The Mining Incentive - page 3. | Bitcointalksearch.org

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: bitzcointalk on October 18, 2014, 10:49:13 AM

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.
Please, discus this topic among yourselves.
Remove the mining reward, it is a scam. Roll Eyes

Perhaps instead of simply stating the same thing over and over you might provide some evidence for your argument. Explain why you think the mining reward is a scam.

bitzcointalk

member

Activity: 111

Merit: 10

My avatar is in the shop

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.
Please, discuss this topic among yourselves.
Remove the mining reward, it is a scam. Roll Eyes

os2sam

legendary

Activity: 3583

Merit: 1094

Think for yourself

Quote from: bitzcointalk on October 18, 2014, 10:18:36 AM

I dont have all the answers.

Doesn't seem like you even have a question much less an answer. I'm sorry you don't understand basic precepts of Bitcoin or mining. Please educate yourself or move onto something you do understand. Not trying to be mean just trying to get you to take responsibility for your own decisions and to make them wisely.
Sam

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: bitzcointalk on October 18, 2014, 10:18:36 AM

abolish the mining reward.
pre-mine the rest of them and sell them.
otherwise, the coin is a scam.
i don't care how you solve it.
I dont have all the answers.
just do it. do it now. Roll Eyes

If you abolish the reward for mining coins, how will any more be generated? Pre-mining doesn't solve anything if you're not generating coins by solving blocks. Even if it did, your proposed solution is to put every single coin into the hands of a single mining entity who will then sell them? Yeah, that'll work out really well...

In any case, the generated coins from solving a block are not a scam. That incentive is to bring new coins into the market and also reward miners for securing the blockchain. Eventually those coin rewards will be superseded by transaction fees as the network grows and the coin is adopted more broadly.

How do you think Visa/MC/Amex/etc work? They rely upon transaction fees to support them.

bitzcointalk

member

Activity: 111

Merit: 10

My avatar is in the shop

abolish the mining reward.
pre-mine the rest of them and sell them.
otherwise, the coin is a scam.
i don't care how you solve it.
I dont have all the answers.
just do it. do it now. Roll Eyes

os2sam

legendary

Activity: 3583

Merit: 1094

Think for yourself

Quote from: bitzcointalk on October 18, 2014, 09:30:16 AM

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. Roll Eyes

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.

bitzcointalk

member

Activity: 111

Merit: 10

My avatar is in the shop

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. Roll Eyes

wunkbone

sr. member

Activity: 420

Merit: 250

Mining is a bad investment and not a scam

....

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

There are scams in every unregulated industry. If you are scammed, then sue. QED. Don't blame it on Bitcoin. Like any business, some are good at it and make money while some don't. That's just business. Plenty of miners do make profits of they would be turning off their miners.

/thread

bitzcointalk

member

Activity: 111

Merit: 10

My avatar is in the shop

You got the site wrong...

http://www.vnbitcoin.org/litecoincalculator

And yes, mining incentive is a scam, sorry folks.
Big companies have been selling non ROIable hardware preorders for a long time now.

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: bitzcointalk on October 17, 2014, 04:15:30 PM

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.xxbitcoin.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.

WTF is this garbage?

goozman96

hero member

Activity: 728

Merit: 500

Thank you for your opinion; come again!

Just cuz you missed out on the early mining days doesn't mean you should be calling people criminals.

xwtfbobx

full member

Activity: 168

Merit: 100

/facepalm

bitzcointalk

member

Activity: 111

Merit: 10

My avatar is in the shop

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.

Topic: The Mining Incentive - page 3. (Read 4597 times)