Quote:
Originally Posted by MediaArtist
Why are you being dishonest? Mining isn't guaranteed. It's all a game of chance. My $5,000 actually buys me $5,000 worth of Google as a company. Your $5,000 buys you a glorified high powered PC that you could have probably built yourself for half the price for the CHANCE of possibly solving the BitCoin problems which MAY give you a coin, or you could get 75% of your potential mining yield, or maybe 50%, maybe less. Mining is still based on chance and percentages.
Also another thing you failed to bring up.
How much will that hardware be worth when BitCoin transactions drop another 70% like they have since November? What happens when transactions go below 10,000, or go to 5,000?
What is the likelihood of that vs the likelihood that Google will suddenly implode as a business?
I would rather carry $5,000 of a company that is literally approaching a monopoly in the information world than some over priced hardware that has a "chance" of mining a BitCoin which has rapidly depreciating value.
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I'm not being dishonest, if I was, I would not have invested my own money in this
I actually understand the bitcoin concept, I am not sure you do
Mining profit can be calculated with great certainty.
It's dependant on current difficulty level, and your hashing power.
You can actually predict your return with a lot more certainty than stocks.
The numbers I stated wove was not a guess
Had you really invested in bitcoin hardware you would have made more money than google stock.
This is not forecasting, I'm going on actual pricing for the past 30 days
First of all the high powered PC you refer to is a custom built computing device designed to do one thing, but it does that thing exceptionally well.
It's not the same as a highly speced PC. And in that one task, would run circles around the highest spec server available on the market.
I know because I have tried running this software on a server, and it sucked.
When you start mining as part of a pool of miners
Basically a large amount of machines, you get small portions of finding bitcoins
So if 10 machines find a bitcoin, you would split it 10 ways etc
So the faster your machine, the larger portion you get.
Besides the hardware is not overpriced
How can you say it's overpriced, what are you comparing it too?
A PC?
An ipad?
It's nothing like either machine.
Lets make this fun
I just bought 2 hardware miners for $4131
If you want, buy google stock for that amount
And let's talk after about 2 months
And see how much the $4131 is worth?
If you are so sure your google stock is a better investment, then this should be an easy win for you
If I turn out to be right, then you see the light
Think of this exactly like gold mining
Could they tell with certainty that they would find gold?
Could they predict how much money they would make?
No
But for those that made it, they made it big