Bitcoins on the way out?

[goastler]

I'm unsure of what to do right now. Since the difficulty of bitcoins is hitting the expotential curve and will soon become non-profitable, unless you use solar power or something, what's next? What cryptocurrencies could bring in more profit when bitcoin stops and what coins are sort of "the ones to watch"? I'm mainly interested in SHA-256 coins, but I like scrypt too I have been looking at PPCoin, but Terracoin seem to be doing well too. Any plans for what you're doing after bitcoins would be helpful too, I'm just trying to make a plan for where to go after bitcoins, what time to go, etc.... Any input welcome

[Buffer Overflow]

Probably easier to just buy the Bitcoins if you need them.

[MerchantMiner]

a victim of its own success and technology, ive read more about bitcoins in the past few months than anything ive ever looked into excluding my own Engineering Career, i think bit coins is over come january next year the mining with be abandoned and the network will slow down to a crawl creating new problems after the money men have invested alot into this , as miners we know whats going on with the tech. the investors just see a cash cow and bandwagon to jump on to make money. without mining there's no bitcoin. chicken and the egg.

shame ive seen the rewards halved since the last diff change 

[Buffer Overflow]

a victim of its own success and technology, ive read more about bitcoins in the past few months than anything ive ever looked into excluding my own Engineering Career, i think bit coins is over come january next year the mining with be abandoned and the network will slow down to a crawl creating new problems after the money men have invested alot into this , as miners we know whats going on with the tech. the investors just see a cash cow and bandwagon to jump on to make money. without mining there's no bitcoin. chicken and the egg.

shame ive seen the rewards halved since the last diff change 

One fatal flaw. When miners pull out difficulty will drop, coins will be cheaper to mine. Miners come back in again.

[SpeedDemon13]

I'm unsure of what to do right now. Since the difficulty of bitcoins is hitting the expotential curve and will soon become non-profitable, unless you use solar power or something, what's next? What cryptocurrencies could bring in more profit when bitcoin stops and what coins are sort of "the ones to watch"? I'm mainly interested in SHA-256 coins, but I like scrypt too I have been looking at PPCoin, but Terracoin seem to be doing well too. Any plans for what you're doing after bitcoins would be helpful too, I'm just trying to make a plan for where to go after bitcoins, what time to go, etc.... Any input welcome

Zetacoin is good if you sticking with SHA256 mining. Scrypt mining still is more cheaper for mining hardware. Wish solar power systems get cheaper, 50% to 75% of the current cost. Solar panels are get more efficient, 500 to 600 watts per panel from what I researched online. Obviously, you have to be in an area with year round sunshine or close to it.

[MerchantMiner]

a victim of its own success and technology, ive read more about bitcoins in the past few months than anything ive ever looked into excluding my own Engineering Career, i think bit coins is over come january next year the mining with be abandoned and the network will slow down to a crawl creating new problems after the money men have invested alot into this , as miners we know whats going on with the tech. the investors just see a cash cow and bandwagon to jump on to make money. without mining there's no bitcoin. chicken and the egg.

shame ive seen the rewards halved since the last diff change 

One fatal flaw. When miners pull out difficulty will drop, coins will be cheaper to mine. Miners come back in again.

one fatal flaw , the investments will pull out & the confidence will be gone, no one will return to a previously ruined system. Once something looses its shine its gone people are fickle im afraid. ive been reserching bitcoin indepth for a while now reading everything i possible can whist running a small rig to monitor changes, the last Diff jump has halved the rewards and theres another one in 10 days. the depretiation of this system is turning into a KILLER a suicide of its self its like miners are killing the very system we are trying to keep alive , Mining is unsustainable theres no ROI. already theres new 4.5ghash plug and play miner on ebay for a couple hundred so why buy BFL or KnC , they will be out of business by next year and again people with pre orders or have paid top dollar will be out of pocket with a machine thats worthless. tell me im wrong in detail and i will continue this conversation

cheers    

[MerchantMiner]

I'm unsure of what to do right now. Since the difficulty of bitcoins is hitting the expotential curve and will soon become non-profitable, unless you use solar power or something, what's next? What cryptocurrencies could bring in more profit when bitcoin stops and what coins are sort of "the ones to watch"? I'm mainly interested in SHA-256 coins, but I like scrypt too I have been looking at PPCoin, but Terracoin seem to be doing well too. Any plans for what you're doing after bitcoins would be helpful too, I'm just trying to make a plan for where to go after bitcoins, what time to go, etc.... Any input welcome

Zetacoin is good if you sticking with SHA256 mining. Scrypt mining still is more cheaper for mining hardware. Wish solar power systems get cheaper, 50% to 75% of the current cost. Solar panels are get more efficient, 500 to 600 watts per panel from what I researched online. Obviously, you have to be in an area with year round sunshine or close to it.

500/600 watt solar panel lol yeah right show me the link

[BitcoinEXpress]

one fatal flaw , the investments will pull out & the confidence will be gone, no one will return to a previously ruined system. Once something looses its shine its gone people are fickle im afraid. ive been reserching bitcoin indepth for a while now reading everything i possible can whist running a small rig to monitor changes, the last Diff jump has halved the rewards and theres another one in 10 days. the depretiation of this system is turning into a KILLER a suicide of its self its like miners are killing the very system we are trying to keep alive , Mining is unsustainable theres no ROI. already theres new 4.5ghash plug and play miner on ebay for a couple hundred so why buy BFL or KnC , they will be out of business by next year and again people with pre orders or have paid top dollar will be out of pocket with a machine thats worthless. tell me im wrong in detail and i will continue this conversation

cheers    

There's more than one fatal flaw here.

1) ROI - You're assuming everyone computes ROI on today's value and not some speculative point int he future.

When I was mining full force after Bitcoin had crashed to just below $2.00 from a high of $33.00+ in June 2011 people told me I was crazy to keep mining at 70GHS. Funny thing in April 2013 I had the last laugh as those negative ROI Bitcoins I mined were 100x worth more than what they were valued at when I mined them. The same thing can be said about the Bitcoins mined after supposed ROI is non profitable today in 2013.

What if in two years from now they are worth $10K each???

Yeah, Yeah, I heard the same thing back in late 2011, Bitcoin will never see a price like that.


~BCX~

[MerchantMiner]

one fatal flaw , the investments will pull out & the confidence will be gone, no one will return to a previously ruined system. Once something looses its shine its gone people are fickle im afraid. ive been reserching bitcoin indepth for a while now reading everything i possible can whist running a small rig to monitor changes, the last Diff jump has halved the rewards and theres another one in 10 days. the depretiation of this system is turning into a KILLER a suicide of its self its like miners are killing the very system we are trying to keep alive , Mining is unsustainable theres no ROI. already theres new 4.5ghash plug and play miner on ebay for a couple hundred so why buy BFL or KnC , they will be out of business by next year and again people with pre orders or have paid top dollar will be out of pocket with a machine thats worthless. tell me im wrong in detail and i will continue this conversation

cheers    

There's more than one fatal flaw here.

1) ROI - You're assuming everyone computes ROI on today's value and not some speculative point int he future.

When I was mining full force after Bitcoin had crashed to just below $2.00 from a high of $33.00+ in June 2011 people told me I was crazy to keep mining at 70GHS. Funny thing in April 2013 I had the last laugh as those negative ROI Bitcoins I mined were 100x worth more than what they were valued at when I mined them. The same thing can be said about the Bitcoins mined after supposed ROI is non profitable today in 2013.

What if in two years from now they are worth $10K each???

Yeah, Yeah, I heard the same thing back in late 2011, Bitcoin will never see a price like that.


~BCX~

i agree i personally think that 1 BitCoin in the future will be worth upwards of £100,000 to create liquidity in the market,

what you said about the past is in the past and dose not merit talking about at this point in time!!
and as for ROI we are all in the same boat, expensive miners using lots of power generating less money than expected for the purchaser, you just have to read the latest posts about BFL equipment to know there a waste of money power consumption to get ya money back, ive just got 3 BlueFurys pushing just under 9Ghash for less than the price of a BFL 5Ghash box so why would i buy a BFL 5Ghash box .........dosnt make sense , the new 4.5Ghash miners are just a bit more expensive than the Bluefurys so why would i buy a 30Ghash box for £1700 .......... dosnt make sense , somethings gotta give . i would be so pissed off if i had a BFL on pre order and it arrived this week i would sell it on ebay as it seams alot of people are doing.

ive read alot of horror storys about these mining company s making big Ghash machines that turn up damaged , dont turn up at all , burn out after a short while, and caps exploding on mainboard. people need to stop buying them i think.

sorry went on abit of a rant there lol , i hear ya buddy i just think were being short sighted with how this tech and the speeds + diff change render out expensive tech pointless .............. ending up with an exodus of miners that support the bitcoin.   

[MerchantMiner]

Keep following the trail... only miners using renewable energies will be able to compete in mining and if they keep expanding operations then the energy mining will be at least as profitable to them as the bitcoin mining so can expand on its own. If Satoshi was thinking that far ahead he was one smart fscker

energy mining, solar array in the back yard and sell the excess back to the grid ?

[MerchantMiner]

@bitcoinexpress you must be a millionaire now then buddy?

[SpeedDemon13]

I'm unsure of what to do right now. Since the difficulty of bitcoins is hitting the expotential curve and will soon become non-profitable, unless you use solar power or something, what's next? What cryptocurrencies could bring in more profit when bitcoin stops and what coins are sort of "the ones to watch"? I'm mainly interested in SHA-256 coins, but I like scrypt too I have been looking at PPCoin, but Terracoin seem to be doing well too. Any plans for what you're doing after bitcoins would be helpful too, I'm just trying to make a plan for where to go after bitcoins, what time to go, etc.... Any input welcome

Zetacoin is good if you sticking with SHA256 mining. Scrypt mining still is more cheaper for mining hardware. Wish solar power systems get cheaper, 50% to 75% of the current cost. Solar panels are get more efficient, 500 to 600 watts per panel from what I researched online. Obviously, you have to be in an area with year round sunshine or close to it.

500/600 watt solar panel lol yeah right show me the link

Those are in the works, but they are coming in the near future for residential. But right now SUNPOWER has 345 watt per panel: http://us.sunpowercorp.com/cs/Satellite?blobcol=urldata&blobheadername1=Content-Type&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobheadervalue2=inline%3B+filename%3Dsp_X21_335_345_ds_en_ltr_504828A_040513.pdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1300286718354&ssbinary=true . Surely industrial and commercial panel are higher output then residential ones.