Gold collapsing. Bitcoin UP.

[tvbcof]

...
and fyi, i've been mining since 2011, first with gpu's, and then moved to asics so i understand quite well the economic incentives involved.  and for that matter, it's been incredibly lucrative mostly b/c of the price increase since then.  i've never heard you say that you mine so i'd keep my mouth shut b/c you'll never understand it completely w/o having done it.
...

I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!

I could simply buy a days worth of total mining production for the cost of a quasi-respectable mining set-up back when I was getting going (and we are more-or-less contemporaries if my memory serves.)  If I sunk all of my speculative funds into mining I could only get BTC at a relatively slow rate, and if the price went up, the rate would be even slower as other retards desperately joined in.  And tending to a mining cluster would quickly start to resemble work (and I was sick of doing that sort of work and wanted to take a break for a while.)  Since hodling and mining were both going to pay off only on a BTC price increase hodling made a hell of a lot more sense to me.

[1713548904]

1713548904

[1713548904]

1713548904

[1713548904]

1713548904

[1713548904]

1713548904

[1713548904]

1713548904

[1713548904]

1713548904

[cypherdoc]

...
and fyi, i've been mining since 2011, first with gpu's, and then moved to asics so i understand quite well the economic incentives involved.  and for that matter, it's been incredibly lucrative mostly b/c of the price increase since then.  i've never heard you say that you mine so i'd keep my mouth shut b/c you'll never understand it completely w/o having done it.
...

I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!

I could simply buy a days worth of total mining production for the cost of a quasi-respectable mining set-up back when I was getting going (and we are more-or-less contemporaries if my memory serves.)  If I sunk all of my speculative funds into mining I could only get BTC at a relatively slow rate, and if the price went up, the rate would be even slower as other retards desperately joined in.  And tending to a mining cluster would quickly start to resemble work (and I was sick of doing that sort of work and wanted to take a break for a while.)  Since hodling and mining were both going to pay off only on a BTC price increase hodling made a hell of a lot more sense to me.

I'll answer this one dimensional thinking tomorrow but in the meantime :

Gold collapsing. Bitcoin UP.

[tvbcof]

I'll answer this one dimensional thinking tomorrow but in the meantime :

Gold collapsing. Bitcoin UP.

Half a year ago we were at parity.  Now BTC is half.  Usually one needs to get divorced in order to get screwed so badly.  But keep making an ass of yourself.  Fun for everyone!

[Adrian-x]

I'll answer this one dimensional thinking tomorrow but in the meantime :

Gold collapsing. Bitcoin UP.

Half a year ago we were at parity.  Now BTC is half.  Usually one needs to get divorced in order to get screwed so badly.  But keep making an ass of yourself.  Fun for everyone!

I feel like the only ass here who got screwed badly. At the end of the day we're just expressing ideas in the hope that someone will challenge them, in a way that is meaningful - backing those ideas with ego is not a valid change.

I just need to go back 18 months to know gold's collapsing and Bitcoin's up.

I'm the ass for biting at the gold bug hook, and making my own benchmark exit $10 bitcoin and enter $1900 gold.

 "Gold collapsing.  Bitcoin UP" is my only mantra untilled Bitcoin hits $10 again while gold supersedes $2000 per ounce.

It's not that it's backed by the claimed opposite it's backed by: insert the silverbox report here.

This isn't and didn't start as a 6 month race. It's a race I started late and gave gold a massive head start and for the record it started in March 2012.

[marcus_of_augustus]

Well I see the grand tradition is being upheld right here on bitcointalk ... a goldbug thread descends into a troll pissing contest.

[boumalo]

I'll answer this one dimensional thinking tomorrow but in the meantime :

Gold collapsing. Bitcoin UP.

Half a year ago we were at parity.  Now BTC is half.  Usually one needs to get divorced in order to get screwed so badly.  But keep making an ass of yourself.  Fun for everyone!

I feel like the only ass here who got screwed badly. At the end of the day we're just expressing ideas in the hope that someone will challenge them, in a way that is meaningful - backing those ideas with ego is not a valid change.

I just need to go back 18 months to know gold's collapsing and Bitcoin's up.

I'm the ass for biting at the gold bug hook, and making my own benchmark exit $10 bitcoin and enter $1900 gold.

 "Gold collapsing.  Bitcoin UP" is my only mantra untilled Bitcoin hits $10 again while gold supersedes $2000 per ounce.

It's not that it's backed by the claimed opposite it's backed by: insert the silverbox report here.

This isn't and didn't start as a 6 month race. It's a race I started late and gave gold a massive head start and for the record it started in March 2012.

Gold used to be way cheaper before the middle of 2000's, Gold&Bitcoin are likely to both appreciate in real terms as the USD and western financial system collapse

[Adrian-x]

Gold used to be way cheaper before the middle of 2000's, Gold&Bitcoin are likely to both appreciate in real terms as the USD and western financial system collapse

Sure but my gold isn't going to make me rich it's a safety net (or insurance), and my Bitcoin have a long way to before they start crashing relative to gold. And give gold that is traded as a paper assets is a long con and real gold is not transportable over fiber optics I'd concluded it's potential store of wealth is over.

Money is memory and clay tables and paper are out and verified P2P distributed digital memory is in.

[cypherdoc]

...
and fyi, i've been mining since 2011, first with gpu's, and then moved to asics so i understand quite well the economic incentives involved.  and for that matter, it's been incredibly lucrative mostly b/c of the price increase since then.  i've never heard you say that you mine so i'd keep my mouth shut b/c you'll never understand it completely w/o having done it.
...

I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!

I could simply buy a days worth of total mining production for the cost of a quasi-respectable mining set-up back when I was getting going (and we are more-or-less contemporaries if my memory serves.)  If I sunk all of my speculative funds into mining I could only get BTC at a relatively slow rate, and if the price went up, the rate would be even slower as other retards desperately joined in.  And tending to a mining cluster would quickly start to resemble work (and I was sick of doing that sort of work and wanted to take a break for a while.)  Since hodling and mining were both going to pay off only on a BTC price increase hodling made a hell of a lot more sense to me.

i agree that buying BTC straight up is the fastest way to accumulate and that is precisely what i did back in 2011.  but not everyone has the resources or extra cash lying around to do that.  don't forget many miners are college kids or workers in places where they get free electricity.  also, there are plenty of professionals mining in places round the world where electricity is cheap and plentiful.  those are ideal places to mine.  

mining represents diversification.  you forget that miners are building out the infrastructure that is meant to replace the banking system.  its very attractive to participate in that process if you have the right conditions.  i said before, i mine to understand the psychology behind the miner, but its become more than that.  with time, i have realized that  i am one of them.  what you fail to understand, as an unprincipled, amoral, opportunistic, socialist boomer that you are, is that there is more to Bitcoin mining than just making a fast buck.  this is a Movement.  the straight up exponential rise in the hashrate is a reflection of pent up frustration with the current fiat banking system. tech savvy entrepreneurs are pouring millions into a new system meant to replace the banks.  ppl like that concept and want to help in whatever way they can besides just buying BTC.  it's an investment in knowledge accumulation as well.  if i can understand what it takes to be a successful miner, perhaps one day when the system stabilizes after having become widespread, i can be a permanent part of a an infrastructure with more certainty.  mining is a skill set that is necessary to truly understand Bitcoin.  i also see this enthusiasm in the threads of ppl wanting to set up full nodes.  they are willing to contribute freely to increase the network robustness even though there is no immediate return.  but deep down they know that if they can help perpetuate the network they will profit when the price eventually rises again.

watching videos of the early gpu miners back in 2011 made my jaw drop.  i could not believe the enthusiasm behind these guys in their garages and basements.  and how many there were.  i knew i needed to get involved to experience what it was they were feeling. turns out only one thing drives ppl like that, and that is money.  not stocks, not bonds, not gold, not assurance contracts, not smart contracts, not anything except liquid money.  this is why i'm beginning to think that the blockchain will only ever be applicable to Bitcoin as money. nothing may be able to incentivize a POW blockchain dependent on mining, like BTC has.  the only chance those other assets have is to link themselves to the Bitcoin network, security wise.  or else they're doomed to hacks or centralized intervention. but i'm not sure about this concept yet and that is besides the point.  

as miners, we're like rabid dogs; our muscles are bulging and tense, our pupils are dilated, the blood vessels on the whites of our eyes are engorged, we have saliva running out the sides of our mouths, and we're straining at the end of a leash trying to get our paws on BTC.  you can feel the intensity and competitiveness when you go to the Hardware forum.  when i first get a new batch of miners i work days, nights, and weekends to get them up and running and fine tuned to be as efficient as possible.  and this is btwn my day job responsibilities.  and that is after all the months of research in the Hardware forum in preparation for their arrival.  we are an interesting bunch that's for sure.  but it's fun to be an admin.  to gain control over your machines, connect them up to a global network and watch the software run it's magic. it's stimulating to see my machines hook up to 40, 50, or 100 other machines around the globe all the while communicating information seamlessly. i love consulting with other miners with my questions.  mostly, we're a collegial bunch trying to help each other out. it's strategic, it's challenging, and there's risk.  for a long while i was a solo miner and it's hard to describe hitting a full block reward. it's a beautiful sight to watch the stratum protocol hash away line by line trying to hit the target.  you can see the equitability in a system based on randomness right there on your screen.  Slush even hid away some cute messages for those hashes that exceed a certain difficulty just to keep us amused. there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; not to mention that they're worth a crapload of money.  i like tinkering, i like doing the math, i like learning linux, and i like the work (unlike you) to make it all happen.  guys like me will ensure that the network never fails. and there are legions of us.  i feel i'm contributing to a new innovative opt-out system that can change the world.

these are the intangible factors that go into the power of mining that only true miners understand and that will always befuddle peabrains like you.

[zeetubes]

...
and fyi, i've been mining since 2011, first with gpu's, and then moved to asics so i understand quite well the economic incentives involved.  and for that matter, it's been incredibly lucrative mostly b/c of the price increase since then.  i've never heard you say that you mine so i'd keep my mouth shut b/c you'll never understand it completely w/o having done it.
...

I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!

I could simply buy a days worth of total mining production for the cost of a quasi-respectable mining set-up back when I was getting going (and we are more-or-less contemporaries if my memory serves.)  If I sunk all of my speculative funds into mining I could only get BTC at a relatively slow rate, and if the price went up, the rate would be even slower as other retards desperately joined in.  And tending to a mining cluster would quickly start to resemble work (and I was sick of doing that sort of work and wanted to take a break for a while.)  Since hodling and mining were both going to pay off only on a BTC price increase hodling made a hell of a lot more sense to me.

i agree that buying BTC straight up is the fastest way to accumulate and that is precisely what i did back in 2011.  but not everyone has the resources or extra cash lying around to do that.  don't forget many miners are college kids or workers in places where they get free electricity.  also, there are plenty of professionals mining in places round the world where electricity is cheap and plentiful.  those are ideal places to mine.  

mining represents diversification.  you forget that miners are building out the infrastructure that is meant to replace the banking system.  its very attractive to participate in that process if you have the right conditions.  i said before, i mine to understand the psychology behind the miner, but its become more than that.  with time, i have realized that  i am one of them.  what you fail to understand, as an unprincipled, amoral, opportunistic, socialist boomer that you are, is that there is more to Bitcoin mining than just making a fast buck.  this is a Movement.  the straight up exponential rise in the hashrate is a reflection of pent up frustration with the current fiat banking system. tech savvy entrepreneurs are pouring millions into a new system meant to replace the banks.  ppl like that concept and want to help in whatever way they can besides just buying BTC.  it's an investment in knowledge accumulation as well.  if i can understand what it takes to be a successful miner, perhaps one day when the system stabilizes after having become widespread, i can be a permanent part of a an infrastructure with more certainty.  mining is a skill set that is necessary to truly understand Bitcoin.  i also see this enthusiasm in the threads of ppl wanting to set up full nodes.  they are willing to contribute freely to increase the network robustness even though there is no immediate return.  but deep down they know that if they can help perpetuate the network they will profit when the price eventually rises again.

watching videos of the early gpu miners back in 2011 made my jaw drop.  i could not believe the enthusiasm behind these guys in their garages and basements.  and how many there were.  i knew i needed to get involved to experience what it was they were feeling. turns out only one thing drives ppl like that, and that is money.  not stocks, not bonds, not gold, not assurance contracts, not smart contracts, not anything except liquid money.  this is why i'm beginning to think that the blockchain will only ever be applicable to Bitcoin as money. nothing may be able to incentivize a POW blockchain dependent on mining like BTC.  the only chance those other assets have is to link themselves to the Bitcoin network, security wise.  or else they're doomed to hacks. but i'm not sure about this concept yet and that is besides the point.  

as miners, we're like rabid dogs; our muscles are bulging and tense, our pupils are dilated, the blood vessels on the whites of our eyes are engorged, we have saliva running out the sides of our mouths, and we're straining at the end of a leash trying to accumulate BTC.  you can feel the intensity and competitiveness when you go to the Hardware forum.  when i first get a new batch of miners i work days, nights, and weekends to get them up and running and fine tuned to get them as efficient as possible.  and this is btwn my day job responsibilities.  and that is before all the months of research in the Hardware forum in preparation for their arrival.  we are an interesting bunch that's for sure.  but it's fun to be an admin.  to gain control over your machines, connect them up to a global network and watch the software run it's magic. it's stimulating to see my machines hook up to 40, 50, or 100 other machines around the globe all the while communicating information seamlessly. i love consulting with other miners with my questions.  mostly, we're a collegial bunch trying to help each other out. it's strategic, it's challenging, and there's risk.  for a long while i was a solo miner and it's hard to describe hitting a full block reward. it's a beautiful sight to watch the stratum protocol hash away line by line trying to hit the target.  Slush even hid away some cute messages for those hashes that exceed a certain difficulty just to keep us amused. there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; not to mention that they're worth a crapload of money.  i like tinkering, i like doing the math, i like learning linux, and i like the work (unlike you) to make it all happen.  guys like me will ensure that the network never fails. and there are legions of us.  i feel i'm contributing to a new innovative opt-out system that can change the world.

these are the intangible factors that go into the power of mining that only true miners understand and that will always befuddle peabrains like you.

I.bought it up until the last line. I've been playing guitar for 45 years and peabrains like you will never understand the love that I share with that. But I would never belittle someone just because they are inferior.

[tvbcof]

i agree that buying BTC straight up is the fastest way to accumulate and that is precisely what i did back in 2011.  but not everyone has the resources or extra cash lying around to do that.  don't forget many miners are college kids or workers in places where they get free electricity.

Ya, it's amazing how many people in Bitcoinland have no compunction about theft.

also, there are plenty of professionals mining in places round the world where electricity is cheap and plentiful.  those are ideal places to mine.  

mining represents diversification.  you forget that miners are building out the infrastructure that is meant to replace the banking system.  its very attractive to participate in that process if you have the right conditions.  i said before, i mine to understand the psychology behind the miner, but its become more than that.  with time, i have realized that  i am one of them.  what you fail to understand, as an unprincipled, amoral, opportunistic, socialist boomer that you are, is that there is more to Bitcoin mining than just making a fast buck.  this is a Movement.  the straight up exponential rise in the hashrate is a reflection of pent up frustration with the current fiat banking system. tech savvy entrepreneurs are pouring millions into a new system meant to replace the banks.  ppl like that concept and want to help in whatever way they can besides just buying BTC.  it's an investment in knowledge accumulation as well.  if i can understand what it takes to be a successful miner, perhaps one day when the system stabilizes after having become widespread, i can be a permanent part of a an infrastructure with more certainty.  mining is a skill set that is necessary to truly understand Bitcoin.  i also see this enthusiasm in the threads of ppl wanting to set up full nodes.  they are willing to contribute freely to increase the network robustness even though there is no immediate return.  but deep down they know that if they can help perpetuate the network they will profit when the price eventually rises again.

watching videos of the early gpu miners back in 2011 made my jaw drop.  i could not believe the enthusiasm behind these guys in their garages and basements.  and how many there were.  i knew i needed to get involved to experience what it was they were feeling. turns out only one thing drives ppl like that, and that is money.  not stocks, not bonds, not gold, not assurance contracts, not smart contracts, not anything except liquid money.  this is why i'm beginning to think that the blockchain will only ever be applicable to Bitcoin as money. nothing may be able to incentivize a POW blockchain dependent on mining, like BTC has.  the only chance those other assets have is to link themselves to the Bitcoin network, security wise.  or else they're doomed to hacks or centralized intervention. but i'm not sure about this concept yet and that is besides the point.  

as miners, we're like rabid dogs; our muscles are bulging and tense, our pupils are dilated, the blood vessels on the whites of our eyes are engorged, we have saliva running out the sides of our mouths, and we're straining at the end of a leash trying to get our paws on BTC.

OMG.  Perfect:  https://www.youtube.com/watch?v=lmB2Qb0qSNc

you can feel the intensity and competitiveness when you go to the Hardware forum.  when i first get a new batch of miners i work days, nights, and weekends to get them up and running and fine tuned to get them as efficient as possible.  and this is btwn my day job responsibilities.  and that is before all the months of research in the Hardware forum in preparation for their arrival.  we are an interesting bunch that's for sure.  but it's fun to be an admin.  to gain control over your machines, connect them up to a global network and watch the software run it's magic. it's stimulating to see my machines hook up to 40, 50, or 100 other machines around the globe all the while communicating information seamlessly. i love consulting with other miners with my questions.  mostly, we're a collegial bunch trying to help each other out. it's strategic, it's challenging, and there's risk.  for a long while i was a solo miner and it's hard to describe hitting a full block reward. it's a beautiful sight to watch the stratum protocol hash away line by line trying to hit the target.  you can see the equitability in a system based on randomness.  Slush even hid away some cute messages for those hashes that exceed a certain difficulty just to keep us amused. there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; not to mention that they're worth a crapload of money.  i like tinkering, i like doing the math, i like learning linux, and i like the work (unlike you) to make it all happen.  guys like me will ensure that the network never fails. and there are legions of us.  i feel i'm contributing to a new innovative opt-out system that can change the world.

these are the intangible factors that go into the power of mining that only true miners understand and that will always befuddle peabrains like you.

Well, you have a point that simpletons are easily amused and can be counted on as useful idiots at a systems design level.  Go down to the nearest carnival and note the queue forming for the opportunity to possibly win a $0.50 trinket for a $1 ticket.

Satoshi could have prolonged the peer-2-peer nature of the solution by leveraging the same behavior at the transmission level also.  No idea why he didn't.  It was such a no-brainer to me that for a long time I thought he did.  I thought I read it somewhere, but was either inventing it in my mind or it's been sucked pretty deeply into the memory hole.

Seeing you using the argument of ruthless competition and benign public interest in the same scrambled screed is highly reminiscent something I've read before somewhere.  Where was that?  Oh ya, here it is.

My main exposure to miners comes from this forum and the BFL threads which I ended up on.  They certainly changed Josh and Sonny's world.  It's a start I guess.

[boumalo]

Gold used to be way cheaper before the middle of 2000's, Gold&Bitcoin are likely to both appreciate in real terms as the USD and western financial system collapse

Sure but my gold isn't going to make me rich it's a safety net (or insurance), and my Bitcoin have a long way to before they start crashing relative to gold. And give gold that is traded as a paper assets is a long con and real gold is not transportable over fiber optics I'd concluded it's potential store of wealth is over.

Money is memory and clay tables and paper are out and verified P2P distributed digital memory is in.

If you have 100,000 in 2014 USD it may become 200,000 in 2014 USD in 5years where the fiat may become 70,000 in 2014 USD so the difference is huge

Gold has been a store of value for thousands of years, I don't think you understand the value of that; the fact that you and maybe 50% of the world population think it shouldn't be a store of wealth anymore is irrelevant; 90% of the world population think facebook shouldn't be valued 1Billion but it is valued 100Billions; in addition, Gold has physical properties that grant it a value for the years to come

[cypherdoc]

Well I see the grand tradition is being upheld right here on bitcointalk ... a goldbug thread descends into a troll pissing contest.

where you been, boy?

it used to be much worse than this going back to the beginning of this thread.  it was filled with goldbug trolls.

now we just have... tvbcof.

[tvbcof]

Well I see the grand tradition is being upheld right here on bitcointalk ... a goldbug thread descends into a troll pissing contest.

where you been, boy?

it used to be much worse than this going back to the beginning of this thread.  it was filled with goldbug trolls.

now we just have... tvbcof.

I rarely correct someone when they call me a 'gold bug' just as I rarely do when someone calls me a 'communist'.  I kind of get a kick out of it to be honest.

In actual fact I've not bought any gold since probably back in the 2007-ish timeframe.  Same with silver.  I switched over to picking up a bit of property after the housing bubble popped.  And, of course, some Bitcoin back in 2011 as a speculative play (which is unusual for me but to good an opportunity to pass up.)  Most likely I'll be a legitimate 'gold bug' again if/when Bitcoin does another significant leg up, but I've not done it yet since my last capitalization went toward taxes and property development.  And if PM's have a leg up corresponding to Bitcoin's, I'll probably look for other opportunities.

I harbor some negative feelings about both gold and Bitcoin.  To me they are pretty close to the same thing.  In a different but similar way I have very little affection for real estate speculation or milking the less fortunate for rent.  In an ideal society people could realistically afford to buy a house if they wished to and applied a little diligence to the effort.  At this point most of the fruits of their labor go directly into the coffers of the investor class.  That said, I'm not going to reject these types of easy-money opportunities out of a philosophical distaste which I cannot do much about anyway.  I'll vote for my conscience (and make forum posts similarly) but I'll invest for the benefit of my wallet.

[smoothie]

...
and fyi, i've been mining since 2011, first with gpu's, and then moved to asics so i understand quite well the economic incentives involved.  and for that matter, it's been incredibly lucrative mostly b/c of the price increase since then.  i've never heard you say that you mine so i'd keep my mouth shut b/c you'll never understand it completely w/o having done it.
...

I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!

I could simply buy a days worth of total mining production for the cost of a quasi-respectable mining set-up back when I was getting going (and we are more-or-less contemporaries if my memory serves.)  If I sunk all of my speculative funds into mining I could only get BTC at a relatively slow rate, and if the price went up, the rate would be even slower as other retards desperately joined in.  And tending to a mining cluster would quickly start to resemble work (and I was sick of doing that sort of work and wanted to take a break for a while.)  Since hodling and mining were both going to pay off only on a BTC price increase hodling made a hell of a lot more sense to me.

i agree that buying BTC straight up is the fastest way to accumulate and that is precisely what i did back in 2011.  but not everyone has the resources or extra cash lying around to do that.  don't forget many miners are college kids or workers in places where they get free electricity.  also, there are plenty of professionals mining in places round the world where electricity is cheap and plentiful.  those are ideal places to mine.  

mining represents diversification.  you forget that miners are building out the infrastructure that is meant to replace the banking system.  its very attractive to participate in that process if you have the right conditions.  i said before, i mine to understand the psychology behind the miner, but its become more than that.  with time, i have realized that  i am one of them.  what you fail to understand, as an unprincipled, amoral, opportunistic, socialist boomer that you are, is that there is more to Bitcoin mining than just making a fast buck.  this is a Movement.  the straight up exponential rise in the hashrate is a reflection of pent up frustration with the current fiat banking system. tech savvy entrepreneurs are pouring millions into a new system meant to replace the banks.  ppl like that concept and want to help in whatever way they can besides just buying BTC.  it's an investment in knowledge accumulation as well.  if i can understand what it takes to be a successful miner, perhaps one day when the system stabilizes after having become widespread, i can be a permanent part of a an infrastructure with more certainty.  mining is a skill set that is necessary to truly understand Bitcoin.  i also see this enthusiasm in the threads of ppl wanting to set up full nodes.  they are willing to contribute freely to increase the network robustness even though there is no immediate return.  but deep down they know that if they can help perpetuate the network they will profit when the price eventually rises again.

watching videos of the early gpu miners back in 2011 made my jaw drop.  i could not believe the enthusiasm behind these guys in their garages and basements.  and how many there were.  i knew i needed to get involved to experience what it was they were feeling. turns out only one thing drives ppl like that, and that is money.  not stocks, not bonds, not gold, not assurance contracts, not smart contracts, not anything except liquid money.  this is why i'm beginning to think that the blockchain will only ever be applicable to Bitcoin as money. nothing may be able to incentivize a POW blockchain dependent on mining, like BTC has.  the only chance those other assets have is to link themselves to the Bitcoin network, security wise.  or else they're doomed to hacks or centralized intervention. but i'm not sure about this concept yet and that is besides the point.  

as miners, we're like rabid dogs; our muscles are bulging and tense, our pupils are dilated, the blood vessels on the whites of our eyes are engorged, we have saliva running out the sides of our mouths, and we're straining at the end of a leash trying to get our paws on BTC.  you can feel the intensity and competitiveness when you go to the Hardware forum.  when i first get a new batch of miners i work days, nights, and weekends to get them up and running and fine tuned to be as efficient as possible.  and this is btwn my day job responsibilities.  and that is after all the months of research in the Hardware forum in preparation for their arrival.  we are an interesting bunch that's for sure.  but it's fun to be an admin.  to gain control over your machines, connect them up to a global network and watch the software run it's magic. it's stimulating to see my machines hook up to 40, 50, or 100 other machines around the globe all the while communicating information seamlessly. i love consulting with other miners with my questions.  mostly, we're a collegial bunch trying to help each other out. it's strategic, it's challenging, and there's risk.  for a long while i was a solo miner and it's hard to describe hitting a full block reward. it's a beautiful sight to watch the stratum protocol hash away line by line trying to hit the target.  you can see the equitability in a system based on randomness right there on your screen.  Slush even hid away some cute messages for those hashes that exceed a certain difficulty just to keep us amused. there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; not to mention that they're worth a crapload of money.  i like tinkering, i like doing the math, i like learning linux, and i like the work (unlike you) to make it all happen.  guys like me will ensure that the network never fails. and there are legions of us.  i feel i'm contributing to a new innovative opt-out system that can change the world.

these are the intangible factors that go into the power of mining that only true miners understand and that will always befuddle peabrains like you.

Cypher,

I know the exact feeling as I mined several 50 BTC blocks....one of which was mined right before I made this video: https://www.youtube.com/watch?v=54vqr88Q-Dg

Oh that seems like such a long time ago (over 3 years now).

Epic feeling!

 

P.S. and a few bonus videos: https://www.youtube.com/watch?v=pk3FEYkCvJE

https://www.youtube.com/watch?v=_MZYQThhMiQ

[tvbcof]

... there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; ...

Cypher,

I know the exact feeling as I mined several 50 BTC blocks....one of which was mined right before I made this video: https://www.youtube.com/watch?v=54vqr88Q-Dg

Oh that seems like such a long time ago (over 3 years now).

Epic feeling!

 

It can be amusing to listen to old codgers and their war stories dredged up from the fog of distant conflicts.  Some Vietnam veterans got off on shooting a gook while it failed to give others enduring wood.  It's kind of an individual thing I guess.

The thing is that it's pretty pathetic to be basing almost any current strategy on a world which is long gone and ain't coming back (absent a miracle change to POW in Bitcoin-land.)

Anyway, thanks both of you for protecting my speculative investment back in the neolithic times.  I was relying on bitches like yourselves and I'm glad you came through for me.

 - edit:  IIRC BTC had stabilized at around $5 when the 50->25 shift happened.  So 50*$5 is like $250 bucks.  Yawn.  I'd blow that at dinner, and quite a bit more than that at Tradehill-I until they closed up shop which marked the end of my buying.

[smoothie]

... there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; ...

Cypher,

I know the exact feeling as I mined several 50 BTC blocks....one of which was mined right before I made this video: https://www.youtube.com/watch?v=54vqr88Q-Dg

Oh that seems like such a long time ago (over 3 years now).

Epic feeling!

 

It can be amusing to listen to old codgers and their war stories dredged up from the fog of distant conflicts.  Some Vietnam veterans got off on shooting a gook while it failed to give others enduring wood.  It's kind of an individual thing I guess.

The thing is that it's pretty pathetic to be basing almost any current strategy on a world which is long gone and ain't coming back (absent a miracle change to POW in Bitcoin-land.)

Anyway, thanks both of you for protecting my speculative investment back in the neolithic times.  I was relying on bitches like yourselves and I'm glad you came through for me.

 - edit:  IIRC BTC had stabilized at around $5 when the 50->25 shift happened.  So 50*$5 is like $250 bucks.  Yawn.  I'd blow that at dinner, and quite a bit more than that at Tradehill-I until they closed up shop which marked the end of my buying.

Name calling. Nice.  

Are you 12? LOLz....sticks and stones ....sticks and stones  

[tvbcof]

...
Anyway, thanks both of you for protecting my speculative investment back in the neolithic times.  I was relying on bitches like yourselves and I'm glad you came through for me.
...

Name calling. Nice. 

Are you 12? LOLz....sticks and stones ....sticks and stones 

I meant it simply as a term indicating someone who works for someone else.  Not a name-calling insult as such.  My apologies.

[smoothie]

...
Anyway, thanks both of you for protecting my speculative investment back in the neolithic times.  I was relying on bitches like yourselves and I'm glad you came through for me.
...

Name calling. Nice. 

Are you 12? LOLz....sticks and stones ....sticks and stones 

I meant it simply as a term indicating someone who works for someone else.  Not a name-calling insult as such.  My apologies.

Wow so you call people bitches who work for you? lol Thanks for clearing that up. 

Hoover up as many BTC as possible...easy to do if you have an unlimited supply of $$$.

Keep the option of dumping them onto the market at any time open like the Sword of Damoclese hanging over the head of anyone who might amass to big a position (and who is not on the 'right side' of the operation.)

That would probably be a good thing for the plebes using the market.  Would suck for people who wish to use it as a medium for storage and transfer of _real_ wealth.

[tvbcof]

Hoover up as many BTC as possible...easy to do if you have an unlimited supply of $$$.

Keep the option of dumping them onto the market at any time open like the Sword of Damoclese hanging over the head of anyone who might amass to big a position (and who is not on the 'right side' of the operation.)

That would probably be a good thing for the plebes using the market.  Would suck for people who wish to use it as a medium for storage and transfer of _real_ wealth.

Cool find!  For the benefit of those who don't know the context, the exercise was one of figuring you how the goobmint could attack Bitcoin.  But yes, that's one of the reasons I'm gradually drawing down my stash.  The gov't (and others) seem to have taken my advice so some extent and are a major hodler (you may have heard of the Silk Road thing?)  And recently they are demonstrating a willingness to unload which is fairly critical in leveraging the potential threat of such a thing.

At the time I wrote that I had not dreamed up other more significant threats which I currently visualize.  Some of them guide my strategies these days more than the above.  The most significant shift is that I no longer see it as a big threat that the gov't would threaten to destroy wealth through massive market manipulations (in part because the impacts of such an operation would be transient.)  Now I see the threat more as their being able to be employed in obtaining a fair degree of control of the system and leveraging this control to the determent of all of the market participants.  Mostly by guiding the buildup of infrastructure toward entities which they already have good control of.

[cypherdoc]

... there's something indescribable to solving a block for 50 or 25 BTC all by your lonesome that will go down permanently in history; ...

Cypher,

I know the exact feeling as I mined several 50 BTC blocks....one of which was mined right before I made this video: https://www.youtube.com/watch?v=54vqr88Q-Dg

Oh that seems like such a long time ago (over 3 years now).

Epic feeling!

 

It can be amusing to listen to old codgers and their war stories dredged up from the fog of distant conflicts.  Some Vietnam veterans got off on shooting a gook while it failed to give others enduring wood.  It's kind of an individual thing I guess.

The thing is that it's pretty pathetic to be basing almost any current strategy on a world which is long gone and ain't coming back (absent a miracle change to POW in Bitcoin-land.)

Anyway, thanks both of you for protecting my speculative investment back in the neolithic times.  I was relying on bitches like yourselves and I'm glad you came through for me.

 - edit:  IIRC BTC had stabilized at around $5 when the 50->25 shift happened.  So 50*$5 is like $250 bucks.  Yawn.  I'd blow that at dinner, and quite a bit more than that at Tradehill-I until they closed up shop which marked the end of my buying.

leave it to your old stodgy peabrain to miss the bigger picture.  those 50 BTC of smoothie's are worth what now?  $30000?  you're an idiot.

and to characterize us as working for you?  lol.  some complain the miners control the whole ecosystem.  what do you say to them?