Author

Topic: Its boggling me that how noobs want to mine so badly (Read 1127 times)

legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
If you doubt I'm at 85% ROI currently, would you like to place a 1 BTC bet on it?
No, I don't waste money on speculative things. I earn bitcoin through providing services.

And I appreciate you keeping CGMiner updated and everything as that is very important for our mining infrastructure and thus bitcoin's survival. But please don't flame on me for supporting a service that has delivered everything as promised.
-ck
legendary
Activity: 4088
Merit: 1631
Ruu \o/
If you doubt I'm at 85% ROI currently, would you like to place a 1 BTC bet on it?
No, I don't waste money on speculative things. I earn bitcoin through providing services.
legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
My last miner purchase that was actual hardware unfortunately did really poorly and never reached 100% ROI Sad

With that being said, I've bought a few MH with GAW Miners and I'm currently at 85% bitcoin ROI and should meet > 100% ROI soon, which is a lot better than my previous hardware miner did.

That sounds like an ad to support your ad campaign signature. I'm quite sure your cloud hashing will be just as big a loss. I've described how cloud hashing works here, though the same is true about all mining:

You learn about bitcoin mining, read lots of advertisements, visit lots of flashy sites, compare prices, look at forecasts, consult experts, examine graphs, pick apart forum posts, make predictions based on all that and then you flush your money down the toilet. Then you spend the next 6 months making shit up to convince yourself and others you made money in the process.

I bought my scrypt hardware through GAW way before my ad campaign. I believed I was getting an excellent deal based on ROI times and difficulty. They delivered their product as described and in a very timely manner. And boy did I lose money on my black widow. But that is not GAW's fault, I made a bad judgement call on how fast scrypt difficulty would increase.

As far as cloud mining goes....Do you doubt that I"m 85% ROI on my cloud mining hardware? Or you believe I'm at 85% and just that I won't reach >100% ROI?

If you doubt I'm at 85% ROI currently, would you like to place a 1 BTC bet on it?
-ck
legendary
Activity: 4088
Merit: 1631
Ruu \o/
My last miner purchase that was actual hardware unfortunately did really poorly and never reached 100% ROI Sad

With that being said, I've bought a few MH with GAW Miners and I'm currently at 85% bitcoin ROI and should meet > 100% ROI soon, which is a lot better than my previous hardware miner did.

That sounds like an ad to support your ad campaign signature. I'm quite sure your cloud hashing will be just as big a loss. I've described how cloud hashing works here, though the same is true about all mining:

You learn about bitcoin mining, read lots of advertisements, visit lots of flashy sites, compare prices, look at forecasts, consult experts, examine graphs, pick apart forum posts, make predictions based on all that and then you flush your money down the toilet. Then you spend the next 6 months making shit up to convince yourself and others you made money in the process.
legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
My last miner purchase that was actual hardware unfortunately did really poorly and never reached 100% ROI Sad

With that being said, I've bought a few MH with GAW Miners and I'm currently at 85% bitcoin ROI and should meet > 100% ROI soon, which is a lot better than my previous hardware miner did.

If nothing else at least mining brings new people into bitcoin and they can learn how to use bitcoin wallets, how confirmations works, send/receive coins and then talk to their friends about it. I wouldn't recommend buying any actual hardware right now, but cloud mining or just buying straight bitcoin....that I would recommend.
hero member
Activity: 784
Merit: 1004
Glow Stick Dance!
They are incapable of doing the simple math required to calculate profitability. And this doesn't just apply to noobs. I see a lot of people with high post counts who show a shocking lack of understanding and are still buying mining gear.

I've made some terrible decisions myself when I've let the excitement of mining impair my judgement. It's really hard to resist sexy new gear!
hero member
Activity: 574
Merit: 500
CoinBooster Rep
Because they think it is stupid buying something that they can get for "free" by mining. I imagine that they learn fairly quickly though  Smiley



The irony in that though.
hero member
Activity: 658
Merit: 500
Because they think it is stupid buying something that they can get for "free" by mining. I imagine that they learn fairly quickly though  Smiley



First and best answer !
newbie
Activity: 22
Merit: 0
Because they think it is stupid buying something that they can get for "free" by mining. I imagine that they learn fairly quickly though  Smiley

hero member
Activity: 658
Merit: 500
So tell me, why?

Even tho its a clear trend that only industrial mining has a chance to profit.....

Jump to: