Quote from: helon33 on June 23, 2014, 09:50:45 PM

Quote from: Ashitank on June 23, 2014, 09:09:14 PM

Looks like price is going to stabilize in 0.04 to 0.05 range as lots of people picked-up shares at these prices. People hurt from previous panic sell are trying to get out but now is not the right time any more , not till next Friday divs at least.

Wrong. The price is going to drop below 0.02. The new DataTank technology is going to render PETA and many other mining operations unprofitable. Everybody is trying to get rid of PETA shares in order to get out and save some bitcoins for investing in DTMA when it is going to be availiable in a few days.

Actually you are WRONG as well. Bitcoin miners will themselves render Bitcoin mining unprofitable or just marginally profitable. Last December PETA was looked at the same way. The mine was to start in mid-January and everyone should have had their shares paid for in full just by dividends alone at this point. I am happy with the performance of the mine and I think Cryptx is doing an excellent job given that manufacturing delays are out of his control.

It will be the same with every mining technology that is the next greatest thing to come out. There are many problems that can occur with immersive cooling in addition to manufactures delays for the chips themselves. Hash power will continue to go up. DTMA has a timeframe of 3 to 6 months to get started. I would rather have 3 to 6 months of dividends from PETA, a currently proven successful mine, than a 3 to 6 month wait on something unproven.

Bitcoin mining has become like a dog chasing its tail. You can bet that as long as there are large margins that more miners will start up until the margins are gone. BTC mining as a whole currently sucks back 120 Megawatts of power. If the rates of increase continue by the time of next block reward halving it will consume the output of a Nuclear plant. In four years it would grow at a rate that would require a Nuclear plant to be built every month; just to supply power for BTC mining. Areas with cheap power will attract huge mining farms, until those very BTC farms begin causing shortages in those areas and the government begins enacting legislation to stop such activities or at least tax them for being wasteful.

I will probably pick up a few shares of DTMA myself, but I do not blindly believe it will be the end-point in mining.