I don't mine BTC, I mine satoshi's.

$5k by march 1st of next year perhaps. lol

Well my .8 ish BTC withdrawal has been pending for over an hour for me now.

It's amazing how many incompetent programmers there are in the world.
I've worked with enough of them.

So turn a virtual currency into a fiat currency?

Ummm. Yeah right. Defeats the purpose.

Probably shouldn't have deigned to even reply to that nonsense.

+1

I've said it to friends, but people need to stop thinking in whole BTC.
A truly catchy name needs to be used for something smaller than a BTC. Like Satoshis but bigger.

Why is this? Pretty simple, $1000 a BTCsounds huge for something you can't hold in your hand. But! If an bit dollar was 0.000001 BTC. You could say right now you can buy a 1000 bitdollars for $1.
Or on Amazon you are looking at an item that is normally $11 it would show 0.011 BTC. The first is easy. the second is unwieldly for most people.  (scientific/mathematical notation is all well and good for some people, but average people will prefer a simpler squeme.

So if the community wants BTCto go to $10k and beyond. The community needs to start using a smaller denominator for wider adoption to really occur.

Just my opinion. Since I think of my mining of BTCas mining satoshis. Since it's satoshis that will be meaningful in 5 years.

I recommend bitminter.com as an easy to use miner and pool to just jump into.

The reason not to mine and spend your money on btc's rather than mining hardware is straightforward. BTC price will in all likely hood only go up from here. With an occasional sell off dropping the price for a few days.
The reason to mine is a philosophical one if your not going to make much doing so. If a single entity gets more then 50% of the hashing power they effectively control the network. So you mining even a tiny bit helps keep that from not happening.

In my opinion. Everyone who owns and uses bitcoins, should have a miner running to support the network.

The problem with block eruptors is that the cheap ones aren't so cheap anymore. I bought 8x 333 MH for between $24 and $33. There was a time they were cheaper. It's taken me a couple weeks to pay off even one of them.
Now they are upwards of $70 or more. Haven't looked in a couple days. I'm contemplating resaling them and just buying btc's. lol

The 2+ GH ones are a little pricy.

Now if you had really wanted a cheapish asic. BFL had a sale on Black Friday, that you could have had one for ?20%? off that was guaranteed to receive by xmas. Their old models. Supposedly they are completely caught up on pre orders at the moment for last years model. I'd be wary buying the 50GH but the 5 GH that you could have briefly got for ~$200 would have been nice. 5 GH seems to be no longer available.

The final thing you need to understand. If all the release schedules come true. At the end of February and into March. The difficulty will go through the roof. So these baby asic's are not going to be good for much.

Reasons to run an asic miner even at a slight loss is a philosophical reason. Due to the nature of the algorithm, someone could take over the network if they get more than 50% of the hashing rate. If they chose. So you buying and running even a cheap asic is your own little contribution to make sure it doesn't happen.

I preordered the Black Arrow Prospero X-1 (100Gh/s) from http://www.minersource.net/mining-hardware/

Regards.

About as simple as it gets.
With those 3 steps on this web page.

https://bitminter.com/


in other words

download a wallet like bitcoin-qt
download a miner like bfgminer
probably choose a pool like bitminter.

Yes

For the price to drop, someone has to buy btc's at a lower price. So yes. The thousands of btc's sold yesterday at low prices were bought by someone.

Keep a buy order that is relatively low, and you might catch some next time.