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Author Topic: TO NEW MINERS: trust your feelings...  (Read 8516 times)
wizzard0
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June 11, 2011, 04:36:38 PM
 #41

Well, just look at the charts. Every price/difficulty spike there would be miners influx, that's it Smiley
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finnthecelt
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June 11, 2011, 04:46:53 PM
 #42


all I got from this is that your buddy needs to ditch his GF regardless because she's just into him because of the $...

gotcha...

+1 LOL!!!
Synaptic
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June 11, 2011, 06:09:17 PM
 #43


all I got from this is that your buddy needs to ditch his GF regardless because she's just into him because of the $...

gotcha...

+1 LOL!!!

Yeah, you 3 that have commented on this so far sure are smart...

She's actually pretty awesome, I've known both of them since college and they're quite a good couple. Apparently she was reluctant to agree to using their savings and suggested a number of smarter alternatives (selling one of their cars that they rarely drive was one of them), but he is so involved in this idea with BTC signs in his eyes that he worked into her for days until she capitulated. Now that she gave in she's starting to talk about the potential rewards too, excitedly (some kind of odd form of Stolkholm's syndrome? or sunk cost fallacy?).

It's my estimation that when he looses their wedding nest egg on this idiotic idea of mining on the idea that "at the worst" he could just break even and sell the hardware, and in fact takes a loss and sells the HW at a fraction of his costs, that she'll likely be so devastated at being taken advantage of (and basically having been fucked out of their amazing honeymoon she wanted and a number of other post-marriage plans they had...Europe, for one) that she will leave him in disgust.

She's a sweet girl that was sucked into a fools dream, and I hope she bails on him, because I warned him too and he's just dead set on this bullshit.

So I guess to sum up what I'm saying is go fuck yourselves.  Yep, that's pretty much it really.  Go fuck yourselves, you know nothings.

Good day, Sirs.  Good day.
finnthecelt
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June 11, 2011, 08:40:02 PM
 #44

Well then....
detroit
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June 12, 2011, 12:10:06 AM
 #45

I'm new here, but do you guys do a "Thread of the day"?
Here's my nomination!

 Huh

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Thraex
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June 12, 2011, 12:26:14 AM
 #46

I'm still going to order an ATI Radeon HD5870 for mining, if the plan to win the money back in xx days/weeks/months fails I'll simply use it for BOINC or F@H or gaming basically.
If it does win the money back I think it would be fair to get another one, but I know my limits. Mining would probably cease to exist for most people if extreme elites competing amongst themselves were to come.
Fakeman
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June 12, 2011, 12:31:46 AM
 #47

She's a sweet girl that was sucked into a fools dream, and I hope she bails on him, because I warned him too and he's just dead set on this bullshit.

LOL, didn't you say he was likely to lose his girlfriend at the start of the thread? Sounds more like wishful thinking on your part.

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darkpandora
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June 12, 2011, 12:33:45 AM
 #48

spent 2300 usd on my mining rig Smiley and i dont regret it.

2x 6990

K U R D I  S T A N
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K U R D I S T A N
Oldminer
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June 12, 2011, 12:35:23 AM
 #49

If you can't stand the heat, its time to get out of the kitchen.

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Basiley
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June 12, 2011, 12:36:03 AM
 #50

spent 2300 usd on my mining rig Smiley and i dont regret it.

2x 6990
at least you can play Rage/Doom4/Prey2 on this ;-)
proabably even on two/three screens -)
chungenhung
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June 12, 2011, 06:29:52 AM
 #51

I'm still going to order an ATI Radeon HD5870 for mining, if the plan to win the money back in xx days/weeks/months fails I'll simply use it for BOINC or F@H or gaming basically.
If it does win the money back I think it would be fair to get another one, but I know my limits. Mining would probably cease to exist for most people if extreme elites competing amongst themselves were to come.
Thanks man, we need more people doing F@H and BOINC! not just BTC in their head 24/7.
I have been BOINC / F@H for maybe 5 yrs. Every piece of hardware I buy I would have them in mind.
For example, most people go with the cheapest CPU, I actually buy Core i7 CPUs, so I can contribute to F@H while making some $ in bitcoin.
You will feel terrible if you are only into bitcoin for profit, and failed. But you would feel really good when your Core i7 help to find the cure to some disease.

Trading MtGox USD for Dwolla/ACH deposit/Chase cash deposit
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finnthecelt
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June 12, 2011, 04:23:14 PM
 #52

I'm still going to order an ATI Radeon HD5870 for mining, if the plan to win the money back in xx days/weeks/months fails I'll simply use it for BOINC or F@H or gaming basically.
If it does win the money back I think it would be fair to get another one, but I know my limits. Mining would probably cease to exist for most people if extreme elites competing amongst themselves were to come.

Given how long the possibilities of mining will last, if I were an extreme elite (assuming you meant "rich") I would just buy the bitcoin. I couldn't be bothered with hiring some IT people and overseeing the building of a rig network. Why bother?
stick_theman
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June 12, 2011, 04:53:19 PM
 #53

Good topic.  Trust your gut is important.  Don't stomach more than you can take. 

The golden rule still applies.

"If the stock is making you losing sleep at night, sell it!"
finnthecelt
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June 12, 2011, 05:26:17 PM
 #54

Good topic.  Trust your gut is important.  Don't stomach more than you can take. 

The golden rule still applies.

"If the stock is making you losing sleep at night, sell it!"

I say give more to your stomach than it can take and use your head to compensate. This requires the use of many sticky notes!!!!   Tongue
jwzguy
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June 12, 2011, 09:03:00 PM
 #55

"Trusting your gut" is actually the opposite of what you're recommending. "Trust your rational thought process" would be much better advice.

Make the best prediction you can based on the data you have, calculate risks for all probable eventualities. Act accordingly.

Anything else is foolish.

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finnthecelt
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June 12, 2011, 09:32:13 PM
 #56

"Trusting your gut" is actually the opposite of what you're recommending. "Trust your rational thought process" would be much better advice.

Make the best prediction you can based on the data you have, calculate risks for all probable eventualities. Act accordingly.

Anything else is foolish.

The world requires foolishness.

Defying the British Empire was foolish.

Flying the first airplane was foolish.

Flying into space was foolish....

Rational thought is very limiting. Without that fire in your belly, intuition, tapping into the infinite creativity of the universe and letting go of logic (which is predicting based on past events), life is not truly lived.

Risk must be taken to evolve. Otherwise you just live in fear and miss out on the birth of spontaneity.

edit: from an American perspective.
jwzguy
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June 12, 2011, 10:02:15 PM
 #57

None of those things were done based on intuition. All required rational thoughts and motives.

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Jack of Diamonds
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June 12, 2011, 10:07:45 PM
 #58

None of those things were done based on intuition. All required rational thoughts and motives.

All of those carried major, unpredictable risks though (and spaceflights suffered massive losses in the first 40 years of operating including deaths).

In the end everything in the real world is a leap of faith. Pure mathematics and theory only works in simulations.

I'm not saying to 'trust your guts' and abandon due diligence.
I'm saying everything in the world is volatile, unstable, and ultimately unpredictable in the long term.

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tanerlorn
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June 12, 2011, 10:46:14 PM
 #59

I just spent the last of my USD networth on building a rig, 50/50 split with my dad, after I explained him the concept. I have all of my funds currently in bitcoin, and none in US Bank Notes. I sleep a LOTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT T better at night.
finnthecelt
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June 12, 2011, 10:52:37 PM
 #60

I just spent the last of my USD networth on building a rig, 50/50 split with my dad, after I explained him the concept. I have all of my funds currently in bitcoin, and none in US Bank Notes. I sleep a LOTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT T better at night.

Nice. Do well. What's your set up?
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