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EDIT IN MY PREVIOUS POST:
I still mine, i've still got 2 7970's spinning along, however i sold the vast majority of my hardware when multipools went under 0.008 BTC/Mh, i pay 21eurocents for 1 kw. Mining is in no way profitable for me at the moment. But i do it for the greater good. I'm betting there is more than me in here seeing it that way and only a hand full of narcicist, greedy lads like you that try manipulate believers into the crap you're selling.
EDIT IN MY PREVIOUS POST:
I still mine, i've still got 2 7970's spinning along, however i sold the vast majority of my hardware when multipools went under 0.008 BTC/Mh, i pay 21eurocents for 1 kw. Mining is in no way profitable for me at the moment. But i do it for the greater good. I'm betting there is more than me in here seeing it that way and only a hand full of narcicist, greedy lads like you that try manipulate believers into the crap you're selling.
Until yesterday I was backing and mining BC, been buying since 600 price. That was until yesterday .. then sold 25k BC, reluctant to sell last 13k at this price, but I'm not going to stop folks trading, that is pure gambling and each to their own.
But Mining? Hell no! This we have to pay for. I'd rather mine something I know how much I am due to get and buy BC then be ripped off by BCpool owners under pretence.
As I keep saying .. I mined when pool was at 500Mh .. and got paid at 1.5Ghs rate .. basically 35% of what I was due. Then price fell 15% on top.
I agree with you. Only the religiously attached will mine a coin that incurs a net loss if one were to immediately convert that coin into Bitcoin due to electricity. It really is just gambling when people mine a coin and hope like hell that it becomes profitable in the future. Problem is, we are not seeing any real demand for the coin at this point in time if you take out the impact of the multipool buying up coins and whales playing their games. Notice how these dumps are coming in faster and faster today, we will probably hit 7500 in another hour - simply because 90% of the people that buy in this market are not willing to pay the current price. Those who are paying 7700 and above are simply not able to recognize the downward trend here and are paying more than they need. We were around 4000 Satoshi last week before the pumps began again and got us on an trend upwards. Most people will probably put their money back in between 5000 and 6000 considering most pumps generally result in a slightly higher floor after the dump. Until then we will continue to go down - up to the point were the amount people are willing to buy for = the amount people are willing to sell for in equal volume.
An interesting similarity:
