After the recession of 2003 and as a member of the financial industry I began researching for a project I was calling, "The Race to Debase" which was writings about how expanding government debt would lead them all to massively print their currencies as a way to devalue them and artificially lower their debt load. Fast forward to the Great Recession of 2008-2009 and this became more and more clear to see. I decided that the world's single biggest problem was central banking and began looking into ways I could help combat the problem. When I found Bitcoin in 2011 it was clear this was the single best solution to the world's largest problem that had been made available to date. I bought into Bitcoin being the way to end banks and restrict government debt expansion. I wanted to get involved and help grow the infrastructure as a way to spread the word. I finally had somewhat of an answer to all those who asked, "but what can I do" while debating the disastrous consequences of ever expanding debt loads.
I was involved in Bitcoin for many years before ever purchasing any. I actually believe that my first Bitcoin purchase was earlier this year as a result of a falling Bitcoin price leaving me under allocated to crypto in relation with my other assets.
Back in 2011 there wasn't many options if you wanted to discuss Bitcoin. The forum was the heart of all Bitcoin activity and all Bitcoin projects had active developers that were easily contacted here to exchange ideas. Sadly, most developers in the Bitcoin community no longer stay active here as the community nowadays is full of disrespectful users only worried about inflating their forum ratings and influence to profit personally.
4.2.How much does 1 kilowatt of electricity cost?
4.3.What is better for mining: ASICs, video cards, FPGA?
4.4.How to properly dispose of the mined cryptocurrency (how much to hold, how much to sell)?
4.5.They say that mining is a constant sense of risk (the rate will fall, the lights will be turned off, the equipment will burn out), is it so?
4.5.What is the future of the solar energy market for mining?
I started mining the day I discovered Bitcoin back in June of 2011.
It has always been a hobby and a passion to me, but one I felt was important to engage in.
I pay around $0.07-$0.1 per kilowatt from the grid depending on the time of year, but also operate a solar array in order to further reduce costs and promote sustainable mining.
Looking back, I would say that video cards have had the most potential for profit with the least risk, but for the good of Bitcoin, ASICs are the obvious choice as being "better" for mining.
I don't sell any of my mined coins. I don't mine for profit, and donate all coins I mine to NastyFans.org to be distributed to seat owners. This way I am not contributing to the selling of Bitcoin and instead am trading my electricity for Bitcoin that I get into the hands of many to be held.
If you do anything for profit, there is always risk. I personally think mining for profit is bad for the industry, and people should be mining to help the Bitcoin project grow and secure the blockchain. Profits are nice, but changing the world for the better is the goal I wish more members of the community had.
Solar energy is still fairly expensive. While I think sustainable mining is important for the future, it isn't something I see for-profit operations being willing to spend money on. There is just too many ways to use that potential investment to immediately profit and those who seek profit don't tend to care much about global sustainability. I hope I am wrong, but I don't see solar being widespread in the mining industry anytime soon, perhaps not in my lifetime.
I think they are good for forum views. They keep people here active and posting. The problem is that it overpopulates the forum with typical internet forum users, and not Bitcoin users. People here value stats on posting and who is earning merit, and don't care about projects that exist on the blockchain or try to advance sustainability in the industry or create innovative Bitcoin use cases. I am certain satoshi would not have cared which posters have the most merit and would have been very interested in posters that were using the transparent and decentralized qualities of Bitcoin to innovate new use cases. So I think those things are good for the forum, but bad for Bitcoin.
I don't think there is a single "most useful" forum topic. I could probably dig and find some topic about Bitcoin banking the unbanked or giving people the opportunity to live debt free but there are so many things Bitcoin could be useful for, it's hard for me to pick one. I have found there are many helpful users in the Bitcoin Technical Support section and am impressed that they have stuck around to provide this free tech support. If there were one section of the forum I think satoshi would be happy with, it would be there.
I don't like the way merit sources were chosen and think that doomed the new DT system from the beginning. I don't like that members can get into DT1 by social engineering and not their contributions to the Bitcoin community. I don't like that the forum isn't in control of signature advertising. I would probably implement some sort of system to make merit sources more fairly determined, remove members from DT1 that have not made any contributions to Bitcoin visible on the blockchain, & have signature campaigns be an opt-in setting where payouts are managed by the forum thus eliminating signature campaign managers and the need to compete for spots in signature campaigns by making as many posts as you can with as many different alt accounts as you can create.
I do not trade on exchanges, nor do I think it is wise to do so. I handle my traditional investments the same way. I do invest my time, and energy into projects I think could have a positive influence on mankind. For example, I think Ravencoin has some lofty goals so I have promoted, invested in, and mined that to help the cause. I have also spent nearly a decade donating to, developing for, investing in, and promoting the NastyFans project, which I think is a project that is perhaps ahead of it's time and under-appreciated.
People seem to enjoy hearing about losses more than profits, so I could talk about the time I spent 90 BTC on an order of honey roasted almonds from the Bees Brothers (best almonds I ever ate) or the users I've donated a BTC to for telling a good joke. Probably the loss that hurt the most was my order with Butterfly Labs. I was one of the first to order and receive their first ASIC miners, leading to massive BTC profits. When they started taking orders for their second generation miners, it seemed like a no brainer to be at the front of that line. Unfortunately, the government got involved after many customer complaints about company mismanagement, causing absurd delays that cost those who ordered nearly everything. I personally lost about 180 BTC on that deal, and the orders were made on behalf of NastyMining, causing NastyFans to lose out on a significant amount of hashrate that should have boosted donations for seat owners far beyond what was realized.
I think DeFi has a lot of promise, but have yet to see anything truly utilized. Projects like Namecoin could have had a profound effect on government censorship, yet are ignored because a majority of the community seems to care only about profits, and not bettering the world. As Bitcoin becomes a tool to collect fees for Wall Street fund managers, I can only hope that something brings this community together and focuses us all on what we can do to make the world a more transparent and prosperous place for all human beings.
I've never been anonymous. I was ordering things from forum users with my real name and address for probably the first 4-5 years I was a member here. It wasn't until I started seeing jealously and threats from members who coveted things I felt were worthless, like my DT status, that I decided to start taking precautions to limit the use of my identity. I don't think it's a necessity to be anonymous, but do feel that being anonymous avoids headaches from immature forum users.
I honestly can't name one. I've been given a few as gifts and have read excerpts, but from my experience many of those books are written for those who weren't around to see Bitcoin mature or for extremely talented developers, of which I am neither. When I do try to read articles that come out of places like Stanford I tend to smack my head at how horrible their takes on Bitcoin are. I try to, "listen to all, follow none" but think seeing the community evolve and how individual projects and users react to circumstances is more valuable than reading a self described "professional" individual's opinion.
The best investment one can make is to pay off their debt. Bitcoin is a nice second. I think tokens that return funds from operations to investors could also be interesting, but I don't know of any. I am always on the hunt for projects that return anything to investors, but have a hard time finding any besides the one that I currently support.
I wouldn't be surprised to see it hit the $20K range, but the real fireworks will be towards the end of next year.
A few things I'm involved with...
NastyFans - A club of Bitcoin users who work together and support each other's innovations to generate and share donations with each other.
Trusted BITCOIN Escrow Service - The most popular escrow service on Bitcointalk.
Minted Seats - Physical coins that earn BTC from donations made to NastyFans.
NastyMining Green Energy Project - Sustainable Bitcoin mining project.
NastyShop - Place to purchase Minted Seats & other products I've created.