Anyone who bought at $1,200 on FOMO got what was coming to them. By then the train had already left the station many miles ago and it would be like trying to get on by jumping onto it from an overpass as it was traveling 80 MPH, but not looking down the tracks to notice it was about to go over a bridge that was out..

Last year during the winter I ran enough rigs to keep my house warm on all but the coldest nights without using the furnace. In fact, on many days unless it got below 0 degrees outside I had to have one or more windows open to keep it cool enough inside to be bearable. Even though electricity is more expensive than gas is my area for heat, with the dual purposing of mining and using the heat to warm the house it offset the electrical cost somewhat.

This year I am only running a few rigs mainly as hobby and they act as nice space heaters, but I still need to use the furnace routinely for heat and no open windows this year.

I have a few rigs left over from the scrypt and other alt coin mining days that I keep simply for playing around with and recently switched over to mining Eth. Currently I have 6 AMD 7970 GPU's running and I make roughly 1 Eth per day from each of them, or 6 Eth daily total when pointing to a pool. I should also point out this include present pool bonuses that are being offered so in the future this will go down somewhat with both increased competition and removal of bonuses. I am probably currently mining 5.2 Eth per day and get ~.8 bonus.

So in my situation, and already having the equipment (meaning no initial investment to pay back) I get the following:

6 x 7970 GPU's running at ~200 watt draw each (from wall including overhead of CPU/MB): 1,200 watts/hr

My electricity is fairly high in my area at $0.13 kw/h, so I have: 1.2 kw/h x $0.13 x 24 hours = $3.75/day (rounded up) in power costs.

Eth has been selling for between $0.80 - $1.60 in the past month, lets use $1.20 average: 6 Eth /day * $1.20 = $7.20

So on average, for the past month or two I have been not quite doubling my money  $7.20 income - $3.75 power = $3.45/day profit.

It is winter here, so I do get a bit of benefit from the extra heat which I do not take into consideration in my calculations, but as you can see if I didn't already have the equipment it would not be worth the investment in hardware. Of course Eth could go up in price, but often the hash rates catch up to keep the profits from mining minimal, so you would be better off just buying them and speculating on price appreciation if that is your goal.

I will keep at it until the break even price goes below 0, as I look at it currently as getting half priced Ethereum, but again this is from more the hobbyist perspective than someone trying to make any money off of it.

It's certainly possible. With the upcoming block halving there will be some immediate pressure on the price once the fresh supply of coins being generated is cut in half. Considering bitcoin has already hit above $1,000 in its short lifespan, I do not think $10,000 is too far-fetched.

If/when that point in time comes, I cannot help to think how many people will look back at the recent $200-$450 range and ask themselves why they didn't buy as much as they could, similarly to how people now sometimes regret not buying back when btc was trading under $20.

For example:

Bitcoin price January 1, 2013: $13.55  People buying at the time "no way bitcoin would ever be worth over $1,000"  $13.55 x 10 x 10 = $1355.00 (came close in Nov 2013)

Recent Bitcoin price: ~$400  People buying at the time "no way bitcoin would ever be worth over $10,000"  $400 x 10 x 10 = $40,000 (hopefully some-point in the future)

I hold approximately 75% of mine for long-term growth and play around with the other 25%. This is mainly in the form of trading on the exchanges, but I do spend a few occasionally on business that accept bitcoin, mainly online.

I do this kinda the same way I trade, if bitcoin is up enough, I feel brave enough to spend some knowing it will probably go down at some point in which I can replace them cheaper. For example, I spent a few just before Christmas when it was around $450 and I just replaced them now that it fell under $400 again.

Updated both a Windows and Linux Mint installation to 0.11.2 and both are working great so far. Had to move the block-chain folder off the SSD boot drives to 1 TB spinners I added on both machines as well. I am trying to be proactive to get in front of the growth seeing how it has jumped in the past few months.

I agree with this sentiment as well. If bitcoin rises to $800 anytime soon, I believe FOMO will easily push it to $1,000 or more. This based upon factors such as the upcoming block halving, people will be thinking of repeat of 2013, plus there is much more publicity and investment in bitcoin and surround tech that there was in 2013.

If I had a bitcoin for every time I heard or read something about its demise, well I would have a lot of bitcoins. Guess time will tell, but seeing the rather mild dip in price attributed to the news it seems most people are taking it pretty well.

I would like to join.

Name: Za1n
Post count: 315
Rank: Full Member
Bitcoin address: 1HvhhKjYFLVAsvEXLADFNDWW4est3DKGGd

Thanks for the straightforward answer, as I only skimmed the last few pages to try and get the gist of things.

So from what I gather, since my withdrawal didn't instantly happen I guess I am SOL then.

Well heck. I only found this thread after having several withdrawals held up on Cryptsy in the "Pending" status for some time now, and this is NOT what I was hoping to find.

So has anyone had a recent withdrawal request go through, or is this it, another exchange shutting down?

It was last $8 before the halving, now the price parity would be closer to $16. Of course this is based simply on coins being generated, not the supply on-hand, so I would guess a bit lower, maybe $12. Of course, if BTC continues and regains $1,000+ territory, the sky's the limit even with LTC.

Wow, checking in and seeing the price is down. Wondering if it is a good time to buy some more. Any news/events causing the dip, or just normal markets?

Likely due to the fact that that's pretty much the break-even point for miners.

A good place to start:

https://class.coursera.org/bitcointech-001

I would pick 10-20 coins and invest a little in each of them with the expectation you will be trading them often. If you sort by market-cap and look for coins with good volume over the past 6 months you should do well. By having many coins, you should always be able to buy low and sell high as most coins will go through peaks and troughs over the course of a month or two. This will also minimize your risk should a coin go under, as if you are paying attention you should only be accumulating once a coin's price has fallen so you should be able to get out if needed at a minimal loss.

For being a dead coin, this topic sure sees a lot of activity. I think LTC still has some life left in it, but it will shoot up when no one is expecting it.  Litecoin is dead, long live Litecoin!

I would spread it out among the top 10 or 20 coins by market value. Try to look for bargains and buy up when the price is low. Most coins will fluctuate over time, so you could even make a bit of profit buying when they are low and selling when they are high. By spreading the investment out, there will probably always be ones you can buy/sell on a regular basis.

Yeah, 12 hours may be a bit much on a daily basis. Could start out with some small walks to break it up or something. Myself, even when I spend time at the computer I have some small dumb bells nearby I will work with, along with some hand strength grips. Anything extra you can sneak in on a daily basis can help. Probably at minimum get up and stretch once an hour, maybe do a couple of jumping jacks or something...

Have you emailed them asking this very question? Perhaps if you and a few others let them know there is an interest in utilizing bitcoin for payment, perhaps also mention a bit about a payment processor such as Bitpay, they may consider adding it.