It's Over

[BadBear]

The cost of electricity is pretty irrelevant to the price, especially since a lot of miners aren't paying their electricity bills.  Also, look at the FPGA miners people are working on, would mean electricity cost would be way lower than it is now, thus forcing non FPGA miners out of the market, and driving the prices even lower.  I wish I could be as optimistic as some of you, but everywhere I look things are not looking good. 

[Bemtje]

I'm pumping out 18 GH/s and only averaging $250 a month for the whole house,,, 3,000 sq/ft.

[bulanula]

The cost of electricity is pretty irrelevant to the price, especially since a lot of miners aren't paying their electricity bills.  Also, look at the FPGA miners people are working on, would mean electricity cost would be way lower than it is now, thus forcing non FPGA miners out of the market, and driving the prices even lower.  I wish I could be as optimistic as some of you, but everywhere I look things are not looking good. 

100% true. Botnets also. Stolen coins also. Price is going down.

[mrdavis]

The number of new bitcoins entering the market remains constant. Botnet operators may not hoard... err... speculate and will make the market price lower, but that just helps stop artificial bubbles. In 60k blocks or so the flow of bitcoins entering the market will be cut in half and then again in a few years after that. Mining is not the only way to get bitcoins and hasn't been the best way for quite some time. Buy them on an exchange. Trade some goods or services for them.

Most who treat bitcoins as an investment will probably end up disappointed.

So long as everything doesn't completely collapse. Everyone who thinks of bitcoin as a pseudonymous decentralized medium of exchange will be satisfied.

Not being a slave has value not comparable to USD.

[mrblue]

Looks like OP made a big mistake...

[RubberChicken]

This thread is awesome! Good find. 

[jaredw]

I wish I'd got in on the speculating sooner, but bitcoin seems pretty robust overall and it won't stop being used just because only ASIC users can mine it and the value fluctuates insanely

[Opsamk]

I regret this so much...

[Opsamk]

you still got 67btc, right?

Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits.

[Wendigo]

Dude you missed out on $100 000   

[Opsamk]

you still got 67btc, right?

Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits.

thats a shame......

no point looking back bro.

I am very tempted to just blow $22k on a certain miner because I now know what bitcoin is capable of.

[Minecache]

We are all on a journey and who knows where it will take us so you shouldn't feel bad Sir. Even if this bitcoin experiment simply helps to loosen the grip the parasitic banksters have over us then every cent spent and lost is worth it.

[WayTooGosu]

67 BTC is an insane amount to have. I am sure that a lot of that is profit so you did have a good run with BTC.