TO NEW MINERS: trust your feelings...

bcpokey

hero member

Activity: 602

Merit: 500

Quote from: Jack of Diamonds on June 12, 2011, 05:07:45 PM

Quote from: jwzguy on June 12, 2011, 05:02:15 PM

None of those things were done based on intuition. All required rational thoughts and motives.

All of those carried major, unpredictable risks though (and spaceflights suffered massive losses in the first 40 years of operating including deaths).

In the end everything in the real world is a leap of faith. Pure mathematics and theory only works in simulations.

I'm not saying to 'trust your guts' and abandon due diligence.
I'm saying everything in the world is volatile, unstable, and ultimately unpredictable in the long term.

LOL, yeah flying into space was really a rational motive. What exactly did we gain from going to the moon again? Some cool rocks? Aside from showing the world we were better than those evil ass communists and their little satellite, there was really very little point to our space program. I'm not saying there is no point to space travel, but let's be real, that crap happened cuz we didn't like Karl Marx. (Hating someone is not rational).

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: Capitan on June 12, 2011, 09:41:09 PM

Quote from: tanerlorn on June 12, 2011, 05:46:14 PM

I just spent the last of my USD networth on building a rig, 50/50 split with my dad, after I explained him the concept. I have all of my funds currently in bitcoin, and none in US Bank Notes. I sleep a LOTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT T better at night.

I hope you're joking. Nothing wrong with investing but putting all your eggs into one basket is never a good idea. I guess you might you live with your parents; it wouldn't matter much though then.

He bought 3 5850's with his loot. What do you think he was going to do with that? Earn 8% toward his retirement? I think he's done a good thing in taking the capital and trying to enlarge it. If he loses out, he's young. A long life of work awaits him.

Capitan

member

Activity: 112

Merit: 10

Quote from: tanerlorn on June 12, 2011, 05:46:14 PM

I just spent the last of my USD networth on building a rig, 50/50 split with my dad, after I explained him the concept. I have all of my funds currently in bitcoin, and none in US Bank Notes. I sleep a LOTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT T better at night.

I hope you're joking. Nothing wrong with investing but putting all your eggs into one basket is never a good idea. I guess you might you live with your parents; it wouldn't matter much though then.

tanerlorn

member

Activity: 109

Merit: 10

3 5850s with open case; external fan cooling them all under 60C

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: tanerlorn on June 12, 2011, 05:46:14 PM

I just spent the last of my USD networth on building a rig, 50/50 split with my dad, after I explained him the concept. I have all of my funds currently in bitcoin, and none in US Bank Notes. I sleep a LOTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT T better at night.

Nice. Do well. What's your set up?

tanerlorn

member

Activity: 109

Merit: 10

I just spent the last of my USD networth on building a rig, 50/50 split with my dad, after I explained him the concept. I have all of my funds currently in bitcoin, and none in US Bank Notes. I sleep a LOTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT T better at night.

Jack of Diamonds

sr. member

Activity: 252

Merit: 251

Quote from: jwzguy on June 12, 2011, 05:02:15 PM

None of those things were done based on intuition. All required rational thoughts and motives.

All of those carried major, unpredictable risks though (and spaceflights suffered massive losses in the first 40 years of operating including deaths).

In the end everything in the real world is a leap of faith. Pure mathematics and theory only works in simulations.

I'm not saying to 'trust your guts' and abandon due diligence.
I'm saying everything in the world is volatile, unstable, and ultimately unpredictable in the long term.

jwzguy

hero member

Activity: 868

Merit: 1002

None of those things were done based on intuition. All required rational thoughts and motives.

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: jwzguy on June 12, 2011, 04:03:00 PM

"Trusting your gut" is actually the opposite of what you're recommending. "Trust your rational thought process" would be much better advice.

Make the best prediction you can based on the data you have, calculate risks for all probable eventualities. Act accordingly.

Anything else is foolish.

The world requires foolishness.

Defying the British Empire was foolish.

Flying the first airplane was foolish.

Flying into space was foolish....

Rational thought is very limiting. Without that fire in your belly, intuition, tapping into the infinite creativity of the universe and letting go of logic (which is predicting based on past events), life is not truly lived.

Risk must be taken to evolve. Otherwise you just live in fear and miss out on the birth of spontaneity.

edit: from an American perspective.

jwzguy

hero member

Activity: 868

Merit: 1002

"Trusting your gut" is actually the opposite of what you're recommending. "Trust your rational thought process" would be much better advice.

Make the best prediction you can based on the data you have, calculate risks for all probable eventualities. Act accordingly.

Anything else is foolish.

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: stick_theman on June 12, 2011, 11:53:19 AM

Good topic. Trust your gut is important. Don't stomach more than you can take.

The golden rule still applies.

"If the stock is making you losing sleep at night, sell it!"

I say give more to your stomach than it can take and use your head to compensate. This requires the use of many sticky notes!!!! Tongue

stick_theman

sr. member

Activity: 372

Merit: 250

Good topic. Trust your gut is important. Don't stomach more than you can take.

The golden rule still applies.

"If the stock is making you losing sleep at night, sell it!"

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: Thraex on June 11, 2011, 07:26:14 PM

I'm still going to order an ATI Radeon HD5870 for mining, if the plan to win the money back in xx days/weeks/months fails I'll simply use it for BOINC or F@H or gaming basically.
If it does win the money back I think it would be fair to get another one, but I know my limits. Mining would probably cease to exist for most people if extreme elites competing amongst themselves were to come.

Given how long the possibilities of mining will last, if I were an extreme elite (assuming you meant "rich") I would just buy the bitcoin. I couldn't be bothered with hiring some IT people and overseeing the building of a rig network. Why bother?

chungenhung

legendary

Activity: 1134

Merit: 1005

Quote from: Thraex on June 11, 2011, 07:26:14 PM

I'm still going to order an ATI Radeon HD5870 for mining, if the plan to win the money back in xx days/weeks/months fails I'll simply use it for BOINC or F@H or gaming basically.
If it does win the money back I think it would be fair to get another one, but I know my limits. Mining would probably cease to exist for most people if extreme elites competing amongst themselves were to come.

Thanks man, we need more people doing F@H and BOINC! not just BTC in their head 24/7.
I have been BOINC / F@H for maybe 5 yrs. Every piece of hardware I buy I would have them in mind.
For example, most people go with the cheapest CPU, I actually buy Core i7 CPUs, so I can contribute to F@H while making some $ in bitcoin.
You will feel terrible if you are only into bitcoin for profit, and failed. But you would feel really good when your Core i7 help to find the cure to some disease.

Basiley

newbie

Activity: 42

Merit: 0

Quote from: darkpandora on June 11, 2011, 07:33:45 PM

spent 2300 usd on my mining rig

and i dont regret it.

2x 6990

at least you can play Rage/Doom4/Prey2 on this ;-)
proabably even on two/three screens -)

Oldminer

legendary

Activity: 1022

Merit: 1001

If you can't stand the heat, its time to get out of the kitchen.

darkpandora

member

Activity: 98

Merit: 10

spent 2300 usd on my mining rig

and i dont regret it.

2x 6990

Fakeman

full member

Activity: 154

Merit: 100

Quote from: Synaptic on June 11, 2011, 01:09:17 PM

She's a sweet girl that was sucked into a fools dream, and I hope she bails on him, because I warned him too and he's just dead set on this bullshit.

LOL, didn't you say he was likely to lose his girlfriend at the start of the thread? Sounds more like wishful thinking on your part.

Thraex

newbie

Activity: 8

Merit: 0

I'm still going to order an ATI Radeon HD5870 for mining, if the plan to win the money back in xx days/weeks/months fails I'll simply use it for BOINC or F@H or gaming basically.
If it does win the money back I think it would be fair to get another one, but I know my limits. Mining would probably cease to exist for most people if extreme elites competing amongst themselves were to come.

detroit

member

Activity: 69

Merit: 10

I'm new here, but do you guys do a "Thread of the day"?
Here's my nomination!

Huh

Topic: TO NEW MINERS: trust your feelings... (Read 9264 times)