Bitcoin mining not worth it anymore 2017

Last year, Bitcoin became more stable than gold, and earlier this year, the price of a Bitcoin surpassed that of an ounce of gold for the first time.No society ever needed a government to stimulate the production of goods and services.If you want to win me over to your argument, then make them instead of bullshitting your way through life. who knows, if your arguments are good enough i may believe like you.Cryptocurrency Investment guide explains everything about buying and. it is not worth it anymore. This is the reason bitcoin mining is no longer worth it.A likely future scenario is that we develop technology to get off the planet and start mining asteroids.It needs no government to determine its value among those who now trade for food, clothing, shelter, and whatever.

That might give gold, or at least some bank note proxy, the opportunity to make a return.If one were to view those pink circles as spheres then one can see that those stores of value are bubbles where the promise of their values depend upon the faith of those who believe the values are real.

How Are Gold and Bitcoin Different? - Market Realist

Research cryptos that were designed as currencies and the list shrinks substantially.Is bitcoin still worth looking into if you never tried mining yet but want.If cryto currency actually takes hold it will be in the form of sovereign digital currency.

When they do and you hear them start to buy it will be time to sell.In both cases, a predictable inflation rate not open to debasement by any party, hence vastly increased economic predictability, visibility, equity and efficiency.As people start the barter process they find that not everyone wants whet they have to sell on any particular day and yet they have their needs for goods others are trading in barter.

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All About Bitcoin Mining: Road To Riches Or Fool's Gold?

As shown by so many of our central banks, our stores of value tend to become less certain as to their real values.

Building a bankroll mining - Poker Forums - Cardschat

Go back to Network 1976 and listen to Howard Beale talk about getting mad.The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s).

Money is only a store of value as proclaimed by those who find it useful and valuable.Bus Interface: PCIe 2.0 x16, with a maximum memory Size of 2048 MB.At some point the government will crack whatever hashing algorithm BTC uses.The following represents the amount of each coin I mined in 24 hours and its worth in USD.The fact that you need to declare it, means they can easily block it, should they feel like it.Is there any security vulnerability of the technology itself then.If that were to happen then the value of each individual unit of Bitcoin would revert towards its original price.Absent that, widespread use is unlikely, as noone wants their entire transaction history and all their account statements to just lay open for all to see.

Thus gold and silver had utility as a money, a store of value.

Bitcoin Development Similar to 1800s Gold Rush: Expert

Bitcoins aren...Consult your investment adviser before making any investment decisions.

But no one in Wiemar Germany gave a single thought to the currency system or the role of the central bank or any technical aspect of banking and monetary policy.You can buy precious metals anywhere in the world with a credit card.While Markets Get Seized: Pedophiles Launch a Crowdfunding Site.But from what I can see, Bitcoin is not really for use as a medium of exchange as it is as a medium of speculation.They do tend to pull you to the side and FBI background record check you though when you enter declaring large amounts of cash.

So someone using BTC as a transfer mechanism will not worry over the price, only its variability over the time of use of transfer, which may be one hour.Did you know that the content of your post is a major reason so many people are so bullish about Bitcoin.They are what they are taken for, subject to what others take them for.So, as for confidence, Gold has a lot more history behind it than Bitcoin.A currency needs to have stability to be of any long term use in an economy.

Bitcoin at crossroads after shedding more than $27 billion

Those who want to do away with cash are interested in blockchain so called money.

My Graphic card is a NVIDIA GEFORCE 820M with an average GPU benchmark of 577.But with precious metals it would be hard to do as black markets would take over sorta like in India when they tried to tax gold to death.Thank you for the information, I shall read it tonight and study your arguments.But gold and silver have little utility and hence value for such transactions.When offering payment for that pint, which will the owner accept.With paper money, a government decides when to print and distribute money.Those guys you can always deal with once they do become the biggest threat.Yes, you raise some wonderful points but those points are secondary to the general economic activity.

In general, it is most efficient to focus on the closest, and most serious problem first.Bitcoin was designed to appreciate in value by the way it is created.And because the US can borrow in its own currency, in the money it prints, there is no reason for it to fear issuing treasuries.The technology is not a scam but many cryptocurrencies are a scam.Old fashion horse trading is a form of barter and it still exists in this country as well as many others.You can already watch all transactions every second of every day without hacking anything.As of current, Gold has a proven history of working well for millennia, Bitcoin for a few years.

It is, like the laws of supply and demand, a generalization, a concept.Precious metals may, over time, be far more stable as a store of value but their utility comes into question.

I perceive Bitcoin as a payment method, not as an asset class, so I think it does not matter if Bitcoin price will go up, down or in circles,.The good news of Bitcoin being so small now is that it still has a lot of room to grow.

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When the return stops, that particular project was not viable.So you offer me two sources for your argument, one original by an anthropologist who uses weasel words and a second source by a journalist who tries to paraphrase the words of others and does it rather badly.There are also infinite varieties of precious metals and physical assets where people park their money: gold, silver, platinum, diamonds, real estate, even stock market (not physical but also used to park wealth).Full faith and credit to some unknown computer algorithms of unknown origin and location.Controlling you will be so much easier with a blockchain which records and keeps your transaction forever and for the world to know about it.They are all city kids who have usually never had a real job in their lives and have limited world experience.

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