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Old 25th January 2021, 13:36     #441
crocos
 
Does anyone here actually mine, or just trade? If so do you ASIC or use a PC?

Just curious - I've been regretting not getting into mining when I first found out about it freaking years ago, now wondering if getting into mining is worth it or better just trading.
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Last edited by crocos : 25th January 2021 at 13:38.
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Old 25th January 2021, 13:42     #442
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Nich
ETH ATH incoming...
ding ding ding
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Old 25th January 2021, 14:05     #443
Ab
A mariachi ogre snorkel
 
HEY BITCOIN

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Old 25th January 2021, 19:15     #444
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Lightspeed
I wonder.

I see what you're saying. We have the current set of "early adopters", largely just people buying in. Leveraging the platforms beyond currency handling is nearly non-existent. However this white, male, monied crowd in the best position to buy in are going to be stymied by traditional systems they're already bought into.

On the flip-side the bulk of people do not enjoy the benefits of robust, transparent, corruption free financial and legal systems. They will have strong incentive to develop and use these new systems. And there is so much untapped potential to be unleashed. I'm anticipating developing nations leap frogging past Western institutions.
Today:

https://techcrunch.com/2021/01/24/ho...aching-crypto/

Quote:
How emerging markets are approaching crypto

From Brazil to Nigeria, people turn to Bitcoin for different reasons than most of their speculating counterparts in North America. Namely, because it’s the most advantageous way for them to conduct international transactions.

Such is the case with a 28-year-old poker player in Brazil who simply goes by Felipe, for safety. Poker is a legal form of gambling in Brazil, so Felipe can use Brazilian banks and regulated exchanges to earn income from home. He dropped out of law school because playing poker against foreigners with Bitcoin to spend was more profitable than becoming a partner at a local law firm. Felipe said he now outearns his brother, a middle-tier executive at one of Brazil’s top corporations.

“Bitcoin is the best medium of money exchange in the poker community,” Felipe said. “I withdraw earnings as Bitcoin, or as Tether, to a Brazilian crypto exchange and sell it there.”

Felipe said he is wary of his government because he believes the Brazilian economy will experience a catastrophic shock in the next few years. Back in 1992, President Fernando Collor de Mello was impeached after confiscating millions of civilian savings accounts to offset national debts. Felipe doesn’t want his bank account forcibly emptied when the next crisis hits. This inspires him to accumulate Bitcoin, avoiding more traditional options stocks.
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Old 25th January 2021, 19:42     #445
Ajax
Architeuthis
 
^ Great plan, Felipe. He’ll find himself selling trinkets along Copacabana beach when the market collapses.
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Old 26th January 2021, 02:40     #446
DrTiTus
HENCE WHY FOREVER ALONE
 
Quote:
Originally Posted by crocos
Does anyone here actually mine, or just trade? If so do you ASIC or use a PC?

Just curious - I've been regretting not getting into mining when I first found out about it freaking years ago, now wondering if getting into mining is worth it or better just trading.
I mine with Nicehash these days, but had an ASIC years ago (Block Erupter). I regret not having the foresight to realise that "breaking even" back then would have meant large profits today, and some of the BTC I did mine, I converted into gold with goldmoney.com which then implemented fixed rate storage fees and ate away my balance

With Nicehash you mine whatever algorithm your card does best, you get paid in Bitcoin based on people renting your computational power. Everything is automated. It's not immediately profitable if you go out and buy all the equipment, and then pay for electricity. It can be profitable if the price of Bitcoin multiplies (as it has since I started mining). You can easily download Nicehash and see what your current card produces. Recent cards can generate roughly $3USD a day, and probably cost that to run them, so you're effectively just buying BTC very slowly. If its an old card, it'll be much less and not worth it at all.

I'd say you're better off just buying and HODLing, or trading if you're seeking short term gains (or losses, as the case may be).
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Old 26th January 2021, 21:34     #447
Ajax
Architeuthis
 
Offtopic but epic GameStop short squeeze is truly fucking epic. Can’t wait to see how it pans out.
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Old 26th January 2021, 22:36     #448
Know me.
 
One of my kids was talking about it last week. He explained that he had got some stock tips on Reddit, I told him it sounded like a pump and dump scheme and he should stay well away. He didn't listen to me. Got in at 40 and out at 150 last night...

Apparently there are still a lot of shorts so it could go even higher again tonight. I think it will all end in tears for the bulls eventually but sounds like a lot of fun.
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Old 26th January 2021, 22:51     #449
Ajax
Architeuthis
 
An XXL hedge fund called Melvin Capital took a giant short position and is now scrambling to stay afloat, having lost a couple of billion dollars. Kind of funny to think a bunch of reddit lollers were the cause.
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Old Yesterday, 10:32     #450
Ajax
Architeuthis
 
The GameStop lols just continued today. Good roundup of the situation here for those interested.
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Old Yesterday, 12:33     #451
Cyberbob
 
It's amazing stuff. I've been following it for a while now. Kinda sad I don't have the means to be a part of it. Looks incredible.

Reached beyond $200 after hours today after Elon Musk tweeted.

Melvin is going down, as there's more shorted than what is in circulation.

A lot of retail investors are going to get rich.

long story short: Melvin and other hedge funds borrow the stock, sell it, then wait for the price to drop to buy it back then return the stock to the owner. If the price goes up during that time, they're forced to buy it back for more than what they sold it for. Which is happening in the billions.
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Last edited by Cyberbob : Yesterday at 12:37.
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Old Yesterday, 14:02     #452
Ab
A mariachi ogre snorkel
 
OMG that's beautiful.

edit: I guess that's why the crypto markets are so sluggish today, all the disposable cash in the world is going to GME right now.
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