The bitcoin divide

[smoothrunnings]

I am not sure if these the correct forum to write this in?

I have noticed there is a huge gap that I call the bitcoin divide between the people who want to get into Bitcoin mining and the people who have been bitcoin mining for a long time that it makes it very difficult for people to jump in and get their feet wet, as well I finding there isn't a lot of good information out there to help new investors so they, like me, make silly and stupid mistakes along the way.

One of which is I sunk $15k of my own money into buying gear from local people where if I had known more about the possibilities and process to buying bitcoins at exchanges first I would have been far better off now. Right now I still see people selling Avalon ASIC B2/B3 four module miners on eBay and locally here (where I live) for 5 to $10k. Yet we all know buying them new cost 3.5B ($3500 or less) and that's shipped to your. Back when I got involved bitcoins were worth $143 and a anvy miner would costs me between $1800 and $2100 each. I believe that the resell market is driving away the potential and stability of bitcoin, people have to understand hardware is hardware it doesn't keep it's value it loses it over time.

[smithytzu]

Idiots will be idiots, doesn't matter if it's bitcoin or any other financial system.

Why do businesses offer Playstations and LCD TVs on Pay now nothing to pay for 24 months! and idiots happily jump on board signing off on 25% + in interest re-payments.  They do it because it works, you can't stop idiots from jumping into mining hardware at stupid prices and making dumb decisions, what makes you think even if a guide exists they would read it??

I've been following bitcoin for a year or so but only got into it back in october, I've made a couple of mistakes but also done a shitload of research, the fact is there will be a lot of people that read the latest news article on bitcin and based off two paragraphs of semi truth from a journo will throw their money away no matter what you do.

All the information is out there if you are patient enough to do the research and learn.

Yes, Bitcoin has a learning curve, but if that learning process filters out the people who don't want to do the hard work and research and just want to make a quick buck, then that can only be a good thing.

Sorry I'm not more empathetic to your cause.

[DrG]

There are many other subforums here besides the mining forum.

Most of the people with huge stockpiles of gold probably never picked up a pick.  To earn BTC you do not NEED to mine, and presently it is better to earn them through business than mining (unless you live next door to KNC lol)

[DTYJ]

It's true that some people were really greedy, which In-fact I think some of those who purchased the Q1 Q2 of the upcoming Avalon neptune series Is already looking to resell it rather than making good use of it... Well It hurts for people who're getting in to mining crypto-currency and do not currently have a rig on their hand.. and sad truth for me as well .. those re-seller ain't gonna stop.

[DrG]

It's true that some people were really greedy, which In-fact I think some of those who purchased the Q1 Q2 of the upcoming Avalon neptune series Is already looking to resell it rather than making good use of it... Well It hurts for people who're getting in to mining crypto-currency and do not currently have a rig on their hand.. and sad truth for me as well .. those re-seller ain't gonna stop.

Avalon is a vile repugnant corrupt company.

KNC makes the Neptune

[wrenchmonkey]

I am not sure if these the correct forum to write this in?

I have noticed there is a huge gap that I call the bitcoin divide between the people who want to get into Bitcoin mining and the people who have been bitcoin mining for a long time that it makes it very difficult for people to jump in and get their feet wet, as well I finding there isn't a lot of good information out there to help new investors so they, like me, make silly and stupid mistakes along the way.

One of which is I sunk $15k of my own money into buying gear from local people where if I had known more about the possibilities and process to buying bitcoins at exchanges first I would have been far better off now. Right now I still see people selling Avalon ASIC B2/B3 four module miners on eBay and locally here (where I live) for 5 to $10k. Yet we all know buying them new cost 3.5B ($3500 or less) and that's shipped to your. Back when I got involved bitcoins were worth $143 and a anvy miner would costs me between $1800 and $2100 each. I believe that the resell market is driving away the potential and stability of bitcoin, people have to understand hardware is hardware it doesn't keep it's value it loses it over time.

There's PLENTY of information here on the forum. I've spent countless hours, on this forum and elsewhere, warning people about what a bad investment most mining hardware is right now, and how they'd be better off buying coins and holding them. But nobody listens. Buying coins is too boring for some people, and no matter how hard I (and countless others here) try and educate n00bs here, they just won't listen.

Don't blame a lack of info. Blame your own decision to ignore good advice.

[DTYJ]

I am not sure if these the correct forum to write this in?

I have noticed there is a huge gap that I call the bitcoin divide between the people who want to get into Bitcoin mining and the people who have been bitcoin mining for a long time that it makes it very difficult for people to jump in and get their feet wet, as well I finding there isn't a lot of good information out there to help new investors so they, like me, make silly and stupid mistakes along the way.

One of which is I sunk $15k of my own money into buying gear from local people where if I had known more about the possibilities and process to buying bitcoins at exchanges first I would have been far better off now. Right now I still see people selling Avalon ASIC B2/B3 four module miners on eBay and locally here (where I live) for 5 to $10k. Yet we all know buying them new cost 3.5B ($3500 or less) and that's shipped to your. Back when I got involved bitcoins were worth $143 and a anvy miner would costs me between $1800 and $2100 each. I believe that the resell market is driving away the potential and stability of bitcoin, people have to understand hardware is hardware it doesn't keep it's value it loses it over time.

There's PLENTY of information here on the forum. I've spent countless hours, on this forum and elsewhere, warning people about what a bad investment most mining hardware is right now, and how they'd be better off buying coins and holding them. But nobody listens. Buying coins is too boring for some people, and no matter how hard I (and countless others here) try and educate n00bs here, they just won't listen.

Don't blame a lack of info. Blame your own decision to ignore good advice.

Shit my bad, didn't notice that error. Was thinking about Avalon while typing this