WEB slicer (OP)
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August 14, 2013, 01:46:37 AM |
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go look for gold with hand and pan while big money uses dynamite and excavators and tell me if its worth your time.
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knight22
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--------------->¿?
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August 14, 2013, 01:58:16 AM |
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go look for gold with hand and pan while big money uses dynamite and excavators and tell me if its worth your time.
Same is true with ASIC
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viboracecata
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Varanida : Fair & Transparent Digital Ecosystem
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August 14, 2013, 02:03:45 AM |
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half right, ASIC IPO will ruin bitcoin
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WEB slicer (OP)
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August 14, 2013, 02:12:05 AM |
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bitcoin is good, ASIC and big greedy companies is bad.
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gadman2
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August 14, 2013, 02:14:51 AM |
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It does if you're one of the 97% of people at this forum who are in it for the potential UDS profits ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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smscotten
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August 14, 2013, 04:28:01 AM |
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I love how profit becomes evil at exactly the moment that someone else is making it. As long as I am making profit, it's healthy and good.
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JoelKatz
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August 14, 2013, 04:38:18 AM |
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I love how profit becomes evil at exactly the moment that someone else is making it. As long as I am making profit, it's healthy and good.
"It's because of these evil, greedy people that I can't make a huge profit with minimal effort."
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I am an employee of Ripple. Follow me on Twitter @JoelKatz 1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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barbarousrelic
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August 14, 2013, 04:47:42 AM |
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Bitcoin != mining
Indeed. ASICs made Bitcoin far better, but they made mining less profitable. But the general purpose of Bitcoin is not to make money mining. It's to have a secure independent quasi-anonymous trust free online currency system.
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Do not waste your time debating whether Bitcoin can work. It does work.
"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.
There is no such thing as "market manipulation." There is only buying and selling.
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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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August 14, 2013, 05:04:08 AM |
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Something about "worthless" and "big money" being in the same sentence is ringing as dissonance in my ears.
they will make the money and bail just like mining for gold oil or diamonds in third world countries. they will be there when its profitable and fuck you when they cant make no more off you. What about when there are 0 btc left to be mined? Imagine we are in 2141. Are you happy with mining for TX fees? why not? When 2141 rolls around and BTC is the world currency and mining for TX is highly profitable.
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more or less retired.
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elor70
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August 14, 2013, 07:02:43 AM |
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It ruined gpu mining
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yolo2222
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August 14, 2013, 07:13:34 AM |
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Whos that ASIC guy? I keep hearing his name ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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johnyj
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Beyond Imagination
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August 14, 2013, 12:30:21 PM |
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The only sure winner are those chip manufacturers like TSMC
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tonto
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August 14, 2013, 01:06:37 PM |
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I'm saying it sounds like OP's complaint is that he can't earn money mining Bitcoin.
This.
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WEB slicer (OP)
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August 14, 2013, 01:30:46 PM |
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i am making money with BTC. i have been making money with BTC. i will continue making money with BTC. even if not mining.
however, like many of us i have invested in ASIC. and when the difficulty shits on my return i am well within my right to cry bitch or moan.
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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August 14, 2013, 01:55:07 PM |
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i am making money with BTC. i have been making money with BTC. i will continue making money with BTC. even if not mining.
however, like many of us i have invested in ASIC. and when the difficulty shits on my return i am well within my right to cry bitch or moan.
Did you buy those ASICs with the expectation that the difficulty wouldn't skyrocket??? Sounds like the problem is with the company you chose to purchase from, not with the devices that offer greater hashing rates for less energy expenditure (since you chose to purchase one.)
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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WEB slicer (OP)
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August 14, 2013, 01:57:23 PM |
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i knew it would go up but not like this. look at this chart. it makes mining very unattractive. http://bitcoindifficulty.com/
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adworker
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August 14, 2013, 02:04:14 PM |
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ASIC making Bitcoin more secure. Bigger difficulty = more secure = better. But im not biased because i dont mine
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smscotten
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August 14, 2013, 05:11:20 PM |
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Sure, the difficulty is high. As a fellow miner, I empathize. I'll hoist a glass of beverage and reminisce about the "good old days" or whatever. But you have to realize that that is not what you asked. The poll asks whether ASICs ruined Bitcoin, which if you'll forgive my bluntness is childish and petty.
ASICs have made it more possible for anyone to participate as miners, not less. They have also made it more difficult for miners to be professional miners. Most of us won't quit our day jobs, and a very small number of us will have huge self-sustaining farms. That is as it should be. Bitcoin was not invented to give us a free lunch, it was invented to give us a free economy.
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The 4ner
aka newbitcoinqtuser
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August 14, 2013, 05:14:22 PM |
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when you spend up the ass for the equipment it takes months to deliver and when you have the equipment in hand the difficulty is so high you risk losing money cause you cant make ROI i think that makes bitcoin look like a joke and a huge gamble thus making bitcoin less attractive and could lead to panic selling and collapse.
Does it really matter though? The difficulty was bound to rise either way the more coins were produced. The only inconvenience ASICs caused was not being able to make the late comers rich.
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