A: OpenCoin prints another 100 Billion XRP and laughs as fools lap it up like homeless cats drinking sour milk. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.youwall.com%2Fwallpapers%2F201112%2Flittle-cats-drinking-milk-wallpaper.jpg&t=663&c=j7ObHDztdQzp1g)
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considering all the factors, what and how are you calculating your profitability ? What returns are you expecting on your money in the next few months ?
The profitability is, if Id just invested in buying BTC rather than mining them, Id have been a lot more profitable...
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What are the best options?
Take the money you want to spend on an ASIC and BUY BITCOINS. This is BY FAR the best option. The price right now (~$100) is GREAT. Wish I had done this. Ive had insane amounts of money tied up for half a year waiting on ASICs, and if I had just bought BTC like a lot of SMART PEOPLE told me to, Id have made more money than I ever will mining. Dont do it man. DONT DO IT.
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OpenCoin's business model consists of holding 50% Ripples and hoping they appreciate in value.
Just dont get caught holding the XRP bag people: http://en.wikipedia.org/wiki/BagholderSad Google is investing in Opencoin, really sad actually. It gives it some legitimacy, but the reality is that Google cant ever control BTC so they cant invest in it. They want stakes in things that they can CONTROL. Bitcoin has value because no one person, government, or corporation, like Opencoin, controls its. This is where it derives most of its value.
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That story has been pushed for months by Newsmax, which is basically a conservative propaganda machine. Its not journalism, its an agenda being masqueraded as journalism. Really, Im down on the US Dollar, the Fed, Treasury, etc, but the USD is FAR better off than almost every other currency. The problem with our economy comes down to jobs and the fact that most of the money being made is going to fewer and fewer people. Minimum wage (~$8/hour) isnt a working wage, it isnt sustainable. Its one step above slave labor and indentured servitude. http://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_StatesAt a certain point, The People will revolt. Thats the real threat. Bitcoin is part of this threat.
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OK, I understand English isnt your native language but still, this is barely comprehensible.
Basically, mining is a grinders game. The margins are slim and its a big gamble.
Buying BTC is the way to accumulate a shit-ton. Its almost always a better value than mining if you believe BTC will go up longterm.
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Authorities always want to strangle that which they cannot control. But the Bitcoin train has left the station, and it cant be stopped. They could shut down Gox, BTC-e, XYZ exchange whatever, new ones will pop up like its a game of wack a mole: http://en.wikipedia.org/wiki/Whac-A-MoleFurthermore, you will ALWAYS be able to buy Bitcoins locally from the people who mine them: https://localbitcoins.com/They cannot stop the BTC transactions themselves from being conducted. They can disrupt Bitcoin and try to slow its growth down, but it cannot be stopped, period.
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Ive read some outrageous things on here, but thats ridiculous and if someone is paying 5BTC to slander Ripple, then I should get like 50BTC.
I totally agree with you, cdog. You're the undisputed king of slandering Ripple. Wait...you do realize that "slander" means to make false statements about a person/entity, right? No actually I didnt and I misused that word. I thought slander was a synonym for defame, its not, shame on me. My goal is to defame ripple, expose it for what it is, a for-profit scheme, which if not technically a scam or pyramid, offers no real utility. Ripple has 3 major issues: Its not decentralized (a huge security flaw), the currency it uses was issued and not mined (OpenCoin can simply issue themselves more), and interest free debt has a negative expectation (as someone who has loaned a lot of juice-free dough to friends, I can speak to this personally). I think Ripple brings a lot of interesting ideas to the table, but its implementation of those ideas is terribly flawed to the point of making it worthless. I dont see how it can possibly have a longterm future, so my goal is to help people educate themselves about this reality, so rather than putting time, effort, and their hard earned income into supporting it, direct them towards BTC and LTC, which I believe strongly will both be around for many years - at least until someone is able to create something better, like perhaps Netcoin, but thats still in early development...
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"I am an employee of OpenCoin"At least you are honest about that. Everyone has to earn a living, but man, I dont know how you sleep at night.
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Don't forget that an OpenCoin Inc employee stated that if BTC gets 51% attacked, you lose all your bitcoins (you don't), but if Ripple gets attacked, you still have your XRPs (that's correct). I hope he's incompetent rather than purposefully misleading.
dont listen to this guy, he offered up to 5BTC to some people to post on this forum that Ripple is scam. Nobody is gonna give away thousands of dolars just because he is good guy and he thinks ripple is scam a people should know it, he has got some side interest and wants Ripple to fail. see https://bitcointalk.org/index.php?topic=145506.msg1544079#msg1544079and here you can see he already payed more than 20+ BTC to spread his message https://bitcointalk.org/index.php?topic=145506.0Ive read some outrageous things on here, but thats ridiculous and if someone is paying 5BTC to slander Ripple, then I should get like 50BTC. Im as outspoken as ANYONE on BTCT about how Ripple is destined to fail, and I was never offered a nickel. If I was offered money to do so I absolutely WOULD ACCEPT IT because I truly believe Ripple is CRAP, and I LIKE MONEY, but I dont need to be paid to express my opinion forcefully. Also, why would someone pay hundreds of USD in BTC per person when for probably 10 BTC total they could have 100+ people mega spam the board with Ripple-hate? It makes no sense, whatsoever... If poker taught me anything its that if you are going to make up lies, at least make up believable ones. The truth is, a lot of really smart people just see right through Ripple. We see it for what it is. A con to separate suckers from their money.
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Mostly poker, but also payment for personal loans and debts. Ive also bought some video cards from BTCT members, and various items at https://www.bitcoinstore.com/Also Ive bought pizza using pizzaforcoins.com
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"People can buy things with Amex points. That's a real kind of currency that's created by American Express to allow them to have a greater piece of consumption that they otherwise wouldn't get," said Bremmer.
Wow, Im seriously dying here laughing. I mean, he seriously just called Amex points a real currency. You cant make this shit up.
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BFL = Big Fucking Liars ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) Only reason they didnt go bankrupt yet is BTC went from $10 to $100 which saved them as people spent tens of thousands of BTC on preorders.
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LOL wait for 2nd gen ASIC, ordering now is a waste of $
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