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Author Topic: Stop selling WDC for so cheap!!!  (Read 2047 times)
JesstersDead
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May 24, 2013, 11:28:52 AM
 #21

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.



As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Also, if WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

Which is why I have dedicated LTC miners. Sell enough LTC to cover the bills, hold the rest, use extra hashpower for risk taking. I mined a ton of WDC, but I will sit on them until things settle as they aren't necessary to pay the bills. I don't understand how flash miners are covering their operating expenses without at least some market speculation. Which based on the pump-and-dumps of late, they do not seem to have. case.

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May 24, 2013, 11:30:28 AM
 #22

WDC is a deadcoin now.

LTC LULBEyQzLmcqRC1hWKKtxzgKr72A1UenoE
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May 24, 2013, 11:30:49 AM
 #23

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.



As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Also, if WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

Which is why I have dedicated LTC miners. Sell enough LTC to cover the bills, hold the rest, use extra hashpower for risk taking. I mined a ton of WDC, but I will sit on them until things settle as they aren't necessary to pay the bills. I don't understand how flash miners are covering their operating expenses without at least some market speculation. Which based on the pump-and-dumps of late, they do not seem to have. case.

https://en.wikipedia.org/wiki/Opportunity_cost

I assume you paid for your hardware, too.

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May 24, 2013, 11:39:36 AM
 #24

Hey, relax. Just sparking up a Friday morning debate. I haven't sold off any WDC that I mined, just sold off what I bought while day trading it. I have a 70,000 a year job to pay the bills, this is just play money for me.

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May 24, 2013, 11:41:32 AM
 #25

WDC is a deadcoin now.

It is REALLY hard for WDC to die as it will adjust so fast that eventually Difficulty will be low and it will be very profitable again network will climb prices will go up. It will work great.
JesstersDead
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May 24, 2013, 11:42:34 AM
 #26

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.



As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Also, if WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

Which is why I have dedicated LTC miners. Sell enough LTC to cover the bills, hold the rest, use extra hashpower for risk taking. I mined a ton of WDC, but I will sit on them until things settle as they aren't necessary to pay the bills. I don't understand how flash miners are covering their operating expenses without at least some market speculation. Which based on the pump-and-dumps of late, they do not seem to have. case.

https://en.wikipedia.org/wiki/Opportunity_cost

I assume you paid for your hardware, too.

No no, HD 7950 tree in the back yard Tongue

Recouping hardware costs, while a long term consideration, are not an immediate issue. For me at least. As the money was already pegged for more conventional investment mechanisms. Given that anything "conventional" would offer 12% at a maximum over multiple years, while typically requiring additional investment later on, I opted for a more "non-conventional" investment. Frankly, I saw it as a more safe and entertaining bet. Worse case scenario, hardware is sold off at 50% purchase cost, the other 50% of initial investment cost was made fairly quickly just by sitting on coins mined the first few months of operation.

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May 24, 2013, 11:44:06 AM
 #27

Miners support the network.  Merchants and users support the coin.

That is why BTC is trading for $100+.  It has a strong network of merchants and users.

For WDC or any coin to be non zero long term, it needs to grow the merchant and user base.  If not, it has no future regardless of whether miners sell or horde.
JesstersDead
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May 24, 2013, 11:53:33 AM
 #28

Miners support the network.  Merchants and users support the coin.

That is why BTC is trading for $100+.  It has a strong network of merchants and users.

For WDC or any coin to be non zero long term, it needs to grow the merchant and user base.  If not, it has no future regardless of whether miners sell or horde.

Couldn't agree more. Which is also why I am all in for FTC at the moment. First glance at any exchange would make that seem like an illogical idea, but FTC thus far(With the exception of LTC/BTC of course) has been the only coin that has offered me any sort of real world application. Even if it was just registering a domain name for the wife's blog. lol. That in and of itself hold more actual value than "x alt coin is trading for x amount of alt coin2".

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May 24, 2013, 11:55:19 AM
 #29

"worldcoin" is a term that could push this coin's value over BTC's value if it gets adopted right.
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May 24, 2013, 11:59:22 AM
 #30

sad to say  Undecided but miners dumping their WDC masses right now.
nobody needs that coin  Undecided

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May 24, 2013, 12:05:38 PM
 #31

sad to say  Undecided but miners dumping their WDC masses right now.
nobody needs that coin  Undecided

lol what a load of crap.. wdc isn't on an exchange able to handle mass wdc dumps lol (lack of btc volume)...  If it hit the likes of BTC-e it would be the ultimate pump n dumpers playtoy Smiley

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May 24, 2013, 12:21:01 PM
 #32

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.



As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".
If your saving cant handle 400+ USD eletric bill per month then you shouldnt mining in the first place. LTC was $0.5 for a looooong time which is even lower than FTC peak, yet it gonna hit mtgox. Why? because miner keep supporting it instead of mass dumping.  You can sell your magikarp for $0.01 or support it till it becomes gyarados worth %100, your choice.

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May 24, 2013, 12:32:20 PM
 #33

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.



As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".
If your saving cant handle 400+ USD eletric bill per month then you shouldnt mining in the first place. LTC was $0.5 for a looooong time which is even lower than FTC peak, yet it gonna hit mtgox. Why? because miner keep supporting it instead of mass dumping.  You can sell your magikarp for $0.01 or support it till it becomes gyarados worth %100, your choice.
lol, pokemon

JesstersDead
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May 24, 2013, 12:39:56 PM
 #34

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.



As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".
If your saving cant handle 400+ USD eletric bill per month then you shouldnt mining in the first place. LTC was $0.5 for a looooong time which is even lower than FTC peak, yet it gonna hit mtgox. Why? because miner keep supporting it instead of mass dumping.  You can sell your magikarp for $0.01 or support it till it becomes gyarados worth %100, your choice.
lol, pokemon

Okay, now I get the reference. Didn't know wtf he was talking about lol

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May 24, 2013, 12:42:43 PM
 #35

Don't listen! He just wants to sell his at a reasonable price before the big crash! SELL WHILE YOU CAN!

WDC is a deadcoin now.

And thus is the difference between me and you. WDC appears to have failed, and so, I can move on. Shitty deal, it failed, not because it was a shit coin, but because greedy miners killed it by dumping it too low. What can you do?

Here's a hint:  if there's nothing to do wtih your coin other than trade it for another coin that actually has value, that's all people are going to do with it.

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May 24, 2013, 12:45:43 PM
 #36

Don't listen! He just wants to sell his at a reasonable price before the big crash! SELL WHILE YOU CAN!

WDC is a deadcoin now.

Listen to NWO, he knows a LOT about dead coins and how to make oneself look like a jackass with them.
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May 24, 2013, 12:51:32 PM
 #37

BTC skyrocketing right now.

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May 24, 2013, 01:02:35 PM
 #38

Stop selling WDC for so cheap!!!
You fucking retards!!
Lol, the same thing as with other coins.
https://bitcointalk.org/index.php?topic=202619.0
https://bitcointalk.org/index.php?topic=160300.0
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May 24, 2013, 01:11:38 PM
 #39


Lol, the same cycle happens with every trash coin. The ironic thing is that the OP was running around bashing all the other alt coins, and now he's left holding the bag of garbage.

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May 24, 2013, 01:14:39 PM
 #40

Nothing increases my faith in a crypto more than a bagholder screaming at the market to stop plummeting.

lol

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