Mining profitability is bad enough before factoring in billion dollar space missions  |
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Brutal for miners income for sure, but this is great for Bitcoin as a whole. This is a crazy amount of computational power, which means the network is all that more secure. Obviously miners arn't buying miners because they want to make a fortune. We really need a fat BTC rally again to offset this rocket ship rise in network power.
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I would say yes this is a typical scam.
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In a sudden collapse scenario only things of barter value will be useful, like food, water, and ammunition. Assuming the worst, Bitcoin needs infrastructure to operate, and if the grid goes down Bitcoin isn't going to be all that useful. With no working economy based on a medium of trade using a currency, the choices are then trading or taking by force. I think Bitcoin could be a fine replacement for our current economic system in time, but we're not there yet to fend off a massive currency collapse in a 100 year old established institution. It is very difficult to predict what happens now, we just have to see what happens. Seems BTC is up today with 4 days left for a decision that basically decides the fate of the global economy. |
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Bitcoin has one problem in that it requires power and Internet to function. In a post-Dollar scenario lets say, there is a good chance the grid goes down. If US dollars are suddenly worthless, all businesses would stop working, and commerce would shut down. Currency then would be whatever has barter value.
Digital currencies are not holding nearly enough of the economy as a failsafe against major currency collapses (globally), and the things that Bitcoin requires may not be operational again for a while.
Plus if there is no more Dollar exchange, a Bitcoin will only be worth what a Bitcoin can buy
Though I hope that because of Bitcoins open source nature and ease of adoption using existing technology, that it may surprise us with how fast we could move to a new economic system. Though not without some amount of pain either way.
Hold Bitcoin, maybe some precious metals, and also stock up your pantry and make sure you have emergency supplies for a prolonged blackout. Prepare for all scenarios, as it is impossible to predict what happens next.
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I think ultimately it's a good thing. The SR closure has dispelled the notion that Bitcoin is only a thing because of the drug market, and the wide spread coverage of this story has seemed to be fairly neutral of Bitcoin. The market certainly did react with a little sell off, but historically is negligible. Hopefully this leads to a better perception of Bitcoin as an authentic currency, and that its prominence is not driven solely by the Internet black market as was once believed. It was an important moment that Bitcoin is holding steady after Silk Road went down.
Plus, Dread Pirate Roberts was an idiot of the highest caliber and is the sole reason for Silk Roads downfall. He only got busted because he made a bunch of careless mistakes easily tracked by the FBI. The technology that drove Silk Road however works perfectly, and SRs closure was not the result of the FBI breaking TOR or Bitcoin security, but simple police work accomplished with a few warrants and basic deductive reasoning.
There are already several copycat sites in the works to replace SR, and I doubt they will be as careless as DPR. The FBI "victory" will be short lived.
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I think it depends on what the markets do. This news hasn't hit the world fully just yet, but it will.
Confidence in the US, and US bonds in particular, has already been waning, and this will likely shake that trust tree even more. Countries rapidly selling off bonds in the aftermath of our vacuum government could have a detrimental effect on things.
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So, you want to start a mining pump and dump scam?
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There is no reason to believe anything they say. They have not once provided accurate information about anything they do.
Ditch these jokers and buy hardware from companies that deserve it who have actual hardware on hand, is shipping it right now (TAV, ASICMiner, BPMC, etc), and doesn't make a mockery of the community every time they (by they I mean that lunatic Josh) show their face here.
If you hop on this train of lies that is the Monarch, no one is going to feel sorry for you when you get screwed over.
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Many initiatives have been posted but it seems none of them have borne any fruit as of yet. This is still an important project however, I hope a team does come through at some point. Bitcoin is only as decentralized as its underlying infrastructure, inter-coin trading needs to be moved off of private exchanges. Exchanges will still have a use as a crypto-to-fiat converter, at least while fiat money is still worth anything that is.
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I think it will be far worse than 16%... No, the federal reserve doesn't dictate the markets, everyone just thinks they do.
Actually the stock market is completely divorced from economic reality at this point. The FED elected not to taper (in part, plus the entire global economy would tank if they did which means the FED is backed into a corner it cannot escape now) because even whispers about a possible taper sent the markets into a hissy fit. At some point a massive correction is going to hit the world like a freight train |
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This is the end game, the FED has basically admitted now that it can't stop QE and has no exit plan of any kind.
Though the unthinkable approaches as fiat nears its end, I can't wait to see how Bitcoin responds. If it was anything like Cyprus we may be in for a big surprise.
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Well, at the moment there is a massive mining glut forming. This means there is far more hashpower coming online than market price will support to make a meaningful return, which means if you want to see a return on your gear quickly you must invest quite a lot of capital up front. This is true for both Litecoin and Bitcoin mining, though Bitcoin more so.
Either this, or buy some miners knowing full well that they will never break even in today's market, and hope like hell that it changes later (ie, market price goes up, hashrate levels off as ASICs reach market saturation, either of which makes mining more profitable and less risky to enter).
The kicker is no one knows where it goes from here really, just learn as much as you can and make an informed decision. Know your reasons for mining, and know the risks involved before spending a single penny. This is all based on a great monetary experiment with no known outcome positive or negative, don't spend what you can't afford to lose.
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If you want to be taken seriously then stop with the "it's not fair that I didn't know about Bitcoins when they were cheap to buy/mine". If you want to *make a difference* then copy & paste plus minor alteration is not the way (it would be a bit like every band just copying the same #1 hit and changing the lyrics slightly and expecting they should all get the same fame).
Show me at least a few bitcoin clones, which were made with clear idea and had a few differences, except changed name, number of coins in block and total amount of coins. I know three: Litecoin, because it was first crypto currency, that uses scrypt, Ripple, because it is not bitcoin clone at all, and Primecoin (XPM), which uses unique algorithm and have scientific value. All other alternative crypto currencies are scam and useless trash. BTE/bytecoin is the closest i kno of  Bytecoin is a straight up Bitcoin clone worth the attention of no one. |
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Promotion means nothing without something to back it up
Thanks for your reply, and you make a very good point Operatr. So let me tell you what that something is that backs up The SolarWind Mining Company, it's people like BRADLEYPLOOF, this guy is a true believer in the bitcoin ideology and he was donating his own time and BTC to promote bitcoin long before he started to promote the company. I couldn't have asked for a better spokesperson, he works hard, takes the initiative and acts accordingly. He is so enthusiastic about the project that if I'm not careful he'll take over the whole thing and he'll be running the whole show!  Here is what else backs this company, me and my determination to help every partner to succeed. I am committed to fulfill my obligations and stand up to my promises, there are only two things that can stop me from doing so. One, that there isn't enough support to get SolarWind up and fully operational (unlikely since BRADLEYPLOOF and I are probably to stubborn too let that happen. With a small rag tag collection of people running GPU miners to buy their shares and a handful of hopeful investors or with the support of the greater bitcoin community, either way, well get it done!) The second reason, I die and no one else wants to take care of SolarWinds partners the way I will. I could say that we have umpteen million bitcoins and a whole bunch of other fancy resources, but none of that, even if true, would compare to what I just described about BRADLEYPLOOF and myself. And I know that BRADLEYPLOOF's kind of enthusiasm is contagious and if SolarWind had a handful more of dedicated people like him, nothing could stop SolarWind from succeeding, even if it hit The SolarWind Mining Company with a Mac Truck. So, to show you how serious I am, I'm giving everyone that has replied above my post in this thread and not in the main thread a free BitShare worth 0,01 BTC. You don't have to do anything else except claim the BitShare when the website is up and running and when The SolarWind Mining Company is fully operational and mining bitcoin, your going to profit a total of 1 BTC just for the little 'bit' of time you invested in replying to the post of my good friend and one of the best business partners one could ever hope to have, BRADLEYPLOOF. I thank all of you for your time, and I wish you well in all your endeavors! ~SolarWind, A Bitcoin Mining Company Well, I do then wish you success I completely support the idea, I think all miners should be looking at the green power initiative. Miners are only as good as the power grid, independent or nearly independent power helps ensure the survival of Bitcoin and derived digital currencies. I intend BlockBurner to someday utilize green tech this way as well as a beacon on sustainable business. I have a fairly critical eye on these forums so I don't mean to be negative, though I do find a lack of deployment schedule/ROI figures/ startup capital needs/ etc a bit off putting along with fairly new accounts here. More details in this regard is what I would be more curious to see, though the share plan has been mapped out. That aside, best of luck with this I hope to see it take shape. |
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It's been in the OP for quite a while  |
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You might try presenting something that looks like an actual business plan opposed to a vague post. "Hi guys I want to build an ASIC please supply money and I'll figure out the rest" isn't good enough.
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Promotion means nothing without something to back it up
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