delete

[kelsey]

oh shush........miners selling for a loss is the main way I make profit without having to mine myself 

[jrossIV]

oh shush........miners selling for a loss is the main way I make profit without having to mine myself 

If they sell for a loss it is in terms of their power cost.  It doesn't translate into profit for others.

[Jeezy911]

Am I seriously the only one that mines for fun? I like to do it, and I really dont care if it is profitable now since im it for the long haul. If you are mining to turn around and sell now, you are doing it wrong bro.

[gentlemand]

If there were no miners no one would ever be discussing this subject because it wouldn't exist.

I would've preferred to have obtained my coins via mining. I can imagine it's a more satisfying feeling.

[kelsey]

oh shush........miners selling for a loss is the main way I make profit without having to mine myself 

If they sell for a loss it is in terms of their power cost.  It doesn't translate into profit for others.

If they sell at a loss it means its cheaper for someone to buy then to mine, so therefore subsiding my acquisition. Yes I still take a risk that the price will have to rise, but it becomes a relative less expensive risk then paying for mining equipment and electricity.

[kelsey]

If there were no miners no one would ever be discussing this subject because it wouldn't exist.

I would've preferred to have obtained my coins via mining. I can imagine it's a more satisfying feeling.

equally if there was no buyers this topic wouldn't exist, need 2 parts to the equation, supply and demand.

(though of course in an ideal crypto world, people could just mine and exchange the coins for goods and services etc but being honest we all know that not why the increased interest in cryptos over time, well on the most part).

[Spyrofix]

There is nothing left to mine, it all is basically unprofitable now. I can't even sell my mining equipment on Ebay, trying to sell 1.9 m/h system using 3 Twin Frozr 7950 gpu's for 1100.00 and no takers on Craigslist. I won't part it out on Fleabay because losers will buy the gpu's and use them for 45 days then say they are not as described. So I guess I will just throw the shit in the garbage.  I have a number of miners and no way to sell it.  The noise and wear and tear on the miners is not worth the measly few dollars it makes a day after electricity costs. Litecoin falls everyday, bitcoin is flushing down the shitter, and all the rest of the shit coins are done for also.

I heard the same crap from friends and co-workers back in December 2011 when BTC fell to $1.96 each from the all time high of $36.00 in June 2011. I heard the same thing when LTC was less than $0.11 each also after falling from about $1.00 high.

If you are trying to pay today's bills with current mining proceeds you're an idiot. Mining is about speculation. You are mining for future payouts, not current ones.

Trust me I had a number of people give me hell for going $1500 in the negative every month verses coin earnings by paying electricity bills while maintaining a personal 90 ghs gpu farm back in Dec 2011. Funny thing all of those $1.96 btc turned into $1200 BTC just recently. I caught the same crap when I flipped over my gpu farms to LTC when I upgraded to all ASIC for BTC. Again, all of those LTC turned into $35.00 each from sub $1.00.

If you cannot afford to support your gpu miners for at least 180 days, you need to get out.


~BCX~



This thread moderated to control stupidity and spam only. Differing opinions welcomed.

+1 You explained the problematic very well!

[s1gs3gv]

Past performance is no guarantee of future returns. There is nothing between bitcoin and zero except hope and bravado.

Use of malicious negative trust to suppress free speech discredits the bitcoin community.

[kelsey]

Yes even now, though I mostly dump on exchanges I do 90%+ of my buys privately.

[mazuma]

Il say this flatout : Almost Every person that has joined in 2014 on this forum are fucking scumbags, with no knowledge at all, no attempt to gain knowledge either and lastly, these are the same fucks that are trying to bring about "change". Ridiculous. Also im glad its harsh times right now, it was too easy before.

[xbudahx]

The subject title says all I need to know about OP.

[kelsey]

Il say this flatout : Almost Every person that has joined in 2014 on this forum are fucking scumbags,

lol says mr registered dec 2013 

[mazuma]

Il say this flatout : Almost Every person that has joined in 2014 on this forum are fucking scumbags,

lol says mr registered dec 2013 

let me explain, when i got into this was roughly end of october, end of november this shit picked up and then influx of new miners happened (2014). I have never really said anything back then because it was enjoyable to visit. now its a cesspool and the amount of newbies just talking shit is getting nerve racking.

[zneww]

The darkpool sounds sexy.

[slapper]

Feels like someone else is posting on behalf of BCX for the last 2-3 days. Where is the real slim shady?  
Kidding aside, thank you for this piece of history. It is great to read about some of the past events.
Much appreciated.

[vrm86]

+ millionz

Few weeks ago I've completely changed my approach to mining.
I realised, that I have machine for making cheap bitcoins (according to my electricity costs 1 BTC = 360$ now) that I'm investing in some PoS coins.

Now feel like investor   Not like kid that is gaining pocket-money  

[Equate]

This time will weed out all those greedy miners who thought they would make tons of money with mining. Profits have definitely reduced over the time but I will continue mining till electricity costs even out. I was mining LTC when it was $1 and then it shot to $50. So its all about speculation and not risking what you can't afford.

[poncom]

Feels like someone else is posting on behalf of BCX for the last 2-3 days. Where is the real slim shady?  
Kidding aside, thank you for this piece of history. It is great to read about some of the past events.
Much appreciated.

I found it very comforting to read the posts from people who experienced early crashes and witnessed bitcoin going down to 1/20 of it's peak value, then going back up again.

[wasamata]

Feels like someone else is posting on behalf of BCX for the last 2-3 days. Where is the real slim shady?  
Kidding aside, thank you for this piece of history. It is great to read about some of the past events.
Much appreciated.

I found it very comforting to read the posts from people who experienced early crashes and witnessed bitcoin going down to 1/20 of it's peak value, then going back up again.

Ah, but is the alt coin market the same now as it was back then when these experts got into ltc and btc?
If not, what are the differences? Would there happen to be more shitcoins flooded the market now?

[s1gs3gv]

Il say this flatout : Almost Every person that has joined in 2014 on this forum are fucking scumbags, with no knowledge at all, no attempt to gain knowledge either and lastly, these are the same fucks that are trying to bring about "change". Ridiculous. Also im glad its harsh times right now, it was too easy before.

You might consider getting together with Spoetnik and muddafudda and starting an IED self help group. (emphasis added)