Quote from: Hook^ on June 19, 2011, 02:13:46 AM

Quote from: KedP on June 19, 2011, 01:29:14 AM

Quote from: AngelusWebDesign on June 18, 2011, 10:02:44 PM

Oh, and I think you must be pretty dense to not realize that EVERYONE KNOWS THAT IT'S IN MINERS' BEST INTEREST TO DISCOURAGE OTHERS. It's not like you're letting the cat out of the bag or anything.

"Oh no, the jig is up!" ...Not hardly.

Everyone knows that anything negative spouted on this forum about mining is partly to defend our own future profitability. You think some people don't know that?

A reader needs to take everything on its own merit -- either it's true or it isn't. And yes, a person should read the pros AND THE CONS of something like bitcoin mining before jumping in head-first. It's called getting a balanced view.

You think all the stuff I pointed out is just so much BS calculated to scare you away from mining? Go ahead and believe that at your own peril. I didn't post *anything* that isn't 100% true. Heck, half the time I post mathematical figures, which don't lie.

Mining is betting that the bitcoin price will stay above a certain threshold. Buying coins is betting that the bitcoin price will go up.

Also, I just generally am pissed off by all you douche bags with your fear mongering and discouragement. I don't like you lying assholes on a personal level - the way you say one thing and do something else.

It is also betting that difficulty increases don't grow fast enough to destroy your profits. Right now the difficulty doubles every 18 days, so your output halves every 18 days. That is a big problem

The threshold I mentioned contains the difficulty information. But really the difficulty doesn't matter. All that matters is the price. If the difficulty mattered, then people would have stopped mining at 250k. Bitcoins were actually MORE profitable when the difficulty rose to 450k and then 550k, and LESS profitable at 250k. Why? Because all that matters is the price.