Its boggling me that how noobs want to mine so badly

[seriouscoin]

So tell me, why?

Even tho its a clear trend that only industrial mining has a chance to profit.....

[weather b0y4]

Because they think it is stupid buying something that they can get for "free" by mining. I imagine that they learn fairly quickly though  

[seriouscoin]

Because they think it is stupid buying something that they can get for "free" by mining. I imagine that they learn fairly quickly though  

First and best answer !

[sifter]

Because they think it is stupid buying something that they can get for "free" by mining. I imagine that they learn fairly quickly though  

The irony in that though.

[xstr8guy]

They are incapable of doing the simple math required to calculate profitability. And this doesn't just apply to noobs. I see a lot of people with high post counts who show a shocking lack of understanding and are still buying mining gear.

I've made some terrible decisions myself when I've let the excitement of mining impair my judgement. It's really hard to resist sexy new gear!

[lyth0s]

My last miner purchase that was actual hardware unfortunately did really poorly and never reached 100% ROI

With that being said, I've bought a few MH with GAW Miners and I'm currently at 85% bitcoin ROI and should meet > 100% ROI soon, which is a lot better than my previous hardware miner did.

If nothing else at least mining brings new people into bitcoin and they can learn how to use bitcoin wallets, how confirmations works, send/receive coins and then talk to their friends about it. I wouldn't recommend buying any actual hardware right now, but cloud mining or just buying straight bitcoin....that I would recommend.

[-ck]

My last miner purchase that was actual hardware unfortunately did really poorly and never reached 100% ROI

With that being said, I've bought a few MH with GAW Miners and I'm currently at 85% bitcoin ROI and should meet > 100% ROI soon, which is a lot better than my previous hardware miner did.

That sounds like an ad to support your ad campaign signature. I'm quite sure your cloud hashing will be just as big a loss. I've described how cloud hashing works here, though the same is true about all mining:

You learn about bitcoin mining, read lots of advertisements, visit lots of flashy sites, compare prices, look at forecasts, consult experts, examine graphs, pick apart forum posts, make predictions based on all that and then you flush your money down the toilet. Then you spend the next 6 months making shit up to convince yourself and others you made money in the process.

[lyth0s]

My last miner purchase that was actual hardware unfortunately did really poorly and never reached 100% ROI

With that being said, I've bought a few MH with GAW Miners and I'm currently at 85% bitcoin ROI and should meet > 100% ROI soon, which is a lot better than my previous hardware miner did.

That sounds like an ad to support your ad campaign signature. I'm quite sure your cloud hashing will be just as big a loss. I've described how cloud hashing works here, though the same is true about all mining:

You learn about bitcoin mining, read lots of advertisements, visit lots of flashy sites, compare prices, look at forecasts, consult experts, examine graphs, pick apart forum posts, make predictions based on all that and then you flush your money down the toilet. Then you spend the next 6 months making shit up to convince yourself and others you made money in the process.

I bought my scrypt hardware through GAW way before my ad campaign. I believed I was getting an excellent deal based on ROI times and difficulty. They delivered their product as described and in a very timely manner. And boy did I lose money on my black widow. But that is not GAW's fault, I made a bad judgement call on how fast scrypt difficulty would increase.

As far as cloud mining goes....Do you doubt that I"m 85% ROI on my cloud mining hardware? Or you believe I'm at 85% and just that I won't reach >100% ROI?

If you doubt I'm at 85% ROI currently, would you like to place a 1 BTC bet on it?

[-ck]

If you doubt I'm at 85% ROI currently, would you like to place a 1 BTC bet on it?

No, I don't waste money on speculative things. I earn bitcoin through providing services.

[lyth0s]

If you doubt I'm at 85% ROI currently, would you like to place a 1 BTC bet on it?

No, I don't waste money on speculative things. I earn bitcoin through providing services.

And I appreciate you keeping CGMiner updated and everything as that is very important for our mining infrastructure and thus bitcoin's survival. But please don't flame on me for supporting a service that has delivered everything as promised.