Quote from: Augusto Croppo on November 03, 2013, 04:13:39 PM

Quote from: FeedbackLoop on November 03, 2013, 03:58:06 PM

So, going back to the context of that reply, you're mining for food/debts?

No... Still anyone alive have to eat. Guess what? They need to pay the food with fiat money, otherwise they will have to depend on people's good will to survive.

What are you mining for?

I'll tell you what I'm not mining for:

I did not pay thousands of dollars to get a magic printing money machine that I'm counting on to pay my bills and to survive (even if I have to admit I did my best to treat it as an investment, reason why I didn't buy BFL early in the year or anything incredibly stupid like that).

And here's what I think the real drive for mining is:

Quote from: FeedbackLoop on November 03, 2013, 03:35:33 PM

Quote from: sharky34 on November 03, 2013, 03:25:10 PM

Sorry, I meant the Sierra (3rd batch) for $6k, but I'm even surprised that the Jupiter (being a very new unit) wouldn't ever give a ROI. So if this is true even you experienced miners are constantly buying new hardware all the time.. your fancy new units at best will be obsolete after a few months? Sorry, I'm just trying to get my mind around this. Even if profit isn't your only concern, this seems like a pretty crazy arms race.

People pay tons of money for backyard greenhouses and perfect soil to grow a few over priced tomatoes. Wouldn't they get more tomatoes for the same money at the store? Even bio-eco-super tomatoes? Sure! It's the same drive for miners.

The only people benefiting monetarily from mining are the ASIC manufacturers and... Bitcoin USERS!