Author Topic: Bitcoin Mining  (Read 17865 times)

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Offline Con

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Re: Bitcoin Mining
« Reply #60 on: September 06, 2018, 02:20:52 PM »
Whats the latest for the crypto miners - still in the game?

Con

Offline Windigo

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Re: Bitcoin Mining
« Reply #61 on: September 06, 2018, 03:00:57 PM »
Whats the latest for the crypto miners - still in the game?

Con

The game has changed big time, but I am still playing.

Here is my gift to all you crypto-followers... I have known these guys for over a year and they got tired of bullshit coins and developers... they made their own... very early days for it.


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Offline CptHowdy

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Re: Bitcoin Mining
« Reply #62 on: May 13, 2021, 12:08:12 AM »
so 3 years later how is everyone doing at this? i never started mining just didnt have the resources. i have those now but just wondering if straight up buying the coin is better than mining it? im sure SDR wishes he had 3 bitcoin right now! ethereum seems to be the next big thing and is reasonably priced. tried watching YTube vids to see what people are saying about mining but not getting any decent info from them. input from this forum would be excellent. i trust you guys!

Offline Silent Disapproval Robot

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Re: Bitcoin Mining
« Reply #63 on: May 13, 2021, 12:51:55 AM »
Big losses today after Elon tanked BTC by saying Tesla wouldn't accept it anymore due to the energy costs associated with mining.  All the alt coins tanked along with it.

I wonder if he's going to jump on XRP as it's the "green" coin.  Bitcoin's been slowly losing market dominance (down to 48% of total crypto value last time I looked).  It's still the big boy of the block but it's slower than other coins and uses more energy because they stuck with the 1MB size.

Cardano, Etherium, and XRP are faster and better at POW contracts than bitcoin.  They might start to take over.  I think a lot will depend on the outcome of the SEC's case against LBRY and what precident it sets.  I wish I'd bought more ETH last year but I thought it might be done as ETH 2.0 was in the pipe.

I'm holding about a 90% BTC, 9% ETH and dabbling in some random shitcoins with the final 1%.  Up about 3.5X on my investments after today's drop and I'm going long and holding what I have and buying more when I can.

Yeah, in hindsight I wish I'd held those 3 BTC but can't worry about it.  I still came out ahead.  Same with Doge.  I bought a piddling amount at $.03 and sold it at $0.11.  Not the huge gains I could've made had I held it, but still a win.

I'd have a look at the finance 2.0 section over at www.odysee.com.  lots of the crypto crowd post videos there.

Offline nobodyjune61944

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Re: Bitcoin Mining
« Reply #64 on: May 24, 2021, 11:00:36 AM »
The US Internal Revenue Service announced that they were going to carefully audit and track any profits from crypto currency.  That was either the leading element, or a close follow-up to the recent bitcoin crash.

The IRS auditing bitcoin/cryptocurrency was inevitable once it got large enough.  This will have a profound impact on the nongovernment backed currency.

My guess is that it will lower valuations substantially - like nongovernment currencies in the past.  This happened in the USA once before when FDR banned the use of gold to pay ordinary debts - and then the IRS was sent after those who routinely did business in gold transactions.

Offline nobodyjune61944

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Re: Bitcoin Mining
« Reply #65 on: May 28, 2021, 06:53:23 PM »
The Chinese Communists have publicly announced that they are going to ban bitcoin in China.  They have told their subjects to transfer out of the funds by a set date.

They have done similar things under the current dictator - so I doubt if they are bluffing.

Offline Silent Disapproval Robot

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Re: Bitcoin Mining
« Reply #66 on: May 28, 2021, 09:48:10 PM »
I think they are. 

They want to get individual investors out, depress the value, and then buy it up on the dip.  Analytics showed the same thing happened when Turkey and India banned it.  When Elon announced Tesla wouldn't accept Bitcoin as payment anymore and the value tanked,  the average value sold was between $100-$200 and the average buy on the dips was 100x that.  Indicates to me that the big players are exploiting the volatility of the coin in order to accrue more when the price drops.

Offline Staggerwing

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Re: Bitcoin Mining
« Reply #67 on: May 29, 2021, 07:20:53 AM »
That kind of price manipulation could never happen with precious metals, now could it?
Vituđ ér enn - eđa hvat?  -Voluspa

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Offline solops

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Re: Bitcoin Mining
« Reply #68 on: May 29, 2021, 10:14:27 AM »
That kind of price manipulation could never happen with precious metals, now could it?
Much tougher, but doable. Ask the Hunt brothers.
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Offline Staggerwing

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Re: Bitcoin Mining
« Reply #69 on: May 29, 2021, 12:15:01 PM »
Just who I was thinking of.
Vituđ ér enn - eđa hvat?  -Voluspa

Nothing really rocks and nothing really rolls and nothing's ever worth the cost...

"Don't you look at me that way..." -the Abyss
 
'When searching for a meaningful embrace, sometimes my self respect took second place' -Iggy Pop, Cry for Love

... this will go down on your permanent record... -the Violent Femmes, 'Kiss Off'-

"I'm not just anyone, I'm not just anyone-
I got my time machine, got my 'electronic dream!"
-Sonic Reducer, -Dead Boys

Offline nobodyjune61944

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Re: Bitcoin Mining
« Reply #70 on: May 29, 2021, 12:31:25 PM »
I think they are. 

They want to get individual investors out, depress the value, and then buy it up on the dip.  Analytics showed the same thing happened when Turkey and India banned it.  When Elon announced Tesla wouldn't accept Bitcoin as payment anymore and the value tanked,  the average value sold was between $100-$200 and the average buy on the dips was 100x that.  Indicates to me that the big players are exploiting the volatility of the coin in order to accrue more when the price drops.

I don't understand bitcoin.  I've not tried to understand it beyond my knowledge of other non-government backed currencies over the last 100 years.
Given my disclosure, your comment could be lifted verbatim substituting the item (bitcoin) and the specifics (Turkey & India) from any discussion of financial bubbles in the last three centuries.   Do as you wish, but I avoid investments that I don't understand or which resemble classic financial bubbles from the past.

Offline Gusington

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Re: Bitcoin Mining
« Reply #71 on: May 29, 2021, 01:57:14 PM »
I got some tulip bulbs here burning a hole in my pocket.
"I'm not even dead and I'm rolling over in my grave."

- Toonces

Offline steve58

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Re: Bitcoin Mining
« Reply #72 on: May 29, 2021, 03:06:00 PM »
I got some tulip bulbs here burning a hole in my pocket.

I bid one Dogecoin.
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Offline Staggerwing

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Re: Bitcoin Mining
« Reply #73 on: May 29, 2021, 04:14:40 PM »
I got some tulip bulbs here burning a hole in my pocket.

If the prices tank again on tulip bulbs at least you can roast them up and eat them.
Vituđ ér enn - eđa hvat?  -Voluspa

Nothing really rocks and nothing really rolls and nothing's ever worth the cost...

"Don't you look at me that way..." -the Abyss
 
'When searching for a meaningful embrace, sometimes my self respect took second place' -Iggy Pop, Cry for Love

... this will go down on your permanent record... -the Violent Femmes, 'Kiss Off'-

"I'm not just anyone, I'm not just anyone-
I got my time machine, got my 'electronic dream!"
-Sonic Reducer, -Dead Boys

Offline Silent Disapproval Robot

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Re: Bitcoin Mining
« Reply #74 on: May 29, 2021, 04:48:31 PM »
Could very well be another spec bubble.  Then again, it's been going and increasing for 12 years.  The tulip mania was only a season.  I got hammered pretty bad in 2008 and my more traditional portfolios took another beating with the COVID thing.  With the way they've been printing money, I figure holding cash is a bad idea and real estate around here is too expensive to buy, so I've been doing precious metals (even though I tried that with silver post 2008 and that didn't pan out) and crypto.  Crypto has taken a beating over the last month but I'm still up.  I think the only thing I've bought that's out performed it is ammo.