Quote from: fnord123 on May 31, 2011, 07:26:32 PM

Quote from: finnthecelt on May 31, 2011, 06:02:19 PM

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.

Except you won't have sweet gaming stations. 5830, 5850, and 5870 are last gen technology and were not the best technology to boot. Gaming-wise the 69xx series or NVIDIA HW are much better gaming platforms.

Also, putting money in bitcoins (and mining rigs) is not investing, it is speculating. Bitcoins have no real income stream other than people buying them thinking they may be worth more in the future. They don't throw off interest, have no real assets behind them, and are not guaranteed by anything. Putting money in bitcoins or mining HW is nothing like buying stocks, bonds, CDs, etc. - it is strictly a speculation that there is someone else out there who is willing to spend even more money in buying bitcoins than you did.

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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.

When I invested in BTE in 2008 I had no experience drilling for oil (and none since), but I made 10s of Ks of $ selling BTE 1.5 years later. Your statement that one has to DO something to know if it will work is thus proved false. You don't have to do something to figure out if it is a good investment or not. You do research, examine the fundamentals/trends, and put your money in or not.

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One of the first rules of being a scientist, never trust your own data. Test, test, test.

Nonsense - I know lots of scientists, the experiments/tests they run are built on top of on the data and studies of others. Pretty much nobody except pure mathematicians start from nothing and prove/test everything all the way up (and the maths guys just do it to show how cool they are). One can make a decision about bitcoin mining without actually participating in it.

There are lots of contradictions in what people say, but consider this - if you go to a gold investing forum (e.g. Kitco forums), where most people there own gold/are buying gold, do you expect the majority to say gold sucks and is a terrible investment, or to say gold is awesome and well worth buying? Obviously the latter - just like in the Bitcoin mining forum the majority says/thinks Bitcoin mining is a good idea. People talk their wallet, it is human nature.

Totally weak but whatever. I have no response for that trite. You win.