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Author Topic: A thought from an old timer...  (Read 1696 times)
dothebeats
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January 17, 2015, 08:57:49 PM
 #21

I was referring to coins mined in the <$3 range, which was the last time I saw people as fearful as they are now.

Do you have any virgin coins left?

Lol at the term "virgin coins". If only I knew that bitcoin will gain such a value, I definitely mine them or bought them when it was still below $50.
And again:

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The most profitable bitcoins I ever mined, were the ones I mined when it was unprofitable to do so.

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January 17, 2015, 09:08:23 PM
 #22

I was referring to coins mined in the <$3 range, which was the last time I saw people as fearful as they are now.

Do you have any virgin coins left?

Highly doubtful.  I use my coins.  If everyone just bought and held, Bitcoin would be worthless.

"If I'd had done it for the money I'd have been a fucking lawyer"

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dothebeats
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January 17, 2015, 09:18:20 PM
 #23

I was referring to coins mined in the <$3 range, which was the last time I saw people as fearful as they are now.

Do you have any virgin coins left?

Highly doubtful.  I use my coins.  If everyone just bought and held, Bitcoin would be worthless.

"If I'd had done it for the money I'd have been a fucking lawyer"

Hahaha! True on that point. If everyone just bought/mined and held, bitcoin would have got no value, and that is what's happening right now. Most bitcoiners hold their coins with high hopes that it will soon rise in price.

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"If I'd had done it for the money I'd have been a fucking lawyer"
Golden. Cheesy

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January 18, 2015, 07:04:53 AM
 #24

After the April 2013 bubble popped to $60 sentiment was low but not this low. Still, there were plenty of naysayers at the bottom, and those who gave up and capitulated. People somehow think that price is the only measure of success when currency is simply one use of the network. This is illogical.

Back then I liked Bitcoin because I read the whitepaper and learned how it worked under the hood. It's just a really amazing technology, so I bought a few coins then. I do trade to provide liquidity (it's a needed service to help stabilize the price) but I enjoy the tech being built upon it much more and what the future may hold. Back in the sub $100 days, things were quieter and developers and miners were working on improving the network and user experience. Very few thought the price would rise much through 2014. As hard as it is to conceive now, we really have come quite a long way.

Price goes up, price goes down, Bitcoin is declared dead multiple times by those who don't understand what it is. Just another storm to weather! Hang tight everyone and wear your life vests Wink
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January 18, 2015, 08:29:57 AM
 #25

The most profitable bitcoins I ever mined, were the ones I mined when it was unprofitable to do so.

So good times are ahead?

Good times are a path, not a destination. If you are being productive in the Bitcoin community, learning, and having fun, then the good times are already here. You choose your own path.

very much agreed.  the journey has been quite a bit of entertainment to say the least.
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January 18, 2015, 11:22:58 AM
 #26

The most profitable bitcoins I ever mined, were the ones I mined when it was unprofitable to do so.

You'da been richer if you bought coin back then, instead of mining it.

This. Maybe an idealist with a three-figure energy bill was prepared to mine at a loss back then, but a professional mining farm with a six-figure bill is not, lest they want to end up like CoinTerra. This is survival of the fittest, and trying to defy it is futile.
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January 18, 2015, 01:41:45 PM
 #27

Buying coins was always more profitable than mining yourself. And with the current equipment you will never see ROI in bitcoin.
The good thing is: Most miners can not properly calculate their costs. All mining equipment sellers say: Thanks TARDS for the easy money.

No it hasn't. I you had bought a Batch 1 Avalon in September 2012 for about 130-150 BTC ($1,350 wire transfer to Yifu's HSBC bank account)  it would have mined 500 BTC throughout its lifetime in 2013.
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