I smell a scam.
well me too , i am not sure if it is asicers or the phase shift to SCRYPT |
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Can the asic miners mine scrypt currencies ?
i mean supposed the there is a new software version for enabling them to mine SCRYPT currencies (which is a lot) ?
and if yes then at what performance?
my question is mainly about the usb miners but it would be good to have an overall idea
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the new link in the other post is dead too!
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I would buy $1000 USD\LTC @ the moment ~($2.28 thats cheap and very underpriced) and sit on them for the UNICORN release of ltc on gox ASICS -- dont touch any of it for at least 3 months and then u will see the real prices that you should be paying SO the the answer is wait and buy ltc...i know its boring ..... i just want my sweet sweet ASICS !!!! ...sorry boring is the un-emotional smart money move  looks like the smart answer! umm but I am a techie guy, I mine! if no place for me i switch off machines and sleep or go whatever else i wonna do! it is a good thing that i have to admit i am not a spectulator and i do not have the stock sense. |
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So,basically for BTC you guys suggesting the USB miners in bulk/ like 100 piece instead of the unsure other basic options ?
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ummm after some research I believe the answer is two words Scrypt! (yes two words)  |
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So the bottom line is go away miners stop stacking hardware and think about buying some bitcoins Instead ? Because
- mining power as of today , and going up exponentially, are at least 100 times the demand for the BTCs ?(supply)
- daily add ups of actual and planned additional compete-against-each-other giga hashes (supply),
- crazy 5x-actual-value investments are being added to the hardware (supply) with nothing in the horizon for the demand,
- daily added governmental restrictions and sniff in regulations over trading and exchanging to cut off the original attractiveness of BTC idea, (demand)
- ....... .
I am not sure of the numbers but do we have actually a sum up of total investments in dedicated hardware that is three times the total market cap of BTC itself ?
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wow that is very aggressive!
he have not even mentioned any GPUs!
umm what about shares in ASIC companies ?
ummm (make any money/low power miners/1000$) I believe your opinion is very subjective (not going to say aggressive). for me, if I keep getting like 10% of capital as monthly revenue (maybe 5-8% as profit) for the next couple or three years then that is a very good investment!
I dunno why i felt like you are talking doom day! tera, peta, exa, zeta! no .. no .. YOTTA hashes are added in the market every day ... no .. no .. every femto second! we are surrounded with hashes from every where sier! (or princess or whatever) ... then the the star wars episode 1024 goes in (maybe again back to London)!
yes hardware race is already on, just like what we had in the PC/laptop market (i am not sure if you have lived that era - like ancient people as myself - since it is all the mobile/tablet era now) and ended up with hardware 4 times the whole world would need and all the hardware racing companies are loosing or at bankruptcy edge!
if home miners are out of business i believe BTC will be out of interest too because we will be back to square zero of a centralized (or semi-centralized) and manipulated value holder units (currency).
farther more, we all know bitcoin should be approached as a hobby (yes even when we are talking business) because its value depends mainly and only in how much we believe in it.
But the point is, in any case, it would be very wrong to look for aggressive -get-rich-fast scam or pattern and i was not asking for that!
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The topic says it all/ I am an old returning miner. Had 2 HD 6970 and 4 HD 6950 on three machines.
They have been there for since 2009.all in all good investment with its ups and downs.but wondering what's best hardware now
For 1000 $ or basic miners or basic mining shares ?
Considering the HD cards are available in local market and I guess can be sold for fifth the price when used
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I am looking for any exhcngares In Cairo, Egypt. That accept BTC for LE.
Contact me for details.
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Anyone Interested in accepting BTC for WU USD ?
Well the topic says it all. usually small monthly amounts (well as a start).
contact me for more details.
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Note. I have posted the below text in some where else but I Want as many readers and I dunno where to publish it else but the main forum. ***************************************************************************************************** Bitcoin success is about: Popularity which leads to its scarcity which leads to its popularity. ***************************************************************************************************** I know this is an old post, well sort of. not very old though but it is important o leave a note here for future visits of bitcoin supporters. Well it is not always abut mining. If you want to support bitcoin here is a list of what can be done in an ascending priority according to its importance and contribution to bitcoin cause (well up to my knowledge): 1) Leave your CPU running 24/7 while running the bitcoin client, not mining just running the client. 2) Buy some bitcoins and spend them in something you need. Even better do it on a a regular basis for let us say your weekly/monthly grocery .. etc. 3) Buy some bitcoins and hoard them as long as you do not need their value. 4) Transfer a portion of your long term investment (like retirement plan money) into bitcoins instead of gold or banks. And Finally, 5) Cut a percentage of your weekly, monthly or whatever pay check to buy bitcoins as a long term investment (Hoarding)!. This would Spread the currency and maximize its value. Of course order might be different here for some other opinions, specially about hoarding, but again it is both about spreading teh currency as well as maximizing the demand (need) for it. Couple hundred million users like that and !! Wollah! Bitcoin is major world-class currency.! And for GPU miners you can always use bitcoin GPU mining as a heating system  |
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Well yes that is true I forgot to add
10) Using GPU mining as a heating system. umm I do not think CPU mining can be useful as a heating system.
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I know this is an old post, well sort of. not very old though but it is important o leave a note here for future visits of bitcoin supporters. Well it is not always abut mining. If you want to support bitcoin here is a list of what can be done in an ascending priority according to its importance and contribution to bitcoin cause (well up to my knowledge): 1) Leave your CPU running 24/7 while running the bitcoin client, not mining just running the client. 2) Buy some bitcoins and spend them in something you need. Even better do it on a a regular basis for let us say your weekly/monthly grocery .. etc. 3) Buy some bitcoins and hoard them as long as you do not need their value. 4) Transfer a portion of your long term investment (like retirement plan money) into bitcoins instead of gold or banks. And Finally, 5) Cut a percentage of your weekly, monthly or whatever pay check to buy bitcoins as a long term investment (Hoarding)!.  This would Spread the currency and maximize its value. Of course order might be different here for some other opinions, specially about hoarding, but again it is both about spreading teh currency as well as maximizing the demand (need) for it. Couple hundred million users like that and !! Wollah! Bitcoin is major world-class currency.! |
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I still think overmining is teh problem. yet I am expecting teh invention of a new technology that can mine 100,000 BTC a day.
But teh question is how many world wide would belive in it after all the BTCs have been harvested and daily transactions are pice of cake ?
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0.0025 means one can buy the entire market for 20k USD. Get some sleep and think this over.
This thread is still going? I thought it might have "died faster than bitcoin" ha ha ha ha ha The point about the minimum "market value" is relevant here, and this reinforces it. Other threads and the bitcoin users in general have an appetite to have some coin even if only as a curiosity. A few people with $100 each supports that 0.001 price, but more likely if it got below $100k I would be genuinely surprised ($70,000 for 7 million coins is 1 cent each). At the moment it's still 200+ times tat amount. Well Actually buying the whole BTC for 20k $ is kinda over priced. As the whole project is still under development and 20k $ is not the kind of money that would any one put in something to find out in couple weeks or months it worth of 10 $. |
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The real reason behind the bitcoin death is the fact:
There are 7.5 million BTC .. 6 million out of them bought or mined at the price of (200 bitcoins for one dollar).
so no matter how much new investments to buy BTC .. there will be always a lot more BTC to dump.
Until the price stabilize again at 0.005 or in fact at 0.0025 as we are in the sell mood.
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Until then we will enjoy decorating the R.I.P Bitcoin Grave with a lot of sorrow and speculation section forum posts.
Oh, damn... I thought this was a link that would lead to a page where I could put some virtual flowers after buying them for bitcoin. loooool. well it was .. but the flower shop does not accept BTC any more! |
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I almost made a new thread but I'll simply use this thread.
I think that we're currently in a very clear dead cat bounce situation and we will actually be locked into a cycle of bouncing for a while now. This is because most people have now accepted the fact that there will be no major uptrend in the near future, so nobody is willing to drive the price to $5+.
Now what this means is that every time we go up a certain percentage, there will be massive selling pressure. A very high percentage of all activity will be simply day trading. The bag holders don't want to sell if they haven't already, because they think the price can't go much lower anymore.
On the other hand people waiting to buy are not sure if it's low enough yet and are very caucious, most likely waiting for the price to go lower.
This to me looks like we will be fairly stable for the next few months and possibly bottom out at lower than $2.x at some point. After that it's really upto the real Bitcoin economy what'll happen, if there are real developments and increased adoption, we will have a new uptrend. This uptrend will be more massive than anything so far if it takes off, but it won't be based on pure hype. Stuff needs to happen.
But an economy is not built in a day, I'm not even convinced Bitcoin will really flourish next year. It might take many years. But as long as it's functional and legal there are very good odds we'll see good things in the future.
You've just described capitalism and the free market. Well excuse me ... But i believe the CAT will be dead or playing dead for fairly long long time before she can jump up again and run.. well , fairly long enough to shake off all the leach hit-and-run miners and traders. And again, and no matter how much you say this is a repeated talk of nonsense, the difficulty is the key to look up what is going on .. but this time i say not just the difficulty .. it is the difficulty combined with the total network hash. Because the current situation is a crazy so so so much stretched difficultly with insane mining power! So the cat is playing DEAD And it will keep it like that to shake off those mine-and-run and trade-and-run leaches. Only, and it is jut the only way, the difficulty settle down at sane level combined by reasonable network hash power. then the cat will be up and running again. The only exception to that is the introduction of the law, religion, big-ass market adoption or political power (or any other similar non-sense spiritual power) to force in huge number of daily users and drive the demand up. Like in case of a residential decision to use bitcoin as the official currency for the united colonies of beavers or colored republic of birds, ummm or a sun religious direction to the sun flowers around the earth or maybe the a royal adoption by the kingdom of mars aliens... or if you are lucky some ancient writings are discovered on the great wall of ants that tells them to use only bitcoin or a lucky adoption by Assbook users, fart electronic cards around the globe , .. etc which is not likely to happen any time soon if it will at all. Until then we will enjoy decorating the R.I.P Bitcoin Grave with a lot of sorrow and speculation section forum posts. |
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Unless we get new HUGE-(like in 10 million dollars) investment-(like in buying BTC to rescue it ) .. it going to get done more and more.. maybe it will be worth of 0.00000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000001 So technically it wont be DEAD but umm let us say you can buy the whole network and Satoshi's mama for 10 bucks!  |
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