I love how profit becomes evil at exactly the moment that someone else is making it. As long as I am making profit, it's healthy and good.
"It's because of these evil, greedy people that I can't make a huge profit with minimal effort."
Topic: did ASIC ruin bitcoin ? - page 5. (Read 8995 times)
I love how profit becomes evil at exactly the moment that someone else is making it. As long as I am making profit, it's healthy and good.
It does if you're one of the 97% of people at this forum who are in it for the potential UDS profits 
bitcoin is good, ASIC and big greedy companies is bad.
half right, ASIC IPO will ruin bitcoin
go look for gold with hand and pan while big money uses dynamite and excavators and tell me if its worth your time.
Same is true with ASIC
go look for gold with hand and pan while big money uses dynamite and excavators and tell me if its worth your time.
Gold mining margin is too damn small so gold will fail.
I think *maybe*, unlike the current flurry of alternative "coins", Bitcoin 2.0 (whatever that is) would do well to provide a relatively short period of time during which Bitcoin 1.0 coins can be readily converted at a fixed rate (as opposed to exchanged at a varying amount indefinitely). This is not to say post-conversion Bitcoin 1.0 coins would be worthless; on the contrary, the variable exchange would start then and be determined by classic market forces. If it is well thought out, handled carefully and with some luck then a large amount of value could flow into Bitcoin 2.0 minimizing the disruption.
If one tries to stand up Bitcoin 2.0 without a conversion program then it is just like any other alternative coin and will likely suffer from a lack of investment.
I'm not sure going all the way to an automatic conversion program is better. Trying to force Bitcoin 1.0 to shutdown altogether might be tough.
Incremental changes from 0.8.3-beta through to 1.0 and beyond and even to 2.0 or higher might not be able to achieve fundamental enhancements like becoming ASIC hostile.
If one tries to stand up Bitcoin 2.0 without a conversion program then it is just like any other alternative coin and will likely suffer from a lack of investment.
I'm not sure going all the way to an automatic conversion program is better. Trying to force Bitcoin 1.0 to shutdown altogether might be tough.
Incremental changes from 0.8.3-beta through to 1.0 and beyond and even to 2.0 or higher might not be able to achieve fundamental enhancements like becoming ASIC hostile.
bitcoin might die because of ASIC and be replaced by bitcoin 2.0 or some new P2P digital currency. the first of anything never lasts it either dies and goes away for good or it evolves and gets replaced by something better. either way i think the future of bitcoin as it works today looks questionable. the good ol days of GPU mining are over. hopefully the next round they figure out a way to deal with people controlling the market and having the difficulty shit on ROI.
nope, if i cant make a reasonable amount that positively effects my life i will find something else to do.
But bitcoin won't die because of that. if its not profitable to mine people wont mine and bitcoin will fail
...it's in our commercial interest to see transactions confirmed quickly, maintain multiple copies of the blockchain, and so on - it's _nice_ to see some Satoshi's from the miner, but it's certainly not necessary.
nope, if i cant make a reasonable amount i will find something else to do.
Something about "worthless" and "big money" being in the same sentence is ringing as dissonance in my ears.
they will make the money and bail just like mining for gold oil or diamonds in third world countries. they will be there when its profitable and fuck you when they cant make no more off you.
Something about "worthless" and "big money" being in the same sentence is ringing as dissonance in my ears.
they will make the money and bail just like mining for gold oil or diamonds in third world countries. they will be there when its profitable and fuck you when they cant make no more.
if its not profitable to mine people wont mine and bitcoin will fail
Only if the reason they mined was for the block-reward :pAs a business we accept BTC, it's in our commercial interest to see transactions confirmed quickly, maintain multiple copies of the blockchain, and so on - it's _nice_ to see some Satoshi's from the miner, but it's certainly not necessary.
BTC will be worthless once big money has a choke hold on the BTC earned.
Something about "worthless" and "big money" being in the same sentence is ringing as dissonance in my ears.
BTC will be worthless once big money has a choke hold on the BTC earned.
I am likely only to break even and am OK with that.
fuck that, you may be OK with that but i will bet you my soul the majority of people will not be OK with that. people dont invest to break even. they expect or hope for a return.
Buy BTC.
If a restaurant is too crowded, nobody will eat there and it will go out of business.
/thread
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