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the market: stocks, bonds, options, whatever

How much would you say you make per month? I have never really looked into mining. So I guess mining ETH is feasible without having a series of top of the line miners? Are there any other cryptos worth mining for someone without a fancy machine? I wouldn't mind getting a passive income stream going, even if it's not a lot. It could be another small bit of crypto into my investment money stream.
 
The mine currently nets right around $400.00 (.007 BTC) with about $30.00 of extra electric bill.

The main problem right now is actually getting one's hands on a GPU. I already owned a RTX 2080 ti from last gen and lucked out buying a RTX 3090 before everyone wanted one, they all were trying to score RTX 3080's
 
The prices are now at least triple the MFRP. it totally sucks! :(

I started quite a few generations of cards ago, each paid for themselves plus I used them for work. The current prices, not so much...
 
fuck... i have an nvidia geforce 2080 (i think, will check in the mornnig)- not mine but in my house for my sole use. should i be using it to make money on the side?

i also have 72 hyperthreads and 400 gig of RAM but i need those more often than the GPU, can i get money out of them while they're sitting idle and if so how?
 
Here's an overview from CNBC.



I use different software, there are many approaches. You're not gonna make whole lot with one RTX 2080... but yes it's possible.
 
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Okay so I did some stoner math tonight.
Start with $5000 on a cryptocurrency exchange.
Make a trade or trades that net you 2% every 2 weeks.
This should be pretty easy given the volatility of the market.
Use stable coins if you need to.
If you can maintain 2% every 2 weeks then you should be able to have over 3 million dollars in 8 years.
You don't need to just hodl and wait for your riches. You just need something to go up 2% in 2 weeks and then tether.
Of course you could probably do way better, i'm just saying if we took $5000 and sniped our 2% we could all be millionaires.
And you can start whenever because all you need is a fluctuating market.
If you are an utter pro and get your 2% every week then you can have $50,000,000 in 10 years. Just thinking about that is enough to make me try.
 
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Wow. Of course that assumes that you never misjudge and lose 2% (or more) in 2 weeks. But yeah if you use Tether to hold your value for the vast majority of your investment, it's more feasible to do this. If you held everything in BTC or any fluctuating coin, you would be subject to the whims of BTC. Though, in 10 years, BTC is probably going to be so much higher than it is now. Probably.
 
Everything (including bonds and crypto) is in a huge bubble and this extra stimulus may inflate it even higher. But Warren Buffet is currently holding higher than normal percentage of cash. I wouldn't be at all surprised if there wasn't a huge correction within 18 months. Tech is overpriced..

Though cash may be inflated away, I'd still keep at least six months and ideally up to three years' living expenses as cash savings. Beyond that, you could drip feed into passive ETFs such as those run by Vanguard, i-shares, or Blackrock.

You could hold a modest amount in Bitcoin though I fear that too may end badly like the tulip mania of the late 17th Century.

If your employer will contribute towards a pension or 401K/IRA, pay up to their maximum price match. This might be perhaps 3-5% of your salary. Otherwise, build up your emergency cash nest egg first.
 
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I definitely struggle to keep that cash back up, but I am living within a very narrow band of funds at the moment.
My savings plan this year barely affords me meals. But that is thanks to 2 employer contributed retirements, optional life insurance, 3 mutual funds (and Cannabis ETFs), a RothIRA, paying for my property and paying off a debt consolidation loan, all managed by an advisor. I have gotten so anxious about the time I have spent in debt that its driving me mildly crazy. So I am here demanding I scrape together another bill on top of all that and handle it mechanically and straight assassinate my debt.
What I realized that fueled my train of thought last night is that I was able to follow the Buy/Sell recommendation on Coinbase and made 10% in 3 days. Well shit, if Coinbase is literally telling me how to make money then why not. I am running my own little experiment with $100 just to see if it can really be done as methodically as it appeared to have worked in that instant. I see some coin with at least 2% gain every day. If its just a matter of learning to reliably predict a coin that would make those gains in 2 weeks and systematically conducting that trade then there is no reason I shouldn't be able to live up to my demands of having a debt free life. I used to get hung up with the part where you sell and take your profits. There is this feeling like the moment I don't hold I will be left behind. It just sorta hit me you don't need to wait for the market to go up on that scale. If Coinbase will just tell me when to buy and then a few days later I do it again then it would practically be passive income.
I dunno. I'll let you guys know if I succeed or starve to death first.
 
I have major FOMO in BTC/ETH but I'm really trying to only put in what I'm truly willing to lose. As much as I'm a cryptocurrency maximalist and seeing all the institutional support is great, losing even half of my savings or retirement would be heartbreaking. Yes it's a bull run, yes there will be a correction with a new floor, yes DCA'ing is great, but I can't bring myself to take the risk of pausing all of my other traditional savings and throw them into Bitcoin. I'll probably sell a bit this year to cover some of what I originally put in during this cycle, but all-in-all I'm playing it safe. I might miss out on some crazy gains, but I'm trying to be level-headed, not greedy, and focus on what's actually going to bring long-term to joy to my life when I already have so much (a partner, home, good career, access to nature, etc).
 
Oh, yeah, I wouldn't dream of compromising my retirement plans. They are still my most reliable ticket to some form of income in my older years.
Just to be clear I was more thinking of something like a crypto-piggy bank. If started with 5000, added no new money, basically tethered most of the time and only conducted a 2% net gain trade once a month you could still have $250,000 value in 6 years.
Hopefully its not too detrimental to even get the $5000 starting point, but compounding gains seem to take off suddenly and I don't think I truly realized how realistic it could be for me to even be worth $100,000 in the next 5 years. I just didn't see the path that would accomplish that.
 
I need to build my savings back up, it is inconceivable for me to save 3 years of living expenses, that would take me an insanely long amount of time, way more than 3 years. I will not be doing that. Even 6 months would take me quite some time.

electronDegenerate said:
I definitely struggle to keep that cash back up, but I am living within a very narrow band of funds at the moment.
My savings plan this year barely affords me meals. But that is thanks to 2 employer contributed retirements, optional life insurance, 3 mutual funds (and Cannabis ETFs), a RothIRA, paying for my property and paying off a debt consolidation loan, all managed by an advisor. I have gotten so anxious about the time I have spent in debt that its driving me mildly crazy. So I am here demanding I scrape together another bill on top of all that and handle it mechanically and straight assassinate my debt.
What I realized that fueled my train of thought last night is that I was able to follow the Buy/Sell recommendation on Coinbase and made 10% in 3 days. Well shit, if Coinbase is literally telling me how to make money then why not. I am running my own little experiment with $100 just to see if it can really be done as methodically as it appeared to have worked in that instant. I see some coin with at least 2% gain every day. If its just a matter of learning to reliably predict a coin that would make those gains in 2 weeks and systematically conducting that trade then there is no reason I shouldn't be able to live up to my demands of having a debt free life. I used to get hung up with the part where you sell and take your profits. There is this feeling like the moment I don't hold I will be left behind. It just sorta hit me you don't need to wait for the market to go up on that scale. If Coinbase will just tell me when to buy and then a few days later I do it again then it would practically be passive income.
I dunno. I'll let you guys know if I succeed or starve to death first.
Click to expand...

I got kicked off coinbase/GDAX for life because I sent money directly to an RC vendor from there once, in 2017. I have used all sorts of exchanges though, Binance, some now-defunct ones, and Gemini. At the moment I have almost $200 in crypto after the last few days of rising. Even with that small amount it would be worth running the sort of experiment you're suggesting. In fact, for experimentation purposes, it would be better with a small amount, to start. And any amount will eventually lead to tremendous gains over time.
 
Yeah, that's definitly a no-no Xorkoth, LOL :)

But I agree, a small investment is great to start with. I started with the leftover BTC I mined just to buy some RC's ...

If only we knew, right Xork, if only we knew ... :unsure:
 
No kidding. If I had saved 1BTC for every 1BTC I've bought over the years I'd be fairly wealthy right now. Actually though I am sure I would have sold it at some other earlier point. But you know, with perfect hindsight...

But yeah I was buying BTC at $200
 
Woof.
I actually did that once or twice myself. Never got caught. :devilish:
What really draws me to this plan of mine is that the total strength of the market is irrelevant. The markets just have to exist and have those juicy wild swinging spikes in them. I just have to learn to reliably pick a coin that will go up 2% at some point in the month, and preserve my gains.

Honestly Coinbase blows for trading. I just have this view of them possibly being a more secure exchange. The US Binance seems crazy limited compared to the original, but the website functions so much better I don't have this feeling like my funds are at stake anymore.
I also use KuCoin, but I realize the fact that they have no SEC backing makes me slightly uncomfortable.
 
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Coinbase Pro is great for avoiding fees, but I'm convinced people who have access to the backend use/sell the trading information to influence their own strategies and positions. Uniswap/DeFi is the way to exchange, but I use Coinbase Pro as my on-ramp from fiat. Kraken looks really interesting though, and I'm thinking of switching if the fees are lower or if there's another incentive.

I'm just hodling my tiny BTC and ETH positions, DCA'ing what I'm willing to lose each month, and hoping for the best. I think cryptocurrency-based Roth IRAs are super interesting (like iTrustCapital), but the lack of any kind of recourse should something happen to the underlying assets if they tank is still pretty risky.

Relatedly, are people paying capital gains taxes whenever they buy drugs with cryptocurrencies? The next time I do this I probably will to be honest, given the recent investigations and experts at the IRS/CIA/NSA/etc looking into it, but I'm shocked how many people have been purchasing drugs with crypto they bought directly from KYC exchanges without even CoinJoining or mixing, and not reporting taxes on it. Seems like it's not worth the potential audit if you do it regularly, but sometimes the amounts are small enough to where the IRS really doesn't care.
 
If you buy crypto and immediately buy something with it, you're not making any profits, so I don't think you'd have to pay tax on it, right? Or like, maybe a few cents profit or whatever. I believe you only have to pay taxes if you sell the crypto again for fiat currency, and then your profits are taxable. I don't think taxes come into it if you buy it, and then spend the crypto itself. But I could be wrong. Either way you don't have to pay tax when you buy crypto, it's when you profit from it.
 
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