Quote from: aneutronic on January 25, 2014, 03:06:09 PM

Quote from: itod on January 25, 2014, 01:49:41 AM

Quote from: jspielberg on January 25, 2014, 01:14:13 AM

Seems like it would be more efficient to just buy Bitcoin than rent an asic farm.

Always was (since Avalon batch #1), always will be.

^THIS

we will never be able to compete with this trend:

http://www.coindesk.com/coinseed-5m-investment-bitfury-mining/

Seriously! Miners won't be able to compete with a snake oil investment salesman?

Quote

Mining is a cool thing, its a fun thing, but its not forever, difficulty is on the rise. Mining will always happen, its just not going to be as profitable.

It's doesn't matter if one person purchases $5M worth of outdated miners or 100 people purchase same, there's no ROI. Miners know it. Miner makers know it. The snake oil investment salesmen know it. The only people who don't know it are those having more money than brains that jacked off all over themselves when they read an article or two about Bitcoin. Moreover, it's the people who don't know about Bitcoin that have collectively invested their hard-earned money into entities that are seeking investment opportunities like Bitcoin, and the snake oil investment salesmen are more than happy to oblige.

Pete Bartutti would be gobstrucked if he overheard "The New Liars Club" panelist pitch the mining-for-profit version of his "Cordeen School" routine for, at the end of the day, the investor-chain lose.