Bitcoin Forum
December 10, 2016, 09:06:05 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 [6]  All
  Print  
Author Topic: Throwing in the towel  (Read 12120 times)
muyuu
Donator
Legendary
*
Offline Offline

Activity: 924



View Profile
February 16, 2012, 08:40:49 AM
 #101

If you think the value may go up in the future but others don't, the others will stop mining, increasing the chances of you finding a block. Then in the future you will make even more money due to this drop. Right?

Sure. From an egoistic POV miners benefit from others stop mining, as long as mining doesn't go low enough to start putting the whole system in danger.

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
bb113
Hero Member
*****
Offline Offline

Activity: 728


View Profile
February 16, 2012, 08:47:33 AM
 #102

Right, it is all a matter of predicting the future.
muyuu
Donator
Legendary
*
Offline Offline

Activity: 924



View Profile
February 16, 2012, 09:11:40 AM
 #103

Right, it is all a matter of predicting the future.

Not really. If you're mining at a loss, you can use your cash in buying coins instead of paying for electricity. That will surely be a better usage of money whatever happens to BTC/$. It's only a matter of prediction only in edge cases (mining at a loss only when considering hardware devaluation, but beating the electricity bill).

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
bb113
Hero Member
*****
Offline Offline

Activity: 728


View Profile
February 16, 2012, 09:20:56 AM
 #104

Ah, makes sense
waspoza
Hero Member
*****
Offline Offline

Activity: 602


Firstbits: 1waspoza


View Profile
February 16, 2012, 12:05:16 PM
 #105

I am out, with these prices I am mining at a loss.

So short your coins at bitcoinica and make monies, its not hard.
RicePicker
Full Member
***
Offline Offline

Activity: 215


RicePicker


View Profile
February 17, 2012, 08:31:59 AM
 #106

I am not touching bitcoinia anymore I lost enough bitcoins from it already. I shouldn't have even attempted to leverage in the first place even if it was 1:2.5. Wasn't prepared for such a large drop in a matter of days. I got force liquidated .05 cents from the lowest price that was reached. Should have sold earlier.   

Everyone is entitled to their own opinion. It's just that yours is stupid! =D
Pages: « 1 2 3 4 5 [6]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!