The Bitcoin/Crypto Thread
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@mark said in The Bitcoin/Crypto Thread:
Mining is just an application that generates hashes which in turn are used to look for blocks. As you contribute to the building of the block, you get credits for helping out (Proof of Work) and occasionally you hit the jackpot actually find a block.
You typed too fast...
@George-K said in The Bitcoin/Crypto Thread:
You typed too fast...
I found a few explanations.
This is long, but will probably answer your questions in understandable language.
History, cost, benefits, economics
In a nutshell, you buy a computer and let someone else use it.
You can make some money, with some luck you can make more than the other guy. -
Awesome!! I went onto coinbase to buy some to support you LOL, but it's not supported on coinbase yet.
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Awesome!! I went onto coinbase to buy some to support you LOL, but it's not supported on coinbase yet.
@89th Thanks! It's like having a profitable employee that never sleeps and only has to be fed electricity. lol
I now have a total of 44 cores/threads (28 threads on my gaming rig and 16 threads on my workstation) mining 24/7 into the same wallet account.
It would be nice to be able to trade it on coinbase, but you have to convert it to another crypto to do that. Still a little ignorant on the way to cash out. I will figure it out but I want to let this little piggy bank fill up with coins right now. It would be very nice to have a few hundred of them if Monero hits $1,000.
My coinbase account is not doing as well as I would have liked. I am down about $180. lol The mining balanced that. Tempted to buy some more SHIB it's half what I bought $100 worth the first time last year. Might dollar cost average another couple million shares or so. lol
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Awesome!! I went onto coinbase to buy some to support you LOL, but it's not supported on coinbase yet.
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
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@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
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@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
@89th said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
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@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
@89th said in The Bitcoin/Crypto Thread:
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
Dreams and and a nice retirement fund, are made of SHIB hitting 0.10!
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@89th said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
@Ivorythumper said in The Bitcoin/Crypto Thread:
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
It's down from all time high by quite a bit. There are things happening that might change that and I am betting a small amount of real money on it. Not enough to be of any consequence, should it go bust.
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@89th said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
@Ivorythumper said in The Bitcoin/Crypto Thread:
@89th said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
In terms of missing out, you have not yet. See the last 12 months below. I bought after the 2nd smaller jump (before the big spike), so I'm about net even. Really, the bet here is that SHIB will become another meme coin that Elon tweets about and it goes to the moon like DOGE. Heck, if SHIB went even to $1.00 it would be worth more than the entire country's GDP... so in reality if it can jump to even a penny, that will make many people a lot of money. I own 23 million SHIB so you can do the math if it hits a penny (a dollar would be nicer! lol).
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@Ivorythumper said in The Bitcoin/Crypto Thread:
@89th said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
In terms of missing out, you have not yet. See the last 12 months below. I bought after the 2nd smaller jump (before the big spike), so I'm about net even. Really, the bet here is that SHIB will become another meme coin that Elon tweets about and it goes to the moon like DOGE. Heck, if SHIB went even to $1.00 it would be worth more than the entire country's GDP... so in reality if it can jump to even a penny, that will make many people a lot of money. I own 23 million SHIB so you can do the math if it hits a penny (a dollar would be nicer! lol).
@89th said in The Bitcoin/Crypto Thread:
@Ivorythumper said in The Bitcoin/Crypto Thread:
@89th said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@89th There is quite a bit of buzz going on about our favorite meme coin. Shiba Inu just did some big deal with the metaverse or something and is projected to hit 0.0001 maybe even .001 by the end of the year. I am going to toss a couple hundred more at it. I currently have 5.8 million coins. I am going to make it 10 million coins maybe even go as high as 30 million. lol It is currently trading at $0.000025. I am dollar cost averaged at $0.000041 so I am down at this point.
In the meantime, Monero (XMR) is up 8.03% at $274.98 per coin so my mined efforts went up in value by $12.89 in one day.
This is fun. Hopefully with a little mad money down the road.
Cool! I bought 4 million SHIB a year or so ago (for like $100?), figured why not... Hopefully I get an alert if it spikes so I can sell it in time, lol.
How's that SHIB doing?
I first started looking at this thread in Nov 2021, and haven't bought anything ever. Did I miss out, or save my money?
In terms of missing out, you have not yet. See the last 12 months below. I bought after the 2nd smaller jump (before the big spike), so I'm about net even. Really, the bet here is that SHIB will become another meme coin that Elon tweets about and it goes to the moon like DOGE. Heck, if SHIB went even to $1.00 it would be worth more than the entire country's GDP... so in reality if it can jump to even a penny, that will make many people a lot of money. I own 23 million SHIB so you can do the math if it hits a penny (a dollar would be nicer! lol).
Thanks for the update! I hope it goes up— Luke 23:42.
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I started to GPU mine Ethereum a few days ago. It pays out in Bitcoin.
Right now I am mining $15 in bitcoin every 18 hours. The electricity cost is about $2 or so. Bitcoin is currently way down from the all time high.
At first I only had one GPU mining. The liquid cooled Nvidia RTX 3090 Hybrid was producing $4/day. I then put the AMD 6900XT to work and I am up to $7.50-$8/day.
Right now I am doing pretty good reaching the 005 ETH level for payout every 18 hours.
I can see the attraction to doing this on a larger scale. lol
