is one of the drivers for bitcoin adoption. Still, talk is cheap, let's see what they really do. i used to think that but i've changed my mind. until i'm proven wrong. Bitcoin being such a technological revolutionary force for money might actually thrive no matter we get deflation or inflation. it's supermoney. as an optimist for the future b/c of technology, a shift to a supermoney like Bitcoin could actually be the cause of deflation of all other assets, which could be a good thing. a move to sound money will help everyone, not just a select few. as we see for now, Bitcoin rising in the face of the announcement. it's TIME. |
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Gold collapsing. Bitcoin up.
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but just like many ppl try to tie Bitcoin to drugs, you are trying to tie the asic pre order mining scams to POW. that's ridiculous.
btw, HF didn't start off being a scam, i can assure you. there's a case to be made they didn't even end up being a scam. they were incompetent's.
It's not ridiculous, it's just a fact. it's a fact in your own mind. why else would we be having this debate if it was truly a fact?
PoW opens people up to getting scammed by mining hardware manufacturers because they (or eventually with all PoW algos) will need to buy specialized hardware to compete with other miners.
PoS solves this problem as it doesn't require mining hardware in the first place.
that is simply an educational and early adopter issue. in fact, pre-orders have become a thing of the past as ppl have learned not to trust these potential scams. as mining hardware becomes commoditized by the likes of major hardware corps, prices will come down, and all the scams will disappear. it's already happening.
Drugs are a whole different conversation. As long as money exists (FIAT, PoW, or PoS), people will use it to buy drugs. However, crypto currencies can be made to not require mining hardware by using PoW alternatives, which solves the problem of people getting scammed by shady hardware manufacturers.
I am all for the improving crypto currencies because they align with my libertarian beliefs, and I feel like PoS is a step in the right direction because it solves a lot of issues with PoW coins. Sure, it is not perfect, but it I feel it is a step in the right direction nonetheless.
b/c POS involves no work, it is easier to scam. all the failed POS systems are evidence of this. in fact, there are no successful POS systems in place today. by tying the mining to a real world cost, electricity, it is much harder to scam. POS's have everything to prove unlike the ultimate POW system, Bitcoin. |
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by your logic:
1. Roger Ver should pay back everyone's losses at mtgox
2. Andreas Antonopoulos should pay back everyone's losses at Neo & Bee
3. Tuur Demeester should pay back everyone's losses at Neo & Bee and Cointerra
how many millions should i return to HF customers when i did not make millions?
You should at least pay them back what Hash Fast paid you to shill for them IMO, but I guess that is up to you. That is what I would do personally.. Anyways... as I said, I am paying my debt and always had good intentions. Soon I will be cleared of my wrong doings and I know that will happen as soon as financially possible. You can call me a scammer if you like, but scammers do not repay debts- they take it and run. I guess I am done with this conversation, I didn't mean to derail the thread I apologize, but it was applicable to the conversation you have to admit that ASIC scams are another bad thing about PoW. So many people have been scammed because of ASICs and so many people have lost money due to buying unprofitable mining equipment. Many more will lose money due to both of those in the future. This is just another reason why PoS is better than PoW in my opinion. ASIC mining opens up the mining community to scams and unprofitable investments disguised as money making opportunities. Just because people are still buying unprofitable mining equipment does not mean that it is sustainable, it just means that these people haven't learned their lesson yet. I'd venture to say these people will learn eventually that ASIC investing is a losing proposition sooner rather than later. but just like many ppl try to tie Bitcoin to drugs, you are trying to tie the asic pre order mining scams to POW. that's ridiculous. btw, HF didn't start off being a scam, i can assure you. there's a case to be made they didn't even end up being a scam. they were incompetent's. |
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shorts coming down. time to leverage USD:  |
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here's the problem.
your comprehension of what's fair and legal is ridiculous. just like your claims about POW and POS. what i did for HF was an endorsement at the beginning of their existence. i was never part of their incompetence later on. yes, i made a judgment error in the endorsement. but that doesn't make me liable to pay back all their customers, both legally and morally. how would that even be possible and even reasonable?
your debt obligation, otoh, are your own. made by you and personally guaranteed by you. if you are so high and mighty like you claim, why are so many ppl pissed at you, creating a thread about you, and labelling you a scammer? how about paying those poor guys interest for your late payments made on your own terms? that was a year ago, btw.
Think of me what you will, but I am paying off the debt and could care less what people think of me because of it. I would love to pay off the debt that I owe RIGHT NOW, but unfortunately that isn't financially possible for me. I cant make money appear out of thin air. It was an honest mistake which was balooned by the Bitcoin price hike late last year when it went from $150 to $1200+, and I paid off a lot of my debt when Bitcoin was valued above $800... even $1000 plus dollars. If I would of waited until now for the value to crash, I would have all my debt paid off and some savings as well. You can say what you want about your Hash Fast situation, but words are easier to come by than money, and I feel like what I am doing... paying people back means a lot more than offering an apology. Sure, you don't owe those people anything, but all you are doing is offering an apology.. it seems pretty weak considering you were the biggest cheer leader for one of the biggest ASIC scams thus far. People lost millions and millions of dollars with Hash Fast, whereas in my situation I only owe people about 5.5 Bitcoins since I have repaid most of the debt. Hash Fast went bankrupt and probably no one is getting paid back.. if they do it will be pennies on the dollar. I am paying people back in full. I think your apologies about the Hash Fast situation would mean a lot more if you actually tried to help any of the victims out a little bit- instead you do nothing but offer an apology and point fingers. Anyways... thanks for reminding me I needed to update people about my debts and how I am coming along with them. I can assure you everyone will be paid back as soon as possible. You can say what you will about it, but I know that in my heart I meant no wrong, and I am paying everyone back as soon as I can. I stopped caring what people think about me a long time ago when Smoothie was constantly harassing me about this all over every forums on the internet. by your logic: 1. Roger Ver should pay back everyone's losses at mtgox 2. Andreas Antonopoulos should pay back everyone's losses at Neo & Bee 3. Tuur Demeester should pay back everyone's losses at Neo & Bee and Cointerra how many millions should i return to HF customers when i did not make millions? |
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dickhead Coinhoarder started it. |
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BTC is a safer bet than gold imo
Not safer. It has a higher risk of going to zero. Much more +EV though. Would you rather take 30 of these:  Or 2700BTC? If you cant take anything in between? Wow 2700 BTC will comfortably put you in the Validimir club. I'd take that any day of the week  how'd you know all those bars were filled with tungsten? oh, you didn't? |
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BTC is a safer bet than gold imo
Did some math  Heres all the gold in the world:  All the Bitcoin ever mined is about 2,7 metres high cubic in gold current Spot bid and BTC bid value. Fabulous. now fit all the BTC in the world into that pic. |
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and you know Coinhoarder, any reasonable person can see that HF was totally out of my control. and the first sentence of my endorsement revealed to everyone that i was being paid.
you, otoh, have complete control of paying off your promises but haven't. and after all the work those poor guys did designing those beautful logos for you to shit on them. i actually took pity on one of them and bought one of their designs so all that work wouldn't be for naught.
Once again you fail at reading comprehension, go back and read my last post. Lol... You obviously haven't done much Bitcoin ASIC investing if you think you can still break even. Eventually people will learn this and Bitcoin mining will become centralized.
All you did was shill for Hash Fast, a scam Bitcoin ASIC company, and spew lies about them so more people would buy their hardware that never came.
That was probably profitable for you, but most people got screwed by them.
yeah, i thought i recognized your scammer name, Coinhoarder: https://bitcointalk.org/index.php?topic=316370.0Nice try bro, but I actually pay my debts in this community. Scammers don't repay their debts, therefore I am not a scammer. I have two debts which I am actively paying off. The first is a 30 Bitcoin loan that I owed 32 Bitcoins for, as of a few days ago I have paid 31.5 Bitcoin of the 32 Bitcoins owed. If you don't believe me, here is evidence on the block chain I am actively paying off that debt: https://blockchain.info/address/1MenQ9tJiGHaNwTiFJJu2g9F2qpseWzPMuAfter I pay off that debt, I will be paying off the bounty debt next, and will be free and clear of all debt owed in the cryptocoin community. You see.. I am a man of my word and am in the process of paying my debts in the community. There are many people that can vouch for me that I am a trustworthy person, I have done a lot of honest business with happy customers and/or sellers. Tell me, when will you be paying back Hash Fast customers that you duped into buying hardware from a scam company that never delivered? The only recourse you seem to be providing is an apology. I've provided both an apology AND I am paying people back... I've put in a lot more effort than you have to right my wrongs.  Furthermore (more in line with the topic of conversation), tell me how your ASIC investments have gone for you thus far. Minus the free mining rigs you got from HashFast for sending customers to their scam? here's the problem. your comprehension of what's fair and legal is ridiculous. just like your claims about POW and POS. what i did for HF was an endorsement at the beginning of their existence. i was never part of their incompetence later on. yes, i made a judgment error in the endorsement. but that doesn't make me liable to pay back all their customers, both legally and morally. how would that even be possible and even reasonable? your debt obligation, otoh, are your own. made by you and personally guaranteed by you. if you are so high and mighty like you claim, why are so many ppl pissed at you, creating a thread about you, and labelling you a scammer? how about paying those poor guys interest for your late payments made on your own terms? that was a year ago, btw. |
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Does anyone still believe that purchasing a machine for thousands if not tens of thousands of dollars to mine POW coins is still profitable?
look at the escalating hashrate. certainly someone does.
Furthermore, as energy costs and hashrates continue to rise, fewer and fewer people will get involved with POW mining.
orders of mining equipment are still in high demand. hashrate is still escalating. when can we expect this participation to die off, please? Lol... You obviously haven't done much Bitcoin ASIC investing if you think you can still break even. Eventually people will learn this and Bitcoin mining will become centralized. All you did was shill for Hash Fast, a scam Bitcoin ASIC company, and spew lies about them so more people would buy their hardware that never came. That was probably profitable for you, but most people got screwed by them. yeah, i thought i recognized your scammer name, Coinhoarder: https://bitcointalk.org/index.php?topic=316370.0and you know Coinhoarder, any reasonable person can see that HF was totally out of my control. and the first sentence of my endorsement revealed to everyone that i was being paid. you, otoh, have complete control of paying off your promises but haven't. and after all the work those poor guys did designing those beautful logos for you to shit on them. i actually took pity on one of them and bought one of their designs so all that work wouldn't be for naught. |
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quoting your opinion proves nothing. we just saw 45M NXT bought for a measly 200BTC. just goes to show you how badly the hacker wanted BTC instead of NXT. yet he still hold 8M NXT to screw around the NXT network. can one short NXT yet?
trying to physically buy up a crapload of asic mining equipment, build a secret datacenter equivalent to all the current mines out there, channel enough water and electricity to such a secret facility, hire the manpower and construction machinery to build out said center, hire the expertise to implement such hardware is NXT to impossible at this point. we see asic chip makers pushing the 14nm chip frontier while Intel is still on 28nm. and yet the boogeyman gubmint is supposed to be the bleeding edge? no, i'll take the private, open source sector anytime.
You keep conveniently ignoring what I wrote before. A bad actor does not need to buy or build asics in secret. All the hash rate centralization is already concentrated and available in the form of pools. Do you somehow believe that pool operators would turn down a buy out offer that's accompanied by the threat of government force? Or do you somehow believe ghash.io or discuss fish servers are mysteriously unknown or so well hidden that governments can't find them? This is one of the main problems of PoW in it's current winner take all form is that the economic laws of division of labor make small miners eventually obsolete. That and the fact that block rewards are forever decreasing makes centralization through pools a guaranteed fact. Even with p2p available it is not being used and majority still mines in pools with no known owners or operators. Why? Because it's simple. Path of least resistance. An average miner just wants to make a profit so he will go where the profit is greatest not some tilting at windmills I will mine alone because network needs protection BS. somehow i didn't think you were serious. and i keep putting up this chart which shows yet another backing off away from the 51% scenario that you are so worried about. how many times have we bumped up against that % w/o incident? 3x. and still no problems. there's a game theory going on here that you guys conveniently dismiss. no, i don't think a gubmint would take the legal or political risk to subvert mining operators. plus, there's too many of them and they are scattered round the world. what's to stop one of those operators from doing a Lavabit and telling the world? gubmint cannot risk that type of shitstorm. and just which gubmint are we talking about here? the US gubmint? ok, what if China or Russia is secretly supporting their mining operators b/c they are quite happy with the possibility that Bitcoin subverts the USD? what if they are secretly building mines of their own? last i looked, there is quite a bit of derision going on btwn sovereigns and war is not out of the possiblity. do you really think they all act as a monolith?  |
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Does anyone still believe that purchasing a machine for thousands if not tens of thousands of dollars to mine POW coins is still profitable?
look at the escalating hashrate. certainly someone does.
Furthermore, as energy costs and hashrates continue to rise, fewer and fewer people will get involved with POW mining.
orders of mining equipment are still in high demand. hashrate is still escalating. when can we expect this participation to die off, please? Lol... You obviously haven't done much Bitcoin ASIC investing if you think you can still break even. Eventually people will learn this and Bitcoin mining will become centralized. All you did was shill for Hash Fast, a scam Bitcoin ASIC company, and spew lies about them so more people would buy their hardware that never came. That was probably profitable for you, but most people got screwed by them. yeah, i thought i recognized your scammer name, Coinhoarder: https://bitcointalk.org/index.php?topic=316370.0 |
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Does anyone still believe that purchasing a machine for thousands if not tens of thousands of dollars to mine POW coins is still profitable?
look at the escalating hashrate. certainly someone does.
Furthermore, as energy costs and hashrates continue to rise, fewer and fewer people will get involved with POW mining.
orders of mining equipment are still in high demand. hashrate is still escalating. when can we expect this participation to die off, please? Lol... You obviously haven't done much Bitcoin ASIC investing if you think you can still break even. Eventually people will learn this and Bitcoin mining will become centralized. All you did was shill for Hash Fast, a scam Bitcoin ASIC company, and spew lies about them so more people would buy their hardware that never came. That was probably profitable for you, but most people got screwed by them. haha. stooping to new lows out of desperation now, i see. too bad, HF wasn't my fault and i had no control. yeah, bad endorsement, no question, but certainly understandable like many other endorsements made in the community: Ver for gox, Andreas & Tuur for NeoBee, etc. but go ahead, keep trying to defend POS with shit arguments. you're a prick for bringing it up and you know it. i do mine and it takes work. real blood, sweat and tears. which is precisely why it will work and no gubmint will try to 51% attack. gubmints and money printers don't want to work, they'd rather print and take the easy route. just like you and the other POS shills. you'd rather take the easy route to success. sorry, ain't gonna happen and it isn't happening. |
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look at the pussies run. now, time to add USD leverage:  |
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