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Posted: 12/17/2020 12:08:27 PM EDT
[Last Edit: felrom]
[#1]
Quote HistoryOriginally Posted By Layer60: I bought Ethereum and Litecoin and have doubled that value in 60 days. Just saying... Remember that windfalls shouldn't change your financial plans, only accelerate them. If anyone takes a big chunk of profits in the next few months, don't be dumb and blow it; instead get closer to your goals. Now back to ridiculous memes and jokes....  A compilation of everyone who thought Bitcoin was worthless |
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Posted: 12/17/2020 12:09:49 PM EDT
[#2]
Quote HistoryOriginally Posted By felrom: Reminded me of something important, really... Remember that windfalls shouldn't change your financial plans, only accelerate them. If anyone takes a big chunk of profits in the next few months, don't be dumb and blow it; instead get closer to your goals. Now back to ridiculous memes and jokes....  https://www.youtube.com/watch?v=5Wbk4MR-gDAI agree completely. |
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Posted: 12/17/2020 12:12:14 PM EDT
[#3]
I can't wait till a day before Christmas Eve the bottom falls out, again.
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Posted: 12/17/2020 12:13:08 PM EDT
[#4]
Someone call Elon cause we're headed to the fuckin moon
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Posted: 12/17/2020 12:16:54 PM EDT
[#5]
Quote HistoryOriginally Posted By AgeOne: I can't wait till a day before Christmas Eve the bottom falls out, again. Why? |
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Posted: 12/17/2020 12:17:50 PM EDT
[#6]
As someone who's ridden through every high and low since 2010, in my opinion (and trading strategy), this has just barely begun. There's never been a time bitcoin has broken the ATH without at least going up 5x. Things might be different now with the amounts of institutional money involved, but I feel like 2x is still very achievable.
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PA, USA
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Posted: 12/17/2020 12:20:06 PM EDT
[#7]
Quote HistoryOriginally Posted By Layer60: Why? Either to accumulate more, or jealousy. |
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IL, USA
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Posted: 12/17/2020 12:26:57 PM EDT
[#8]
Quote HistoryOriginally Posted By mb300sd: As someone who's ridden through every high and low since 2010, in my opinion (and trading strategy), this has just barely begun. There's never been a time bitcoin has broken the ATH without at least going up 5x. Things might be different now with the amounts of institutional money involved, but I feel like 2x is still very achievable. Agreed. We're once again in uncharted territory, this time driven by institutional money, so smart money. At some point sovereign wealth funds will get involved, and retail investors will eventually pile back in, most likely right at the next top. I expect to see 100k next year. |
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Posted: 12/17/2020 12:35:52 PM EDT
[#9]
Quote HistoryOriginally Posted By Layer60: Why? It would be consistent with the last time this happened. might wanna be diligent around this time frame. |
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Posted: 12/17/2020 12:57:12 PM EDT
[#10]
Quote HistoryOriginally Posted By Mr_Psmith: Great answer. And for completeness: 21 million BTC will not be achieved until the year 2140 The miner "reward" halves every so many years; currently the block reward is 6.25 BTC, which is "mined" approximately every 10 minutes. This is approx US$113,293 at current market price 1 / 100,000,000 of a bitcoin is called a Satoshi. References https://www.bitcoinblockhalf.com/ https://en.bitcoin.it/wiki/Help:FAQ That can’t be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. |
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CO, USA
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Posted: 12/17/2020 1:01:35 PM EDT
[#11]
Quote HistoryOriginally Posted By Hamiltbl2: That can't be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. Quote HistoryOriginally Posted By Hamiltbl2: Originally Posted By Mr_Psmith: Great answer. And for completeness: 21 million BTC will not be achieved until the year 2140 The miner "reward" halves every so many years; currently the block reward is 6.25 BTC, which is "mined" approximately every 10 minutes. This is approx US$113,293 at current market price 1 / 100,000,000 of a bitcoin is called a Satoshi. References https://www.bitcoinblockhalf.com/ https://en.bitcoin.it/wiki/Help:FAQ That can't be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. It is real, but the reward is only hit by one computer during that time frame, so to have the best chances of hitting it you have to have lots and lots of processing power these days. There are giant complexes in china just mining bitcoin. They are doing it all day everyday. |
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Posted: 12/17/2020 1:04:17 PM EDT
[#12]
Quote HistoryOriginally Posted By Hamiltbl2: That can’t be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. You're fighting with every other person mining for a small share of that $600k. I used to be a pretty big miner and quit after the like 5th generation of my equipment went obsolete. Was projecting that I would barely make the cost of upgraded miners back. |
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Posted: 12/17/2020 1:09:47 PM EDT
[#13]
Quote HistoryOriginally Posted By Hamiltbl2: That can't be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. |
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Posted: 12/17/2020 1:51:50 PM EDT
[#14]
Quote HistoryOriginally Posted By Hamiltbl2: That can’t be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. Quote HistoryOriginally Posted By Hamiltbl2: Originally Posted By Mr_Psmith: Great answer. And for completeness: 21 million BTC will not be achieved until the year 2140 The miner "reward" halves every so many years; currently the block reward is 6.25 BTC, which is "mined" approximately every 10 minutes. This is approx US$113,293 at current market price 1 / 100,000,000 of a bitcoin is called a Satoshi. References https://www.bitcoinblockhalf.com/ https://en.bitcoin.it/wiki/Help:FAQ That can’t be real. If it was possible to make over $600k/hour mining coins everyone would be doing it. All day everyday. $600k/hour is the TOTAL pie for the entire mining network. There's thousands if not hundreds of thousands of people nibbling at that pie. The pie only gets bigger if bitcoin price goes up. The slices get smaller as more people try to mine. It also costs hardware and electricity to mine. Making money mining bitcoin is only possible if you have cheap or free electricity and the best hardware. People describe it as an arms race and that's a very accurate way to describe it. I don't think amateur bitcoin miners have a chance these days. |
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Posted: 12/17/2020 1:53:38 PM EDT
[#15]
Quote HistoryOriginally Posted By woodsie: $600k/hour is the TOTAL pie for the entire mining network. There's thousands if not hundreds of thousands of people nibbling at that pie. The pie only gets bigger if bitcoin price goes up. The slices get smaller as more people try to mine. It also costs hardware and electricity to mine. Making money mining bitcoin is only possible if you have cheap or free electricity and the best hardware. People describe it as an arms race and that's a very accurate way to describe it. I don't think amateur bitcoin miners have a chance these days. |
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Posted: 12/18/2020 10:19:18 AM EDT
[#16]
Taking a breather today, or onwards to the moon?
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Posted: 12/18/2020 10:25:10 AM EDT
[#17]
Quote HistoryOriginally Posted By felrom:Taking a breather today, or onwards to the moon? No idea, but I'm not selling. |
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Posted: 12/18/2020 10:25:30 AM EDT
[#18]
22,613.74 right now -2.03 for the day.
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Posted: 12/18/2020 10:28:01 AM EDT
[#19]
Quote HistoryOriginally Posted By felrom: Taking a breather today, or onwards to the moon? You best be ready for breathers because even the stunning bubble in 2017 had lots of month long breathers along the way. If this is the start of next bubble, which I think it probably is, it's not going to happen overnight.  Attached File Tom Petty And The Heartbreakers - The Waiting (Official Music Video) |
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Posted: 12/18/2020 10:34:13 AM EDT
[#20]
I looked through my transaction history the other night.
In Nov 2013, I bought .5 BTC for $365.13. At one time, I had a total of like 6, essentially just gambling on it. I've bought and sold over the past few years, a little here, a little there. I sure as hell wish I had those 6. I currently have about .22 BTC. A couple months ago, it was worth a it less than it is now. I'm going to hang on to it. |
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Posted: 12/18/2020 10:34:25 AM EDT
[#21]
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Posted: 12/19/2020 1:13:36 PM EDT
[#22]
24k
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Posted: 12/19/2020 1:16:25 PM EDT
[Last Edit: Thorazine]
[#23]
Quote HistoryOriginally Posted By Layer60: Why? Quote HistoryOriginally Posted By Layer60: Originally Posted By AgeOne: I can't wait till a day before Christmas Eve the bottom falls out, again. Why? Winklevoss twins want to gobble up more btc at 3-4k per coin and so do I. |
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Posted: 12/19/2020 1:21:15 PM EDT
[#24]
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Posted: 12/19/2020 1:23:01 PM EDT
[#25]
Quote HistoryOriginally Posted By CBags04: Not BTC per-se, but you can still mine alts and make money with commonly available hardware. Except the commonly available hardware is not really commonly available. Every GPU is getting scooped up if it's selling for a normal-ish price and the rest of them seem to be listed for insane prices on eBay and Amazon. I have been looking for a Red Devil 5700XT for about a month now and it's either the price is astronomical ($900 in some cases) or you can't get the thing into your cart and start the checkout process fast enough. I finally buckled and paid a little bit over normal price for one. My justification was I'm missing out on potential income by not having it and I would likely miss out on the price difference if I kept waiting. Now I am in the position where I need to decide if I want to cash out some of my coins to pay for another rig or if I want to sit on them and not expand. I'm leaning towards adding more rigs right now but I can't find GPUs that are reasonably priced. I expect them to stay hard to get for a few weeks after Christmas, maybe longer. |
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OH, USA
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Posted: 12/19/2020 1:42:21 PM EDT
[#26]
Bitcoin will make stonks look like child's play
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Posted: 12/19/2020 3:55:57 PM EDT
[#27]
Quote HistoryOriginally Posted By baxt3r: Except the commonly available hardware is not really commonly available. Every GPU is getting scooped up if it's selling for a normal-ish price and the rest of them seem to be listed for insane prices on eBay and Amazon. I have been looking for a Red Devil 5700XT for about a month now and it's either the price is astronomical ($900 in some cases) or you can't get the thing into your cart and start the checkout process fast enough. I finally buckled and paid a little bit over normal price for one. My justification was I'm missing out on potential income by not having it and I would likely miss out on the price difference if I kept waiting. Now I am in the position where I need to decide if I want to cash out some of my coins to pay for another rig or if I want to sit on them and not expand. I'm leaning towards adding more rigs right now but I can't find GPUs that are reasonably priced. I expect them to stay hard to get for a few weeks after Christmas, maybe longer. |
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Posted: 12/19/2020 4:46:48 PM EDT
[Last Edit: Default-Gateway]
[#28]
Quote HistoryOriginally Posted By felrom: I'm shocked that there's any margin left for a small guy mining on his own with hardware he sources himself. If crypto is going up fast enough, at what rate of increase would it just be better for you to sell your mining rig and invest the money straight into crypto now? Quote HistoryOriginally Posted By felrom: Originally Posted By baxt3r: Except the commonly available hardware is not really commonly available. Every GPU is getting scooped up if it's selling for a normal-ish price and the rest of them seem to be listed for insane prices on eBay and Amazon. I have been looking for a Red Devil 5700XT for about a month now and it's either the price is astronomical ($900 in some cases) or you can't get the thing into your cart and start the checkout process fast enough. I finally buckled and paid a little bit over normal price for one. My justification was I'm missing out on potential income by not having it and I would likely miss out on the price difference if I kept waiting. Now I am in the position where I need to decide if I want to cash out some of my coins to pay for another rig or if I want to sit on them and not expand. I'm leaning towards adding more rigs right now but I can't find GPUs that are reasonably priced. I expect them to stay hard to get for a few weeks after Christmas, maybe longer. Unless you have free power and/or just like a hobby that is pretty much the point it is at. It is usually better to just buy the dips than try to mine. There are always exceptions but you have to know what you are doing. |
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Posted: 12/19/2020 4:53:43 PM EDT
[#29]
Just imagine what those retards who used bitcoin to pay for pizzas and stuff are thinking now.
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Posted: 12/19/2020 4:57:02 PM EDT
[Last Edit: Default-Gateway]
[#30]
Quote HistoryOriginally Posted By cms81586: Just imagine what those retards who used bitcoin to pay for pizzas and stuff are thinking now. You've never paid $240,000,000 for 2 pizzas? Perhaps go be poor somewhere else. The question is, does the guy who received the 10k BTC for the pizzas still have them? Or what did he sell at? |
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AR, USA
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Posted: 12/19/2020 5:04:06 PM EDT
[#31]
Go ahead, keep investing in things you cant hold in your hands. When dickhead locks down the counry it's all going to zero.
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Posted: 12/19/2020 5:04:12 PM EDT
[#32]
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Posted: 12/19/2020 5:16:13 PM EDT
[Last Edit: Default-Gateway]
[#33]
Quote HistoryOriginally Posted By MCREBELL: Go ahead, keep investing in things you cant hold in your hands. When dickhead locks down the counry it's all going to zero. That's not how any of this works. The dollar may go to zero but locking down the country means just the opposite for crypto. The current psuedo lockdown and subsequent weakening of the dollar is one of the reasons why we are at an ATH currently. Google Michael Saylor. |
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Posted: 12/19/2020 5:27:04 PM EDT
[#34]
Quote HistoryOriginally Posted By cms81586: Just imagine what those retards who used bitcoin to pay for pizzas and stuff are thinking now. |
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Posted: 12/19/2020 5:32:10 PM EDT
[#35]
Quote HistoryOriginally Posted By Default-Gateway: Unless you have free power and/or just like a hobby that is pretty much the point it is at. It is usually better to just buy the dips than try to mine. There are always exceptions but you have to know what you are doing. I easily mined various alt coins for less than pennies on the dollar (ex turtlecoin). However they are still worth years later less than pennies on the dollar. |
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Posted: 12/19/2020 5:32:21 PM EDT
[#36]
Quote HistoryOriginally Posted By billth777: XRP is where it’s at. Yep, I have 20k XRP, been letting it do it's own thing since 2017 :) |
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Posted: 12/19/2020 5:35:17 PM EDT
[#37]
Quote HistoryOriginally Posted By Thorazine: I easily mined various alt coins for less than pennies on the dollar (ex turtlecoin). However they are still worth years later less than pennies on the dollar. Quote HistoryOriginally Posted By Thorazine: Originally Posted By Default-Gateway: Unless you have free power and/or just like a hobby that is pretty much the point it is at. It is usually better to just buy the dips than try to mine. There are always exceptions but you have to know what you are doing. I easily mined various alt coins for less than pennies on the dollar (ex turtlecoin). However they are still worth years later less than pennies on the dollar. exactly. |
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Posted: 12/19/2020 6:33:23 PM EDT
[#38]
Subscribed to this thread.
Got an alert that you can buy crypto now directly from paypal when you login to it. Offered Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Never was much interested, but tossed a couple hundred bucks on it - will see where it goes lol |
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Posted: 12/20/2020 9:55:38 AM EDT
[#39]
Quote HistoryOriginally Posted By MCREBELL: Go ahead, keep investing in things you cant hold in your hands. When dickhead locks down the counry it's all going to zero. |
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Posted: 12/20/2020 10:32:38 AM EDT
[#40]
If crypto is tied to the dollar, then what happens when the dollar goes to shit?
Let’s be honest, it’s just a “stock” or security like Tesla. |
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Posted: 12/20/2020 10:41:04 AM EDT
[#41]
Quote HistoryOriginally Posted By shrimpmoney: If crypto is tied to the dollar, then what happens when the dollar goes to shit? Let's be honest, it's just a "stock" or security like Tesla.  Bitcoin isn't tied to anything. That's part of why it's so volatile. |
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Posted: 12/20/2020 10:41:28 AM EDT
[#42]
Quote HistoryOriginally Posted By shrimpmoney: If crypto is tied to the dollar, then what happens when the dollar goes to shit? Let’s be honest, it’s just a “stock” or security like Tesla. Bitcoin isn't tied to the dollar. |
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Posted: 12/20/2020 11:49:32 AM EDT
[#43]
I am retarded for not buying a few hundred of these when they were a dollar
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Posted: 12/20/2020 12:09:01 PM EDT
[#44]
i wish i was smart like you guys
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Posted: 12/20/2020 12:20:22 PM EDT
[#45]
Quote HistoryOriginally Posted By crashburnrepeat: I am retarded for not buying a few hundred of these when they were a dollar We all are. I’m getting into the game as of late, but I don’t see growth stopping. |
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Posted: 12/20/2020 12:25:33 PM EDT
[#46]
Serious question - if someone is just getting into the game now, knowing the going rate, how much should they look to invest for a casual hobby?
I have no plans to clean out my 401k to invest, but I could easily start throwing money I would otherwise spend on guns (which I couldn't replace the ammo I shoot from them). Is several hundred bucks a month "good enough" to see growth or would you need to be on the scale of thousands invested? |
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PA, USA
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Posted: 12/20/2020 12:25:44 PM EDT
[#47]
Quote HistoryOriginally Posted By woodsie: $600k/hour is the TOTAL pie for the entire mining network. There's thousands if not hundreds of thousands of people nibbling at that pie. The pie only gets bigger if bitcoin price goes up. The slices get smaller as more people try to mine. It also costs hardware and electricity to mine. Making money mining bitcoin is only possible if you have cheap or free electricity and the best hardware. People describe it as an arms race and that's a very accurate way to describe it. I don't think amateur bitcoin miners have a chance these days. nuclear powered bitcoin miners |
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WV, USA
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Posted: 12/20/2020 12:29:14 PM EDT
[#48]
Quote HistoryOriginally Posted By crashburnrepeat: I am retarded for not buying a few hundred of these when they were a dollar When I was in college back in 2013, this guy, he couldn’t be more than 19, he was really cool (he helped me figure out fafsa), talked about mining Bitcoin and he even gave a presentation on crypto. I wish I payed him more attention  Oh well, I dusted off my miners about a month ago and I’ve been mining Ethereum and some NiceHash. I’m making a small profit after the electric bill. |
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Posted: 12/20/2020 12:32:17 PM EDT
[#49]
I did some mining back in 2013. So much regret of selling out before now. Could of had 17+ BTC today if I held on. Alas, hind sight is 20/20. I'll just hold onto my .001 BTC until it hits $1M per BTC.
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Posted: 12/20/2020 12:34:37 PM EDT
[Last Edit: FlyNavy75]
[#50]
Quote HistoryOriginally Posted By bigdog02: Serious question - if someone is just getting into the game now, knowing the going rate, how much should they look to invest for a casual hobby? I have no plans to clean out my 401k to invest, but I could easily start throwing money I would otherwise spend on guns (which I couldn't replace the ammo I shoot from them). Is several hundred bucks a month "good enough" to see growth or would you need to be on the scale of thousands invested? Why not just DCA like any other investment? You throw a lump sum at Bitcoin and it may be half the next day. Or double I haven’t “made” Lambo money yet but I have made new Audi A3 money* *subject to change at any second |
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