If you are switching to this because mining for Bitcoin is unprofitable, then you are only fooling yourself.
Scenario 1)
- You give $100 to the goat-needing families
Scenario 2)
- You mine 5 BTC for Coinbase, using $100 of electricity.
- Coinbase converts the BTC to USD.
- Coinbase sends $67.50 to the goat-needing families.
And no one sees the problem with this?
Now, if mining is still profitable for you, then all power to ya! Just don't fool yourselves by thinking that this is a good idea if you can't already make money Bitcoin mining.
Also, Coinlab hasn't mentioned if 100% of the proceeds are indeed going to these needy families, or if they are taking a cut for "server" usage or something. Would be nice if they put what percentage that cut is up front.
Scenario 1)
- You give $100 to the goat-needing families
Scenario 2)
- You mine 5 BTC for Coinbase, using $100 of electricity.
- Coinbase converts the BTC to USD.
- Coinbase sends $67.50 to the goat-needing families.
And no one sees the problem with this?
Now, if mining is still profitable for you, then all power to ya! Just don't fool yourselves by thinking that this is a good idea if you can't already make money Bitcoin mining.
Also, Coinlab hasn't mentioned if 100% of the proceeds are indeed going to these needy families, or if they are taking a cut for "server" usage or something. Would be nice if they put what percentage that cut is up front.
Nice PR stunt.
Not trying to talk the effort down or anything, but if you really care for those people, you may wanna think of a way to generate goats once ASICs arrive.
Nice idea anyway!
P.S.: Has anyone told @Goat yet?
Not trying to talk the effort down or anything, but if you really care for those people, you may wanna think of a way to generate goats once ASICs arrive.
Nice idea anyway!
P.S.: Has anyone told @Goat yet?
My two posts to date are not meant to derail this thread or diss the efforts put forward by CoinLabs. I quoted the above because I believe I have another solution regarding goats, but will start another thread to present the idea.
~Bruno K~