Latest posts of: Starscream

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881

on: January 16, 2014, 11:13:35 PM

Quote from: Ritual on January 16, 2014, 10:55:13 PM EDIT: The following applies if you think of Bitcoin as a currency. If you think of it as a commodity, then you have to take a serious think about what makes it valuable in the first place... The only way Bitcoin will remain viable is if people circulate it. This is the basic idea behind all currencies. If people don't spend it, somehow, then eventually it will be just a code sitting on a harddisk somewhere, with no value beyond that tiny portion's value in metal. Most serious speculators realise that in order to have the currency retain (or gain preferably) value, you need to make it useful - i.e. to SPEND it. The bitcoin you spend today will help make your next bitcoin worth more. Rit. This is so true. If everyone were to just hoard their BTC than you'd effectively kill the market which will reduce the price of BTC to, well, zero. @OP - I'd advice you keep your strategy to yourself, cause as an individual hoarding BTC you won't make a difference, but if you start making threads, i.e. influencing other to do the same (by question, or even mocking, those who spend), than you're just contributing to shrinking the market and eventually, the reduction of BTC value.

882

on: January 16, 2014, 11:07:24 PM

Quote from: ammaad on January 16, 2014, 10:59:54 PM i was one of those people who ordered the scrypt miner from aplha technology. i was wondering how many others have ordered the same. sad to see so many people got scammed or waited so long for their product. hopefully all those companies have been shaken out. i ordered the 25 mhs viper. not sure when it will arrive but i might be as long as july 2014. lets see what happens when difficulty goes through the roof. I think what you meant to say is that you PRE-ordered those. Well, pray they aint the scrypt version of BFL...

883

on: January 16, 2014, 10:42:26 PM

Quote from: pbass on January 16, 2014, 11:53:04 AM Hi all, I've only got interested in bitcoin recently and bought some. One thing that I'm wondering is why would anyone spend any bitcoin if there is that much potential to go higher in value, I know that I myself would not not spend as I bought it in the hope of it going higher. If no one is really spending it what will this not mean it's not getting used apart from speculation and trading? Thanks alot Potential goes both way, such is the risk when investing. For some, who bought BTC at 10$ or even 400$, the current price is well enough for them to sell and smile all the way to the bank. All I can say is, as an investor myself (though in the stock market) don't be greedy. Be content with what you earn.

884

on: January 16, 2014, 10:32:35 PM

Sorry to read that man. But yeah, lots of ponzi scams going on in the hardware department so you gotta research well before you invest in ASIC, if you invest at all.

885

on: January 16, 2014, 10:07:45 PM

Quote from: Fastpow on January 16, 2014, 09:48:26 PM Quote from: coinminercom on January 16, 2014, 08:04:37 PM So how many scrypt miners do we have here? What are you mining atm and how many MH do you have? Im on 42 coin atm with 38MH. Mine on! If i may ask, how many rigs do you have when you're getting so much MH And if I may ask for elaboration as to which GPUs are you using exactly?

886

on: January 16, 2014, 09:47:37 PM

10k means the market will grow 10x of its current state and that no significant amount of new BTC will enter the market which I don't think will happen this year. Maybe in 4-5 years or if there will be another crisis similar to the one in 2007-2008 that will drive people to buy BTC.

887

on: January 16, 2014, 06:23:24 PM

Quote from: toi on January 16, 2014, 05:40:24 PM Hey guys, New here and doing some research on BitCoins/LiteCoins and such. A friend of mine says buying a rig right now ($2500 for a 120GH/s) is a bad deal. On his calculations it would take about 6 months to pay off the price (estimated 10% of profit back into maintenance/energy). And after that the rig wouldn't even be able to mine, because of difficulty. Is that possible? I haven't found anything online stating that some computers just `won't be able to mine` due to high diffs. So my idea is to buy a [GPU] rig to mine LiteCoins instead, so when it loses profitability I'd just sell the hardware (which is much easier/simpler to do). Feel free to post any good articles on the subject. And yes, I'm still digging through the forum looking for related info, don't hate me if I haven't reached a 6 months old post. Cheers, Toi Your friend is right, in a sense. It's not that your rig won't be able to mine, it's that the amount it will mine will be so low (and will keep dropping with each difficulty increase) that you will not get your ROI. It's like the paradox of Achilles and the tortoise.

888

on: January 16, 2014, 05:49:02 PM

Hey, I'm also a newbie and that is exactly what I'm planning on doing. Sell majority of what I'll earn and keep a bit. As far as what dare88 asked, there's no difference in terms of concept. You or the multipool will want to mine the most efficient coin at the time, the question is, who will switch faster, you or the pool mod?