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WaffleMaster
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January 13, 2015, 02:52:01 PM |
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I'd like to see Bitcoin drop from it's bubble. Take out some of the idiots that are trading it like stock instead of converting to and from it like worldwide currency which is the amazin tech advancement it brought to the world. If you want to buy and hold something get a stock brocker and buy Google. Lmao is it hard to understand?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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MinermanNC
Legendary
 Offline
Activity: 2198
Merit: 1000
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January 13, 2015, 02:56:45 PM |
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Waking up to even a lower BTC,,,hmmm I am just wondering how Josh plans to buy back XPY at 20.00, now or in the future without much BTC value, I am sure that's a big part of it and sure is going to hurt that effort, assuming he really plans to. Only good news is last night I gobbled up GHash mining shares on cex.io dirt cheap lol, now the big question is, will they ever turn back on cloud hashing  but I still have confidence BTC will rebound, and after having an active account with cex.io since the beginning I felt it worth the risk. Much better to do that than gobble up XPY on a notion of a 20.00 buy back  |
*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
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Paul Revere
Sr. Member
Offline
Activity: 406
Merit: 260
The Scamcoats are coming!
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January 13, 2015, 02:58:45 PM |
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Waking up to even a lower BTC,,,hmmm I am just wondering how Josh plans to buy back XPY at 20.00, now or in the future without much BTC value, I am sure that's a big part of it and sure is going to hurt that effort, assuming he really plans to. Only good news is last night I gobbled up GHash mining shares on cex.io dirt cheap lol, now the big question is, will they ever turn back on cloud hashing but I still have confidence BTC will rebound, and after having an active account with cex.io since the beginning I felt it worth the risk. Much better to do that than gobble up XPY on a notion of a 20.00 buy back I see the hash rate on Ghash is still around ~40 PHs. Seems like they have not actually shut anything off at this point. |
All of my posts are simply statements of my own personal opinions based on available information and pondering what might be possible considering human nature, with the goal of finding truth and preventing fraud. Please look at all of the facts and theories and put your thinking cap on to draw your own conclusions. If you feel that I have made a false statement or have been unnecessarily derogatory, I encourage you to please point it out, and if proven correct and/or reasonable I will remedy it. ~ Paul Revere
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galdur
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January 13, 2015, 03:00:03 PM |
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You´ve got to admit that this is looking down right scary. Imagine the retards that have been buying this thing. Sheesh.  |
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galdur
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January 13, 2015, 03:19:14 PM |
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Quote from: bitpop on December 03, 2014, 02:38:22 PM
Quote from: randy8777 on December 03, 2014, 02:33:46 PM
i am interested in mining as newbie and this thread is easy to understand.
mining at this point is not wise? or is it better to wait for later moment when price is higher.
What's so hard about buying bitcoin? The fact you don't have to beg someone for it back?
What's so hard about buying bitcoin? Well, watching it constantly tank - I guess.
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MinermanNC
Legendary
Offline
Activity: 2198
Merit: 1000
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January 13, 2015, 03:20:33 PM |
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Waking up to even a lower BTC,,,hmmm I am just wondering how Josh plans to buy back XPY at 20.00, now or in the future without much BTC value, I am sure that's a big part of it and sure is going to hurt that effort, assuming he really plans to. Only good news is last night I gobbled up GHash mining shares on cex.io dirt cheap lol, now the big question is, will they ever turn back on cloud hashing but I still have confidence BTC will rebound, and after having an active account with cex.io since the beginning I felt it worth the risk. Much better to do that than gobble up XPY on a notion of a 20.00 buy back I see the hash rate on Ghash is still around ~40 PHs. Seems like they have not actually shut anything off at this point. Yes that's correct, 40+ PH and was the first thing I looked at! lol I am sure they will keep mining without the added burdens of cloud services, kinda lean up operations and keep the BTC to pay bills and keep it alive for now. Lets just hope we see a rebound soon. May never see BTC go this low again for a while, I seriously doubt its going away anytime soon. But could go even lower before a turn around. |
*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
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WaffleMaster
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January 13, 2015, 03:28:42 PM |
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You trade an emerging market you're going to get burned. Enough said. Personally I would still love to use Bitcoin as a currency if it's $1, 10 cents or $2,000 it doesn't matter. Quickly transferring in and out of it like it was intended to be used is a win win. I guess I could use Paycoin2 to buy some hot sauce if I ever wanted to...lel
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strangerdanger101
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January 13, 2015, 03:32:19 PM
Last edit: January 13, 2015, 03:49:13 PM by strangerdanger101 |
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 https://chainz.cryptoid.info/xpy/#!extraction  The PayCoin buyback is the ponzi inhaling at a loss. I anticipate a major marketing push to bring new people into the ecosystem if you're that much of a sucker to go for it.  |
What has it got in its pocketses precious? BTC: 1KctJNLwzFK8qJPsSwDrQRNxxKnVCrZm93
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MinermanNC
Legendary
Offline
Activity: 2198
Merit: 1000
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January 13, 2015, 03:33:03 PM |
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You´ve got to admit that this is looking down right scary. Imagine the retards that have been buying this thing. Sheesh. Ya somewhat but I tend to look at the long and big picture. When I started mining BTC was just breaking $30.00 very little name recognition and development then. So I feel this is just the cycles and growing pains of a new technology. I also feel, it been over priced as well for a long time. The onslaught of asics, centralized mining farms have really hurt by massively increasing difficulty levels. Hopefully this price drop will serve a form of cleansing or flushing out of sorts, maybe a reset time for many. And get rid of the speculators who have driven BTC on wild ride for quite some time now. Its already stabilizing. Still may be feeling some effects of the bitstamps stolen coins hitting market? and how they may be attempting to replace missing coins? all the things will impact price. I am sure there are many waiting to see the new floor" per se and buy back up BTC while low. |
*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
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WaffleMaster
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January 13, 2015, 03:37:36 PM |
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DAMN! Literally nobody is staking haha. Edit: The picture of that guy is the best picture on this thread, and dare I say it? The internet. |
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Paul Revere
Sr. Member
Offline
Activity: 406
Merit: 260
The Scamcoats are coming!
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January 13, 2015, 03:40:34 PM |
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And meanwhile my new S5 left the sort facility here last night and I shipped out another S1 yesterday morning. Down to one "Christmas Tree Light Heater" now. IF I had not re-upped with that S5 I would darned near be at ROI right now in just 3 months of screwing around with mining. I am actually past ROI if I were to dump my gear, so at the moment this is a zero cost hobby for me.
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All of my posts are simply statements of my own personal opinions based on available information and pondering what might be possible considering human nature, with the goal of finding truth and preventing fraud. Please look at all of the facts and theories and put your thinking cap on to draw your own conclusions. If you feel that I have made a false statement or have been unnecessarily derogatory, I encourage you to please point it out, and if proven correct and/or reasonable I will remedy it. ~ Paul Revere
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galdur
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January 13, 2015, 03:40:58 PM |
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You´ve got to admit that this is looking down right scary. Imagine the retards that have been buying this thing. Sheesh. Ya somewhat but I tend to look at the long and big picture. When I started mining BTC was just breaking $30.00 very little name recognition and development then. So I feel this is just the cycles and growing pains of a new technology. I also feel, it been over priced as well for a long time. The onslaught of asics, centralized mining farms have really hurt by massively increasing difficulty levels. Hopefully this price drop will serve a form of cleansing or flushing out of sorts, maybe a reset time for many. And get rid of the speculators who have driven BTC on wild ride for quite some time now. Its already stabilizing. Still may be feeling some effects of the bitstamps stolen coins hitting market? and how they may be attempting to replace missing coins? all the things will impact price. I am sure there are many waiting to see the new floor" per se and buy back up BTC while low. It better start stabilizing or mining will mostly be history in a few weeks or months. It doesn´t take long to drop $75 as we have seen. Low price isn´t the only problem. Trading volume has been drying up. This limp demand has been trading heaven for shortsellers needless to say and will continue to be unless some real money comes in. |
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WaffleMaster
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January 13, 2015, 03:49:11 PM |
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People will mine Bitcoin at a short term loss. The big mining farms will not, but the people will once again take control of the currency. This just proves how awesome and decentralized Bitcoin is. A hundred thousand people losing $10 a month is way more manageable than one entity losing $1,000,000 a month mining. When people get too greedy and want a large portion of the hashrate, this is what happens. Go Bitcoin go! Drop more and give the power back to the people. Show the greedy pigs what they deserve :')
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clownius
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January 13, 2015, 03:50:22 PM |
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You´ve got to admit that this is looking down right scary. Imagine the retards that have been buying this thing. Sheesh. Ya somewhat but I tend to look at the long and big picture. When I started mining BTC was just breaking $30.00 very little name recognition and development then. So I feel this is just the cycles and growing pains of a new technology. I also feel, it been over priced as well for a long time. The onslaught of asics, centralized mining farms have really hurt by massively increasing difficulty levels. Hopefully this price drop will serve a form of cleansing or flushing out of sorts, maybe a reset time for many. And get rid of the speculators who have driven BTC on wild ride for quite some time now. Its already stabilizing. Still may be feeling some effects of the bitstamps stolen coins hitting market? and how they may be attempting to replace missing coins? all the things will impact price. I am sure there are many waiting to see the new floor" per se and buy back up BTC while low. It better start stabilizing or mining will mostly be history in a few weeks or months. It doesn´t take long to drop $75 as we have seen. Low price isn´t the only problem. Trading volume has been drying up. This limp demand has been trading heaven for shortsellers needless to say and will continue to be unless some real money comes in. Pro-tip As the price drops miners especially the large farms in it for the money will shut down. When they shut down difficulty will adjust down. It becomes more profitable for the remaining miners. Eventually it find the sweet spot. At some point soon idiots will stop investing hundreds or thousands of dollars chasing ever faster ASICs and just use the ones they already have for more than a month or two and difficulty wont skyrocket so much. Mining became an arms race. That was stupid. |
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clownius
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January 13, 2015, 03:51:44 PM |
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People will mine Bitcoin at a short term loss. The big mining farms will not, but the people will once again take control of the currency. This just proves how awesome and decentralized Bitcoin is. A hundred thousand people losing $10 a month is way more manageable than one entity losing $1,000,000 a month mining. When people get too greedy and want a large portion of the hashrate, this is what happens. Go Bitcoin go! Drop more and give the power back to the people. Show the greedy pigs what they deserve :')
Yeah and when all those cheap miners hit the market i may get a couple for my garage Who needs the massive mining farms arms race? |
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MinermanNC
Legendary
Offline
Activity: 2198
Merit: 1000
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January 13, 2015, 03:52:34 PM |
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People will mine Bitcoin at a short term loss. The big mining farms will not, but the people will once again take control of the currency. This just proves how awesome and decentralized Bitcoin is. A hundred thousand people losing $10 a month is way more manageable than one entity losing $1,000,000 a month mining. When people get too greedy and want a large portion of the hashrate, this is what happens. Go Bitcoin go! Drop more and give the power back to the people. Show the greedy pigs what they deserve :')
I actually agree  |
*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
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cmilian
Member
Offline
Activity: 93
Merit: 10
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January 13, 2015, 03:53:32 PM |
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Hey! I am famous, I got screen captured and pasted here !
See you at the conference.
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jackbox
Legendary
Offline
Activity: 1246
Merit: 1024
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January 13, 2015, 03:54:22 PM |
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People will mine Bitcoin at a short term loss. The big mining farms will not, but the people will once again take control of the currency. This just proves how awesome and decentralized Bitcoin is. A hundred thousand people losing $10 a month is way more manageable than one entity losing $1,000,000 a month mining. When people get too greedy and want a large portion of the hashrate, this is what happens. Go Bitcoin go! Drop more and give the power back to the people. Show the greedy pigs what they deserve :')
Yeah and when all those cheap miners hit the market i may get a couple for my garage Who needs the massive mining farms arms race? If anyone wants to dump an Anmtminer C1 cheap send me a PM. |
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MinermanNC
Legendary
Offline
Activity: 2198
Merit: 1000
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January 13, 2015, 03:55:14 PM |
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People will mine Bitcoin at a short term loss. The big mining farms will not, but the people will once again take control of the currency. This just proves how awesome and decentralized Bitcoin is. A hundred thousand people losing $10 a month is way more manageable than one entity losing $1,000,000 a month mining. When people get too greedy and want a large portion of the hashrate, this is what happens. Go Bitcoin go! Drop more and give the power back to the people. Show the greedy pigs what they deserve :')
Yeah and when all those cheap miners hit the market i may get a couple for my garage Who needs the massive mining farms arms race? This is where BTC should be ,,,, The true "peoples money" and decentralized!! Greed has definitely played a huge roll, and we may be coming full circle now, to be honest I welcome it if so  |
*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
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galdur
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January 13, 2015, 03:55:46 PM |
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You´ve got to admit that this is looking down right scary. Imagine the retards that have been buying this thing. Sheesh. Ya somewhat but I tend to look at the long and big picture. When I started mining BTC was just breaking $30.00 very little name recognition and development then. So I feel this is just the cycles and growing pains of a new technology. I also feel, it been over priced as well for a long time. The onslaught of asics, centralized mining farms have really hurt by massively increasing difficulty levels. Hopefully this price drop will serve a form of cleansing or flushing out of sorts, maybe a reset time for many. And get rid of the speculators who have driven BTC on wild ride for quite some time now. Its already stabilizing. Still may be feeling some effects of the bitstamps stolen coins hitting market? and how they may be attempting to replace missing coins? all the things will impact price. I am sure there are many waiting to see the new floor" per se and buy back up BTC while low. It better start stabilizing or mining will mostly be history in a few weeks or months. It doesn´t take long to drop $75 as we have seen. Low price isn´t the only problem. Trading volume has been drying up. This limp demand has been trading heaven for shortsellers needless to say and will continue to be unless some real money comes in. Pro-tip As the price drops miners especially the large farms in it for the money will shut down. When they shut down difficulty will adjust down. It becomes more profitable for the remaining miners. Eventually it find the sweet spot. At some point soon idiots will stop investing hundreds or thousands of dollars chasing ever faster ASICs and just use the ones they already have for more than a month or two and difficulty wont skyrocket so much. Mining became an arms race. That was stupid. Couldn´t agree more. A rare sign of intelligence on these threads. Best of luck, g |
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