Throwing in the towel

[muyuu]

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.

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[bb113]

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

[muyuu]

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).

[bb113]

Ah, makes sense

[waspoza]

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]

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.