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Author Topic: Ponzi scheme?  (Read 2795 times)
draaglom
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May 01, 2011, 08:58:49 PM
 #21

The "honest" side of mining is that you are providing a service to the users of bitcoin - you are helping the currency to become more secure and more widely available, and getting paid (in bitcoins) for this. This doesn't account for much of mining's insane profitability though - that bit is because it is a huge bubble (if you are pessimistic) or because lots of people predict it will be the/a very important currency in the future (optimistic).
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marcus_of_augustus
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May 01, 2011, 09:01:24 PM
 #22

Tell your dad that bitcoin is the way of the future!

Put a watt meter on your mining rig and tell him you will pay him for the electricity it uses.

Bitcoin is not illegal. Tell him to let you succeed or fail on your own terms in life, how else will you learn?

You will look like a genius when they are worth $1,000 each.

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May 02, 2011, 06:56:10 AM
 #23

Tell your dad that bitcoin is the way of the future!

Well, I would advice him to believe his dad instead of a bunch of lifeless anonymous spending their time on a forum. Seriously, it's very very hard to tell the difference between foolish people and visionary people. We take the risk because we are adult, we have the right to do what we want with our money that we earn. He can't. He's 16 and, statistically, have less experience in life which means he could be fooled easily.

(Some 16 people are obviously smarter than some 50 people but that's not the point here)

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
epii
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May 02, 2011, 06:59:57 AM
 #24

+1 ploum, let's give the guy practical advice rather than ideological and idealistic advice.  This isn't worth creating some major dissent in his family, and if he doesn't play it carefully, he might not have the opportunity to get involved with Bitcoin at all.

Vires In Numeris.
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May 02, 2011, 07:36:11 AM
 #25

Tell your dad that bitcoin is the way of the future!

Well, I would advice him to believe his dad instead of a bunch of lifeless anonymous spending their time on a forum. Seriously, it's very very hard to tell the difference between foolish people and visionary people. We take the risk because we are adult, we have the right to do what we want with our money that we earn. He can't. He's 16 and, statistically, have less experience in life which means he could be fooled easily.

(Some 16 people are obviously smarter than some 50 people but that's not the point here)

16 is old enough to go to war and die in most countries ... don't be so damn patronising to the guy.

If he misses this chance at bitcoin and spends the rest of his life scraping and scrimping to get by are you going to be sending him welfare checks ploum?

You'll be responsible for stifling ambition and vision, how sad is that? (What exempts you from the lifeless anonymous on internet label anyway?)

Listen to your heart kid, do lots of reading and damn the torpedos!

You got this far, figure out why mining is good or bad and go for it .... just between you and me, if your dad can not see the potential in bitcoin he is just about an idiot.

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