Hello fellow miners,
So the question is: Is it a wise investment to begin mining Bitcoin and other SHA-256 coins right now? What I mean is for a newbie to start mining today or in the near future, will they see any profit? If they do, what kind of equipment are we talking about? $100? $500 $1,000? $10,000? Or should a newbie invest in Bitcoin itself??
Thanks,
TheDiamondMiner
I think the consensus says Buy and hodl for your lowest risk (yet, still high risk) "investment" (spekulation) Those of us who are either really smart, crazy or stupid spend as much as we can stomach on mining rigs. |
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I'm in fiat debt to the banks irl but have been building my virtual roll via BTC for a while now  Eventually I will cash out what is needed to pay my debts but for now the value and potential value increase in BTC outweighs the interest I'm required to pay.. I actually took out more money from my bank line to buy more BTC during the dec crash- fuck it either brilliant or stupid, time will tell. i hope it's the former. |
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"Capitalism about freedom. The true test for people is if they support freedom or they support force. Capitalism (not crony-capitalism) is voluntary. "
This argument is the same as Christians, Communists, Marxists, and even Fascists all use to justify their group. You wash your hands clean by claiming all negative attributes of the ideology "aren't REALLY us, it was our idea being twisted."
Can somebody point to any period in human history where "Free Trade Capitalism" existed without a heavy reliance on slavery, child labor, mass inequality?
None? That tells me all I need to know about Capitalism where you must have a winner and loser.
When the winner no longer has any competition their next step is to manipulate the society so future competitors can no longer challenge them. This is when it becomes "Crony".
What about when your born into a rich family that owns the Government, the police, the maffia, and the businesses. You get the social connections, the best schools, private trainers, and wealth while I am
born into a family of poverty with a worthless school and none of the above so that I can go to work in one of your factories.
Technically "it's volunteer" but not really.
There are flaws with all of these Government systems. No good solution has been found.
I know, Capitalism is the worst, all those first world nations that have adopted it will never succeed....... Actually, I look at is "these nations have succeeded despite not adopting a truly Capitalist system." We have a mixed economy with the ever increasing reach of government controls will ensure that this breed of "captalism" is doomed to fail. The top 1% has created quite a mess for themselves. |
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Consider to invest in coins instead of mining.
Buy all type not only BTC.
Where do you purchase your altcoin? |
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I know the main concern for attack is a DDOS attack. I have a static IPV4 address for my home network. I'm concerned that if my IP ends up on a malicious user's, or bitcoin hater's, shit-list that I may become a target. I am confident in securing my network, but I'd like to hear what network appliances people are using to protect their mining operations.
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First off, anyone who is mining is doing so because, to some degree, they believe in Bitcoin. I want to accumulate as many bitcoin as possible, but I'm not comfortable nor do I have the time to trade currencies. Yes, I agree that mathematically speculating directly on the Bitcoin may be more profitable. Maybe. But, then again in depends on the time frame you're looking at as well as if/when you sell your Bitcoin. Also, it should be noted that the USD continues to decrease in value and will eventually be worth less than toilet paper because its so abbrasive
There is a much more simple way to look at it. First, who decides the value of Bitcoin? Well, we do, actually because we pay what it's worth to us. That being said, I view my speculative bet on mining hardware as a very simple bet. If I had bought my Neptune with bitcoin, it would have cost me about 14 bitcoin. But I purchased with USD, so I'm already ahead of the game because I haven't spent any bitcoin, but I've acquired a method to create bitcoin.
So, as long as I'm able to mine more than 14 bitcoin I have succeeded. Oh yeah, and I still have the machine and depending on its performance I can sell it or continue mining into the sunset.
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I even got this mail this morning. I tried to extract it by right clicking and clicking extract here. I got a error and found that it is a malicious file. HELP ME!
Assume Crash Positions!!  |
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Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field) Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all. It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me. Why does that make sense? Paypal has nothing to gain from being against bitcoins. Paypal is not a form of currency. Bitcoins in no way threatens their profits and business model, and bitcoins is not competing against them in any way. My guess is OP did something else to piss them off and they had no choice. I mean, if you are doing a million dollars worth of sales like you said, then all they stand to do is benefit from your service. So you most likely did something wrong you aren't telling us. It makes sense because Paypal's business is based on processing transactions. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Do you see the connection? No I don't. Paypals business is based on secure, safe transactions. Despite what everyone here will tell you, paypal isn't doing this because of profits. They're doing it to help combat fraud, which to me sounds 100% understandable. It says right in their policy you can't sell bitcoin miners or bitcoins, yet OP did anyways which is why they froze and put holds on his accounts. Combat fraud? I guess you missed the "HIT GOLD" section, and besides he is selling computers (miners) not bitcoins. Is it true that their terms of service forbids selling Bitcoin mining hardware? Even if it were true, ASIC for sha256 don't have to be used for Bitcoin.. |
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I fucking hate paypal but I dont see any case here.
Antitrust? They'll let you sell Dell computers, but not BFL computers. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Yes, but nothing Paypal does is going to have a negative impact on Bitcoin adoption. They have two choices: entice customers to do business with them, or drive them away. I didn't think we were talking about how Paypal could sabotage Bitcoin. I thought we were talking about their unethical business dealings with the OP. I don't think anyone believes Paypal has the influence to cause much of a stir. |
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Getting back to the purpose of this idea, OP wants to create press coverage.
Can anyone think of a better way to create press than naming his daughter Bitcoin?
I think there must about a billion better ideas for press coverage.
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Less than 48 hours left; over 170 votes so far.
So what? This isn't a community vote. Just someone decided to run a poll. It will be forgotten the day after it closes. Sorry I don't like this poll. Poor choices. How about someone start a thread for suggestions that should be on the next poll which is, I hope, endorsed by Admins. |
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Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field) Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all. It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me. Why does that make sense? Paypal has nothing to gain from being against bitcoins. Paypal is not a form of currency. Bitcoins in no way threatens their profits and business model, and bitcoins is not competing against them in any way. My guess is OP did something else to piss them off and they had no choice. I mean, if you are doing a million dollars worth of sales like you said, then all they stand to do is benefit from your service. So you most likely did something wrong you aren't telling us. It makes sense because Paypal's business is based on processing transactions. Once more people start using Bitcoin for their transactions, Paypall will do less business. Less business means less profit. Do you see the connection? |
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5 more spots till I go to print.
Did you want me to do anything besides post in this forum to reserve mine? |
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Something seems...fishy about this whole story. I've never heard of Paypal having anything against bitcoins, especially the actual hardware used because it's just computer hardware.
There must be something else in that mess of a wall you're not telling people.
I agree something is fishy with this story. It's not just paypal that does this, all merchant accounts have high risk departments that hold customers money for a certain amount of time. Paypal is just one of the worst because so many of their customers are joe smo's who have no merchant processing backgrounds and deal in high risk/high chargeback businesses (like selling used equipment, and in a notoriously chargeback friendly btc field) Best of luck to the OP suing paypal though, seriously. Good to see someone really fighting. Hope that works out well for you. IMHO, I don't think this will go anywhere, at all. It makes sense to me that Paypal is at odds with Bitcoin, therefore have decided to use these tactics. It's believable, to me. |
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This guy is a wizard in economics, but the thing with bitcoin is that it is such a new concept that there is no way for any economist to truly wrap their head around its potential (positive or negative).
I have a hard enough time thinking about the implications. |
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So, presuming that none of the 2 Th/s machines of today will give a ROI because you didn't jump on them fast enough, what hardware will be coming down the pipeline next that will do a ROI?
There are so possibilities right now only one or two moves ahead, I'm not sure how anyone can look 4 or 5 moves ahead at this point like you're asking. There's so much flux right now that everything is capable of changing very quickly. |
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I'm glad others chimed in on the gateway drug fallacy. It amazes me how our of touch some ppl are.
How are they taxing the bitcoin transactions?
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This is a disgrace. Marijuana was illegal for a reason you blind idiots. So many people are going to die from overdoses of heroin, and crystal meth. It's a well reported FACT that marijuana is a gateway drug. I fear the worst for America at this point. It's very possible that this will spread and become a pandemic infecting everyone in the U.S. I can picture it now, over 75% of the population addicted to crystal meth. What was colorado thinking? Not to mention all the high drivers destroying cities. My head is spinning. It's so sad because we were very close to winning the war on drugs, it's public enemy #1. Think about it... If it went on for a few more years, we might just beat the bastards. There was a lot of money funded into the drug war, rightfully taken out of our taxes. (that's the duty of every free American). The pot users( TERRORISTS, CRIMINALS) are going to ruin this country. I fear i must renounce my citizenship and move to cyprus. They have some proactive ideas. Freedom comes at a hefty cost these days. One Cypriots are willing to pay. I won't stay here and watch the downfall of what was once a beautiful country. It truly sickens me to see a country go this low...do you guys remeber the dark ages? a priority wasn't placed on drugs then...look what happened, nothing no progress. When drugs became illegal and privatized everything took a turn for the better.
So no banks at all in the US can have anything to do with Cannabis dispensaries?
All the money generated and no taxes? Get real people. Unless it's going to backfire to all the people caught up in the exuberance and charging them with tax evasion on untaxable income...sounds reasonable sadly ROFL. Yeah, because its a "gateway drug". |
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