Topic: Tarnished image - page 5. (Read 5369 times)

No that is not true. I have mined litecoins and bitcoins and many alt derivatives of such. The investing of present computer power is wasted. I also said new to bitcoins.

GPU's are out. Obsolete. Asics are throwing difficulty higher and faster than before when GPU's were all the rage. 22% jump in difficulty every 2 weeks is very hostile to any miner. Especially the emerging miner as I was.

Litecoin difficulty has only been tempered due to price of under 3.00. There is no place in which a new miner can fit in when old miners are in flux between bitcoin and Litecoin.

The alternate coin currencies get their value from Bitcoin. Alts are never worth mining unless you hold and you need to understand which to hold. Spending 200 dollars in electricity on a hunch that it will increase is not what I consider an investment.

Although I sound bitter I am not I'm giving my perspective on this whole idea. One I see very hostile to new comers.

Sell some junk on Bitmit if you want to earn coins

You're kidding, right?  Anyone in the world, anywhere in the world, with as little as a couple hundred $ to invest can have their own mining rig set up and working for them.  To invest in bitcoins you need nothing more than your own computer and an internet connection.

You mean: leave more for me?

Do not buy bitcoins at the current low price.

It's actually both.

+1

I completely agree with this. If your interest in bitcoin is because you think you can make a quick buck, you're here for the wrong reasons. However, there are still opportunities to make money in bitcoin, but it should not be viewed primarily as an investment or get rich quick scheme.

Bitcoin is money, not an investment opp.

And, you will experience whatever your mind focuses on.

These are just my feelings on the whole Idea of Bitcoin. In all honesty I see a very hostile environment. As a new person to bitcoin I can't see this as a welcoming forum. I see the same as every other aspect of society.

The leaders seem to be on the take, the manufactures of devices either only accept bitcoins which someone who is starting does not have or accept pre-orders and ship after ROI has almost vanished. The difficulty is rising so fast that in order to make more than breaking even one must make a large sunk cost to have any chance.

There is no avenue for small investors that empathizes with the motto of Bitcoin decentralization. At the same time I don't want to say I am naive to believe that companies and or organization would give out free opportunities. So why would anyone want to invest in something that is so hostile to new people.

As the only reason why I sit here on this forum is to see how this all ends up. Me being curios is the only reason as to why I sit here and watch the worst of humanity conducts its business.

GPU's are dead
small Asics are sold in large batches to stay above the difficulty curve to be able to make money. I don't know about you but I don't trust group buys
Asics are going to less decentralized members

There is no room for me. To be honest I think I never was in and although I have tried and have given bitcoin more than enough of my attention I have seen the worst in people.

I'll watch some more and then go on to other things. Hope that does not happen in a large scale.