Most will never make a profit mining if BTC stays under $650 for long

[Beatoftheearth]

just buy coins and mine for fun.

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[mikerbiker6]

buy coins and hold.

[Nagle]

I'm talking about the home user and bitcoin enthusiast who wants to actually acquire more bitcoin via mining. 

Any home-sized mining rig today will generate zero blocks in a month.

[bozo333]

Now sub $500. Unfortunately I think we are headed down to major support in the $440 area. Hopefully there will be a big bounce then. If not I will be turning off my machines and see what happens....

[DMeeks]

Buying mining rig now is a bad idea as BTC is cheap, buy low sell high....

[Flying Hellfish]

As a straight up investment, the risk reward ratio of mining for profit is sooooooooooooooooooo far out of whack it isn't even funny.

The profit is in making, selling AND using the shovels, (the old trifecta)

If boiled down, you can look at mining as a gamble against difficulty increase.  I don't believe many smart investors would be willing to take that bet right now.

[bozo333]

It's called 'mining the miners'...pun intended.

Exact same thing in other areas where money floats around...like the Stock Market!

CNBC, Investment advisors, Brokerages...the list is very long. The bobbing head 'traders' on CNBC are almost comical...they never talk about their losses. Guess they never have any! Hahahahaaaaa.

They make money as long as YOU stay in the markets getting their commissions and kickbacks. If you make or lose is not their concern. But should you get lucky and make too much, then you have to deal with counter party risk...The Madoff's, the Corzine's, the EDF Man's of the world.

[bozo333]

BTC/$ hit the 50% retracement of the recent top and bottom yesterday at 17:30 and is now back at the 480-ish lows for a re-test. If that breaks...hello 440! Thanks for all the memories...

Happened exactly as predicted by using traditional chart analysis, I am myself surprised it still works (sometimes). If no big bounce off 440 = we are f....d!