Post
Topic
Board Bitcoin Discussion
Re: Do you think people pulling out of mining is good for Bitcoin?
by
DeathAndTaxes
on 06/08/2013, 07:59:16 UTC
Miners are the working class of Bitcoin. ASIC miners are the greedy 1%.

CPU miners basically said the same thing when GPU mining hit the scene and utterly destroyed what one could do with a CPU.  Not only were they faster but you could stack 3,4,5,6 even 8 GPU into one rig.  Now that is greedy compared to the limited output of a single high cost CPU.

The 1% aren't mining.  To be in the 1% means you are a hundred millionaire if not a billionaire.   

Still buy a low end ASIC, problem solved.  The reality though is most ASIC pre-orderers will likely loose money.  Way too much prebought capacity chasing the same amount of coins.  Not everyone but a lot of them.  If you think it is easy money then buy an ASIC.