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13th May 2021, 16:34 | #721 |
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Not much, for a long time yet. We're still at the bottom.
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Stay shook. No sook. |
13th May 2021, 17:19 | #722 | |
HENCE WHY FOREVER ALONE
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Finger rolling rhythm, ride the horse one hand... |
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14th May 2021, 12:13 | #723 | |
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Vitalik Buterin Donates Over $1 Billion To India Covid Relief Fund And Other Charities
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Stay shook. No sook. |
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14th May 2021, 19:13 | #724 |
A mariachi ogre snorkel
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Vitalik is all out of fucks!
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16th May 2021, 12:51 | #725 | |
HENCE WHY FOREVER ALONE
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The only thing you've lost is the respect of those around you. Greedy pervert!
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Finger rolling rhythm, ride the horse one hand... |
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16th May 2021, 15:34 | #726 |
A mariachi ogre snorkel
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We need a protocol that will facilitate easier transactions between this new generation of DeFI tokens.
CUMSWAP. "if this doesn't make you want to go all-in, then I can't help ya" |
16th May 2021, 17:04 | #727 | |
Architeuthis
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17th May 2021, 06:37 | #728 |
HENCE WHY FOREVER ALONE
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I'm out too
I haven't sold 100%, but I've cashed out my initial solar outlay with BTC. What I have left has cost me nothing, and now I can say my solar setup paid for itself in 3 years. I get to spend the money again I guess.
This whole crypto space is mental, and from a technology perspective, I don't see much difference between a unit of BTC, vs a unit of BCH, vs a unit of DOGE, ETH, XRP, etc. Why they have wildly different dollar values is purely speculation. They all cause numbers to change in your wallet, and that's all that really matters if people are going to spend and earn them as currency. Which one is "best" has become yet another division between people - rather than just having Bitcoin and agreeing to get rid of banks. NFTs are ridiculous, the distribution of "wealth" to early crypto adopters is fundamentally a pyramid scheme where the earlier you got in the more you have, and I don't think BTC will become the world reserve currency when there are 4000 other clones that effectively do the same thing, and the coins are mostly mined and owned by a few nerds rather than distributed widely. If anything, I predict there will be a fresh standardized blockchain digital currency that is regulated and created/controlled by international agreement - ideally a ledger of gold - the "real" money. The only people who believe otherwise are just hoping they will be the new millionaire class and it's kind of embarrassing. I see the articles about "crypto millionaires, still not selling" and it's like being a Sims millionaire. Similarly, dying with a million dollars that you saved and never spent brings the same joy as never having a million dollars in the first place.
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Finger rolling rhythm, ride the horse one hand... |
17th May 2021, 10:47 | #729 |
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Its probably the worst time ever, but I was thinking of withdrawing enough to build a rig.
May take a little more to buy the kids a Nintendo or PS. And then contemplate if I withdraw some now that would go towards a small holiday. |
17th May 2021, 10:48 | #730 |
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But definitely none of this retiring stuff that Nich is talking about /Jealousy
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17th May 2021, 11:39 | #731 | |
HENCE WHY FOREVER ALONE
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Take a holiday, get a console, but don't buy overpriced GPUs to trickle mine based on overvalued funny money. That ship has sailed. Free advice, take it or leave it. Personally, I moved the bulk of my remainder into PoS coins, and they've held up well, but only because everyone else has too. They're overvalued and I'll probably exit those shortly as well, for reasons stated above. I'm feeling relief rather than regret.
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Finger rolling rhythm, ride the horse one hand... |
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17th May 2021, 12:44 | #732 |
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There are things that I will have likely not thought of, so any comments are appreciated.
Question. Does the amount of coin mined change based on the current coin value (lets assume the transaction volume & number of miners stayed the same)? If ETH was worth $5k or $1k, would you still mine the same number of coin? |
17th May 2021, 13:41 | #733 | |
HENCE WHY FOREVER ALONE
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Explanation: If your assumption held, then you would, but market dynamics dictate that as a coin becomes more profitable, more miners mine it, the difficulty adjusts, and the shared rewards of pool mining shrink and you get less coin. You do end up with a bit more $ value generally speaking, but it's not a simple constant or linear relationship - there's lot of chance involved as well as how everyone else behaves - things outside your control. The real gain is from mining while ETH is worth $1k, and having it go up to $5k. But since we're potentially at local maximums/ATHs, it could be a while before it's a Great Idea. I was mining with NiceHash, so while I would mine ETH, I was getting paid in BTC, so for instance last week it looked like this for about an hour: If people speculate that ETH is going to go up, they'll pay more BTC for the hashpower to mine ETH. My payout increases, even though the price of ETH and number of miners might be constant. I never really kept track of how much ETH I was mining, I always thought in sats or just NZD.https://whattomine.com is a good site to check expected values, but make sure you put in an overrated power cost because they just use the GPU power, but a computer uses extra power just to run it. A 65W TDP CPU with a GPU limited to 80W will still use ~130W at the wall. Here's my last week's pay rate in a graph: The spike is a glitch, but you can see it went high on the 11th, with a few people paying high amounts for hashpower, and slowly dropped again from the 14th. I didn't change anything - the cards remained constant - that's just the nature of mining. The last bit is me deciding "fuck this" and just dropping to two cards by my feet as a ~250W heater instead of ~1kW 24/7.
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Finger rolling rhythm, ride the horse one hand... |
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17th May 2021, 13:44 | #734 |
HENCE WHY FOREVER ALONE
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If you've already got a GPU with 6GB+ RAM, you can start mining now and see if you think it's worth it before you buy something dedicated to the cause.
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Finger rolling rhythm, ride the horse one hand... |
17th May 2021, 16:28 | #735 | |
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Mine & sell Mine & hold But then that relates the same as if you Buy & sell Buy & Hold. If you hold then you are better to use the money now to buy a rig. If it calculated as a 6 month ROI, then no matter what the price does you effective have an ROI of 6 months. The only thing that will change that time frame is the amount you mine. If it drops, it will take longer, if it goes up, it will be quicker. But the time it takes will not change. (more difficult mining/more players in the market would change it, but that should be somewhat factored into the initial ROI. --- If you buy and sell, then yes it would not be ideal. If the price skyrockets, then you don't have the ability to cash out that initial investment. But if it takes 3 months to skyrocket, then you have effectively earned 50% back that you could sell. If it plummets, then you aren't as bad off, as withdrew that initial investment at a high price. |
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17th May 2021, 19:25 | #736 | |
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17th May 2021, 19:43 | #737 | |
HENCE WHY FOREVER ALONE
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I was going to buy a computer at newegg.com about 3 months ago, but the wallet I was using failed to recognise the receiving address after I placed the order and it lapsed - I have since transferred the balance into a wallet that wasn't from 2014. Newegg accepts crypto. I've sent money overseas, both via Ab who passed the $ on to my friend, and to a Russian skank's throwaway address that bought weed with it in exchange for being nasty on Skype [being honest here]. And today I appear to have just bought a whole lot of NZD, so I guess that counts. You could say in a roundabout way I bought solar panels for my house, a few computers, and some bonus cash. If you're doubting that it's "real", it's real. Yes, it's volatile, but don't doubt that there is a small portion of the world that accepts it. Easycrypto.ai hooked me up to sell it, they're really good if anyone wants to cash out into "real" money. I know people who buy pills on the dark web, but I hate going to court, so I don't do that.
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Finger rolling rhythm, ride the horse one hand... |
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19th May 2021, 16:16 | #738 |
A mariachi ogre snorkel
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Blood in the streets this past 72hrs. A lot of big coins down 25-30%.
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19th May 2021, 18:03 | #739 |
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Rolling back the tape to pre-Elon, and starting over without him.
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but what would I know? |
19th May 2021, 18:49 | #740 |
Architeuthis
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Many of the big exchanges have thin actual USD liquidity and are mostly running on monopoly money UDST. If this dip continues we may see them start to go down for 'unscheduled maintenance'. I've noticed some huge BTC transfers onto Binance in the last couple of days, which could get very interesting. Keep an eye on the USDT peg for signs of slippage.
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19th May 2021, 21:54 | #741 |
A mariachi ogre snorkel
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Oh man, someone at Blockfi gonna get fired tomorrow.
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19th May 2021, 22:06 | #742 |
A mariachi ogre snorkel
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19th May 2021, 23:03 | #743 |
Architeuthis
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Hmm.. would I have done the right thing and sent back 700 life-changing BTC mistakenly sent to me by some crypto trading platform.. thinking..
No. |
20th May 2021, 00:43 | #744 | |
A mariachi ogre snorkel
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20th May 2021, 02:38 | #745 |
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$1 Trillion nuked from total crypto market within a week.
Impressive! https://www.youtube.com/watch?v=Op-cwZB_79U
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but what would I know? |
20th May 2021, 03:40 | #746 |
A mariachi ogre snorkel
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Man, did you cash out with perfect timing. Godlike.
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20th May 2021, 10:38 | #747 |
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I've been cashing out slowly (DCA in, DCA out) so not out yet.
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but what would I know? |
20th May 2021, 12:41 | #748 | |
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Lol. No you didn't, you know they fucked up. |
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22nd May 2021, 12:59 | #749 |
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they busting out the big guns now, none other than the foremost authority on innovative technology: Pope Francis
Will you survive / thrive through the 2021 fuddening?
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but what would I know? |
22nd May 2021, 20:06 | #750 |
A mariachi ogre snorkel
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Be honest Jonas, are you tempted to buy back in? bargains to be had this week.
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22nd May 2021, 21:03 | #751 |
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Hell yes! Especially got my eye on some DeFi tokens. But my ideal is I sell up to and past the toppity top (that wasn't the top), and sit in stable coins (not USDT) until the dead of the next crypto winter. I'm in selling mode now, but I sure as hell am not selling during these times.
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but what would I know? |
22nd May 2021, 21:09 | #752 |
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Having said that, any coin that isn't Bitcoin is about to get dominated. Unless flippening, which by god it might happen!
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but what would I know? |
23rd May 2021, 16:45 | #753 |
Architeuthis
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23rd May 2021, 18:23 | #754 |
HENCE WHY FOREVER ALONE
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Not gonna lie, I've been checking ETH price in consideration of Nich since I bailed on BTC.
Honestly, if your stash is worth a significant amount (ie, you can do something useful with the amount and it represents a large portion of your savings), then I'd be trying to get as much as I can out. I already feel your pain, I'd hate for it to go even lower. If it's just play money to you, sure, hang in there. I'm not saying that to try and burn you - I honestly don't think it's coming back anytime soon. It's irrational to say you're "not selling at these prices" considering the stupid gains we've just had, unless you've been buying up large all the way to the top. I don't know what it owes you, but if you're in the black still, particularly if you've done OK, I'd take it out quick smart and reflect on what sort of game you've been playing. To put my money where my mouth is, I just sold 1ETH. I only had 1.1 ETH in my wallet, but I'm practicing what I preach.
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Finger rolling rhythm, ride the horse one hand... |
23rd May 2021, 23:48 | #755 |
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Both BTC & ETH are higher than they were 5 months ago.
Yes, if you were buying it this year, it will be hurting. I think it will take another month to really find out what is going to happen. Sure it may take a while to get back to those ATHs, but once the dust settles for the past couple of weeks, then we will see. If it does keep going down, then I will see you guys in 3 years time when we get to go through this again. |
24th May 2021, 00:17 | #756 |
HENCE WHY FOREVER ALONE
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The stimulus checks also came out 5 months ago, and every idiot on the internet was picking team DOGE, BTC or ETH and shilling their own coin with their free money, with everyone certain they could double or 10x their money. That's not how a pyramid scheme works. Some people win, many lose. Bitcoin/crypto values are based on someone else buying them from you. There is no product or service except money flow. And when money doesn't flow in, and everyone cashes out... you've got your "wallet" etched in the blockchain forever as the last one holding the bag.
https://en.wikipedia.org/wiki/Disposition_effect - where you don't want to hang on to a stock that's dropped in value, hoping it returns. If you're hoping for even more free money, be happy with what you've got. It's a sucker trap IMHO. Only leave in there what you would be happy to lose if you drop your wallet. Ethereum is slightly different, but I think with its uncapped supply, when the mining is no longer required (PoS instead of PoW), then the value of one ETH won't be based on hashrate ie electricity cost, so there's no reason for it to be so high. Make your own decisions, of course, but I would not recommend to anyone I care about that they put in more than $20 every now and then, and if you're holding large sums, get your money before someone else takes your share and the price drops further. Treat it like a casino, not a real business.
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Finger rolling rhythm, ride the horse one hand... |
24th May 2021, 00:30 | #757 |
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yes, yes! let the fear consume you.
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but what would I know? |
24th May 2021, 00:34 | #758 |
HENCE WHY FOREVER ALONE
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Trade with logic, not emotions and hope. Good luck bro.
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Finger rolling rhythm, ride the horse one hand... |
24th May 2021, 11:17 | #759 |
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I'd put it as: Trade not out of necessity.
I've stuck to my plan and won't change it because some new tourists have old thoughts.
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but what would I know? |
24th May 2021, 11:41 | #760 |
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but what would I know? |