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BITCOIN Discussion v. 8 Coins on an Old Computer

Very interesting CFC ! It looks very organic. I like it !

Mining can get very expensive in terms of equipment. I amortized my build by having an initial mine that funded construction of the next generation ( like your brother ).

When Carter from BBT first broke the fact that Nvidia cards were very viable mining equipment, plenty of the old line miners were pissed because he let the cat out of the bag. I was rocking nVidia cards and keeping it under the radar, LOL. Previous to that it was all AMD. The nVidia cards may have slightly lower output in terms of raw hash rate, however the AMD cards were burning up so much juice the nVidia cards were outperforming AMD in profit ratio. Most of that is now common knowledge, and led to the great video card shortage of 2017.

Me, I'm happy either way.
 
^ Ha, I didn't realise that, nice little in-secret :)

I have about as much computer savvy as the average 90 year old woman, but I still like to read about things from afar and the whole mining thing is pretty fascinating. Plus I'm an old hand at trading stocks and shares so this is obviously pretty engrossing.

Fingers crossed things aren't about to go pear shaped. But I suspect that even if they do, it'll only be temporary as this is still effectively the very beginnings of what's likely to be the future of money. Right?
 
CFC said:
^

Fingers crossed things aren't about to go pear shaped. But I suspect that even if they do, it'll only be temporary as this is still effectively the very beginnings of what's likely to be the future of money. Right?
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That's the way I see it, however I must shout out very loudly "I've been wrong before". :)
 
White_Rose said:
Most of that is now common knowledge, and led to the great video card shortage of 2017.
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Yeah this sucked when I was planning to upgrade to a 1080 GTX for a gaming rig, prices were through the roof around mid-year.

Xorkoth said:
Over the past couple of weeks I've learned a lot, I've decided that trying to day trade cryptos isn't my game, too stressful and feels kinda like addiction, so I'm looking at more long-term investment strategies now. My friend has helped me a lot through us talking for hours about it, and I'm starting to learn how to learn for myself.
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Same here.

It's far too stressful for me.. i'll go to bed watching charts and wake up watching charts. The coins I trade for other coins end up doing well after the fact and then coins I was considering but hesitated on end up surging which creates a crazy FOMO effect. I've had some success buying at the bottom when I was expecting a drop in price because of days of research and reading news but it's too consuming and like you said starts to feel like an addiction. I expected Ripple to jump days before it did because forums I was reading were rumoring an upcoming announcement but I didn't think it would go as high as it did so I ignored it.

Right now I've settle on some coins after lots of research and i'll probably sit on these and just hold through the ebb and flow, avoiding looking at the market too much. I'm up about $600 from my initial investment which has been holding steady with a few dips here and there, but I got these coins on major dips so unless there's a big crash with BTC like earlier in December their value should consolidate above what I paid.
 
Man I made a great call in crypto and invested in XVG (Verge) right before it started taking off... in one day my entire total investment has more than doubled (XVG has almost tripled but I've got other coins too) and it's spiking the hardest so far right now, basically following an exponential curve. Went from ~$300M total market cap to over $800M right now, in less than 24 hours. In the last hour or so it people put another $100M in. Crazy, I finally made a good call. Let's see where it goes... once it levels off and it seems like it won't keep getting bigger I'll trade it all in for bitcoin. I also have a bunch of Ripple which has been exploding, it's on a downturn right now but I believe it will go way up again very soon when it starts being offered on Coinbase. It kinda kills me because I used to have 5000 Ripple when it was like 11 cents per coin but I sold it all for some random altcoin that ended up tanking and I lost a bunch of money. Now I've got about 900 of them. I am estimating that my initial $700 investment is going to end up at $4-5k. Then I'll flip it back into BTC which is basically just steadily, reliably rising.

Crazy world we live in, where in a single day an investment can double or triple. Wish I had had access to a lot more, ultimately hundreds of dollars isn't too huge but it sure feels nice to finally be getting a handle on the whole thing.

I don't think it's gonna crash yet personally. At the moment I only have 0.000000003 BTC though. :D
 
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Xorkoth said:
Man I made a great call in crypto and invested in XVG (Verge) right before it started taking off...
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Yeah I saw that.. Verge was one of the coins I was considering a while back when it was 0.01c but I went with Digibyte. These two coins serve similar purposes and generally go up and down with each other, so naturally because of Verge's 200% increase.. Digibyte also went up some 70%. Doubled my initial investment.. I expect them to both go down at the same time. I am wary of these runs because it's usually a pump and dump; I think in Verge's case John McAffee tweeted something about it which helped it's value surge..

I think Verge has more potential to rise faster because Digibyte has a huge sell-wall in place from it's rally back in June up to 0.09. It'll have to break through that to make any momentum..
 
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I don't fear a pump and dump as much when the market cap is nearing a billion... of course it could still happen. In any case I sold it all after I more than doubled my total holdings, I was spending an entire day traveling and didn't want to get screwed while I had no access to the Internet. I would have been fine but I still think I made the right call.
 
Verge is killing it hard still. A few days ago I had 25,000 Verge, sold most of it when it tripled in price overnight to avoid getting screwed. Now it's ~3x in value again, and I only have 4k still. Oh well, I still made a lot of money off of it, but I wish I had kept that 25k. Market cap is around $2B now. I think I'll hang on to the rest.

That BCH on Coinbase thing last night was crazy. I had no idea it was happening last night, I sold my BCH shortly before it went on Coinbase. Then bought more as it was raising really fast since BTC was dropping fast, didn't want to be holding it. Then I sold since it dumped and I didn't want to lose. Ended up losing about .015BTC. Then I made it back with Monero and Verge overnight. Crazy fucking crypto... 8o I'm still about double what I initially invested in total so I can't complain, really. But if I had played it differently over the past few days, I'd be at around 5 times my initial investment.
 
I don't know how you do Xorkoth ;)

I try not to think about the price of BTC because I believe in the underlying tech and mission, same with ETH. I do not pretend to know what's going to happen at any given moment and it's pretty scary to say the least. I still think it's over valued at this particular time and the correction is not out of order, but heck I'm really just guessing because no-one knows what's going to happen.

At least there is some good news on the horizon. The largest Auto sa;es group in Japan is now starting to accept payment at 53 dealerships in Japan initially with the rest to the dealerships to follow during 2128. This is a good fit because cars cost a fair bit so the transaction won't be clogging up the Blockchain as much as buying a coffee or other such smaller item stuff. All my present mines were sourced through a major electonics store that accepted BTC directly. Slowly but surely it is being accepted, the question is: "Will it be enough fast enough to continue the present growth?"

I wish I knew but I don't ;)
 
Crypto is tough man, so many what ifs, and you can't watch it too closely unless you really know what you're doing and have a lot of capital and decide to day trade it. Every time I've tried to day trade (including yesterday) I lost money. If you sit there watching it all day you feel compelled to buy or sell in response to the fairly wild hourly/minutely fluctuations, but generally this is a bad idea. Every time I've made a decision on a good crypto because of its technology, team and how it's being publicized, and played the (semi) long game, I've won (sometimes pretty big). I've only invested $700 so far, I plan to invest more after Christmas and with my tax return. So far I'm over 100% up on that $700 in a few months of really trying to do stuff with it. I suspect next year will be good for me. :) I also have the benefit of one of my best friends becoming somewhat of a guru (to me at least), he's doing VERY well and understands these things better than I do so he talks through it with me almost every day and I've learned a lot, and sometimes just go with his recommendations regardless.

Right now the privacy coins like Monero and Verge are doing very well and I suspect that trend will continue.

Crypto can be really stressful and really exciting. It's hard to balance those two unless you just decide what to invest and then don't watch it at all. But it can change so fast, you really should at least keep up with it if you invest.
 
Man this market...

2 weeks ago I was deciding between Verge and Digibyte when both coins were 0.01 and 0.02 respectively. I chose the latter and now Verge is surging, dammit hindsight!

I've invested about $3000 so far and i'm up about $2500 on top of that so it's going well but a few decisions lead me to miss out on massive opportunities.. however with that said it's impossible to know what's going to take off. I've learned to hold everything now though and it's working out, just ride those lows.. I won't be cashing out any fiat currency for another 12 months at the minimum so that I can take advantage of Capital Gains Tax discount, more incentive to just hold I guess.

EDIT:

The exchange I'm using just temporarily cancelled all cash deposits citing issues with Australian Banks. The panic is starting to set in.
 
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Crazy market indeed... BTC is correcting, down to 15.5k so far. Everything plunged last night but it's recovering now. it's difficult to hold and not panic. But I'm trying to just listen to my friend who is killing it in crypto. 3 months ago he deposited his last cash investment into the exchanges, he has put in about $8k of his money and in a few months he's up to 2.55BTC. He made some really good calls and stuck with them, he's gone 3x, 4x, 5x and 8x in 4 different cryptos. I'm a little under 2x in total right now but was over 2x yesterday so probably will be well over 2x soon when things climb back up.

Fucking crazy shit man...
 
I wish I would have gone all in Ripple when this drop started happening but it should correct soon. Ripple is the one major crypto that barely dipped, it's only about 20% of my holdings though. Feels bad to see your holdings cut in half, but good to remember I have the same amounts of everything and it won't look that way for long.

If I had gone to ripple, or tether (but tether is kinda weird and I don't trust it really), I could have sold much higher, then bought right about when it seems to be about to start recovering, and grabbed a nice 30-40%.

I've been learning so much. :) 2018 is going to be a good year for me in crypto I think.
 
Yeah Xoxoth, we tested the support from around Dec 6th and it is rebounding; so far so the test for a Bear movement did not succeed.

So far... but I feel that's where the real value was, just around $13K USD. We were growing too fast, too soon. If this is the bottom it would be a good entry point again, but no one can time the market in either direction.

BTW it wasn't only BTC. The entire crypto Market Cap went from ~600 B$ to ~438 B$ so it was an across the board correction. Ripple is ~10% down, too. Just just lost less, LOL; what a concept right ? ;)

Always great discussing with you Xorkoth ;)
 
i'm over the moon right now, cashed out all my XBT at the very peak (not for fiat, dear taxman) and split off a stack to get some gift cards and a fat sack of premo nugs.
 
This might be relevant to those of you in the U.S if you're not already aware:

https://www.bloomberg.com/news/arti...to-ether-trading-in-u-s-to-end-under-gop-plan

- Change makes trading one digital currency for another taxable
- Bill limits deferral break to real property trades only

Investors in bitcoin and other virtual currencies would lose a lucrative tax break under the Republican tax bill that’s on its way to President Donald Trump’s desk.

New limits in the bill would bar cryptocurrency owners from deferring capital gains taxes when trading one type of virtual currency for another -- effectively closing a gray area in the tax code, experts say.
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brings things in line with FX spot trading AFAIK but still silly as there are a few ways to trade without leaving any evidence that a trade occurred, especially since funds moving from one wallet to another don't necessarily mean a trade has even occurred (unless one of the wallets belongs to a known exchange). all this will achieve is defacto criminalization of crypto in pursuit of those that use the existing infra and tools to conduct trades anonymously
 
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