ironic that tech enthusiasts can't use the search feature?
yes, perhaps it is.
awwwww little elitist. I even posted in another BTC thread, but it was in the GPU forum. I want to create a thread that will get some responses. Sarcastic and condescending in nature only of course.
I have some litecoins, but I don't have the resources to throw into serious bitcoin mining with ASICs. I don't mind litecoin mining on my home machines now especally since it's getting colder.
I think most of us here view it the same way as investing: it takes a lot of funds to turn a profit, consumes time to stay abreast of developments, and is potentially (or very in the case of altcoins) speculative. Then there's the input cost (name electricity).
I'm especially wary of altcoins right now because they are more susceptible to manipulation than larger, more stable "real" currencies, but they are becoming more stable and balanced as the markets mature and governments and law enforcement start to accommodate them and treat them like hard currency.
Whoever though up of the "mining" metaphor had it exactly right. Just isn't worth it for everyone to enter the game.
Yeah. That's actually where I stand. I had an little ASIC jalapeno for a bit, but I did the calculations and it's just not worth it. You have to setup shop in Africa or the Philippines or something where utilities are cheap.
The altcoins are where the money, and of course, risk is at. TBH though, I don't see these collapsing COMPLETELY anytime soon even IF the US government says they will regulate. It's global P2P. Plus w/ China getting into it big, which I think this latest rally is coming from, you have a multi-national support system even among rival nations.
For those who said you can't mine still are wrong. You can still mine any scrypt coin, but I'd advise against unless you get free/stolen electricity.