Bitcoins/Litecoins/Virtual Currencies

Rajaah said:

Pretty sure my Coinbase only has a $4 fee, but it's per transaction. So I stick to larger transactions. Not sure why my fees are different. Maybe I'm wrong and there are hidden fees. I had the idea to buy like $20 of every top 50 crypto available just to hang onto and see if any of them ever go parabolic (or see what they're all worth in five years, kind of thing), but I quickly realized my idea was ruined by a $4 charge being tacked onto every $20 buy.

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Coinbase starts at a 3% fee. Coinbase Pro has a .5% fee. I’m not familiar w trailing volume fees.

If you’re not taking this into consideration you’re showing more profit than you actually have.

Need more MANA

Threelions said:

Need more MANA

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MANA is so hot right now. I bought a few hundred dollars of it at .25 because I had a good feeling about it, later sold at .41 which it was hovering around for a bit. Expected it to go back down, instead now it's in the high .50s. Could this be the next crypto to make a big leap? I've still got a good feeling about it, so I'm definitely going to buy back in when it dips.

Is anything worth mining these days? I have a 25 percent discount on power, if that helps the equation.

Or is it kinda a waste of time unless you have free power (ie borrowed.)

Edit:

I just downloaded gminer, I have a 5700XT.

This is what it's telling me:



If my calculations are correct, this is like $5 a day, ha. But I have no idea if I'm doing it right. My power costs around 12 cents a kw/h I think.

How much can this scale up if you build one of these mining rigs with like 10 GPUs?

Edit again:

I’m reading a lot of people are saying crypto mining is about to fall off a cliff later this year and there’s little reason to get into GPU mining currently. Truth to that?

Edit even again:

Undervolted my GPU some.



Now I’m actually at 53 MH/s and efficiency of 470 KH/w

Lambourne said:

If you want to mine, it's probably best to join Zergpool and use their setup for Awesome Miner (which, despite the cheesy name, actually works pretty well). This lets you benchmark your system and use profit switching so you're always mining whatever your PC is best suited for measured in $/hr. Can input your kWh price in Awesome miner so you have a realistic idea of how much you are making.

With my power costs it wasn't really viable, on a 2070 I was looking at a making 1-2 dollars a day at most. Didn't think it was worth the wear and tear on the PC, not to mention the amount of heat it was pumping into the room.

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It was more me just fucking around than anything. I’m sure it’s overall a waste of time by now. It looks like from what I’m reading if you haven’t got in yet the boat has been missed.

From my understanding, the problem with GPU mining is once Ethereum 2.0 comes out which uses staking, there isn’t (yet) another coin worth mining that will actually be profitable. Apparently this is happening within the next 6 months to 2 years depending.

I’ll check out what you mentioned, sounds fun to play around with.

Bitcoin is worthless, guys!

Moogalak said:

Bitcoin is worthless, guys!

Bitcoin: this year I stand to make $200 million more than Elon Musk

Tesla spending billions on Bitcoin is bad news for the company’s shareholders and for Elon Musk’s admirers - not to mention the planet.

theconversation.com

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I appreciate the Bitcoin bears. It's a refreshing perspective from the "to teh moon" crowd. He also shares my own perspective on the Bitcoin reset that occurs after every speculative run or bubble. I'm currently waiting on it and capitalizing on buying low and selling high. Capital gains be damned!

However, he doesn't make a great case about Bitcoin not being a good replacement for gold. He simply says, "We already have gold".

I have heard a lot about CBDC's (Central Bank Digital Currencies) as a means of increasing speed and improving cost and transparency. So, it seems like that line of thinking has a lot of teeth. However, it doesn't mean CBDC's won't coexist with Bitcoin.

LachiusTZ said:

I'm always looking for a decent bear argument, but that guy isn't it.

The only way I can see the bear case ATM, is that strange deflationary theory that's floated around but nobody can really describe how it would work. Lol

The reality is, it's all sentiment, like blazin said in the investing general thread.

And I struggle to find a way for sentiment to backtrack. Save for maybe China dumping so much volume that it blows the floor out? But why would they do that when they hold so much, and have invested so much in mining?

I guess the other bear case is if the govts decide to regulate it to death, which is oddly justification for why crypto needs to exist etc.

I dunno, a compelling argument about it having near zero value is hard to find.

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Readgarldess of the click-bait, I didn't come away with BTC has no value.

I came away with something like, "BTC will correct back to the 2 year 20 DMA", which I've been really suspect it would do. He even cited the same events that I have in this very thread.

Check out my sweet earnings for around 15 hours of mining! $4.57. If my calculations are right based off my power bill and estimates for power usage this has cost me about 30-40 cents, if I'm doing that right (who the fuck knows.)

Rather pointless but amusing.

Knowing what (little) I know now I totally should have got into this years ago when it was hot for years to come.

Daezuel said:

There are coins besides ETH that are profitable. Current profits really mean very little to dedicated miners anyways, its speculative like any investing.

Keep your rigs going until the next huge spike 2 years from now etc. As long as you can pay your bills that is hah. Wish I could power some rigs off solar. I'd build a solar shed right now if I could.

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True enough, I was thinking about that...I saw people talking about Raven for instance. Could be a fun speculative hobby to farm it (or something else) now and then hope it skyrockets in coming years.

I was reading you'd need around 3,000 sqft of solar panels to power 10 video cards or something like that. You'd probably never make your money back unless you just had it already set up for your house.

Caliane said:

wouldn't it be more effective to just buy the Eth to solo stake, and do that instead?

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Most likely. I think that applies to a lot of this. In many cases if you're speculating you may as well just spend the capital on buying it outright. Takes the fun out of it, though.

Daezuel said:

Takes the fun out of it and really your risk is in GPU's that have insane resell value.

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Exactly, that's a big piece of it. You can always get some of it back.

I had this computer built in 2019 for gaming with a 5700 XT and I think the video card is worth more now than what I bought it for. Huge WTF.

Wonder when they're ever gonna catch up to demand.