[Chugalug] Bitcoins: It's all about cash, that is, the real stuff
boodaddy at gmail.com
Wed Sep 4 04:42:58 UTC 2013
Those one armed bandit machines have made myself a shit ton of cash. All
of the intial investement I made several years ago, I have recovered
multiple times over. I have made five figures in the last year alone on
this "scam" as you call it. Since it has been so good to me these past 2
years or more, I have been faithful in investing a small portion of my
profits back to keep up with the difficulty, but thats only been a SMALL
portion of my profits. Again, I have lost aboslutely zero in the past 2
years. I can show a positive and ever steady gain in the high 5 figures.
I have recently invested in the new technology since its increasingly
effecient and I like having little boxes in my closet that poop out money.
Call me a sucker, a fool, and poke fun all you care to. The fact is, I am
substantially more "richer" because of my mining operation. At this point,
$5000 is not serious money to me, its just a business expense like any
other. Especially since it was money earned by bitcoin mining.
I honesly don't see how I am being "suckered" when I have made $250 - $275
since Saturday morning, and I only paid $1350-ish for this little gem.
Even if we examined the time-value of that money invested over the last 14
months, I can't see any better returns on any other investment.
Now, excuse me while I dive into my pool of BTC that is flowing from my
little data closet. :-) (Sorry for the ditribe, but I couldnt resist).
On Wed, Sep 4, 2013 at 12:23 AM, Mike Robinson <miker at sundialservices.com>wrote:
> Now, mining has largely become a matter of getting your hands on the newest
> miners [[ early enough to generate a profit (barring another bubble). ]]
> are [[ very few ]] [[ technical ]] barriers to mining other than cash.
> Right now, that
> requires a minimum $5K [[ investment ]] and [[ may ]] not deliver returns
> [[ any time soon
> (if at all). ]] [[ That is, barring another bubble. ]]
> "There are none so blind as those who will not see."
> YES, "there are NO technical barriers to 'mining.'" Other than the O-N-E
> ... T-H-I-N-G ... that actually matters to the clever mathematicians who
> conceived of it:
> UNITED STATES DOLLARS.
> You're paying $5,000 USD for "a magical money machine," and it's
> S-L-O-W-L-Y dawning on you that the words which I have enclosed in [[
> double brackets ]] can be omitted entirely from these sentences.
> You're being very cleverly suckered. It's as simple as that. And, you're
> pouring serious money ( >= $5000 USD ) into "the same damn con" that has
> been foisted upon "clever, smart" (sic) people, well, since time began.
> "Public-key cryptography" is designed around a truly-intractable (so far
> as we know ...) mathematical problem. Whereas "bitcoin" is designed around
> a =difficult= problem (at least, "difficult" in the way that all of you
> have been taught to approach it ...), yet "not so difficult that it cannot
> be, by sheer brute force, periodically solved." A quarter has to drop out
> of the one-armed bandit now and then, just to keep the suckers going.
> Obviously, there IS a "private key" to this puzzle, and, equally
> obviously, you don't have it. All of this is plenty good enough to enable
> people to sell you(!) these mathematical one-armed bandits for $5,000 USD a
> There is no "bubble." There is only: "sucker."
> " ... and two to take him."
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