Quote from: balanghai on November 02, 2013, 02:10:59 AM

Quote from: turbobitcoin on November 02, 2013, 01:47:44 AM

Quote from: papaminer on November 02, 2013, 01:10:55 AM

so what are you trying to say?

you want us to buy your turbobit miner?

Cheesy

I'm not saying to buy my bitcoin mining plans. Statistically speaking, many rival companies will have a much higher loss than my plans. My plans will not break even just like other miner plans, if not all other plans.

As I said before, these companies are not transparent on the fact you will not profit. I acknowledge myself you will not profit from my mining plans either.

I just don't want people's lives ruined. I will say I got threatened and harassed by a company who promised to double my money. It's part of learning, but I don't believe everyone should learn the same way.

There is a chance you could profit, but it's like finding your needle in a pile of billions of other identical needles.

Best way I can put this:
If your looking for steady income, do not buy Bitcoin Mining Contracts or BitCoin Hardware.

My advice is get out CEX.io if you are not looking to get some bitcoins, but looking for profit. Sell your GH/s while it's worth something, maybe not your original purchase price, but at least something.
The price of GH/s per Bitcoin will drop, as it logically should due to new technology emerging. Just get out if you can't lose that money. Especially, if that money was supposed to be a investment for your family, particularly the kids.

I bid to disagree. You sound absolute when you said "you will not profit".

In some areas yes but NOT all. You can gain profit by trading and not just mining it. We all know that mining is a bit complex at this rate. But if you know how to trade, just with the commodity and same applies with some alt exchange, you can profit.

You could profit. "There is a chance you could profit". When I say "you will not profit", it is my opinion. I nowhere intended it as fact, but rather "more than likely". In all honesty, I never meant to say a straight flat out no, but the data I looked over, clearly shows mining contracts will not purely give you profit. Nor, would buying the newest,fastest, and cheapest mining hardware soon to be available, as for my example, the new coin terra machines. Yes, you could trade...... but because of the cost of mining, it would take a huge amount of time before you profit from a "mining contract or buying the hardware to mine yourself", assuming nothing bad happens to the market.

Trading is risky and there are some companies who scam. In some cases some companies pretend to look good at first in order to attract a crowd, after then run and don't pay out. This is where I got sucker punched myself when trading currencies (not Bitcoin). I requested a payout, the company refused, I posted a review and was threatened/harassed. They told me they would sue me for Public Relations being tainted and other law cost. Guess what? I had to spend extra money to hire a lawyer just to confirm that they would not be able to sue me. It was probably my fault, as that company was not regulated. Not only did I lose my initial investment, but I had to spend more cash to solve a problem that came about, because I was trading with a unregulated company. The same problem could arise here as no one here is regulated to exchange currency

The problem with treating it as a currency lies with how much is the bitcoin actually worth and who determines it. As we know machines in farming tend to break the same times of the year around when it's cold and has to work harder. Therefore, this issue will have a effect on the worth of currency. At this time, it would be hard to pinpoint when to trade with bitcoin having huge fluxes. In theory it should keep increasing its value as more miners come into play, but then again a crash can happen at any time. Just like profit is a possibility, even though unlikely, Bitcoin could become worth $0.00. It may not happen in a day, but it is possible, maybe due to strict regulations by countries, bitcoin being hacked, or whatever other possible reason. When Dwolla claimed they were dropping virtual currencies due to uncertainty in the area, that was probably a lie. As there are rumors that they were ordered to by the government. This was regulation, and this does affect Bitcoin.