Quote from: xhomerx10 on August 17, 2013, 03:30:35 AM

Quote from: guitarplinker on August 17, 2013, 02:56:18 AM

Quote from: xhomerx10 on August 17, 2013, 02:45:05 AM

Quote from: guitarplinker on August 17, 2013, 01:55:30 AM

Quote from: creativex on August 16, 2013, 10:18:40 PM

Quote from: guitarplinker on August 16, 2013, 05:25:56 PM

The difficulty is killing everyone, including stocks such as bASIC. I read earlier today that any BFL device that arrives later than September 1st will be unprofitable with the current difficulty rising trend.

Unfortunately that isn't just affecting just BFL customers, it affects bASIC and all other securities or similar. I think the way they should be focusing on now, is using sites like Middlecoin, or multipool (when they implement their auto-exchange feature) and using GPU's for mining. I know they're highly in-efficient, but they can generate more profits mining than ASICs can, I never thought I'd say that, but I guess things change, aka the difficulty of bitcoin mining.

Hi guitarplink. I find this line of thinking questionable. Difficulty will go up until mining is no longer profitable for those with inefficient gear and/or high overhead. It cannot go up far beyond this point because many(most) will stop mining which will cause difficulty to fall. While the pre-order madness has created a market distorting force, it will not last forever. If you skim the forums here you will note a growing resistance to the risky pre-order model. bASIC-Mining is well capitalized and IMO well positioned to weather this storm.

We're mining with GPUs now on Middlecoin...they earn next to nothing. They're nowhere near as profitable as ASICs. This will not change in the near future.

Cheers.

Before I continue, I'm not trying to troll or anything, I'm just trying to understand.

If the high difficulty puts other ASIC miners out of the game, what is stopping bASIC mining from losing money by mining as well? Do they operate on very low power costs, or keep mining even when they lose money, or whats up? And when the difficulty becomes too high for ASICs to be profitable, yes people will take them offline. However at the next difficulty change there is a good possibility that the difficulty will make it profitable again, until the next difficulty change, and it will continue like that.

Like, does bASIC have a plan to combat this all?

Hey Guitarplinker,

Creativex has more important things to do than allay your fears. He's not a psychologist, he's an entrepreneur with a plan! Clearly you have not done any research before asking your questions. Read something first so you can ask more informed questions.

Take care

I'd love to do more research, but I cannot find any more information on bASIC mining, do you know of a place I can go to read all about it, it's goals, and how it works?

No you wouldn't. You're line of questioning is based on your misunderstanding of the technology.
bASIC-mining's goal is to produce bitcoins and increase it's production of bitcoins. It works by investing in the latest technology available to mine bitcoins. It also works by having a dedicated, resourceful and genius founder. Please stop wasting his time.

Take care

I'd actually like to invest in bASIC mining, I'd like to do more research on it. I want to understand how it works before I invest.

Thanks for your explanation, but I know I'll have to do my research before buying any shares. Not trying to waste Creativex's time, I'm just trying to understand. That's why I said before anything else "Before I continue, I'm not trying to troll or anything, I'm just trying to understand."