The negative impact of mining farms - page 2.

sublime5447

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Activity: 966

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Quote from: brg444 on October 29, 2014, 10:15:54 PM

Quote from: sublime5447 on October 29, 2014, 08:58:44 PM

Quote from: labsbitforum on October 29, 2014, 08:51:10 PM

Quote from: sublime5447 on October 29, 2014, 08:38:26 PM

Have you not figured it out yet bro? That is because they have a financial gain in making suckers believe that. Bitcoin isn't all its cracked up to be. I have traded thousands of coins and spent countless hours studying. Its bullshit. Brg444 is the kinda retard that laps it up. Its not about real change but personal gain.

It is/was about real change but there was too much money in play and it drifted off its intended path. It's still possible that bitcoin could get back on track but its looking more and more likely that it will be superseded by a 2.0 successor.

No bro it was about get rich quick, scarcity model bullshit... same thing that has been fucking over the masses for the last 6k years at least. Not a merit based system.

you are so basic

I unignored you for this! You are a faggot, get lost retard.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: sublime5447 on October 29, 2014, 08:58:44 PM

Quote from: labsbitforum on October 29, 2014, 08:51:10 PM

Quote from: sublime5447 on October 29, 2014, 08:38:26 PM

Have you not figured it out yet bro? That is because they have a financial gain in making suckers believe that. Bitcoin isn't all its cracked up to be. I have traded thousands of coins and spent countless hours studying. Its bullshit. Brg444 is the kinda retard that laps it up. Its not about real change but personal gain.

It is/was about real change but there was too much money in play and it drifted off its intended path. It's still possible that bitcoin could get back on track but its looking more and more likely that it will be superseded by a 2.0 successor.

No bro it was about get rich quick, scarcity model bullshit... same thing that has been fucking over the masses for the last 6k years at least. Not a merit based system.

you are so basic

sublime5447

legendary

Activity: 966

Merit: 1000

Quote from: labsbitforum on October 29, 2014, 08:51:10 PM

Quote from: sublime5447 on October 29, 2014, 08:38:26 PM

Have you not figured it out yet bro? That is because they have a financial gain in making suckers believe that. Bitcoin isn't all its cracked up to be. I have traded thousands of coins and spent countless hours studying. Its bullshit. Brg444 is the kinda retard that laps it up. Its not about real change but personal gain.

It is/was about real change but there was too much money in play and it drifted off its intended path. It's still possible that bitcoin could get back on track but its looking more and more likely that it will be superseded by a 2.0 successor.

No bro it was about get rich quick, scarcity model bullshit... same thing that has been fucking over the masses for the last 6k years at least. Not a merit based system.

labsbitforum

member

Activity: 99

Merit: 10

Quote from: sublime5447 on October 29, 2014, 08:38:26 PM

Have you not figured it out yet bro? That is because they have a financial gain in making suckers believe that. Bitcoin isn't all its cracked up to be. I have traded thousands of coins and spent countless hours studying. Its bullshit. Brg444 is the kinda retard that laps it up. Its not about real change but personal gain.

It is/was about real change but there was too much money in play and it drifted off its intended path. It's still possible that bitcoin could get back on track but its looking more and more likely that it will be superseded by a 2.0 successor.

sublime5447

legendary

Activity: 966

Merit: 1000

Quote from: MrBig on October 29, 2014, 07:24:13 PM

Quote from: jinxx on October 29, 2014, 07:04:00 PM

Quote from: NotLambchop on October 29, 2014, 03:07:56 PM

Quote from: brg444 on October 29, 2014, 02:47:58 PM

...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...

I know that KNC, one of the largest companies out there, is

<== click

A fraction of one of KNC's megafarms.

if they can pump out so much bitcoins, isnt this a monopoly game in mining.. and its 1 sided to people who have those kind of institutional resources.

That's exactly what it is and the main point of this thread. Somehow, that logic seems to elude a plethora of bitsheep and their perpetual bleating of trying to turn any events surrounding BTC into great news.

- mtgox hacked, millions of $ lost: great news
- centralization of mining: great news
- BTC price crash: more cheap coins
- rampant scamming in BTC: it's the victim's fault
- government regulation: to da moon, best news ever
- illicit marketplaces: drug dealers are like robin hoods of crypto

Now I'm not saying that every news regarding btc is bad. It's just that some people here try to twist everything to look favourable for btc when it's obvious that isn't the case.

Have you not figured it out yet bro? That is because they have a financial gain in making suckers believe that. Bitcoin isn't all its cracked up to be. I have traded thousands of coins and spent countless hours studying. Its bullshit. Brg444 is the kinda retard that laps it up. Its not about real change but personal gain.

MrBig

sr. member

Activity: 369

Merit: 250

Quote from: jinxx on October 29, 2014, 07:04:00 PM

Quote from: NotLambchop on October 29, 2014, 03:07:56 PM

Quote from: brg444 on October 29, 2014, 02:47:58 PM

...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...

I know that KNC, one of the largest companies out there, is

<== click

A fraction of one of KNC's megafarms.

if they can pump out so much bitcoins, isnt this a monopoly game in mining.. and its 1 sided to people who have those kind of institutional resources.

That's exactly what it is and the main point of this thread. Somehow, that logic seems to elude a plethora of bitsheep and their perpetual bleating of trying to turn any events surrounding BTC into great news.

- mtgox hacked, millions of $ lost: great news
- centralization of mining: great news
- BTC price crash: more cheap coins
- rampant scamming in BTC: it's the victim's fault
- government regulation: to da moon, best news ever
- illicit marketplaces: drug dealers are like robin hoods of crypto

Now I'm not saying that every news regarding btc is bad. It's just that some people here try to twist everything to look favourable for btc when it's obvious that isn't the case.

jinxx

member

Activity: 83

Merit: 10

Quote from: NotLambchop on October 29, 2014, 03:07:56 PM

Quote from: brg444 on October 29, 2014, 02:47:58 PM

...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...

I know that KNC, one of the largest companies out there, is

<== click

A fraction of one of KNC's megafarms.

if they can pump out so much bitcoins, isnt this a monopoly game in mining.. and its 1 sided to people who have those kind of institutional resources.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: brg444 on October 29, 2014, 06:09:31 PM

Quote from: NotLambchop on October 29, 2014, 03:47:24 PM

Quote from: brg444 on October 29, 2014, 03:28:29 PM

...
Cloud mining contracts also qualifies as "enabling others to compete with them" or at least split the revenue pie.
...

*Your manners aren't improving, faggot.

the logic is : why should they split the pie

the reality is : they do

learn to logic, troll

If you think selling mining contracts = "splitting the pie," you'll be interested to learn that ~99% of those lose coin for the intrepid "investors."

But rubes getting ripped off by mining cos is entirely beside the point--we were talking about the harm to done to Bitcoin's decentralization by megamines.
Surprising foray into stupidity, even for a tactless little faggot like you Angry

jinxx

member

Activity: 83

Merit: 10

do you think miners are backing out, since they spent so much on the mining gear.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: labsbitforum on October 29, 2014, 03:31:21 PM

Quote from: brg444 on October 29, 2014, 02:47:58 PM

You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners. I would say this qualifies as "enabling others to compete with them". They actually offer the service of building data centers and supplying mining equipment for mining operations i.e. other Bitcoin miners.

In fact, every mining companies in the ecosystem probably mine Bitcoins themselves AND sell mining gear. So your point really doesn't make any sense, at all.

So if a mining company makes a rig that is projected to generate $10,000 worth of bitcoin what do you think they will sell it for?

A. $8,000 basically giving someone $2,000 because they just love people and support bitcoin.
B. $10,000 because it allows them to get the $10K right away upfront locking in maximum profit right away. (This leaves the buyer $0 in profit because they paid what it was going to produce)
C. $12,000 Suckers! Person buying looses $2,000 because they were overly optimistic about something.

The answer is C or some form of it. KNC characterized their shift to just mining themselves as more honest.

what has this anything to do with what I said?

Quote from: MrBig on October 29, 2014, 02:29:56 PM

My point is that it doesn't make sense for a company to enable others to compete with them.

this is what I replied to. if mining companies would not want others to compete with them they would not sell mining gear, not offer cloud mining service and simply keep all of that good stuff to themselves.

the reality is...they don't! cause they need other revenue streams so that they don't have to sell their BTC reserve to grow their company.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: NotLambchop on October 29, 2014, 03:47:24 PM

Quote from: brg444 on October 29, 2014, 03:28:29 PM

...
Cloud mining contracts also qualifies as "enabling others to compete with them" or at least split the revenue pie.
...

*Your manners aren't improving, faggot.

the logic is : why should they split the pie

the reality is : they do

learn to logic, troll

MrBig

sr. member

Activity: 369

Merit: 250

Quote from: labsbitforum on October 29, 2014, 03:31:21 PM

Quote from: brg444 on October 29, 2014, 02:47:58 PM

You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners. I would say this qualifies as "enabling others to compete with them". They actually offer the service of building data centers and supplying mining equipment for mining operations i.e. other Bitcoin miners.

In fact, every mining companies in the ecosystem probably mine Bitcoins themselves AND sell mining gear. So your point really doesn't make any sense, at all.

So if a mining company makes a rig that is projected to generate $10,000 worth of bitcoin what do you think they will sell it for?

A. $8,000 basically giving someone $2,000 because they just love people and support bitcoin.
B. $10,000 because it allows them to get the $10K right away upfront locking in maximum profit right away. (This leaves the buyer $0 in profit because they paid what it was going to produce)
C. $12,000 Suckers! Person buying looses $2,000 because they were overly optimistic about something.

The answer is C or some form of it. KNC characterized their shift to just mining themselves as more honest.

unfortunately, most of the naysayers would choose option A, as they believe that mining companies are some of the biggest supporters of BTC.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: brg444 on October 29, 2014, 03:28:29 PM

...
Cloud mining contracts also qualifies as "enabling others to compete with them" or at least split the revenue pie.
...

*Your manners aren't improving, faggot.

labsbitforum

member

Activity: 99

Merit: 10

Quote from: brg444 on October 29, 2014, 02:47:58 PM

You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners. I would say this qualifies as "enabling others to compete with them". They actually offer the service of building data centers and supplying mining equipment for mining operations i.e. other Bitcoin miners.

In fact, every mining companies in the ecosystem probably mine Bitcoins themselves AND sell mining gear. So your point really doesn't make any sense, at all.

So if a mining company makes a rig that is projected to generate $10,000 worth of bitcoin what do you think they will sell it for?

A. $8,000 basically giving someone $2,000 because they just love people and support bitcoin.
B. $10,000 because it allows them to get the $10K right away upfront locking in maximum profit right away. (This leaves the buyer $0 in profit because they paid what it was going to produce)
C. $12,000 Suckers! Person buying looses $2,000 because they were overly optimistic about something.

The answer is C or some form of it. KNC characterized their shift to just mining themselves as more honest.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: NotLambchop on October 29, 2014, 03:07:56 PM

Quote from: brg444 on October 29, 2014, 02:47:58 PM

...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...

I know that KNC, one of the largest companies out there, is

<== click

A fraction of one of KNC's megafarms.

That's cause they moved all the consumer products to cloud mining contracts since only small fries were buying from them and small fries can't break even anymore and so don't buy much gear (especially considering KnC history of shady business in that regard)

Cloud mining contracts also qualifies as "enabling others to compete with them" or at least split the revenue pie.

So I win again, troll.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: brg444 on October 29, 2014, 02:47:58 PM

...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...

I know that KNC, one of the largest companies out there, is

<== click

A fraction of one of KNC's megafarms.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: MrBig on October 29, 2014, 02:29:56 PM

My point is that it doesn't make sense for a company to enable others to compete with them.

The main point that mining is becoming centralized still stands, as evidenced by the link that notlambchop posted.

Quote from: NotLambchop on October 29, 2014, 12:16:24 PM

Quote from: brg444 on October 26, 2014, 10:35:54 PM

...
Remember there is an economic incentive for players not to collude and respect decentralization of the system.
...

>ZEUSMINER EXPANDS PARTNERSHIPS TO INCLUDE ASICMINER, XBTEC AND ROCKMINER

Thanks for bringing this to my attention. This is further proof that mining will be controlled by a handful of big players in the future.

You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners. I would say this qualifies as "enabling others to compete with them". They actually offer the service of building data centers and supplying mining equipment for mining operations i.e. other Bitcoin miners.

In fact, every mining companies in the ecosystem probably mine Bitcoins themselves AND sell mining gear. So your point really doesn't make any sense, at all.

MrBig

sr. member

Activity: 369

Merit: 250

My point is that it doesn't make sense for a company to enable others to compete with them.

The main point that mining is becoming centralized still stands, as evidenced by the link that notlambchop posted.

Quote from: NotLambchop on October 29, 2014, 12:16:24 PM

Quote from: brg444 on October 26, 2014, 10:35:54 PM

...
Remember there is an economic incentive for players not to collude and respect decentralization of the system.
...

>ZEUSMINER EXPANDS PARTNERSHIPS TO INCLUDE ASICMINER, XBTEC AND ROCKMINER

Thanks for bringing this to my attention. This is further proof that mining will be controlled by a handful of big players in the future.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: MrBig on October 29, 2014, 01:49:42 PM

Quote from: brg444 on October 27, 2014, 03:10:03 PM

Quote from: MrBig on October 27, 2014, 01:37:33 PM

I wonder what would happen to the gold mining companies if they tried 'hodling' their gold until it went to the moon...

gold mining companies do not have other revenue stream

Gold mining companies don't sell equipment to their competitors. Why would a giant mining farm sell equipment to users to compete with them and take a cut of their profits? That makes no sense. Until you realize that they sell last-gen hardware to clueless prospectors.

Are you kidding me? What exactly is your point here, you just arguing for the sake of it?

I know they don't sell mining equipment to their competitors, that's why you cannot compare it with Bitcoin mining company who, in a way, do, hence why your original comparison is asinine and holds no ground.

MrBig

sr. member

Activity: 369

Merit: 250

Quote from: brg444 on October 27, 2014, 03:10:03 PM

Quote from: MrBig on October 27, 2014, 01:37:33 PM

I wonder what would happen to the gold mining companies if they tried 'hodling' their gold until it went to the moon...

gold mining companies do not have other revenue stream

Gold mining companies don't sell equipment to their competitors. Why would a giant mining farm sell equipment to users to compete with them and take a cut of their profits? That makes no sense. Until you realize that they sell last-gen hardware to clueless prospectors.

Topic: The negative impact of mining farms - page 2. (Read 10834 times)