¿When mining became pure speculation?

mrb

legendary

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Quote from: aTg on December 23, 2012, 04:21:26 AM

The mining basically exists for the bitcoin may exist, if you want to sell your bitcoins in another currency that is not essential to being a miner ...

Bitcoin in general is a relatively risky / speculative market, even if you don't exchange bitcoins. If Bitcoin loses its value, you won't be able to buy goods/services at the BTC price you think they would be priced at.

aTg

legendary

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Quote from: mrb on December 22, 2012, 05:00:25 PM

Quote from: aTg on December 22, 2012, 10:24:48 AM

Engineering is speculation? Since when?

Can you predict the future BTC exchange rate? No. Therefore mining is speculation.

The mining basically exists for the bitcoin may exist, if you want to sell your bitcoins in another currency that is not essential to being a miner ...

mrb

legendary

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Quote from: aTg on December 22, 2012, 10:24:48 AM

Engineering is speculation? Since when?

Can you predict the future BTC exchange rate? No. Therefore mining is speculation.

aTg

legendary

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Quote from: crazyates on December 21, 2012, 01:29:45 PM

Mining is purely speculation

Engineering is speculation? Since when?

crazyates

legendary

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Quote from: -ck on December 21, 2012, 04:48:19 PM

Quote from: crazyates on December 21, 2012, 01:29:45 PM

the forum can be a helpful place again.

Now you're smoking the ganja.

I may have had a few pints already, and there's more to come in the coming hours.

-ck

legendary

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Ruu \o/

Quote from: crazyates on December 21, 2012, 01:29:45 PM

the forum can be a helpful place again.

Now you're smoking the ganja.

crazyates

legendary

Activity: 952

Merit: 1000

Mining is purely speculation because a lot of stuff are about to happen. Give it a few months when ASICs are shipping from a few vendors, the network and price stabilize, and I ~~expect~~ hope things will go back to normal, and the forum can be a helpful place again.

Graet

vip

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mining has always been speculation
in the early days the speculation was would it ever be worth anything - then someone bought some socks and a pizza
the volatility of the market also, up to $32 back to $3 and now $13ish

yes mining is becoming more "professional" and less hobbyist, but in the real world a lot of successful businesses have started that way Wink

We are still speculating on Bitcoins future value though, no matter our investment into hardware or our status as hobbyist or professional Wink

Raize

donator

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There will still be this stuff in the future. Some people will be doing all sorts of mods and cooling to try to get more out of ASICs, it'll just be to a lesser degree. Additionally, the real discussions might end up switching to which pools can adapt to support new firmwares the quickest, and what mining protocols or modifications to them work the best.

I think Bitcoin mining started getting less about helping each other and more about helping yourself once FPGAs came into play and there weren't endless supplies of relatively cheap video cards anymore. The more up front cost, the more emotion is on the line to get that ROI. Some of us are vested in mining to the tunes of several thousands of dollars, others maybe only hundreds. It's not a game of silly digital currency anymore, and it's quickly becoming "not just a hobby" too.

aTg

legendary

Activity: 1358

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What happened? For people who are dedicated to engineering has gone into the field of speculation?
All antique hardware manufacturers (less ztex) are immersed in a world of speculation, hardware prepayment nonexistent, waiting lists, something like arms races with the specifications of their products, shareholders in mining clusters very opaque.
At that time engineering has given way to ponzi schemes?
How I miss the days when you could talk about mining without entering Taliban style ideological battles.

Topic: ¿When mining became pure speculation? (Read 1235 times)