BITCOIN

[mysticsvt]

Have a couple friends coming over sat for dinner, married couple. Going to gift them 100.00 and set them up with a coinbase account. I’ll put 50.00 in Bitcoin and 50.00 in Etherium. If they further invest great if not I think it’ll be a nice investment in 10-20 years. Either way, it’s a free 100.00.

 

[quad]

Have a couple friends coming over sat for dinner, married couple. Going to gift them 100.00 and set them up with a coinbase account. I’ll put 50.00 in Bitcoin and 50.00 in Etherium. If they further invest great if not I think it’ll be a nice investment in 10-20 years. Either way, it’s a free 100.00.

You will have to provide their drivers license and other personal info so they will comply with KYC (Know Your Customer).

I have done this with Coinbase and recently also with binance.us. I even had to give the bastards my SSN!

I don't mind it though. If you ever lose your password they can probably give you access after confirming your identity. That's better than someone being locked out of their Bitcoin wallet because they forgot the key or wallet address!

Also say a spouse dies. The surviving family members would not be locked out of a crypto portfolio.

 

[quad]

The Bit Short: Inside Crypto’s Doomsday Machine

 

[quad]

 

[mysticsvt]

Black Coffee No Sugar No Cream!

 

[q6543]

I saved 1 of his videos earlier this year, COKE'd out of his Fn skull... I could taste the drip just watching.

 

[mysticsvt]

Anyone else watching Chain? Got 500 in that one, doing well at all time high and going.

 

[Rb0891]

Anyone else watching Chain? Got 500 in that one, doing well at all time high and going.

I am. Have 1k in - I was late, but it is looking pretty good right now.

 

[Rb0891]

Anyone else watching Chain? Got 500 in that one, doing well at all time high and going.

You holding your stuff medium term or do you trade weekly? I just got in to this a few weeks ago.

 

[venmos1]

I'm a small timer. I have 1k in eth and 200 in btc. Would I be better off all in eth or all in btc? They both seem to be on the same profit / loss trends. I was hoping one would out pace the other so I could get some gains then trade to the other to max profits.

 

[Rb0891]

I'm a small timer. I have 1k in eth and 200 in btc. Would I be better off all in eth or all in btc? They both seem to be on the same profit / loss trends. I was hoping one would out pace the other so I could get some gains then trade to the other to max profits.

I am about the same ratio as you with some other alt thrown in. I keep think eth will outpace btc, but I am not sure I know anything. Lol

 

[venmos1]

I am about the same ratio as you with some other alt thrown in. I keep think eth will outpace btc, but I am not sure I know anything. Lol

That's my thoughts as well. I do have some ada but I'm sitting on that. If anything I'll buy more. I felt that the consensus I was reading or hearing was saying eth was going to multiply more, so I went more there. Not to say btc won't, just seemed to be a better faster growth. Now....I have no idea.

 

[mysticsvt]

Holy Smokes.....glad I threw some into this early!

 

[Rb0891]

Holy Smokes.....glad I threw some into this early! View attachment 1685148

The one I was watching but never did... lmao

 

[98SVTContour98]

this fractal was made when the price of ETH was $233 (July 2020)...pretty dang accurate so far...I'm not sure I'm prepared for ETH to hit the high target tho

 

[Rb0891]

this fractal was made when the price of ETH was $233 (July 2020)...pretty dang accurate so far...I'm not sure I'm prepared for ETH to hit the high target tho

View attachment 1686835

Feel like I can't buy enough...

 

[quad]

this fractal was made when the price of ETH was $233 (July 2020)...pretty dang accurate so far...I'm not sure I'm prepared for ETH to hit the high target tho

View attachment 1686835

ETH just smashed $1540 on coinmarketcap! Many people think it is going to double soon. Historically Ethereum has been behind Bitcoin a few weeks. And since it is younger than Bitcoin it is a few market cycles behind. I personally think Ethereum has huge potential. They do need to cap the circulation supply though.

Just want to warn everyone that cryptocurrencies are a risk (just like stocks) and you should be prepared to lose everything.

 

[quad]

Bitboy Crypto is always super bullish on Ethereum. He reckons it could go to $100,000! I will lol if this ever happened. At peak my rigs were mining 1 ETH per week! I am currently getting 1 Ethereum at a discounted rate of about $300 via mining payouts vs trying to buy it for $1500 in cash on Coinbase.

 

[venmos1]

Bitboy Crypto is always super bullish on Ethereum. He reckons it could go to $100,000! I will lol if this ever happened. At peak my rigs were mining 1 ETH per week! I am currently getting 1 Ethereum at a discounted rate of about $300 via mining payouts vs trying to buy it for $1500 in cash on Coinbase.

I'm sure you have plenty now. I'll give you $1000 for 2 eth? Lol

 

[quad]

I'm sure you have plenty now. I'll give you $1000 for 2 eth? Lol

I am not yet a crypto millionaire lol! In hindsight I would have built a kickass Bitcoin mining setup back in 2009 and the early days of Ethereum. I am not the only one kicking themselves for not seeing the potential. Even Elon Musk has admitted that he missed the boat on this one. So we are in good company. It is easy to see all this in hindsight but not when you are in the present.

I need to review all my expenses. I spent about $16,000 on graphics cards. Add another $1,750 for the RTC 3090, $750 for a 1080 ti and $400 for my wife's 1070 so close to $19,000. I have not even tallied up all the power supplies, cpus, motherboards, cases, fans, battery backup and miscellaneous equipment. Electrical could be close to $15,000. I also bought some cryptos for $12,500 cash back in late 2017. So I am going to guess I have spent a little over $50,000 on this crypto venture. Add in all the labor to build the rigs, install the software, maintenance etc. and it took one hell of an effort to obtain the cryptos I have.

It all would have been so much easier a decade ago. This is one reason why the prices are now so high. It takes a lot of energy and money to acquire these assets now. Billionaires are now willing to buy 1 Bitcoin at $30-40k! Back in 2010 it did not take as much effort hence why Bitcoin was so cheap. One laptop could mine 50 Bitcoins per day. Now you need an entire factory full of equipment and I don't think it could even match that yield. Unless it is a huge mining farm using a ton of electricity.

So far it has been profitable but there will be another correction coming. The question is when. Some are expecting around September. So this time around I would be selling some ETH if it appreciated more by then. Then hopefully there will be an opportunity to buy more at the bottom.

If you have a spare GPU lying around you could still mine Ethereum - if it is a modern GPU with at least 6GB RAM. I have my miners pointing to my ETH address on Coinbase. So my payout go directly to my Coinbase account on a weekly basis. I just paid an electrical / gas bill of $924. However some of the cost in the bill is related to non-mining equipment. I compare the mining bills with pre-mining bills to gauge how much of an increase occurred. And DTE jacked up our prices to pay for gas line upgrades. I might talk to neighbors to see how much their bills are. I did not install a separate meter for the mining equipment because it is spread throughout the house. I could also use the total watt usage as a reference to calculate the actual electrical costs.