I have to say that this statement at least makes sense. If there is oversupply, that explains why the price is not going up.
The supply rate is KNOWN, but the demand is UNKNOWN. Thats why you cant predict btc price and bubble. |
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That statement means one thing: bitcoin is very affordable right now. We already know the bitcoin's inflation rate and this is by design. This is how bitcoin can be distributed accordingly by adoption rate.
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Well I was wrong but I do not see the asic builders reasons for adding huge asic power.
if they can build .8 watt per hash machines they no longer need us. all they need to do is sit in a room and add hashpower very slowly.
it is in their best interest to limit growth under 10% and mine more then sell.
Holy cow, the garbage spilled from your mouth. Spend your btc for better education will ya? |
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Pftsshhhh stop hating, it's fun and connects people together across the globe. If only Obama would do it then challenge Putin too and they can try and 1-up each other, I think stuff like this helps motivate peace.
Andreas should do it and challenge Ben Lawsky to afterwards.
am i talking to a 10 yrs old? you know what, Kim Jong Ill can do that ice bucket challenge to cheer your hope up and nuke your fcking family the next day. Does that make you smile in "heaven" ? A better challenge would be, destroy your own nukes and challenge your opposing party to do the same. Obama, go first. |
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this dude got some balls.... after the bit license was announced and all.
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oh pls, enough of this fcking "challenge"
If ppl really cared for humanity, they wouldnt nuke the fck of each other. What a bunch of hypocrites.
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dumbass, once the majority of mining equipment is made by one company, you're at the mercy of that company. You must think you're so smart and MBP is stupid huh?
You did take stupidity to another level.
Can you not see the difference between a single giant 20MW DC and a few hundred franchisees? There is no reason to offer a franchising program like this other than to spread the hashrate. I honestly can't fathom how you think MBP giving free hardware makes them greedy when they could keep it all for themselves. In case you didn't already know, bitfury/MBP doesnt need our help to increase their hashrate. MBP can easily build their own massive datacenters without selling/franchising a single miner to the public but they chose to go with the method that distributes the hashrate. But you will probably ignore all this because you seem set on the idea that anything that has to do with bitfury is bad. You must think all franchisings are not for profit? Having 50% of of a watermelon is still bigger than a whole 100% of a grape fruit. I'm sure they've made enough that capital isnt an issue so why didnt they put their own capital (afterall you said warehouse and operating cost is cheap) and gain 100% revenue? |
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Everyone here is wrong. Franchising with megabigpower is clearly the way to go. https://megabigpower.com/infoYou get as much free hardware as you can power and get to keep 50% of the revenue. Their next gen hardware (guessing bitfury next gen chips) is now almost complete which they claim will be 0.5 w/gh at the wall. This seems like one of those too-good-to-be-true things. I would love to see some people who've used this service. LOL its actually not good. They take 50% of revenue, you have to pay operating cost. Add that with how quick the rigs depreciated compared to your capital (warehouse). The whole strategy here is to completely push manufacturing competitors out of business. They're doing nothing but centralize mining power. Btw, OP if you actually have to ask the question in the first post, you're looking at a wrong venture. I'm not sure you have a clue what you're talking about. Free hardware = good deal. Who cares if they take 50% of the revenue? It's free hardware.. You can build a 1MW DC for $100-200K and fill it with 2PH worth of their hardware (50% being yours). How can you possibly say $100-200K/PH is a bad deal? The next best deal is S3's at ~900k/PH. An S3 farm would use slightly less electricity usage once you factor in the extra 50% required with MBP franchising but it is not going to make an $800k difference. Also I think you should look up the meaning of centralization as the goal of the franchising programs is literally to promote the opposite. dumbass, once the majority of mining equipment is made by one company, you're at the mercy of that company. You must think you're so smart and MBP is stupid huh? You did take stupidity to another level. |
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ppl still keep feeding this fcking troll?
can you all do the community a favor and ignore the troll so he stop making this kind of threads?
Its like talking to a barking dog, you're just wasting your time and encouraging the barking behavior.
And i'm extremely sorry to all the k9 outthere for comparing this troll to you guys.
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The game is over unless you like loosing money.
Or you can just buy btc and use it either as currency or store of value I'm tired of all the dumbasses got suck into bitcoin (usually they heard about it on mainstream media) and think,- " i want to PRINT MONEY!!!!!" Most of these fcktards are all about "making money" without ever knowing BTC IS MONEY. For example, This is where I'm coming from...
Once I can no longer profit from mining, I'm done with BTC. I'm simply not an investment speculator. And I see no real advantages with buying BTC on an exchange and using it to make purchases. I'd rather just use a credit card and have consumer protection.
I'm not a libertarian and bank failures and politics scare me less than BTC potentially dropping to zero.
In my opinion, the extinction of home miners will ultimately cause the failure of BTC. Home miners actually use their BTC stash as it's intended, to make purchases. Although they just usually spend their saved BTC on new mining gear, lol. They also hoard their earnings while large-scale mining operations continually dump their BTC and exchange for fiat. Which will ultimately causes the price to crash once home miners are completely out of the picture.
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Everyone here is wrong. Franchising with megabigpower is clearly the way to go. https://megabigpower.com/infoYou get as much free hardware as you can power and get to keep 50% of the revenue. Their next gen hardware (guessing bitfury next gen chips) is now almost complete which they claim will be 0.5 w/gh at the wall. This seems like one of those too-good-to-be-true things. I would love to see some people who've used this service. LOL its actually not good. They take 50% of revenue, you have to pay operating cost. Add that with how quick the rigs depreciated compared to your capital (warehouse). The whole strategy here is to completely push manufacturing competitors out of business. They're doing nothing but centralize mining power. Btw, OP if you actually have to ask the question in the first post, you're looking at a wrong venture. |
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I've written two guides on mining, you can have a look at them here: link 1 link 2Number one is about hardware mining and number two is about cloud mining. You should be looking at cloud mining if you'd like to start with just one Gh/s. The guides were aimed to non experienced users so I think you'll find them particularly useful. right.... another cloudmining scam. This is what we need for newbies huh? |
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My ASIC manufacturer claims they have military encryption applications for their chips. Thieving bastards also claimed they would ship me a miner 6 months ago. They're definitely crooks and liars but it possible there's some truth to this.
rly? Military Encryption applications, you bought that?? That's more embarrassing than pre-ordering a monarch. LOL you're very close..... the only company made such claim is infact BFL. |
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The other side of the coin: This opens the trading for everyone
If categorized as money, then buying and selling bitcoin will need some money transmitter license and follow many anti-money laundering and other laws for finance institutions. That will make normal people more difficult to buy bitcoin
If categorized as capital goods, if you buy and hold, you never pay tax
nailed it. Stupid regulators, Also looks like the guidance says for <$10000, there wont be capital gain tax. |
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So who the fuck gets profits from mining? someone has to do the mining for Bitcoin to function and everyone is told to forget about it so...
so who the fck gave birth to an idiot like you? seriously? are you this fcking dumb? |
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If there is a net decrease in computing power on the network (because some people stop mining due to a lack of profit) then difficulty will decline. There will always be someone who is mining. The margin miner (those with lowest efficiency and highest operating costs) will quit first. When they do the difficulty will decrease and the profitability of the remaining miners will increase.
If difficulty is proportional to network hash capacity, then perhaps that solves that aspect (as long as the threshold is set so that sufficient mining population breadth is preserved), but what about the "halving" mechanism? It decreases profitability just as surely as increasing difficulty! Perhaps miner population breadth is a predetermined casualty? All that can survive are the very largest miners (and perhaps even then, only for awhile?) How free can how much electricity, warehousing and maintenance be? Dumbass , look at 2011 and learn from there. Use your brain once in a while can you? You call me dumb ass, fine! I'd like to believe BTC is for long term real, but am having difficulty seeing how. Would you please explain? What are the holes in my argument? Many thanks  ! You want me to spoonfed you? I already told you where and what to look for. Or you're just being a troll here? (worse than a dumbass) |
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A review of your posting history reveals you aren't just trading through exchanges but also sell directly. No wonder you were banned.
Yes, my business is entirely based on buying Bitcoin near market rate and then selling to individuals. I learned the hard way that banks don't allow this sort of business. That being said, I only used the bank account to purchase Bitcoins, not as a medium to receive money from customers. Gee talk about ignorance, why did you think its ok to do what you do? Did you have MSB license? |
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I've heard this happening way too much. I have an account at wells fargo and used to transfer my bitcoins from mining to my personal account. So far, I haven't had an issue, but I have only transfered a little bit since last December, before banks really knew what bitcoin was. The best thing to do is never mention bitcoin, I wonder if coinbase is on their radar.
We all want banks to eventually go away, but right now we have to have them, no other way to turn our coin into fiat when needed. Well, there is, but its a pain. Buy gold, have it shipped, then sell gold at pawn shop. That may be the future of selling coin, but for now, Im hodling but it would nice to know that my account is safe..
Bitpay, Coinbase or Overstock can apply for their own banking license if the banks are stupid enough to close their accts. We're talking millions of dollars monthly here. |
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