Many miners are willing to wait until the bear market ends to take their profits.
Indeed, unless they have financing payments that won't wait. I wonder what percentage of ASIC purchases are done on credit. |
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Toilet paper? Fire starter?
You forgot wallpaper.
I can't laugh too hard though. The loonie is too closely connected to the greenback.
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it does increase the profitability for the most efficient miners in bitcoin terms
Yes, I can see a better return in bitcoins, but it's the cash value which determines profitability IMO. Obviously earning a 50BTC block reward in 2012 with a cash value of about $5 per BTC for a total of $250 was nowhere near as profitable as winning a 25BTC block reward when bitcoins were worth $200 earlier this spring for a total of $5000. |
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10 Fridays and we may be able to use CPU miners again  Edit: Oh, and by the way... probably 10 Fridays and I'll finally receive by BFL ASIC...  hehe Calculate the time to ROI now!  ? The cash value of a 25BTC block reward going down will somehow make GPU mining profitable again? I was hoping that a return to pre-bubble-burst prices would increase profitability enough to offset the wait for my BFL ASICs. Still might happen. At least I got my order in before they doubled their prices. At the peak of the bubble my estimated ROI time was 3 days. |
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i'm sure we will see some more bubbles in the transition phase from commodity to currency
Bitcoin's more of a ball than a bubble. It just keeps bouncing. |
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As it stands with 27 votes cast, I'm curious who the 25% are who think bitcoin will never again break $110, when it is currently $1.21 (or about 1%) away from doing so???
trolls |
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Seeing that I just bumped the other age poll thread, I'd better bump this one too.
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I just noticed this poll which appears to have been started before my almost identical poll. I'm not sure why I didn't see it when I looked through the off-topic folder to see if an age poll already existed. I guess I'm blind.
What's surprising is the difference in the responses.
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49% are 50 year olds investing into bitcoin, and the other 49% are 15 year old kids who either scam or think they are captains of industry. The other 2% are the 30 something libertarians.
LOL Makes me wonder about the average age of miners. The price of ASIC mining hardware might exclude some of the younger aspiring miners, although BFL Jalapenos are within almost anyone's budget. Script kiddies would probably have to make do writing mining trojans. As for us old farts, we can usually afford the hardware but by the time it ships, difficulty levels have outpaced our investment. Until my $650 BFL LS arrives (hopefully before autumn) I've shut down mining for the summer. I heat my place electrically and the savings on my heating bill made GPU mining marginally profitable this last winter. |
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Just curious.
I read somewhere that the average Bitcoiner is a male, white 30-something libertarian.
I also read about a Bitcoin-accepting merchant who said that in her experience, Bitcoiners were of all ages and lifestyles.
Am I the only old age pensioner here?
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"MANIPULATION - NOT PANIC"
More likely both. The manipulators just start the downward trend and let panickers finish the job.
When the panic slows, the manipulators buy back in.
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LOL there's only one big difference here. I am not running a business.
What? You're not a "professional" online poker rube?  |
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Yup, its crashing. People finally waking up to the long term reality. So when you cashing out?
LOL I realize I'm new around here while you've been around longer, and I should show respect, but this needs to be said. Obvious troll is obvious. |
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You didn't offer the option of >$80 so I didn't vote.
I would never consider selling for less than triple digits.
My current sell bids are 10BTC each at $150 and $180, placed after I bought at $97 in early May after selling for $165 at the peak of the Dead Cat Bounce.
The bulk of my bitcoins are in cold storage waiting for the price to reach quadruple digits.
I'm waiting to see what happens in a few months when all those startups we read about following the big conference in California start buying bitcoins to build reserves.
Panic is panic and selling low is foolish. This isn't some company that's facing bankruptcy. It's the most powerful peer-to-peer network in history.
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GPU mining is over, though. With all the ASIC's coming out, it'll be more or less useless.
Depends to what level, if the thing does say 1000MH/s it's not bad as long as your not paying for electricity, if you were at a company that has a few of them it's even better, OS X I've found is very easy to run a miner on and find it to be stable. >>>1000MH/s it's not bad as long as your not paying for electricity<<< Or if you're paying to heat your place electrically, and then only in the winter. All those watts being turned into BTUs may slightly lower your heating bill but they'll be costly during AC season. |
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I think you're putting the cart before the horse.
Pretty much any computer can host a USB FPGA or ASIC miner, even a rooted Android device with an OTG cable and BFL's Android mining software.
The trouble is that as more and more ASICs are shipped and as difficulty skyrockets, FPGAs are rapidly becoming obsolete.
That leaves ASICs as the only practical solution and waiting lists are so long as to make them a questionable investment at today's prices if you have to wait until difficulty is in the hundreds of millions to get delivery.
So, it seems like you are telling me that it isn't even worth investing in any mining upgrades? Unless you can somehow get a really good deal on an ASIC miner with a delivery time in weeks rather than months, it's borderline at the moment. I paid $650 in February for 30GH/s worth of BFL ASICs, and I'm worried about breaking even because difficulty levels have gone parabolic with all the ASICs shipped recently. Now they want $1250 for 25GH/s and are talking about not shipping any new orders before next year. |
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Hello i need a bitcoin loan plz me your offer and rate(interest)
Sure, I could give you a loan. 7% interest per week, compounded hourly. First send me: a scan of your government issued ID, a scan of a recent piece of mail showing your current address, your telephone number, your social security number, your mother's maiden name, your credit card number (and expiration date and security code from the back of the card), and a picture of you with a shoe on your head. And a one page description of what you are going to use the money for and how you plan to pay it back. Oh, and you will have to give your bitcoin address to send the funds. How much do you need? >>> a scan of your government issued ID, a scan of a recent piece of mail showing your current address, your telephone number, your social security number, your mother's maiden name, your credit card number (and expiration date and security code from the back of the card), and a picture of you with a shoe on your head.<<< ***Starts photoshopping frantically*** |
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I think you're putting the cart before the horse.
Pretty much any computer can host a USB FPGA or ASIC miner, even a rooted Android device with an OTG cable and BFL's Android mining software.
The trouble is that as more and more ASICs are shipped and as difficulty skyrockets, FPGAs are rapidly becoming obsolete.
That leaves ASICs as the only practical solution and waiting lists are so long as to make them a questionable investment at today's prices if you have to wait until difficulty is in the hundreds of millions to get delivery.
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I thought 5 posts and 4 hours was enough to get paroled.
I guess I should fire my lawyer.
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