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Author Topic: If you're mining at around break even prices, STOP!  (Read 4412 times)
Dan The Man
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November 01, 2011, 07:29:34 PM
 #21

But the logic works exactly the same. "Stop competing with me, you aren't making money so neither am I."

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ElectricMucus
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November 01, 2011, 07:33:46 PM
 #22

But the logic works exactly the same. "Stop competing with me, you aren't making money so neither am I."
The problem is nobody has the upper hand anymore, you could easily make it harder for everyone else for free or even if it costs you something.
The time when profits are to be made again if someone could find a cost effective solution to mine with fpgas.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
rahl
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November 02, 2011, 12:03:23 PM
 #23

Well I for one am gonna continue mining or I will freeze my but of in here.

I could close up the ventilation but then I will probably get irradiated by the radon this building ... so with no electricity bill and the computer smelling less then the oven ... good luck to you trying to get a bigger piece of the mining pie for yourself anyway.

norulezapply
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November 02, 2011, 12:10:11 PM
 #24

FYI I'm pointing my rig towards folding@home because I prefer donating to this cause than the others, regardless of efficency.

But the logic works exactly the same. "Stop competing with me, you aren't making money so neither am I."
Not really. All I'm trying to do is raise awareness. There's a lot of newbie traders on this forum that don't know.

And hah, yeah that's true. I didn't think about the "free heat" aspect of mining..

If my post helped, I'll happily accept a few bitmills!   15rGg6A1JFZV3b7TTbtpAaiYGdUD1e1oAm
cicada
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November 08, 2011, 09:16:04 PM
 #25

Speculation belongs in the speculation thread.

FUD doesn't belong here at all.

The simple fact is it's pure capitalism - if you're making money, you'd be a fool to stop making money.  Even if it's just a few cents. Profit is always worthwhile as long as the effort required doesn't exceed it.

If you're not making money, cut your losses.  Fire it up again when you are.

The market adjusts accordingly. 

The only thing the 'newbie traders' on the forum need to know that they might not already know is you will be constantly discouraged by fools looking to vampire your share Tongue

Team Epic!

All your bitcoin are belong to 19mScWkZxACv215AN1wosNNQ54pCQi3iB7
norulezapply
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November 09, 2011, 06:06:05 PM
 #26

Speculation belongs in the speculation thread.

FUD doesn't belong here at all.

The simple fact is it's pure capitalism - if you're making money, you'd be a fool to stop making money.  Even if it's just a few cents. Profit is always worthwhile as long as the effort required doesn't exceed it.

If you're not making money, cut your losses.  Fire it up again when you are.

The market adjusts accordingly. 

The only thing the 'newbie traders' on the forum need to know that they might not already know is you will be constantly discouraged by fools looking to vampire your share Tongue

Yeah okay, so how exactly is this speculation or FUD?

I stated simple facts and ideas. Never at any point did I say anything like "do this and bitcoins will be >$30 in no time!"..

It is very basic capitalism, yes. It makes more sense (for the people I'm referring these ideas to) to BUY than MINE, as you can see greater profits, or rather, fewer losses. So I am only re-iterating what you said basically.

"if you're not making money from mining, considering buying instead"

Are you spreading FUD too?

If my post helped, I'll happily accept a few bitmills!   15rGg6A1JFZV3b7TTbtpAaiYGdUD1e1oAm
cicada
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November 09, 2011, 06:25:36 PM
 #27

No, just feeding the trolls Tongue

Your points make sense for anyone who is considering mining - its far more profitable to buy and trade than to invest in new equipment right now.

There is no reason someone already mining should stop if they're profitable at all - there is also no reason they can't buy *and* mine.

Team Epic!

All your bitcoin are belong to 19mScWkZxACv215AN1wosNNQ54pCQi3iB7
Manko
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November 14, 2011, 04:47:57 PM
 #28

I don't have to pay electricity bills and currently have 6 machines running (2x 5870 each). Therefore as long as someone is willing to buy BTC, I make money Smiley Not much per day, but it adds up Smiley
AngelusWebDesign
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November 14, 2011, 08:22:09 PM
 #29

I don't have to pay electricity bills and currently have 6 machines running (2x 5870 each). Therefore as long as someone is willing to buy BTC, I make money Smiley Not much per day, but it adds up Smiley

But SOMEONE is paying around $200 a month for your mining operation. Not all of us can (or will) steal that much electricity, especially without raising eyebrows/getting caught.

You must be in a college dorm or something. $200 a month is a lot, even for a business.
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