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Author Topic: cryptocurrency  (Read 11767 times)

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yotsuya

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cryptocurrency
« Reply #120 on: February 05, 2018, 03:49:12 pm »
It’s back in the 7s now. Crazy!
« Last Edit: February 05, 2018, 03:54:13 pm by yotsuya »
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shponglefan

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Re: cryptocurrency
« Reply #121 on: February 05, 2018, 05:26:17 pm »


...
« Last Edit: February 05, 2018, 05:28:39 pm by shponglefan »

vwalbridge

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Re: cryptocurrency
« Reply #122 on: February 05, 2018, 05:41:24 pm »
You need to update your gifs bro...

If you can read this, it means Photobucket's money grab ruined my signature photos.

yotsuya

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Re: cryptocurrency
« Reply #123 on: February 05, 2018, 05:57:40 pm »
Back in the 6s!
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shponglefan

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Re: cryptocurrency
« Reply #124 on: February 05, 2018, 06:02:23 pm »
What do you mean it was a bubble because everyone claiming to be the next big .com company was getting investment money thrown at them hand over foot even though they were not actually doing anything of importance or actual usefulness, it is exactly the same thing.

It's not exactly the same thing though, because during the tech boom you didn't have every single person screaming "Bubble!  It's a Bubble!"

Yet that is exactly what is happening with the whole crypto thing.  Heck, it's harder to find people who think it's *not* a bubble than those who do.

The whole thing is surreal.

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Re: cryptocurrency
« Reply #125 on: February 05, 2018, 11:25:33 pm »
It's not exactly the same thing though, because during the tech boom you didn't have every single person screaming "Bubble!  It's a Bubble!"

I think I tried to warn everyone I talked to in those days.  Oh well.  Can't save everyone.

yotsuya

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Re: cryptocurrency
« Reply #126 on: February 05, 2018, 11:50:32 pm »


We’ve got bush!!
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JDFan

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Re: cryptocurrency
« Reply #127 on: February 06, 2018, 12:03:34 am »
Will it make it to the 4's by morning   :dunno

fallacy

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Re: cryptocurrency
« Reply #128 on: February 06, 2018, 10:48:59 am »
lol I made 300 last night just selling at 600 and buying at 580. I put in a bid order for 4 more coins at $500 but it has jumped up.

News flash I am still going to make several thousand in this even if it takes a month
[edit by mod:  strike 1.  Please read the rules here:  http://arcadecontrols.com/arcade_message_rules.html]
« Last Edit: February 07, 2018, 06:12:30 pm by saint »

pbj

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Re: cryptocurrency
« Reply #129 on: February 06, 2018, 10:52:02 am »
 :stupid

Vigo

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Re: cryptocurrency
« Reply #130 on: February 06, 2018, 10:57:02 am »
LOL, this is no different than stock trading. Glad you could make money, but you could have done this with about any HRHR stock over the last two days.

yotsuya

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cryptocurrency
« Reply #131 on: February 06, 2018, 04:08:45 pm »
lol I made 300 last night just selling at 600 and buying at 580. I put in a bid order for 4 more coins at $500 but it has jumped up.

News flash I am still going to make several thousand in this even if it takes a month so

Should I .... when it’s at 9 or should we wait when it goes down to 4? Your call, I know how much you like it.
« Last Edit: February 07, 2018, 06:13:11 pm by saint »
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Re: cryptocurrency
« Reply #132 on: February 06, 2018, 07:01:38 pm »
Bubble?  There's no bubble here...





yotsuya

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Re: cryptocurrency
« Reply #133 on: February 06, 2018, 07:16:33 pm »
Bubble?  There's no bubble here...


Hey, get in line. No sucky cutting allowed.
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Howard_Casto

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Re: cryptocurrency
« Reply #134 on: February 07, 2018, 12:04:28 am »
I'm assuming the Dot was the point at which some shady Russian gangsters ran off with all the real money. 

Arroyo

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Re: cryptocurrency
« Reply #135 on: February 07, 2018, 08:50:52 pm »
Jeremey Grantham of GMO (considered one of the better investors out there) had this chart to show:


The two worst bubbles of all time: the Dutch tulip craze of the mid 1600 and then the South Sea company in the 1700’s.  Then there’s bitcoin.......(article put out on Jan 4th)
https://www.bloomberg.com/amp/news/articles/2018-01-04/gmo-s-grantham-joins-bitcoin-bubble-chorus-as-swings-subside

danny_galaga

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Re: cryptocurrency
« Reply #136 on: February 08, 2018, 06:42:26 am »
LOL, this is no different than stock trading. Glad you could make money, but you could have done this with about any HRHR stock over the last two days.

It's really not. Unless you are deliberately looking for junk stocks. The majority of the stock market consists of companies that help you exist. You want to hope and pray the company you work for, or rely on, or buy product from, or have your 401k invested in isn't as unpredictable as these crypto-currencies...


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Drnick

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Re: cryptocurrency
« Reply #137 on: February 13, 2018, 02:59:30 pm »
I tell you this, If the market continues with these crazy swings then when I get some money in a few months I think I'll dump a couple of Grand in there and see if I can win my way to upgrading this years holiday to first class travel and much nicer hotels than I usually go to :)  Whats the worst that can happen, "Oh yeah, no holiday this year".

shponglefan

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Re: cryptocurrency
« Reply #138 on: February 13, 2018, 06:46:34 pm »
LOL, this is no different than stock trading. Glad you could make money, but you could have done this with about any HRHR stock over the last two days.

It's really not. Unless you are deliberately looking for junk stocks. The majority of the stock market consists of companies that help you exist. You want to hope and pray the company you work for, or rely on, or buy product from, or have your 401k invested in isn't as unpredictable as these crypto-currencies...

The other big difference is stocks can pay dividends.  In fact, that's technically the 'official' reason for investing in stocks in the first place.

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Re: cryptocurrency
« Reply #139 on: February 14, 2018, 03:31:34 am »
I've been mining for quite some time now, couple years actually. Yes there WAS money to be made, but not so much now. Ever since Bitcoin took a hit last month, all the other currencies have dropped as well. You used to be able to even CPU mine and make some money, now you're just wasting electricity if you try.

As an example, here is my Dell T610 server mining BEFORE the bitcoin tank:



And, I fired it up a bit a go and let it run for a while, this is what it is pulling in now:



Nothing to be made on doing this, just LOOK AT THAT WATT USAGE!!



The GTX 1060 in my Media Center PC used to do pretty decent as well, but even that has shown a reduction:



Mining IS still profitable on my 1080 Ti's, but I'm just glad I didn't pay what they go for now.

I'd MAYBE recommend someone get into it to make a few spare bucks here and there, if you have a good GPU to do it, but I wouldn't honestly recommend someone invest money into high end GPU's.

I have 5 rigs of various configurations... so how much do I make off of them? Generally, I make enough to pay my light bill, gas bill, and most of my cable bill. But then, these cards DO get used to a certain extent in 3 out of 5 of the PC's. Only 2 are dedicated miners (now just one since I took my T610 offline because it wasn't profitable). Don't know that I'll be able to say that now with BTC and other crypto value dropping.

I'd love to do a 6 GPU rig and put it in my garage, but right now would not be a good time to do that. Prices are too high on the cards, and profitability is too low.

I think if someone wants to get into crypto, they should really forget about mining and focus on POW or "proof of work" type coins and just trade on the markets. There is a better chance of profit if you're savvy. An example of a POW coin would be something like "potcoin". I have 1250 potcoin in my crypto wallet, bought them at .09 cents and will hold. I'll probably hold till the end of the year, if it doesn't move much, I'll dump em. I don't expect high yield return, but rather moderate. Considering what I bought them at, thus far I am in the black.
« Last Edit: February 14, 2018, 03:50:19 am by Phreakwars »

pbj

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Re: cryptocurrency
« Reply #140 on: February 14, 2018, 09:53:03 am »
The people in Houston making money off bitcoin are the people selling rigs and mounting frames.  Our local news is giving them a lot of free advertising lately.

This ---steaming pile of meadow muffin--- is exactly like Amway and house flipping.... if there's so much easy money to be made why are you spending your time recruiting more people to do it...


Malenko

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Re: cryptocurrency
« Reply #141 on: February 14, 2018, 11:28:41 am »
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Phreakwars

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Re: cryptocurrency
« Reply #142 on: February 14, 2018, 01:01:58 pm »
The people in Houston making money off bitcoin are the people selling rigs and mounting frames.  Our local news is giving them a lot of free advertising lately.

By doing so, they are helping contribute to the profitability of mining go down and the level of difficulty go up. The more people you have doing it, the harder it becomes. I would guess hardly anybody mines for actual BTC bitcoin unless they have an expensive, dedicated ASIC like an S9 Antminer. I would never invest in one of those. At least with a video card, you can get some use out of it, or even resell it, with an ASIC you risk buying an expensive brick if the coin you are trying to mine becomes too difficult for even an ASIC to mine.

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Re: cryptocurrency
« Reply #143 on: February 14, 2018, 01:06:38 pm »
At least with a video card, you can get some use out of it, or even resell it

You are not going to make much money back on video cards. Budget gamers are about all that would buy those clapped out cards. Actual gamers, who those cards are directed towards initially are wise to what those cards are put through and most likely wouldn't buy one unless it was a really super good deal... and maybe for a secondary card or computer.

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Re: cryptocurrency
« Reply #144 on: February 14, 2018, 01:15:59 pm »
By doing so, they are helping contribute to the profitability of mining go down and the level of difficulty go up. The more people you have doing it, the harder it becomes.

Yes, that was exactly my point.  Thanks.   ::)

yotsuya

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Re: cryptocurrency
« Reply #145 on: February 14, 2018, 01:41:02 pm »
What can you do with those miners when you wise up? HTPC? MAME box? Plex server?
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Phreakwars

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Re: cryptocurrency
« Reply #146 on: February 14, 2018, 02:41:08 pm »
At least with a video card, you can get some use out of it, or even resell it

You are not going to make much money back on video cards.

I guess that would depend on how much you initially paid for it. If you bought it before miners started sucking the market dry, you'd make money back, if you buy one now, you are a complete idiot. And yeah, running it at 100% utilization is gonna wear down those fans. You'd wanna maybe remove the stock cooling fans and switch to a new one, or even replace it with a water pump. I choose water cooling on a couple of my rigs, but then, like I said before, they are NOT dedicated miners. I would expect the resale value should be decent provided the buyer trusts your description of having a fairly new/unused fan. Though I can't see myself personally selling mine since they do get used for gaming. Nvidia and ATI would have to release something that performs better at the same price point I bought mine at for me to consider. Right now, that is highly improbable, but for those who DON'T have a 1080Ti, it might be worth something to them to actually get one for under a grand.

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Re: cryptocurrency
« Reply #147 on: February 14, 2018, 02:47:07 pm »
What can you do with those miners when you wise up? HTPC? MAME box? Plex server?
Good question, this is exactly why I won't build a dedicated rig... or rather spend money on one. My dedicated ones were actually given to me. My Dell T610 is still quite usefull as it utilizes 2 Xeon x5675 CPU's. I could probably get $500 easy for it right now as is. It's actually a decommissioned server from a bank, and will hold... if I remember 8 (maybe it was 10) 2.5" hard drives in RAID. Before using it to mine, I was using it as a dedicated server for the house, I might just do that again... or sell it.. haven't made up my mind yet.

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Re: cryptocurrency
« Reply #148 on: February 14, 2018, 03:44:16 pm »
The people in Houston making money off bitcoin are the people selling rigs and mounting frames.  Our local news is giving them a lot of free advertising lately.

This ---steaming pile of meadow muffin--- is exactly like Amway and house flipping.... if there's so much easy money to be made why are you spending your time recruiting more people to do it...

Just like during the gold rush of the late 1800's, the only people making money were the ones selling the pans and pick axes.  You'd think people would learn from their history. 

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Re: cryptocurrency
« Reply #149 on: February 14, 2018, 07:16:55 pm »
Just like during the gold rush of the late 1800's, the only people making money were the ones selling the pans and pick axes.  You'd think people would learn from their history.
I would adjust that to say that the only people "reliably" making money were the ones selling the pans and pick axes. 
There were a lot of people making money back then, as there are now.  If there wasn't, then nobody would be wasting their time with it.

But just like gold mining (in the 1800's or even today), you really have to know what you are doing, have a fair bit of luck, and be prepared to lose your ass. 

The ones who will lose without question in this cryptocurrency situation (or in the real estate bubble, or the dot-com craze, or gold rushers, etc.) are the ones who jump in with no real understanding and no real sense with the sole intent to make a quick killing and get away clean.  This is more or less the "FOMO" crowd, the ones who see others making money and can't stand the idea of missing out on it so they dive in thinking if their buddy/neighbor/coworker can make money, so can they.

Others who are making money on this are the "you tubers", the ones who are using social media to drive sales toward currencies they have a stake in to manipulate the market (or to grow their online presence purely for marketing power).  Anyone who makes a crazy video predicting a massive jump or drop in crypto currencies will get attention if they turn out to be right.  They make a bold prediction video for one way, then another for the opposite way, then delete the one that is wrong.  Do that a few times and rack up some views and suddenly that FOMO crowd watches those videos and sees a guy who is always right, and invests based on it.

I learned an interesting tactic for scammers with email.  Send out a million emails, half telling people to invest one way, half telling them to invest the opposite way.  Whichever way works, you ONLY email the next bold predictions to that half.  And whichever is wrong, you cut that half out of your email group.  Do it again, and again, and again, and soon you have a list of a few thousand people who have received several emails from you where you predicted the market 100% correctly.  Now hit those people up for an investment opportunity.  As far as they see it, you are a genius who is always right.

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Re: cryptocurrency
« Reply #150 on: February 14, 2018, 07:22:18 pm »
What can you do with those miners when you wise up? HTPC? MAME box? Plex server?
If you made a rig with 8 GPU's, the best you can do is sell it to some sucker, split the cards up into 8 gaming computers, or take the loss.  None of those other options are ideal for that kind of a rig.

If you built a regular PC with a couple monster GPU's, then sure, make it a gaming rig, a decent Plex server, or if the cards, cpu, and motherboard are new enough, a 4k HTPC.

If you have a currently high end GPU for gaming, you can make money mining.  It isn't much, but a couple dollars a day (after paying for your electric bill) is still income.  Beats digging in trash cans for coke caps.

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Re: cryptocurrency
« Reply #151 on: February 15, 2018, 06:31:28 am »
The people in Houston making money off bitcoin are the people selling rigs and mounting frames.  Our local news is giving them a lot of free advertising lately.

This ---steaming pile of meadow muffin--- is exactly like Amway and house flipping.... if there's so much easy money to be made why are you spending your time recruiting more people to do it...

Just like during the gold rush of the late 1800's, the only people making money were the ones selling the pans and pick axes.  You'd think people would learn from their history.

The smart ones have learnt their history  ;D


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Re: cryptocurrency
« Reply #152 on: February 17, 2018, 01:02:52 pm »
I got paid with some bitcoin for doing some years ago. pretty sure its worth couple of grand even after the crash. I will leave it in there and see where it goes lol..

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Re: cryptocurrency
« Reply #153 on: August 15, 2018, 06:58:29 pm »
***Build what you dig, bro. Build what you dig.***

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Re: cryptocurrency
« Reply #154 on: August 16, 2018, 01:57:27 pm »
Should've known Ethereum would go to ---steaming pile of meadow muffin--- when that charlatan Elon Musk started shilling it.

yotsuya

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Re: cryptocurrency
« Reply #155 on: August 16, 2018, 04:03:39 pm »
I just posted this because I liked the headline’s use of “shitcoin”.
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Re: cryptocurrency
« Reply #156 on: August 16, 2018, 04:48:38 pm »
Tons of people are finally closing down their mining rigs, maybe the price of video cards will finally become reasonable again. NiceHash had like a 28% drop in farmers
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Re: cryptocurrency
« Reply #157 on: August 16, 2018, 05:21:00 pm »
i'm still rocking a 750ti because the price of a "$300 card" was $700 and change range in my neck of the woods.

it has come down a bit... 300 at least gets you out of the disgusting low profile cards into 1060 territory... but still... if it wasn't all jacked up, you'd be able to get a 1070ti for 300 instead of $700

for shits and giggles, the asus 1080ti is currently sitting at $1230+tax (same card is 800 in usa)

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Re: cryptocurrency
« Reply #158 on: August 16, 2018, 05:27:09 pm »
I should sell one of my 1080ftw2 cards
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Re: cryptocurrency
« Reply #159 on: August 17, 2018, 01:28:02 am »
Yeah my main pc is old as hell at this point, mainly because it isn't financially reasonable to game on the pc anymore.... at least not high-end gaming. 


I need to start looking soon though.... It's getting long in the tooth for everyday tasks. 

  
 

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