A few thoughts - Saturday, April 19, 2014

Post by **Steve Sokolowski** » Sat Apr 19, 2014 12:00 pm

Brief thoughts for today:

1. It gets tiring to listen to people from poorly managed bitcoin companies coming up with insane plans to somehow save their companies even though they are insolvent. After Mt Gox, we now have Neo and Bee. Am I the only person who believes that if a company fails, then there are plenty of trustworthy and deserving people who should get a chance instead? Karpeles, until last week, was still on IRC talking about how he was going to resurrect Gox with a new plan, as if he was on another planet. He'll be lucky if he's not in jail by this time next year.

2. If you have a GPU, and want to build up some capital for trading, you should turn it ON now. There are some amazing numbers coming out now - $4 to $6/Mh/day at this point. Just don't use Middlecoin, as their payouts are inferior to everyone else's. At this rate, you can get 0.1 bitcoins as a start to amass your trading fortune with just ten days of mining using a 7970.

3. The longer there isn't a crash, the harder it is not to think that this is just another instance of history repeating itself. Look at the bubble charts if you haven't already. The price is now maintaining itself well above the lower boundary.

I edited this post to provide a warning: it seems that the numbers are going up way too high over the course of the morning, which may be indicative of a miscalculation on my part. Disregard my advice until I can figure out what the problem is.

I read something about the 42 coin having had a hard fork, and I'm wondering if that is the cause of these numbers. But I don't know when the hard fork was or what caused it, so I'll need to investigate further to see if that is making the results inaccurate.