GarbageName, so we just have to admit that there are large quantities of grown(?) men with large sums on their hands, eager to spend it on something that will surely return negative profit? And they cheering each other while they doing it? I'm kinda surprised, really
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BoardBeginners & Help
Re: I DONT GET IT!!!
by
myxomop
on 21/12/2013, 05:00:55 UTC
But don't you have to spend almost 8 bitcoins now to get this miner. So if sometimes in the future one bitcon that you're able to mine, cost £20,000, that means that you LOST 7*20,000=£140,000? Correct me if i'm wrong please.
Its called speculation (or gambling). It is an addiction. We have banks, and markets set up to legalized gambling, with no underlying value. Welcome to the human race.
See the tulip bubble, housing bubble, etc...the asset can never go down! Until it does...
--GarbageName
Right. Still though, can anyone chime in with some calculations? If this miner will never mine as many bitcoins as were spent to buy this thing, what dies it matter if bitcon will jump to 10K per unit? You still lost bitcoins in the end?? There's gotta be a catch here.
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BoardBeginners & Help
Topic OP
I DONT GET IT!!!
by
myxomop
on 21/12/2013, 04:16:47 UTC
Ok somebody help me out on this. I see ASICs listed everywhere, prices are absolutely ridiculous. Any BTC calculator shows that they will never ROI. And the explanation that I keep finding is that if BTC price keeps rising, it will all be worth it. Here's a pretty active thread: https://bitcointalk.org/index.php?topic=370260.0
People can't wait to buy this 200Gh/s miner for £2,800.