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shawshankinmate37927
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May 13, 2014, 02:49:33 AM |
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the thing with mining that nobody seems to acknowledge is this;
If you have a rig that cost 1000$, paid for it in fiat, run it for one year and it mines a total of one single btc, it seems like a colossal loss at current prices. but if the btc price rises to 10 000$ in the future, even ten or twenty years from now... you have still made a good investment.
in traditional investing, doubling your money in ten years is seen as a decent conservative return. so if btc is even only worth 2000$ in 2024 you have a win, my friends.
support the network and hodl!
Or you could just buy 2 btc... just caught myself as you posted (edited) As far as I'm concerned, the only way to achieve ROI is to successfully mine more BTC than you would have been able to buy with the fiat you spent on the mining equipment. (Or, if the mining equipment is priced in BTC, mine more BTC than the amount of BTC that was spent on the equipment.) Now, of course, we know that the IRS considers mined BTC to be income as soon as it's mined, and expects to receive their cut. So, that's another cost that Americans have to take into consideration that makes achieving ROI even more difficult. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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May 13, 2014, 02:56:24 AM |
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I am sure that the majority of people can't/won't respect the SSS. Most of the people never did trading and usually people are very anxious and don't respect any plan. Sentiments get involved very often when it comes to money and a quick win or loss matter much more than the SSS plan. How many people who bought at 32$ before the fall didn't quickly exchanged them at 100$ or 200$ to just feel sorry about it at 1100$? For me mining makes it very easy to manage things. I can cash out money every month, I can save bitcoins, I can sell equipment, I can shut down equipment and turn it on when the BTC exchange rate is better etc. |
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romerun
Legendary
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Activity: 1078
Merit: 1002
Bitcoin is new, makes sense to hodl.
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May 13, 2014, 03:18:33 AM |
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 This meme came up on every rally |
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BitHub
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May 13, 2014, 04:09:30 AM |
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how come the price keeps tanking?
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Fordee
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May 13, 2014, 04:52:24 AM
Last edit: May 13, 2014, 05:23:26 AM by Fordee |
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how come the price keeps tanking?
As it's been tanking so long, the bigger question isnt' why someone is selling, but why the true belivers are not snapping up cheap shares knowing about Gen3 release shortly. And... ponder this.. If nobody is snapping them up now, what makes you think there is going to be a huge rally when the div's come back? edit: I'm confused by this myself.. anybody? |
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explorer
Legendary
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Activity: 2016
Merit: 1259
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May 13, 2014, 06:57:02 AM |
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how come the price keeps tanking?
As it's been tanking so long, the bigger question isnt' why someone is selling, but why the true belivers are not snapping up cheap shares knowing about Gen3 release shortly. And... ponder this.. If nobody is snapping them up now, what makes you think there is going to be a huge rally when the div's come back? edit: I'm confused by this myself.. anybody? Most taking this ride have filled their positions months ago. It was even cheaper then. |
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necro_nemesis
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May 13, 2014, 10:17:00 AM |
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how come the price keeps tanking?
As it's been tanking so long, the bigger question isnt' why someone is selling, but why the true belivers are not snapping up cheap shares knowing about Gen3 release shortly. And... ponder this.. If nobody is snapping them up now, what makes you think there is going to be a huge rally when the div's come back? edit: I'm confused by this myself.. anybody? Most taking this ride have filled their positions months ago. It was even cheaper then. and completely a gamble since there wasn't even an ASIC. Regardless of the increase in price it's a comparably better investment now then what people rolled the dice on then. The chance of failure was far too great at that point. |
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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May 13, 2014, 11:48:25 AM
Last edit: May 13, 2014, 05:15:03 PM by RoadStress |
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This meme came up on every rally But for the moment there isn't any rally. So while you are holding BTC I'm moving money every month. Of course if I knew that we had a 2 month rally like last year from 100$ to 1100$ I would prefer to buy and hold, but until the rally happens I'm moving BTC and cash all the time while holders do nothing. Edit: I'm sure that everyone that bought BTC and is holding got them at more than 450$ or more than 500$. For the moment the places are reversed. The one holding is just sitting while miners are moving money. |
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bkminer
Full Member
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Activity: 216
Merit: 100
Don't let the nam-shub in your operating system.
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May 13, 2014, 07:53:18 PM |
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If you have a rig that cost 1000$, paid for it in fiat, run it for one year and it mines a total of one single btc, it seems like a colossal loss at current prices. but if the btc price rises to 10 000$ in the future, even ten or twenty years from now... you have still made a good investment.
I mentioned this to a friend the other day and he said it's not that simple, over those years you are waiting for the price to go up the value of the dollar is dropping.... |
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gogxmagog
Legendary
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Activity: 1456
Merit: 1010
Ad maiora!
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May 13, 2014, 09:02:02 PM |
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yes I'm wrong. I posted without thinking there. deleted.
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minerpumpkin
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May 13, 2014, 09:46:31 PM |
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Thanks to everyone casually buying 1 share and keeping the price a tad higher, every time someone eats through the bids.  |
I should have gotten into Bitcoin back in 1992...
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shawshankinmate37927
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May 13, 2014, 10:42:38 PM |
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Thanks to everyone casually buying 1 share and keeping the price a tad higher, every time someone eats through the bids. But lower prices are a good thing for those that are buying or still accumulating. The share price shouldn't matter for those that are waiting on the dividends to start being paid again. It's how much the dividends are going to be that really matters. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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BitHub
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May 14, 2014, 02:38:22 AM |
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guys its tanking again
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Lohoris
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May 14, 2014, 09:35:45 AM |
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yes I'm wrong. I posted without thinking there. deleted.
I appreciate very much being able to admit one's mistake and fixing it, thank you! |
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minerpumpkin
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May 14, 2014, 10:17:30 AM |
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Thanks to everyone casually buying 1 share and keeping the price a tad higher, every time someone eats through the bids. But lower prices are a good thing for those that are buying or still accumulating. The share price shouldn't matter for those that are waiting on the dividends to start being paid again. It's how much the dividends are going to be that really matters. Sure! I was merely talking about the feelings I have when I take a look on Havelock  |
I should have gotten into Bitcoin back in 1992...
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Franktank
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May 15, 2014, 02:20:10 AM |
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Is that friedcat? Will any IPO investor confirm? |
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jimmothy
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May 15, 2014, 02:32:06 AM |
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Is that friedcat? Will any IPO investor confirm? Don't think it's FC unless he refers to himself in the third person. Read a few more of his posts and found the exact specs: Dell 750W server power supply, power consumption between 700-800W / / @ in Xie Ph.D. study : how many W of power / / @ Zhao Lotte : Nominal 716G, 768G Although he has a screenshot of it running above 800gh |
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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May 15, 2014, 02:36:31 AM |
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So no density and same power consumption as most of the miners available right now. |
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