Bitcoin mining has gone much more mainstream now. With the rising popularity, profits will continue to plummet.

This year, near the end, profits will go to just a few cents above break-even after paying power, and you'll only be able to mine and get ROI if you are paying at least less than 0.1 k/W.

That's sort of just the way it is. It's a race to the bottom now. Like wages that multinational corporations pay, they go over the globe finding the place to pay the least. There will always be someone willing to do it (anything, mining whatever) for less profit than you, so it will go down down down until it is not any less profit any you would not be able to mine.

Sorry you got on the boat so late, the great easy profits that once where for different periods are probably mostly gone after the next few months, and will not return.

short version: mining is popular now, so it's a race to the bottom, profits will fall much more.

Ya I've been burned so many times.  It really sucks.

A community like this starts quite small and the people who are in it are generally technology enthusiasts, you are more interested in the hobby then making money.

But because BTC has exploded, now a days it is just rife with scams. After losing money to that thieving bastard Ukyo (and WeExchange / Bitfunder) in my latest of three times of I've been scammed just this year, I've basically given up on a lot of the Bitcoin economy.

I'm hoping development will continue on decentralized exchanges. For now I've pulled all my resources out of different securities, services and exchanges, because all the fucking scum of the world scammers, like Ukyo for example,  have gotten on board bitcoin and are just wrecking it for everyone, making it really hard to trust anyone to do actual legitimate business with.

I'm 5% less angry now.

(5% is something but it isn't that much).

So like WHAT HAPPENED TO OUR DEPOSITS AND STUFF?

sorry if I'm spamming.

I'm not an expert but I definitely know a lot more than a lot of people posting in this thread.  I'm generally right in my predictions of price movement.  I bought in around $15 a bitcoin initially and mined before that, so I've seen it go up and down since then. My comments still stand, I think they are reasonable... if you don't agree that's okay, but no need for petty sarcasm.

Okay you think a 500 bottom is dumb. (So far it seems reasonable to me.) What do you think the bottom will be?

It's really easy to sit back and point out how some folk's speculations are wrong while not contributing any thoughts on what a 'correct' speculation is.

Reading your OP I can only think of two reasons why you'd post it:  a) you are really bad trader or investor, and got butt hurt about losing money recently (whereas I made a good profit)     b) you are just trying to spread fear in some weak attempt to push prices down further so you can buy back in.

Anyone who bought at 1200 is not very wise.  You never buy anything at the peak of a bubble. It's no surprise to lose money if so, that's a really dumb idea.

I told my friends who wanted to get into Bitcoin to wait until after Xmas where I predicted the price would be around $600. And I still think I'm going to be right.

Wow folks have lost a lot of perspective.

Funny when there is a crash, always a big flood of posts, mostly from bitcoin newbs, saying the sky is falling.

Things really aren't that bad. 2 months ago we were less than 200, now it may stablize around 500? Oh boy ya what a nightmare, more than 200% in 2 months. Oh noes oh noes sell sell bitcoin is finished ! lol, this is pretty silly. A 250% gain in price! Whew what a crash !

The Chinese position change really hurts but overall it isn't like a death strike to bitcoin like many are making it out to be.

I'm pretty happy about it. I sold most of my bitcoins between $200 and $400 and now will be able to buy back a few coins...

As was saying in the one of the other threads on this, the 'legal reasons' Ukyo does not want to tell us what happened are much likely along the lines of 'I can't tell people that I gambled with all of their deposits, and then continued to take more deposits to pay off interest on loans,  because that'll make me more culpable in a court of law'  then instead of some reason like 'FINCEN took my coins and told me not to tell anyone so I can't share it for legal reasons' .

The 'legal reasons' Ukyo can't tell us what happened are self-serving, the legal reasons are for him, not us.

Oh and hey thanks a LOT for fucking up my Christmas Ukyo. You are not going to be able to walk away from this, with 2 million owing to random internet people. You really fucked up man.

I just hope that if the link isn't posted today people will stop being strung along. Been trying to show people how this works for weeks but I haven't been successful yet apparently.

My guess: link won't be posted, instead we'll get a small update about how something last minute went wrong, and then 'a lot more details will be coming really soon' kind of post.

I hope I'm wrong! Let's see what happens. So far it's exactly as I've been saying for the last month and half...

You got your hashing rates mixed up, a gpu can do 700 megahashs, not kilohashes, for scrypt coin mining.

The 'legal reasons' why ukyo doesn't want to tell us what happened to our deposits is most likely in self-interest.  I.E  it isn't another legal entity that is preventing him from telling us what he did to the coins, but instead it is more likely he just doesn't want to tell us because it would increase his legal liability.

I.E again he doesn't want to say "sorry I was gambling with all your money that you deposited and lost it because I'm a pond-scum scam artist,  and didn't let people know I couldn't pay them back because I wanted them to keep depositing so I could pay interest on loans I took out"  rather than that, it serves him better to say something like "I can't say what happens because of legal reasons". It's completely self-serving.

Again this just seems the most logical and reasonable guess to be made at this point, judging from what we have seen, and what he has said, and what he has shown with his actions. It's almost been over 2 months...it's sort of a joke we don't even know what happened.

Furthermore I don't think legal recourse would be effective at all in this situation but sure would at least make me feel better at the $1000 I have lost. If I was American or had more than $2000 lost here I would be headed to Texas, but I'm not, so am just going to try to get about $100 worth of bitching about this in to make me feel better.

Hi guys I'm completely unfamiliar with trade fortress.

Could someone give me like a one or two line account of what happened here? 

On a side note the amount of scams in Bitcoin is really getting ridiculous. After my latest scamming, losing money deposited to bitfunder, I'm given up trading and any exchange or security and won't be back until a decentralized market is set up, I recommend folks to do the same. Can't stand scammers they drive me crazy.

I hope so man, but talk is cheap.  This may be the case. But doesn't it worry you that we haven't even heard of what happened to your massive investment of coins at this point?

200 btc is a lot of money I don't know how you can be so nonchalant about it. Sincerely hope you get it back but I guess I'm not as trusting as you, all the signs look really, really,really bad here.

Can you guys stop squeezing more hash out of your KNC's please? I'm getting really jealous...!

It's a gamble. Basically KNC is the safer bet, CoinTerra is the riskier one (with more reward). That's all it comes down to.

I lean towards CoinTerra because in the world of BFL's 'pre-orders coming in 2 weeks', KNC's reliability can not be understated. Cointerra is unproven at this point.

After waiting 3 months for my Avalon to arrive I'm personally never doing preorders, but ya, KNC is about as reliable as they get and much better bet than many other makers, such as Avalon.

I don't know how they compare to other asics as this is my first, but really, they are generally easy to set up I think for most people. Keep in mind only the folks with problems post here mostly, not all the others that only spent 5 minutes setting their's up.

I've had a lot of trouble with mine but even still think it was a good buy and am running really well now after some fussing about. Been awhile but I think it was about the same amount of fussing about as getting GPU mining going smoothly when  I started.

Wow good work on the hacking guys.  a 18+GH Jalapeno is a sweet overclock. Nice work...

My cube miner has been a lot of problems

Had all those problems getting it working in the first place. THen it worked for a few days okay.

But now the hash rate is really low. It averages around 26 GH on low and on high crashes with X X X X X X X's. Sigh.

I swapped PSU's to a 500W Gold certified with 30A from a 700W PSU and no change.  Sigh... !

edit: My BAD, my cube GOOD.  Seems my mining proxy running on one of my GPU mining rigs either desperately needed a restart or was just too over-burdended to feed the cube fast enough.  Now I'm hashing at 32 GH at low clock speed setting. Going to move the proxy to a mining-free computer and get my Seasonic 1200 W and now I'll really be able to see what this baby can do (currently can't maintain 'high', but thinking in proper settings my cube may even hit 39 or 40 GH on high )...

Good work on RSM

I got out two months or so ago because I needed some BTC but been following, and looks like the growth plan is going great.

Ya this is exactly what I predicted would happen a few weeks back. We will get a bunch more 'updates' that tell us nothing until they just stop altogether. I call it the 'BFL it's coming in 2 weeks' manoeuvre.

Let's look at this really simply. Dude is responsible for over 2 million. That's a lot.  He won't even tell us what happened to them. Why could he not tell us? What valid reason could their possibly be for not telling us what happened.

First it was a 'bitcoind problem'. The money was there he just couldn't get to it. Now over a month later this has changed to 'the coins are gone'.

So I'll make another prediction for some of you with your heads in the sand.

We'll get another update saying that 'big news is coming in a week' and then when the big news comes again it'll be along the lines of 'We are getting close to a solution but we can't talk about it. We should have this wrapped up any day now! Will post an update next week.'  Then two more of those, and in a 1.5 months or so he'll disappear. All the while people could have actually done something but where strung along.

(I'd be THRILLED to be wrong.)