Bitcoin Mining "Megathread"

[Daedalus]

its not a real currency if every transaction has to be compared to the USD (or other real currencies)
it dosnt stand on its own, and not insurred/trusted in the sense that its just a few guy's unregulated scam.


i dont see people trading bitcoins for games in their own economy. they do the math to how a bitcoin translated to USD first. then they trade based on that.
that means its not a currency. the bitcoin is 100% dependent on the USD strength. meaning you may as well trade in USD lol

You're right in the sense that it's heavily dependent on USD. That's why Satoshi and the original devs intended for it to spread throughout businesses so it could become its own system. But what you're not realizing is that there are thousands of people, as we speak, who are making large profits by just letting a computer run and measuring/speculating the market.
And then there's gambling, which is a different story.

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[Bisjac]

eventually some government(s) will shutdown darkweb for good and the bitcoin thing will be dead.
yeah there are bitcoin related things on the normal web, but at least 90% of it's purpose are for illegal use, and thats how they will sell it when that battle begins.

just like real commodities, the panic over unloading bitcoins will kill it's market, and they cant recover based just on the legal normal web coin use.

the entire thing wasnt some experiment for independent currency that can someday rival real life corrupted economies.
that was just the lie the creators used

[ShadowsfeaR]

eventually some government(s) will shutdown darkweb for good and the bitcoin thing will be dead.
yeah there are bitcoin related things on the normal web, but at least 90% of it's purpose are for illegal use, and thats how they will sell it when that battle begins.

Why does this matter. Seriously loving why. You keep bringing this up, and it doesn't matter whatsoever. We get it, BitCoins are used illegally. Okay, but we can still use it to turn a profit in USD. This stuff works almost like the stock market.

Oh I get it now. You're doing your forget-ass handicapped, "You kids don't know stuff" routine and this is with the fact we aren't using it for its "intended purpose". Cute.

[Bisjac]

you mad bro?

and no it dosnt work like the stock market, because the stock market is regulated.  each stock value coincides with a real piece of a company with a value that changes based on many factors.

bitcoins is some "printed" play money who's only factor is supply and demand, that seems to contradict itself anyways, as more people get into it, and the price can still possibly rise or fall greatly, unexpectedly.
you have no idea if they are watering it down. (what cant be done with stocks)

they dont tell you the buying and selling stats in full, when every bitcoin broker has no affiliation or responsibility to the other.

they can up and take it all away at any moment and you cant say stuff about it. because you dont actually "own" anything. just like a game's stats and gold coins, you dont own intellectual rights to data over the net. its not a unit of trade if there is no physical representational object for it. even our own USD works this way. thats why its trusted, because its insured.

and no one is getting rich off these things. or even doing that well lol.
the very rare people you guys read about, with pictures of wall racks of gpu's, you dont even know if they are real.
without regulation, the guys who created the thing would WANT as many people to believe it as they can. because they can so easily  "create" a few more to sell.

a unit of trade dosnt raise in price because it is rare. it raises in price because of how rare people believe it is. if they dont have to prove to you what they do or dont do in regards to the holdings, then you really have been suckered havnt you.

[Tyler66]

It's like you're just here to be an ass rather than post anything worth reading. It's a virtual currency made by one guy, of course there's going to be something in it you disagree with. We get it.

Now, if you would care to leave with your enormous ego.

[Bisjac]

you want me to not post here because i think bitcoins is a scam? lol

you guys created a topic and are trying hard to persuade uneducated users into using it for no reason really.
i kinda of feel obligated to help them out by listing the many facts you guys refuse to, or dont know of.

if you are ignorant of it all, thats your personal problem. no reason to rope in more suckers into a broken online trading system if they can help it.

[Treynolds416]

What's the worst that could happen, bisjac? I waste a couple hours of my life and don't get any profit from it? That's certainly a risk I would be willing to take

[Tyler66]

you want me to not post here because i think bitcoins is a scam? lol

you guys created a topic and are trying hard to persuade uneducated users into using it for no reason really.
i kinda of feel obligated to help them out by listing the many facts you guys refuse to, or dont know of.

if you are ignorant of it all, thats your personal problem. no reason to rope in more suckers into a broken online trading system if they can help it.

The risks are already listed there. Clear as day in the OP. I don't understand why you're repeating almost everything I said.

[Bisjac]

there are many things that are without risk. that dosnt mean they are intelligent decisions.

the OP and his boys here are telling stories of how to become rich of this crap lol.
go fill out some internet surveys, they pay just as well.

[Tyler66]

I, myself never mentioned becoming "rich".
Anyone who put effort into a proper rig or upgraded their rig for mining will end up with a little profit at most. Not hundreds upon thousands of dollars.

[.:FancyPants:.]

Clear as day in the OP.

i had three pretty straightforward questions right at the bottom of page 1.
maybe you should edit the op so it describes what confused me, so no one else gets confused.

[ShadowsfeaR]

you want me to not post here because i think bitcoins is a scam? lol

you guys created a topic and are trying hard to persuade uneducated users into using it for no reason really.
i kinda of feel obligated to help them out by listing the many facts you guys refuse to, or dont know of.

if you are ignorant of it all, thats your personal problem. no reason to rope in more suckers into a broken online trading system if they can help it.

Because everyone is going to invest in a $100+ miner and if the BitCoins fail, you get no return on investment.

Most people here just mine with what they have, GPU's. You aren't risking anything. Boohoo, I wasted a few hours mining. When the price goes up, sell them. When it goes down, keep mining. It's really not that complex on the simplest of levels. You are expecting everyone here to be some market master who deals with clients all over the Internet. We're just loving sitting on our computers letting our GPU run. In fact, most people just let it run over night, so you aren't doing anything on the computer to begin with.

[Tyler66]

i had three pretty straightforward questions right at the bottom of page 1.
maybe you should edit the op so it describes what confused me, so no one else gets confused.

Sure. I'll go ahead and them to the OP.

[ShadowsfeaR]

I'd just like to say that the Big Bad Bisjac just loves to stick his richard in every thread that rustles his jimmies in the slightest of ways. Trying to act like the bad-ass kid of the school, he consistently makes himself look like an ass by trying to be the "old wise guy". Bisjac: "Everyone is inferior to me, and let me explain why in excruciating and asinine detal".

[SiliconCactus]

its not about investing or profit. thats just how they sell it to the idiots on the internet, so to hide its true purpose.

most people pay for the coins they want, so to go straight to the bartering with them. they arent concerned about mining or how the price fluctuates. because its unreliable and silly for true investors to even look at.
its great that they arent into banking, in the sense that there is no paper trail for what you want to spend on. but they also arent insured for your losses when they steal from you or crash or add coins to inflate themselves at whim.

and you cant go into stories of how a person can buy more hardware so to earn a ton more daily. that is ridiculous. the few people even attempting such things spend more then they make to do so.

and 5 a day? i guess running a comp for 24 hours, and not being able to game on it during those times. yeah what a waste.

$25 a day, running an ASIC 4.5 GHash/s computer that you can buy for $150, without having to sacrifice your gaming computer. Just saying.