Miners should be sold with the warning

[btcusr]

Miners should be sold with the warning,

You can NEVER get all your Bitcoins back.
Hoarding is safe and bitcoin deflation pays you better returns.

Sigh.

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[gadman2]

And they should change Bitcoins motto to:

Bitcoin: the only use is to make USD.

[waltermot321]

Miners should be sold with the warning,

You can NEVER get all your Bitcoins back.
Hoarding is safe and bitcoin deflation pays you better returns.

Sigh.

Then they will never sell any of the ASIC they produce

[gerXhonza]

You can NEVER get all your Bitcoins back.

Might be true now, but not in the past, and the future is unknown  

[challen]

Miners should be sold with the warning,

You can NEVER get all your Bitcoins back.
Hoarding is safe and bitcoin deflation pays you better returns.

Sigh.

Should happens.

[klondike_bar]

should we write on the side of food : "might make you fat. hoarding your food money will make you thinner and richer"?

(if you say yes, welcome to the nanny state for idiots)

[j68r]

You can NEVER get all your Bitcoins back.

Might be true now, but not in the past, and the future is unknown  

In terms of mining the future is more or less known, the mining difficulty will only ever go up unless the process is somehow compromised and dies which is unlikely.

The next drop in block reward will really separate the righteous devoted miners from the casual miners because the mining process will just become a much more serious fiat money pit unless btc "worth" rises significantly.

The people I feel sorry for are those who were ordering KnC miners with their life savings and expecting to be millionaires in a year, they were warned.. but greed has that effect.

[odolvlobo]

Miners should be sold with the warning,
You can NEVER get all your Bitcoins back.

That is false. You can definitely make money by mining. You just have to avoid paying too much for the equipment. Most people are spending a bunch of money on mining equipment before they even bother to figure out how much it will mine.

This is just like the Gold Rush of the 1840's. The only people that made money then were also the people that sold mining equipment. I'm sure there will be stories about the Bitcoin Rush in 100 years, too.

[TheDragonSlayer]

Miners should be sold with the warning,
You can NEVER get all your Bitcoins back.

That is false. You can definitely make money by mining. You just have to avoid paying too much for the equipment. Most people are spending a bunch of money on mining equipment before they even bother to figure out how much it will mine.

This is just like the Gold Rush of the 1840's. The only people that made money then were also the people that sold mining equipment. I'm sure there will be stories about the Bitcoin Rush in 100 years, too.

This. And people need to do homework before buying. Some people just dont understand what dificulty is and buying bunch of asic.

[induktor]

I don't think is so bad, I made my numbers, but well time will tell  , I tell you guys in a year (just ordered some rigs)
so far I am doing quite ok (of course, I don't pretend to ROI in 3 months!, if I ROI in 1 year, I am happy)

[btcusr]

I paid for 3.2 btc for ~10GHashes, expecting it will break even, at least in a year. may be some more for second year as profit.

Everything is ok so far, and received my 0.1 BTC as my weekly payout.

Except September delivery announced, received in late in October.

If this extends for 32 more weeks (8 months), then it will break even with my investment, which is great.

But I think it will never return my investment.

[odolvlobo]

I paid for 3.2 btc for ~10GHashes, expecting it will break even, at least in a year. may be some more for second year as profit.
Everything is ok so far, and received my 0.1 BTC as my weekly payout.
Except September delivery announced, received in late in October.
If this extends for 32 more weeks (8 months), then it will break even with my investment, which is great.

I hate to be the one to break it to you, but unless there is some major change in the next few months, you'll be lucky to ever see even 1 BTC.

[Trongersoll]

Bitcoin won't start to deflate until the last bitcoin is mined.

[MrHempstock]

Bitcoin won't start to deflate until the last bitcoin is mined.

I like that.   Fodder for a signature quote, right there.

Mining companies would never put a warning on their product, it's a non-starter. But you know that. Is this thread just a vent, or are you looking for solace from like-minded miners? If so, I'll throw out the obligatory "Don't worry, man. All will be well with your investment. Difficulty increases should be incremental from here on out."
Now all you have to do is sabotage all the undelivered-as-of-yet ASIC mining companies' operations, or marry into on of their families. I'm already married, but I've got a single brother I'm currently trying my damndest to sneak into the fold. Just bought him Rosetta Stone for Swedish.  

[high110]

I think the mining community is quickly realizing purchasing mining equipment is not profitable unless they do it as a hobby.  It is pretty addictive to play around with optimizing your machines.

[Xyver]

I paid for 3.2 btc for ~10GHashes, expecting it will break even, at least in a year. may be some more for second year as profit.

Everything is ok so far, and received my 0.1 BTC as my weekly payout.

Except September delivery announced, received in late in October.

If this extends for 32 more weeks (8 months), then it will break even with my investment, which is great.

But I think it will never return my investment.

Ouch, I just got 10 giga for 0.9 and I'm questioning my ROI....  Good luck!

[izzotheschizo]

mining is a fools errand.  It was good if you dont know of coinbase.  Now that you can use coinbase, you will never get more coins mining than you would from just buying coins. period.

[Badonkadonk]

I paid for 3.2 btc for ~10GHashes, expecting it will break even, at least in a year. may be some more for second year as profit.

Everything is ok so far, and received my 0.1 BTC as my weekly payout.

Except September delivery announced, received in late in October.

If this extends for 32 more weeks (8 months), then it will break even with my investment, which is great.

But I think it will never return my investment.

Ouch, I just got 10 giga for 0.9 and I'm questioning my ROI....  Good luck!

and i payed 139.8 for my 60ghs

look at it like this, if noone spends their btc, it sure as hell wont be worth anything

[Zawamiya]

I paid for 3.2 btc for ~10GHashes, expecting it will break even, at least in a year. may be some more for second year as profit.

Everything is ok so far, and received my 0.1 BTC as my weekly payout.

Except September delivery announced, received in late in October.

If this extends for 32 more weeks (8 months), then it will break even with my investment, which is great.

But I think it will never return my investment.

Ouch, I just got 10 giga for 0.9 and I'm questioning my ROI....  Good luck!

Good luck on ROI, hashfast is coming soon and the real difficulty hike is coming...

[TheDragonSlayer]

I paid for 3.2 btc for ~10GHashes, expecting it will break even, at least in a year. may be some more for second year as profit.

Everything is ok so far, and received my 0.1 BTC as my weekly payout.

Except September delivery announced, received in late in October.

If this extends for 32 more weeks (8 months), then it will break even with my investment, which is great.

But I think it will never return my investment.

Ouch, I just got 10 giga for 0.9 and I'm questioning my ROI....  Good luck!

Good luck on ROI, hashfast is coming soon and the real difficulty hike is coming...

Which hashfast delayed again..... lets just assume they will deliver end of December so there is still plenty of time to mine.....