Quote from: fnord123 on May 31, 2011, 02:44:25 AM

Quote from: Strom on May 30, 2011, 11:58:51 PM

It would be in a miner's best interest to deny profitability because any additional computing power added to the network decreases the bitcoin income of the existing miner.

If miners were perfectly rational and willing to lie, then yes, it would be in their best interest to deny profitability.

However, most people posting here like to think that they are honest people. As such, they express their "true" opinion, and not lies. And most people who mine do so because they think it is profitable - just like most people who flipped houses in 2006 did so because they thought it was going to continue to be profitable - even when data was staring them straight in the face that houses were getting too expensive. People will go to extraordinary lengths to continue to believe easy money will keep coming.

I've spent a lot of time reading this forum over the last few days and I don't agree with your statement.

Quote from: fnord123 on May 31, 2011, 02:44:25 AM

However, most people posting here like to think that they are honest people. As such, they express their "true" opinion, and not lies.

I have found so much negativity, conflicting points of data, defeatism and what seems to be disinformation. Sr. members and experienced miners contradicting their data points and profatibility estimates....oi!!! What's a newb to do?

I for one will be getting a rig and will ignore the naysayers. If I lose money I'll have some sweet gaming stations. Being a gamer I don't care. Also, being an investor I'm prepared to lose money.

But for the other newbs, if I had listened to everyone who had opinions before I made certain investments 3 years ago, I would have been out on 10's of K's of $. You have to DO something for yourself to figure out if it's going to work or not.

I'm not questioning the moral integrity of the majority of members of the board, but logic would dictate that when two or more (1?) people get together you immediately have conflicting agendas and emotion will cause logic to stray. One of the first rules of being a scientist, never trust your own data. Test, test, test.