Topic: TO NEW MINERS: trust your feelings... - page 4. (Read 9264 times)
Yeah, don't push the difficulty up I want more coins.
I see there has been a huge influx of new miners as of late, and with the recent spike in the exchange rate, it's understandable.
Lately I've been giving this a whole lot of thought, and all my gut instinct tells me that the true price of BTC for a long haul is not the astronomic $100/BTC or higher that the bigbit miners are all hoping for, but about $10/BTC.
I just urge these new guys, specifically the ones that have recently ordered $500-1000+ and ESPECIALLY $1000+ of new equipment with no prior bitcoin experience, to really just take a look at the charts and reflect on everything and trust your feelings. Listening to the big miner's estimations based on hope is not smart.
Revisit your calculations. You might be thinking "It's no problem, at the worst, I break even and get the hardware for free within X days." You need to run your calculations for the next 3 months assuming MINIMUM +90% difficulty per increase, and a $10 BTC price.
Otherwise, you're likely to be in for a rude awakening.
Just look at the charts again. Natural markets don't behave this way, trust your gut. Don't get burned.
I cancelled my 4x 6990 rig, cause it would be foolish. You young guys who are taking risks, please do the same. My buddy is likely going to lose his girlfriend over BTC mining after blowing their whole savings chasing BTC rainbows...
Lately I've been giving this a whole lot of thought, and all my gut instinct tells me that the true price of BTC for a long haul is not the astronomic $100/BTC or higher that the bigbit miners are all hoping for, but about $10/BTC.
I just urge these new guys, specifically the ones that have recently ordered $500-1000+ and ESPECIALLY $1000+ of new equipment with no prior bitcoin experience, to really just take a look at the charts and reflect on everything and trust your feelings. Listening to the big miner's estimations based on hope is not smart.
Revisit your calculations. You might be thinking "It's no problem, at the worst, I break even and get the hardware for free within X days." You need to run your calculations for the next 3 months assuming MINIMUM +90% difficulty per increase, and a $10 BTC price.
Otherwise, you're likely to be in for a rude awakening.
Just look at the charts again. Natural markets don't behave this way, trust your gut. Don't get burned.
I cancelled my 4x 6990 rig, cause it would be foolish. You young guys who are taking risks, please do the same. My buddy is likely going to lose his girlfriend over BTC mining after blowing their whole savings chasing BTC rainbows...
So.... don't go by what the miners say...but go by your 'gut instinct.' Got it!
I see there has been a huge influx of new miners as of late, and with the recent spike in the exchange rate, it's understandable.
Lately I've been giving this a whole lot of thought, and all my gut instinct tells me that the true price of BTC for a long haul is not the astronomic $100/BTC or higher that the bigbit miners are all hoping for, but about $10/BTC.
I just urge these new guys, specifically the ones that have recently ordered $500-1000+ and ESPECIALLY $1000+ of new equipment with no prior bitcoin experience, to really just take a look at the charts and reflect on everything and trust your feelings. Listening to the big miner's estimations based on hope is not smart.
Revisit your calculations. You might be thinking "It's no problem, at the worst, I break even and get the hardware for free within X days." You need to run your calculations for the next 3 months assuming MINIMUM +90% difficulty per increase, and a $10 BTC price.
Otherwise, you're likely to be in for a rude awakening.
Just look at the charts again. Natural markets don't behave this way, trust your gut. Don't get burned.
I cancelled my 4x 6990 rig, cause it would be foolish. You young guys who are taking risks, please do the same. My buddy is likely going to lose his girlfriend over BTC mining after blowing their whole savings chasing BTC rainbows...
Lately I've been giving this a whole lot of thought, and all my gut instinct tells me that the true price of BTC for a long haul is not the astronomic $100/BTC or higher that the bigbit miners are all hoping for, but about $10/BTC.
I just urge these new guys, specifically the ones that have recently ordered $500-1000+ and ESPECIALLY $1000+ of new equipment with no prior bitcoin experience, to really just take a look at the charts and reflect on everything and trust your feelings. Listening to the big miner's estimations based on hope is not smart.
Revisit your calculations. You might be thinking "It's no problem, at the worst, I break even and get the hardware for free within X days." You need to run your calculations for the next 3 months assuming MINIMUM +90% difficulty per increase, and a $10 BTC price.
Otherwise, you're likely to be in for a rude awakening.
Just look at the charts again. Natural markets don't behave this way, trust your gut. Don't get burned.
I cancelled my 4x 6990 rig, cause it would be foolish. You young guys who are taking risks, please do the same. My buddy is likely going to lose his girlfriend over BTC mining after blowing their whole savings chasing BTC rainbows...
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