I am selling all of my equipment(or refunding) for the amount I placed into the investment.
I'll Buy it!
Topic: It's Over - page 4. (Read 4872 times)
I'll Buy it!
Everybody should start buying again :s
sell your rig... buy more coin, I have a feeling that 67 BTC wont be enough
Looks like I was right on time. Price dropped rapidly.
Bitcoin mining has become unprofitable for many due to electricity costs. So, purchasing hardware solely for mining at this point is completely speculative.
I sold all my bitcoins when it was $13. I made a profit of $600 but now it's not economical to mine anymore. I am selling all of my equipment(or refunding) for the amount I placed into the investment. This was a good run but bitcoin is falling apart on many fronts. I will keep 67btc in my wallet for now but im done.
Good. We don't need targii like you mining just to make USD. Also means more future BTC for me. Can I have you stuff?
It makes perfect sense that the price is dropping. Mining became super popular recently. If everyone starts mining to get USD, then that's a huge increase in bitcoin supply. There was no new increase in demand (in fact, maybe a decrease, due to all the security scandals lately), so that translates into a big price drop like what you're seeing now.
If only you could have shorted BTC, then I would have been able to make a profit.
And many people wouldn't have wasted so much money buying mining equipment, because the price would have never gotten so high, and would have steadily decreased as the mining pool increased, instead of crashing rapidly like it is now.
This is why shorting is good for the market.
If only you could have shorted BTC, then I would have been able to make a profit.
And many people wouldn't have wasted so much money buying mining equipment, because the price would have never gotten so high, and would have steadily decreased as the mining pool increased, instead of crashing rapidly like it is now.This is why shorting is good for the market.
Pack it boys. Yer finished 
Sure. But the problem is vast amount of miners who mining BTC in order to exchange for traditional currencies and there is much less ask for BTC. In other words, most people is mining BTC to get fast money and make bitcoin weaken.
Why even keep 67 BTC? If bitcoin becomes a global phenomenon, then only 1 BTC will make you wealthy. I came in too late to acquire many, but I am still very optimistic about the efficacy of the technology.
To be honest, I hope more people will stop mining now, that'll leave the rest of us more BTC to mine at the current difficulty 
I sold all my bitcoins when it was $13. I made a profit of $600 but now it's not economical to mine anymore. I am selling all of my equipment(or refunding) for the amount I placed into the investment. This was a good run but bitcoin is falling apart on many fronts. I will keep 67btc in my wallet for now but im done.
Maybe I haven't understood anything yet, but to me it seemed that bitcoin was supposed to be a means of payment, an electronic form of money.
You are treating it like it was an investment, some financial product that is somehow miraculously supposed to grow.
Those two uses of money are actually incompatible. When money is used for payment, it needs to circulate. When it's used for investment, it needs to be fixed. Money can't do both at the same time.
Exactly, I got into bitcoins only for the mining however. I had no intention to trade it like stocks.
I sold all my bitcoins when it was $13. I made a profit of $600 but now it's not economical to mine anymore. I am selling all of my equipment(or refunding) for the amount I placed into the investment. This was a good run but bitcoin is falling apart on many fronts. I will keep 67btc in my wallet for now but im done.
Maybe I haven't understood anything yet, but to me it seemed that bitcoin was supposed to be a means of payment, an electronic form of money.
You are treating it like it was an investment, some financial product that is somehow miraculously supposed to grow.
Those two uses of money are actually incompatible. When money is used for payment, it needs to circulate. When it's used for investment, it needs to be fixed. Money can't do both at the same time.
I sold all my bitcoins when it was $13. I made a profit of $600 but now it's not economical to mine anymore. I am selling all of my equipment(or refunding) for the amount I placed into the investment. This was a good run but bitcoin is falling apart on many fronts. I will keep 67btc in my wallet for now but im done.
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