Search content
Sort by
Showing 20 of 56 results by Pepin
I can't believe how many absolutely idiotic stupid morons are out there who keep believing in these mining shares. For starters, the math proves that you will never get your investment paid back, let alone any interest on that investment. Second of all, all of these operations would be stupid to actually mine bitcoin since it is so troublesome. They can make money by just taking your money and slowly giving you back little by little but never giving it all back. Why would they run a gigantic bitcoin farm when they can simply run a single server and not have any headaches? Also have any of these cloud mining companies actually shown any evidence that they actually mine bitcoin? I don't think so. All you ever hear from them is "trust us, we do!" What a load of BS. Some of these operations, if they truly mine bitcoin, would have gigantic mining farms, so why can't they give us any shred of evidence that it exists? There is not even any circumstantial evidence of their existence for most of the cloud mining companies.
Lastly, even if these companies were completely honorable and actually mining like they claim to, how freaking stupid do you have to be to buy into something that you will never profit from? The only people who make any sort of profit from cloud mining are the cloud mining companies running the ponzi scheme and some people who trade fake mining contracts with gullible fools.
Lastly, even if these companies were completely honorable and actually mining like they claim to, how freaking stupid do you have to be to buy into something that you will never profit from? The only people who make any sort of profit from cloud mining are the cloud mining companies running the ponzi scheme and some people who trade fake mining contracts with gullible fools.
It has so far been very reliable. It pays out just as it is supposed to. However, you are going to lose money. The way the math works out, it is in their best interest to not mine anything and just very slowly pay you back your "investment" while not ever quite reaching it. They have provided zero evidence of actual bitcoin mining. In effect, you are giving them an interest free loan that will never have to be paid back to you in full.
I am in Shanghai, China, and my electric bill says that it is $.10 US per kilowatt hour during the day and $.05 US per kilowatt hour during the night. It doesn't say what hours are considered night time or day time, but from the amount of electricity used, I am guessing that the night time rate is for between 7-8 hours per day.
Rather than do cloud mining, might have better return sending the miners to a third-world country where stealing gigawatts of electricity is as easy as bribing the meter reader guy $30 a month...
yes, because instead of investing thousands of dollars and trusting KNC, who might be crooks, I am better off sending thousands of dollars of equipment to a third world country and trusting someone who is a crook and willing to steal electricity for me.
Here is the difference: KNC is scamming you, but your business partner in the third world country might be scamming you.
The simple math behind it doesn't make sense. The company running the cloud mining actually has incentive to not mine. They make more money by not engaging in mining activities and by just paying you back with the bitcoin you gave them. It is very hard for these companies to lose, and very hard for you to win.
http://www.vox.com/2014/10/31/7137041/japan-monetary-policy
I still can't believe that people think it is a good idea for the government to print money to boost the economy. I just can't wrap my head around on how people can think it can have any sort of long-term benefit. Even the short term benefits always end up falling far short, with a few profiting greatly while most people end up getting screwed. Sometimes when I have doubts about the future of Bitcoin or crypto-currency in general, reading some crap like this really reminds me of the importance of a currency that is beyond the ability of governments or individuals to manipulate.
I still can't believe that people think it is a good idea for the government to print money to boost the economy. I just can't wrap my head around on how people can think it can have any sort of long-term benefit. Even the short term benefits always end up falling far short, with a few profiting greatly while most people end up getting screwed. Sometimes when I have doubts about the future of Bitcoin or crypto-currency in general, reading some crap like this really reminds me of the importance of a currency that is beyond the ability of governments or individuals to manipulate.
Although I am not currently in China, I live there. Some things that are blocked on my mobile internet connection through China Unicom are available on my home internet connection through China Telecom, and vice-versa. I am pretty sure that telecom companies play a large part in "self-policing" internet access, so sometimes there are differences.
Here is what I do. For cold storage it is really simple. I keep copies of the public and private keys and send coins to the public address. I don't need to worry about any software until it is time to spend the coins, which I have never done to date.
I read a lot of people on here complaining about how there is all this good news coming from Bitcoin but they don't understand why the fiat exchange rate remains rather stagnant. How can the market be bullish if the price doesn't increase? It is simple. There are 144 blocks found each day, each containing 22 newly mined Bitcoins. Regardless of whether the miners sell or hold their coins, the market capitalization of Bitcoin is increasing by about 2,000,000 USD per day. So don't worry about Bitcoin being stagnant, because it isn't. Stagnant would be coins continuously being added and the price of Bitcoin going down by an equal percentage.
Re: BRICS establish $100bn bank, currency pool to cut out Western dominance
Then you are asleep my friend, because with their growing economies and huge populations they are going to blow by the US and Europe very soon.
Not true at all. GDP per capita is pitifully low, economic growth is based on unsustainable development and foreign investment, and the governance is anathemic to a vibrant market economy.
Exactly. The US is 4% of the world's population and that figure is rapidly shrinking. China's middle class is now much larger than the entire US population. Meanwhile, our middle class is dwindling.
What is considered "middle class" in the People's Republic is considered living in poverty and squalor in the United States. The actual number of people in China who live a middle class lifestyle based on European or North American standards is a small percentage of the population.
They're really going after the dollar. I think that's a good thing. This one-currency domination thing is not good for the world's economy.
They are not "going after the dollar." If they did, they would lose their tight grips on their own currencies. In the meantime, they keep buying US Treasury bonds.
Re: 2007-10-3 4-Star General Wesley Clark: The US will attack 7 countries in 5 years
Didn't you guys watch the new Robocop movie? It shows how the US will pacify Iran with their army of robots.
"Advanced ICBM's?" How about no ICBM's.
The problem with Iran is that unlike Iraq, that nation possesses advanced ICBMs and other weapons. And with Armed Forces currently numbering in their millions, an invasion of Iran could become the costliest ever war waged by the Americans.
"Advanced ICBM's?" How about no ICBM's.
Seems like the conviction in japan isn't affecting kidnappings more than the one is Austria for example...
The definition of kidnapping differs a lot in Japan. If an estranged spouse takes away the kid to his native village, without the permission of the other one, then it is considered as kidnap in Japan.
? Isn't that considered kidnapping everywhere?
In my opinion, the decline in the inner city population might have contributed a lot. There is significant migration of people from the crime-affected inner city areas to the more affluent suburbs. The suburbs mostly comprises of gated communities and well maintained residential associations, where the street gangs don't have much power.
What country are you from? That doesn't sound at all like the US I know.
Re: China: Detention of human rights defenders following commemoration of 1989 Tiana
they want to be the next united states of america, albeit without free speech.
It is surprising that you still think free speech exists in the United States. In my opinion, there is no such thing there, at least for the past 25 years. Everything is just a mirage.
shut up and move your ass to china or russia
Agreed. The poor folks in the first picture are probably getting the shit beat out of them as we speak.
Re: How Do I Tell My Daughter That People Across Europe Fear Minorities Like Us?
Europeans mixed with Neanderthals. Every European has between 3 and 5% of Neanderthal genes. Yes, Europeans are a very superior and pure race.
Well, Neanderthals DID have bigger brains and more muscle...
Re: Bitcoin's biggest systematic/systemic risk: Satoshi's stash
Maybe satoshi did die? His wallet hasnt moved for years....
It's believed that those private keys were lost.
I feel like the person or group who spent years working on Bitcoin wouldn't be as stupid as to lose all copies of a short string of numbers and letters.