ok ill bite into this, lets say that you take the mining incentive and premine the rest of the coins and give it to all active wallets, so everyone gets a cut.
so no mining reward, so no more mining needed, then what happends with bitcoin, the blockchain needs mining to keep moving, so no mining no blockchain, no blockchain no transactions, no transactions and poof goes the bitcoin, yeah sounds like a scam to me.
Topic: The Mining Incentive - page 2. (Read 4597 times)
Ok, I'll say it again...
The more new miners come in, the more my position in mining is secure because new miners have a life expectancy of 3 months before they're entirely broke. Then they bitch about everything but their own management skills. Now only that, they are inredibly stupid, they know 1% ofa 100% segment and think it's enough to get by.
I been mining Gold for years and I spent a lot of money before I made any... See where I'm going?
Plus if you knew history, you'd understand the term: Miner Extortion... and you'd also know it's only temporary.
To those saying mining's a scam, I look at my wallet and thank the $2,500 investment I made last year and now pays for itself.
That same investment pays for solar power, whatever power bill, re-investment cost (1th/s per mo.) and can save some coin.
In the end, I'll have a solar powered farm if I get out of mining.
All from a $2,500 investment a year ago.
To me, that's a pretty good fucking investment but I know wtf I'm doing and crunch numbers daily.
I will do that deal any day and twice on Sunday.
The more new miners come in, the more my position in mining is secure because new miners have a life expectancy of 3 months before they're entirely broke. Then they bitch about everything but their own management skills. Now only that, they are inredibly stupid, they know 1% ofa 100% segment and think it's enough to get by.
I been mining Gold for years and I spent a lot of money before I made any... See where I'm going?
Plus if you knew history, you'd understand the term: Miner Extortion... and you'd also know it's only temporary.
To those saying mining's a scam, I look at my wallet and thank the $2,500 investment I made last year and now pays for itself.
That same investment pays for solar power, whatever power bill, re-investment cost (1th/s per mo.) and can save some coin.
In the end, I'll have a solar powered farm if I get out of mining.
All from a $2,500 investment a year ago.
To me, that's a pretty good fucking investment but I know wtf I'm doing and crunch numbers daily.
I will do that deal any day and twice on Sunday.
Ripple (XRP) is not mine-able. Hmm, NXT to. Nobody getting burned over there 
Well, if you don't want folks to fall for this 'bad' investment and sully the coin and possibly ruin their lives and time and frustrations.
Then you agree the mining reward should be abolished. Fix the problem.
Then you agree the mining reward should be abolished. Fix the problem.
Then lets get rid of those pesky transaction fees too. That's stealing.
Nobody should need to actually work for what they receive. All means of earning should be abolished for the good of mankind.
Edit: on a more serious note, if you abolish the reward you abolish coin generation and abolish the coin altogether.
So what you really want is to abolish Bitcoin.
I am sure it will survive.
And if a fork is needed to fix the difficulty due to so many farms shutting down, then that is all that might need to happen.
If people want this to survive, they will mine, just, it wont be for the mining incentive. And nobody will get scammed by these companies either.
So, it is better for everyone.
Well, if you don't want folks to fall for this 'bad' investment and sully the coin and possibly ruin their lives and time and frustrations.
Then you agree the mining reward should be abolished. Fix the problem.
Then you agree the mining reward should be abolished. Fix the problem.
Then lets get rid of those pesky transaction fees too. That's stealing.
Nobody should need to actually work for what they receive. All means of earning should be abolished for the good of mankind.
Edit: on a more serious note, if you abolish the reward you abolish coin generation and abolish the coin altogether.
So what you really want is to abolish Bitcoin.
mining is/should be voluntary, no mining reward means no corporate scams (bfl, knc). 
full pre-mine and sell off the main web-site (based on the price at an exchange or an average).
Then with that you can expect the network hashrate to plummet, affecting the robustness of the network, longer confirmation times, and the crippling of the coin in the end. How about you create your own coin with your own philosophy and see how it does? full pre-mine and sell off the main web-site (based on the price at an exchange or an average).
Good luck!
mining is/should be voluntary, no mining reward means no corporate scams (bfl, knc).
full pre-mine and sell off the main web-site (based on the price at an exchange or an average).
full pre-mine and sell off the main web-site (based on the price at an exchange or an average).
Obesity is bad. We should ban spoons.
^your logic.
^your logic.
Sure it is. They could get a loan then?
10k for something that only 5 months ago looked worth it.
Yea, they twist it and use is, its a scam.
The mining incentive allows companies to do this...
So: The mining incentive needs to be removed.
10k for something that only 5 months ago looked worth it.
Yea, they twist it and use is, its a scam.
The mining incentive allows companies to do this...
So: The mining incentive needs to be removed.
Manufactures selling pre-orders and not delivering as promised are scams. Mining reward is not a scam.
I'll just re-post this so that others do not have to scroll to the beginning.
Perhaps someone can contribute something. Some have expressed concern that the coin would not
survive without the mining incentive. I think, if the world wants bitcoin, then it will survive by means that do
not cause companies like BFL or KNCMiner to rip off its customers. I'm sure it will survive.
Please proceed:
The mining incentive is a scam.
Everyone who supports a coin with a mining incentive is a criminal.
Mining incentive needs to be removed from all coins.
The mining incentive is a scam.
http://www.vnbitcoin.org/litecoincalculator
No incentive, no war, probably only exchanges would ever buy hardware.
I will re-post this recommendation, you can be sure of that. In the mean time.
Join the class-action.
Perhaps someone can contribute something. Some have expressed concern that the coin would not
survive without the mining incentive. I think, if the world wants bitcoin, then it will survive by means that do
not cause companies like BFL or KNCMiner to rip off its customers. I'm sure it will survive.
Please proceed:
The mining incentive is a scam.
Everyone who supports a coin with a mining incentive is a criminal.
Mining incentive needs to be removed from all coins.
The mining incentive is a scam.
http://www.vnbitcoin.org/litecoincalculator
No incentive, no war, probably only exchanges would ever buy hardware.
I will re-post this recommendation, you can be sure of that. In the mean time.
Join the class-action.
Hi Guys
But, what about the idea.
Just shut up already But, what about the idea.
Hi Guys
But, what about the idea.
But, what about the idea.
He's been spamming #kncminer for a few weeks now...
Also, no sign he is mining Bitcoins, so this is totally off-topic here
Also, no sign he is mining Bitcoins, so this is totally off-topic here
It's obvious to me that the OP is...
A) feebleminded
B) trolling
C) extremely intoxicated
D) all of the above
A) feebleminded
B) trolling
C) extremely intoxicated
D) all of the above
Refund your customers Sam.
Do it, or be faced with the difficult decision, of exactly how to liquidate your company to me.
Do it, or be faced with the difficult decision, of exactly how to liquidate your company to me.
What are you talking about? I don't have customers. I don't charge for my opinion, not that anyone would pay for it.
Refund your customers Sam.
Do it, or be faced with the difficult decision, of exactly how to liquidate your company to me.
Do it, or be faced with the difficult decision, of exactly how to liquidate your company to me.
After (some) research, MANY believe the mining incentive can be a nice business to get into.
Instead MANY are being scammed by these hardware manufactures.
Instead MANY are being scammed by these hardware manufactures.
It does seem to be or at least has been a nice business to have been in. Whats wrong with that?
Many are buying or have bought hardware of their own free will. That does not constitute a scam?
Sure, Titan batch1 not delivered yet. Folks paid 10k for it and look now: http://www.vnbitcoin.org/litecoincalculator
Pay close attention to the 'days to break even', then try to tell me the company did not know about this.
Then try to tell me where on kncminer page you see the company explaining that it is not an investment, in a way
that everyone can understand, are they trying to really tell the customer that this is a bad idea if you intend
to obtain an ROI (return on the investment), i think not.
Anyway, I did say discuss among yourselves...
Now we have: http://kncclassaction.com/
Only problems.
I highly recommend the mining reward be removed from all coins.
Thank You,
Cryptocurrency Processing.
After (some) research, MANY believe the mining incentive can be a nice business to get into.
Instead MANY are being scammed by these hardware manufactures.
Instead MANY are being scammed by these hardware manufactures.
It does seem to be or at least has been a nice business to have been in. Whats wrong with that?
Many are buying or have bought hardware of their own free will. That does not constitute a scam?
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