The Mining Incentive

[bitzcointalk]

The mining incentive is a scam.
Everyone who supports a coin with a mining incentive is a criminal.
Mining incentive needs to be removed from all coins.
The mining incentive is a scam.

http://www.vnbitcoin.org/litecoincalculator
No incentive, no war, probably only exchanges would ever buy hardware.
I will re-post this recommendation, you can be sure of that. In the mean time.
Join the class-action.

[xwtfbobx]

/facepalm

[goozman96]

Thank you for your opinion; come again!

Just cuz you missed out on the early mining days doesn't mean you should be calling people criminals.

[dropt]

The mining incentive is a scam.
Everyone who supports a coin with a mining incentive is a criminal.
Mining incentive needs to be removed from all coins.
The mining incentive is a scam.

http://www.xxbitcoin.org/litecoincalculator
No incentive, no war, probably only exchanges would ever buy hardware.
I will re-post this recommendation, you can be sure of that. In the mean time.
Join the class-action.

WTF is this garbage?   

[bitzcointalk]

You got the site wrong...

http://www.vnbitcoin.org/litecoincalculator

And yes, mining incentive is a scam, sorry folks.
Big companies have been selling non ROIable hardware preorders for a long time now.

[cbeast]

There are scams in every unregulated industry. If you are scammed, then sue. QED. Don't blame it on Bitcoin. Like any business, some are good at it and make money while some don't. That's just business. Plenty of miners do make profits of they would be turning off their miners.

/thread

[wunkbone]

Mining is a bad investment and not a scam ....

[bitzcointalk]

Well, if you don't want folks to fall for this 'bad' investment and sully the coin and possibly ruin their lives and time and frustrations.
Then you agree the mining reward should be abolished. Fix the problem. 

[os2sam]

Well, if you don't want folks to fall for this 'bad' investment and sully the coin and possibly ruin their lives and time and frustrations.
Then you agree the mining reward should be abolished. Fix the problem.  

Then lets get rid of those pesky transaction fees too.  That's stealing.

Nobody should need to actually work for what they receive.  All means of earning should be abolished for the good of mankind.

Edit: on a more serious note, if you abolish the reward you abolish coin generation and abolish the coin altogether.

So what you really want is to abolish Bitcoin.

[bitzcointalk]

abolish the mining reward.
pre-mine the rest of them and sell them.
otherwise, the coin is a scam.
i don't care how you solve it.
I dont have all the answers.
just do it. do it now. 

[jonnybravo0311]

abolish the mining reward.
pre-mine the rest of them and sell them.
otherwise, the coin is a scam.
i don't care how you solve it.
I dont have all the answers.
just do it. do it now. 

If you abolish the reward for mining coins, how will any more be generated?  Pre-mining doesn't solve anything if you're not generating coins by solving blocks.  Even if it did, your proposed solution is to put every single coin into the hands of a single mining entity who will then sell them?  Yeah, that'll work out really well...

In any case, the generated coins from solving a block are not a scam.  That incentive is to bring new coins into the market and also reward miners for securing the blockchain.  Eventually those coin rewards will be superseded by transaction fees as the network grows and the coin is adopted more broadly.

How do you think Visa/MC/Amex/etc work?  They rely upon transaction fees to support them.

[os2sam]

I dont have all the answers.

Doesn't seem like you even have a question much less an answer.  I'm sorry you don't understand basic precepts of Bitcoin or mining.  Please educate yourself or move onto something you do understand.  Not trying to be mean just trying to get you to take responsibility for your own decisions and to make them wisely.
Sam

[bitzcointalk]

After (some) research, MANY believe the mining incentive can be a nice business to get into.
Instead MANY are being scammed by these hardware manufactures.
Please, discuss this topic among yourselves.
Remove the mining reward, it is a scam. 

[jonnybravo0311]

After (some) research, MANY believe the mining incentive can be a nice business to get into.
Instead MANY are being scammed by these hardware manufactures.
Please, discus this topic among yourselves.
Remove the mining reward, it is a scam. 

Perhaps instead of simply stating the same thing over and over you might provide some evidence for your argument.  Explain why you think the mining reward is a scam.

[os2sam]

After (some) research, MANY believe the mining incentive can be a nice business to get into.
Instead MANY are being scammed by these hardware manufactures.

It does seem to be or at least has been a nice business to have been in.  Whats wrong with that?

Many are buying or have bought hardware of their own free will.  That does not constitute a scam?

[bitzcointalk]

After (some) research, MANY believe the mining incentive can be a nice business to get into.
Instead MANY are being scammed by these hardware manufactures.

It does seem to be or at least has been a nice business to have been in.  Whats wrong with that?

Many are buying or have bought hardware of their own free will.  That does not constitute a scam?

Sure, Titan batch1 not delivered yet. Folks paid 10k for it and look now: http://www.vnbitcoin.org/litecoincalculator
Pay close attention to the 'days to break even', then try to tell me the company did not know about this.
Then try to tell me where on kncminer page you see the company explaining that it is not an investment, in a way
that everyone can understand, are they trying to really tell the customer that this is a bad idea if you intend
to obtain an ROI (return on the investment), i think not.

Anyway, I did say discuss among yourselves...
Now we have: http://kncclassaction.com/
Only problems.
I highly recommend the mining reward be removed from all coins.

Thank You,
    Cryptocurrency Processing.

[bitzcointalk]

Refund your customers Sam.
Do it, or be faced with the difficult decision, of exactly how to liquidate your company to me. 

[os2sam]

Refund your customers Sam.
Do it, or be faced with the difficult decision, of exactly how to liquidate your company to me. 

What are you talking about?  I don't have customers.  I don't charge for my opinion, not that anyone would pay for it.

[xstr8guy]

It's obvious to me that the OP is...

A) feebleminded
B) trolling
C) extremely intoxicated
D) all of the above

[Luke-Jr]

He's been spamming #kncminer for a few weeks now...

Also, no sign he is mining Bitcoins, so this is totally off-topic here