Author Topic: Talking to BTC hodlers about mining is a waste of time  (Read 4542 times)

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Offline santaclause102

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Don't give up, it does get through to some people.  I used to be one of the 'hate all altcoins' bitcoin holders until this month.  I got so tired of seeing bitcoin decline, and reading about how all the new mining coins coming in every day were hurting the price.  When I read about bitshares, and how it attempts to be an autonomous company that actually makes a profit that is returned to holders, instead of bleeding money through the expensive mining process, I became a convert. 

A dividend paying asset is far superior in the long term to an inflating currency!   That is the key selling point.  And bitshares has the best name to drive this home.  Bitcoin is the currency, Bitshares is the asset!

I'm now in the process of converting 1/3 of my bitcoins to bitshares.  (Not ready to go all in because bitcoin is still so much larger and thus less risky. If bitshares is indeed better, then my holding of it will grow in time to surpass my bitcoin holdings).

True Bitcoin is less risky short term (for the next month). But value investing tells us to buy assets which are highly undervalued which reduces the risk long term.

Offline James212

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Even Coindesk editors dont have a clue: http://www.coindesk.com/two-words-explain-price-movements-bitcoin/

No mention of mining expenses at all.

While I generally agree that Coindesk is POW biased, the article linked had this disclaimer listed at the bottom:

Disclaimer: The views expressed in this article are those of the author and do not necessarily represent the views of, and should not be attributed to, CoinDesk.

What an article..   It essentially is saying Bitcoin is down, because Bitcoin is down!!  Duh!!    Bitcoin is down because its perceived utility at the moment is out weighed by its costs!
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Offline James212

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I'm now in the process of converting 1/3 of my bitcoins to bitshares.  (Not ready to go all in because bitcoin is still so much larger and thus less risky. If bitshares is indeed better, then my holding of it will grow in time to surpass my bitcoin holdings).

I'm doing a similar thing, but bitshares can be superior and still fail, for example if enough momentum isn't captured via lots of marketing.  There's a lot to do in the next 6 months!

 +5%
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Offline Ander

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Had you two been around during the 200 days of AGS funding, you may have obsessively, compulsively, ended up 100% in BitShares  8)

I wish. :)

It looks like you guys got into bitshares for under a penny!  I only get to be in the second wave of adopters.
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Offline sschechter

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I'm doing a similar thing, but bitshares can be superior and still fail, for example if enough momentum isn't captured via lots of marketing.  There's a lot to do in the next 6 months!

Yes, thats the main reason I'm only doing 1/3 of my bitcoin.   If bitshares succeeds, that will be plenty.

Had you two been around during the 200 days of AGS funding, you may have obsessively, compulsively, ended up 100% in BitShares  8)
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Offline Ander

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I'm doing a similar thing, but bitshares can be superior and still fail, for example if enough momentum isn't captured via lots of marketing.  There's a lot to do in the next 6 months!

Yes, thats the main reason I'm only doing 1/3 of my bitcoin.   If bitshares succeeds, that will be plenty.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline sschechter

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Even Coindesk editors dont have a clue: http://www.coindesk.com/two-words-explain-price-movements-bitcoin/

No mention of mining expenses at all.

While I generally agree that Coindesk is POW biased, the article linked had this disclaimer listed at the bottom:

Disclaimer: The views expressed in this article are those of the author and do not necessarily represent the views of, and should not be attributed to, CoinDesk.
BTSX: sschechter
PTS: PvBUyPrDRkJLVXZfvWjdudRtQgv1Fcy5Qe

Offline speedy

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Offline speedy

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Don't give up, it does get through to some people.  I used to be one of the 'hate all altcoins' bitcoin holders until this month.  I got so tired of seeing bitcoin decline, and reading about how all the new mining coins coming in every day were hurting the price.  When I read about bitshares, and how it attempts to be an autonomous company that actually makes a profit that is returned to holders, instead of bleeding money through the expensive mining process, I became a convert. 

A dividend paying asset is far superior in the long term to an inflating currency!   That is the key selling point.  And bitshares has the best name to drive this home.  Bitcoin is the currency, Bitshares is the asset!

Amen!

Yes I was in frustrated rant mode when I said it was a waste of time. It definitely is worthwhile (as youve just demonstrated) to try to enlighten others about DAC profitability. Its just difficult to get the message across.

Offline matt608

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I'm now in the process of converting 1/3 of my bitcoins to bitshares.  (Not ready to go all in because bitcoin is still so much larger and thus less risky. If bitshares is indeed better, then my holding of it will grow in time to surpass my bitcoin holdings).

I'm doing a similar thing, but bitshares can be superior and still fail, for example if enough momentum isn't captured via lots of marketing.  There's a lot to do in the next 6 months!

Offline CoinHoarder

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Haha, good picture. :)

Admittedly I have lost my cool in that thread a few times, but I try to remain calm and cordial. I only get that way with the most stubborn of people. It is one thing to be wrong, and then when someone point it out to you that you are wrong admitting that you were. I am wrong all the time and when people can convince me that I am wrong I will be the first to admit it, it is a part of learning. It's another thing when someone is wrong and refuses to admit or, or at the very least admit you have a point.

Unfortunately, I have ran into a lot of cases of the latter from the Bitcoin crowd. I'm not saying I am 100% right all the time in terms of Bitcoin's problems and Bitshares's solutions, as some of it is based on speculation as to what will happen in the future, but a lot of people refuse to admit that I at least have somewhat of a point even though they might not agree with it. This is what annoys me.
« Last Edit: September 24, 2014, 07:05:44 pm by CoinHoarder »
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Offline xeroc

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So, that's how one overclocks an iPhone...

.. microwave speed .. that's almost nano scale!!!

Offline tonyk

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@xeroc

So, that's how one overclocks an iPhone...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Ander

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Don't give up, it does get through to some people.  I used to be one of the 'hate all altcoins' bitcoin holders until this month.  I got so tired of seeing bitcoin decline, and reading about how all the new mining coins coming in every day were hurting the price.  When I read about bitshares, and how it attempts to be an autonomous company that actually makes a profit that is returned to holders, instead of bleeding money through the expensive mining process, I became a convert. 

A dividend paying asset is far superior in the long term to an inflating currency!   That is the key selling point.  And bitshares has the best name to drive this home.  Bitcoin is the currency, Bitshares is the asset!

I'm now in the process of converting 1/3 of my bitcoins to bitshares.  (Not ready to go all in because bitcoin is still so much larger and thus less risky. If bitshares is indeed better, then my holding of it will grow in time to surpass my bitcoin holdings). 
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline xeroc

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If it is not working at 500Watt you should try 900Watt!! Should work much better!