Back when I started the mining group for Tek Syndicate, I did some early number crunching and found that at the inflation rate (per day) would make the price of BTC hit $500 USD by Christmas.
Well, it appears that the value has made it to my predictions, but the only thing is, it happened a month early...
Throw your thoughts in the comments! ;)
BTC maybe be 5X more valuable than it was a month ago- But is it 5x harder to gain?
We need some asics to mine for TS only.
Too bad we only ever saw about 5.1 coins, though. :)
The mining difficulty has also tracked with the price, though: http://bitcoindifficulty.com/ (if not more so). Cost-effective GPU mining is still kind of a wash.
I think that BTC is more about buying upfront, now. Mining will just waste your components' lifespan and add to your powerbill if you're trying to do this for profit. However, for those of us who Fold, and, yes, I have posted this link in the Folding thread already, there is CureCoin. For those who are already Folding, you will be able to, possibly, profit from Folding, if not simply pay for some of the powerbill with it. BTC is so hard to mine now, to get into BTC, you would have to been mining 4 years ago.
I noticed that there was still 1.99 BTC sitting in that wallet address of yours and Logans. ;)
I'm not saying mining BTC is worth it, but the trade value of LTC into BTC is still high enough to make it profitable.
So is the new plan to pool together some thousand dollars for TS, Invest in BTC, then in 6months time sell the coins when it has risen more.
Maybe this was the pitchIns plan all along? :D
These are the tipjar donations so far. :)
We put some of the BTC into LTC ages ago, and they are not as valuable as BTC now. I suppose if you play LTC and BTC off of one another continually buying low/selling high between the two you might come out on top. Maybe. But its more attention than is worth it.. at least for the BTC we put in LTC a few months ago.
New plan is to take Paid Memberships and do away with ads and sponsors (to some extent). 200k subs if 1 in 20 subs paid an average of $1/mo we could do a lot with that. The reality is we've only got about 60k users here on the site... so we'll probably ask for about $3 (buy us a coffee) and $8 (buy us a beer) on the site. That is what the 'BeanDonor' thing is under our avatar. It is "pretty much" working and live on the site (yay we take credit cards) just waiting to take it live a bit longer. Hopefully that'll be successful.
(membership not required, of course, but if you do sign up, wear it like a badge of honor etc).
From a mining to selling aspect, LTC is the easier way into getting BTC.
But as per trading pre existing assets of BTC, you'd be better off keeping it as BTC.
But if your pre existing assets are in LTC, transferring it into BTC does make it more profitable over time, as the value of LTC is heavily reliant on the price and trading in BTC.
That's a great plan. Google ads/youtube are evil in the sense that they could pull the plug if they really wanted to leaving people stranded. Moving to a donor system is I think much better. But the advantage of donating can't be a boost in the forum/rank. It's should only cosmetic. Just what like LTT did with the first blood campaign.
I would support you guys today. Hopefully the subscription system is open soon. ;).
So yeah... $600 barrier has been broken... X_X
The're increasing so fast, they ARE going to fall. Everyone is selling right about now. Another crash will happen.
Nothing we can do but sit and watch the value.
Not unless people want to work together to mine LTC. :P