Re: Do you think people pulling out of mining is good for Bitcoin?
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.
I hate to ruin your misconception but if you net $31K USD annually, guess what?
http://www.globalrichlist.com/
Congratulations! On a global basis: You're in the 1%!
It's likely 99%+ of the members on this board fit this criteria.
Perhaps you guys meant the 0.01% & the 0.001%. Many live like the two brothers in Trading Places.
