Topic: I wish I never started mining - page 3. (Read 6264 times)

yeah I do need to make peace for sure. But thinking about it in a long term perspective and knowing that this could be realized in millions lost possibly in 20 years.... it does make me want to voice my frustration a bit.

I am very thankful I am involved in btc nontheless of course. And I am investing now and have stopping adding mining capacity since around $4+ with my spare cash. Happy to be part of this great chance in the economic arena. Just wished that I made the better decision to just buy outright early when they were cheap. And $17 is still cheap though.. just neeed cash!

Difficulty isn't following price that much. I think your inversion in mining is the best you could have done. Just sell all those bitcoins if it ever goes down.

The amount I can sell btc higher is fine and all, but it only means that I will make less btc due to increasing difficulty following price hike. All I'm saying is that i would have higher total btc in my client right now had I bought instead of mined in the beginning when I first got introduced. And looking back at this fact, it does make me sick that I made the wrong choice hence my rant above. 

if I had known...

oh the lottery... and that jackpot machine... that stock... forex...

ah well... congrats on whoever won the last one...

Com'on make peace with such thoughts and be glad you're working towards getting some equipments for free and possibly sell for 'some' profit. You saw an opportunity weighed the cost and decided on something. You can be glad if today you're not making a loss and are perhaps looking at surpluses. This is how investments works.

Wait, I've just started reading up on how Bitcoins work yesterday night so I'm probably wrong, but doesn't a higher BTC price mean you're making more money by mining them? If you can sell 1 BTC for 15 instead of 10 dollars, that's a good thing right?

Was this a suicide note?

Hey you have to jup in sometime!

I don't get it.

You're complaining at yourself for not knowing the future?

Bitcoin might aswell have had its peak at $5 and maybe it would've never risen above that. You could potentially have lost thousands of $'s.

Mining dying? No, mining can't really die, it can just get harder. Someone HAS to find the BTC's before they can be traded.

So another huge price jump today. I really really really wish I had not spent all the extra money in mining equip and just bought btc instead straight up early this year. The difference is painful to think about. Not to mention that each difficulty jump is another step towards the end of mining altogether.

This is just me spending my dollar on btc equipment for mining only also. Imagine if you cashed out and reinvested mined bitcoins to buy equipment along the way, you would have lost out on much bigger chunk of your profit and more.

I was making amends with my decisions in the past, but I'm thinking now that this mistake will someday be realized in millions lost 20 years down the line and maybe more. I'm also kickin myself in the ass for not buying when it was at $7 with everything I had liquid. I wish I did it when it was at $.5, but I didn't have the balls or the vision.

It's does makes me happy the price is up, but I know that the difficulty will jump and my equipment will be making that much less btc very shortly reducing it's effectiveness once again in btc production. Sure it might be bringing in same dollar amount if price goes up keeping it in the profit range a bit longer, but you will never make as many btc as you would have if you just bought outright at this pace. I would rather have more btc for my money for the long haul rather than get a trickles of it which still will amount to less at the end. Had I known that buying btc outright will net me more btc overall, I would have just purchased instead as btc is an investment for me anyways.


Ok I'm done ranting. I guess it sucks how I can't just be 100% happy about the price going up without knowing my mining equipment will become less effective proportionally because of it for btc production. YAY to breaking the $10, $15 barrier though!