Is Otoshi Laughing? (OOPS -- meant Satoshi! :P)

[TrevorS]

There's a pile of people "mining" his coins and he's surely in a position to know that it's mostly futile!  Just as with the "captains" of 18th/19th century Western capitalism (oil, steel, etc.) Bitmining tries to stand, but does it have a tangible chance?  I'm suspecting Otoshi is having a great laugh at our general expense, Bitcoin is perhaps the latest opportunity for average people (including me) to achieve success!  But in reality, does this have anything whatsoever to do with the possibility of wealth for the middle or lesser classes? I suspect not, it's just another chimera, an illusion that appears the opportunity of a lifetime (or at least the immediate future), but ultimately falls flat! Sorry if this occurs as a downer, but I suspect it's a fair evaluation!  I'm open to rebuttal!  

[-ck]

There's a pile of people "mining" his coins and he's surely in a position to know that it's mostly futile!  Just as with the "captains" of 18th/19th century Western capitalism (oil, steel, etc.) Bitmining tries to stand, but does it have a tangible chance?  I'm suspecting Otoshi is having a great laugh at our general expense, Bitcoin is perhaps the latest opportunity for average people (including me) to achieve success!  But in reality, does this have anything whatsoever to do with the possibility of wealth for the middle or lesser classes? I suspect not, it's just another chimera, an illusion that appears the opportunity of a lifetime (or at least the immediate future), but ultimately falls flat! Sorry if this occurs as a downer, but I suspect it's a fair evaluation!  I'm open to rebuttal! 

Is Otoshi some kind of altcoin dev?

[TrevorS]

Sorry, but I don't follow your input, has Otoshi become some kind of mystery person?  Somehow disconnected?  Or is this something to do with SHA Vs Scrypt?  No problem if it is, I'd prefer to see a more promising future! (If I'm managing to miss-spell a name, I surely apologize, it wasn't intentional! Tried checking via Google)

[Kprawn]

Do I smell a troll? Or a bad attempt at sowing bad seeds towards bitcoin?

If you actually just misspelled Satoshi it would be a honest mistake. It's not as easy as Bill Gates. 

Satoshi's technology already made a huge difference in a lot of peoples life's. Go to Argentine and ask the bitcoin community, how it changed their life's.

Also go to Africa. {Some cool articles have been found on the internet, on how innovative projects have changed peoples life's.}

A few examples :

http://www.coindesk.com/bitcoin-helps-anti-poaching-teams-new-charity-campaign/
https://whollyhemp.com/about/?loans=bitcoin#Charity

So yes, I think he is smiling, for the right reasons. 

[Billbags]

Just buy a bigger miner, get the gyft card app and enjoy life!!!!!!

[ChuckBuck]

Is Otoshi, Satoshi's evil alt coin twin brother? 

Tomax and Xamot?!  Superman and Bizarro Superman?!  The Olsen Twins!!!!

[TrevorS]

No, I just screwed up the name, sorry about that !

Reason for the post was simply that I'd been reading plenty of posts indicating that ROI is basically hopeless regardless of the miner you buy.  If it's basically hopeless, then it really comes down to a hobby, which is certainly fine, but the amount of money that gets invested in miners and electricity weighs against its wisdom as a hobby.

I started mining with a PC out of curiosity several weeks ago and quickly retired my eight core CPU (just installed as an upgrade for video rendering) as it was accomplishing next-to-nothing relative to the Pitcairn GPU, and both were creating lots of heat and consuming lots of electricity.  Learned of USB miners which would be a huge improvement both in production and electricity and switched over one-week-in to three used Antminer U2s.  By another week I'd expanded to four USB strips and added six NF6 miners.  I'm having some fun watching the gradual accumulation of fractional bitcoin, but I've realized my 70Gh/s is hopelessly inadequate if I really want to produce BTC.  So, for the last couple weeks I've been wrestling with the idea of purchasing an Antminer S3, at which point my production would make a significant jump, but likewise would power consumption.

I've been debating whether I should buy an in stock S3 now for more, or a batch 8 for less that would arrive probably four to five weeks later.  But perhaps it just doesn't make much sense to buy another miner at all!  Hobby or serious endeavor?  If serious endeavor, how practical?

[Bitsaurus]

No, I just screwed up the name, sorry about that !

Reason for the post was simply that I'd been reading plenty of posts indicating that ROI is basically hopeless regardless of the miner you buy.  If it's basically hopeless, then it really comes down to a hobby, which is certainly fine, but the amount of money that gets invested in miners and electricity weighs against its wisdom as a hobby.

I started mining with a PC out of curiosity several weeks ago and quickly retired my eight core CPU (just installed as an upgrade for video rendering) as it was accomplishing next-to-nothing relative to the Pitcairn GPU, and both were creating lots of heat and consuming lots of electricity.  Learned of USB miners which would be a huge improvement both in production and electricity and switched over one-week-in to three used Antminer U2s.  By another week I'd expanded to four USB strips and added six NF6 miners.  I'm having some fun watching the gradual accumulation of fractional bitcoin, but I've realized my 70Gh/s is hopelessly inadequate if I really want to produce BTC.  So, for the last couple weeks I've been wrestling with the idea of purchasing an Antminer S3, at which point my production would make a significant jump, but likewise would power consumption.

I've been debating whether I should buy an in stock S3 now for more, or a batch 8 for less that would arrive probably four to five weeks later.  But perhaps it just doesn't make much sense to buy another miner at all!  Hobby or serious endeavor?  If serious endeavor, how practical?

At this moment in time no hardware vendor looks to be a money maker - everything would be a hobby or to support the network at the user's expense.  This may change, but that's how it is currently.

[fusioncoins]

Otoshi isn't laughing because nobody is mining Otoshicoin.

[TrevorS]

I'll say one thing for it, at least there's a material return!  I built a couple PCs with fast processors and largely dedicated my others to crunching SETI a number of years ago and the most you looked forward to was a certificate!  Was a lot of fun though, thanks to the community, but then the structure changed to BOINC (less friendly IMO) and my electricity cost took a jump.  I bowed out after roughly a year and a half.

I expect the excitement factor must have been much greater in the early days of BTC when one could apparently get decent return with just a PC.  Perhaps a good strategy today would be dollar cost averaging BTC purchases and not actually mining at all -- or maybe both with a minimum investment in latest tech mining as an ongoing hobby (tech averaging?)  Any recommendations for BTC purchasing?