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The New Coffee Room

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  3. The Bitcoin/Crypto Thread

The Bitcoin/Crypto Thread

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  • markM Offline
    markM Offline
    mark
    wrote on last edited by mark
    #268

    Converting my mined Monero to Bitcoin. In the process of the transaction now. I can then transfer it into my Coinbase account and transfer cash into the bank account. A total of $150 for a couple of weeks of mining. Not too bad IMO. I did get lucky and hit a solo block worth most of that $150. I might try solo mining again. The p2Pool payouts are just not frequent enough for the amount you receive.

    1 Reply Last reply
    • AxtremusA Offline
      AxtremusA Offline
      Axtremus
      wrote on last edited by
      #269

      https://www.cnbc.com/2022/05/10/bitcoin-btc-investors-panic-as-terrausd-ust-sinks-below-1-peg.html

      The UST coin that's supposed to be pegged to the USD fell to 70 cents, making lots people worry that the issuer of UST may sell a lot of Bitcoins to prop the UST back up.

      X 1 Reply Last reply
      • MikM Away
        MikM Away
        Mik
        wrote on last edited by
        #270

        alt text

        “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

        1 Reply Last reply
        • AxtremusA Axtremus

          https://www.cnbc.com/2022/05/10/bitcoin-btc-investors-panic-as-terrausd-ust-sinks-below-1-peg.html

          The UST coin that's supposed to be pegged to the USD fell to 70 cents, making lots people worry that the issuer of UST may sell a lot of Bitcoins to prop the UST back up.

          X Online
          X Online
          xenon
          wrote on last edited by xenon
          #271

          @Axtremus said in The Bitcoin/Crypto Thread:

          https://www.cnbc.com/2022/05/10/bitcoin-btc-investors-panic-as-terrausd-ust-sinks-below-1-peg.html

          The UST coin that's supposed to be pegged to the USD fell to 70 cents, making lots people worry that the issuer of UST may sell a lot of Bitcoins to prop the UST back up.

          It all but collapsed today. And to put it in perspective UST and LUNA had a combined market cap of about $50B.

          That's about the same as GM.

          1 Reply Last reply
          • 89th8 Offline
            89th8 Offline
            89th
            wrote on last edited by
            #272

            Bought more bitcoin today. Of course, if coinbase goes bankrupt I'll lose all my cash there, but I'd have to imagine the odds of that are small.

            markM 1 Reply Last reply
            • X Online
              X Online
              xenon
              wrote on last edited by
              #273

              Bitcoin is the only one I would put a little money... (though I haven't yet)...

              Digital gold and all that...

              The rest of the stuff? I don't know how it makes anyone's life better. (Maybe lower remittance fees... that's about it).

              89th8 1 Reply Last reply
              • 89th8 89th

                Bought more bitcoin today. Of course, if coinbase goes bankrupt I'll lose all my cash there, but I'd have to imagine the odds of that are small.

                markM Offline
                markM Offline
                mark
                wrote on last edited by mark
                #274

                @89th I'm mining ETH and getting paid in Bitcoin. It's not a fortune but it is buffering the crash that is happening.

                I have very little cash invested in Crypto. It's more of a hobby than an investment strategy.

                Although I did pick up more SHIB. I have 40 million of them now. lol

                1 Reply Last reply
                • X xenon

                  Bitcoin is the only one I would put a little money... (though I haven't yet)...

                  Digital gold and all that...

                  The rest of the stuff? I don't know how it makes anyone's life better. (Maybe lower remittance fees... that's about it).

                  89th8 Offline
                  89th8 Offline
                  89th
                  wrote on last edited by
                  #275

                  @xenon said in The Bitcoin/Crypto Thread:

                  The rest of the stuff? I don't know how it makes anyone's life better. (Maybe lower remittance fees... that's about it).

                  I think ETH is behind NFTs which I could see as a significant way of the future for digital ownership.

                  @mark nice! Let's get SHIB to the moon.

                  X 1 Reply Last reply
                  • 89th8 89th

                    @xenon said in The Bitcoin/Crypto Thread:

                    The rest of the stuff? I don't know how it makes anyone's life better. (Maybe lower remittance fees... that's about it).

                    I think ETH is behind NFTs which I could see as a significant way of the future for digital ownership.

                    @mark nice! Let's get SHIB to the moon.

                    X Online
                    X Online
                    xenon
                    wrote on last edited by
                    #276

                    @89th said in The Bitcoin/Crypto Thread:

                    @xenon said in The Bitcoin/Crypto Thread:

                    The rest of the stuff? I don't know how it makes anyone's life better. (Maybe lower remittance fees... that's about it).

                    I think ETH is behind NFTs which I could see as a significant way of the future for digital ownership.

                    @mark nice! Let's get SHIB to the moon.

                    It could... but digital ownership of what though... I don't own anything that would benefit from having a "digital deed" or being subject to digital scarcity.... that might just be "me" bias though.

                    89th8 1 Reply Last reply
                    • AxtremusA Offline
                      AxtremusA Offline
                      Axtremus
                      wrote on last edited by
                      #277

                      The supposedly “algorithmically pegged” UST has collapsed, it’s related Luna coin is now deemed worthless on the open market:

                      https://www.cnbc.com/2022/05/13/cryptocurrency-luna-crashes-to-0-as-ust-falls-from-peg-bitcoin-rises.html

                      1 Reply Last reply
                      • JollyJ Offline
                        JollyJ Offline
                        Jolly
                        wrote on last edited by
                        #278

                        I don't invest in things I don't understand. Even after all the electrons put into this thread, I fail to see how crypto is a wise investment.

                        “Cry havoc and let slip the DOGE of war!”

                        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                        Catseye3C 1 Reply Last reply
                        • JollyJ Jolly

                          I don't invest in things I don't understand. Even after all the electrons put into this thread, I fail to see how crypto is a wise investment.

                          Catseye3C Offline
                          Catseye3C Offline
                          Catseye3
                          wrote on last edited by
                          #279

                          @Jolly "I don't invest in things I don't understand."

                          You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                          Is that where you got this investing strategy? 🙂

                          Success is measured by your discipline and inner peace. – Mike Ditka

                          AxtremusA JollyJ 89th8 3 Replies Last reply
                          • Catseye3C Catseye3

                            @Jolly "I don't invest in things I don't understand."

                            You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                            Is that where you got this investing strategy? 🙂

                            AxtremusA Offline
                            AxtremusA Offline
                            Axtremus
                            wrote on last edited by Axtremus
                            #280

                            @Catseye3 said in The Bitcoin/Crypto Thread:

                            @Jolly "I don't invest in things I don't understand."

                            You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                            Well …

                            As of May 2, Apple Inc. is Berkshire Hathaway’s largest stock holding:
                            https://www.cnbc.com/2022/05/02/buffett-bought-more-apple-last-quarter-and-says-he-would-have-added-more-if-the-stock-didnt-rebound.html

                            Buffet has been an Apple Inc. stock owner since 2016.

                            Catseye3C 1 Reply Last reply
                            • AxtremusA Axtremus

                              @Catseye3 said in The Bitcoin/Crypto Thread:

                              @Jolly "I don't invest in things I don't understand."

                              You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                              Well …

                              As of May 2, Apple Inc. is Berkshire Hathaway’s largest stock holding:
                              https://www.cnbc.com/2022/05/02/buffett-bought-more-apple-last-quarter-and-says-he-would-have-added-more-if-the-stock-didnt-rebound.html

                              Buffet has been an Apple Inc. stock owner since 2016.

                              Catseye3C Offline
                              Catseye3C Offline
                              Catseye3
                              wrote on last edited by
                              #281

                              @Axtremus
                              Well, shet mah mouf.

                              Success is measured by your discipline and inner peace. – Mike Ditka

                              JollyJ 1 Reply Last reply
                              • MikM Away
                                MikM Away
                                Mik
                                wrote on last edited by
                                #282

                                I'm in Jolly's camp. I've read up on crypto and still don't really understand it so I steer clear.

                                Cats, I think you are referring to Buffett's lack of investment in the original dot com bubble back in the 90's.

                                “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                                Catseye3C Aqua LetiferA 2 Replies Last reply
                                • MikM Mik

                                  I'm in Jolly's camp. I've read up on crypto and still don't really understand it so I steer clear.

                                  Cats, I think you are referring to Buffett's lack of investment in the original dot com bubble back in the 90's.

                                  Catseye3C Offline
                                  Catseye3C Offline
                                  Catseye3
                                  wrote on last edited by
                                  #283

                                  @Mik Probably so. IIRC, that's when I redd about it.

                                  Success is measured by your discipline and inner peace. – Mike Ditka

                                  1 Reply Last reply
                                  • Catseye3C Catseye3

                                    @Jolly "I don't invest in things I don't understand."

                                    You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                                    Is that where you got this investing strategy? 🙂

                                    JollyJ Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #284

                                    @Catseye3 said in The Bitcoin/Crypto Thread:

                                    @Jolly "I don't invest in things I don't understand."

                                    You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                                    Is that where you got this investing strategy? 🙂

                                    I've listened to a lot of Buffet and his partner. I've read and listened to Dave Ramsey. I like Graham's classic book. I like Jack Bogle's investing philosophy.

                                    If I could live my life over, there are some money things I would do different...or the same...

                                    1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too. Dollar average, dollar average, dollar average.
                                    2. Debt is a money killer. Some debt types are preferred over others. Mortgage debt is not entirely bad. Student loan debt - within reason - is not entirely bad. That comes with the caveat that you acquire DIY skills and start with a fixer-upper you can later sell at a profit. The caveat on student loan debt is you borrow no more than what you must and for most common degrees, there exists less expensive schools.
                                    3. Buy and hold. If you picked a good stock or a good fund, ride it.
                                    4. Diversify. Either by investing in the whole market by index funds or select sector funds in businesses that you know well. Own some real estate. Have a bit in bonds or bond funds.
                                    5. Always beware of fees. Some companies (example: M-L) will kill you with fees.
                                    6. Cash ain't bad. And the best way to acquire cash for the average person is to live below your means. You don't want too much of your wealth tied up in cash, but you want enough to be flexible in regards to opportunities or enough to cover any emergencies.

                                    That's a few, but I think you get most of my financial philosophy from that...

                                    “Cry havoc and let slip the DOGE of war!”

                                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                    AxtremusA KlausK 2 Replies Last reply
                                    • JollyJ Jolly

                                      @Catseye3 said in The Bitcoin/Crypto Thread:

                                      @Jolly "I don't invest in things I don't understand."

                                      You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                                      Is that where you got this investing strategy? 🙂

                                      I've listened to a lot of Buffet and his partner. I've read and listened to Dave Ramsey. I like Graham's classic book. I like Jack Bogle's investing philosophy.

                                      If I could live my life over, there are some money things I would do different...or the same...

                                      1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too. Dollar average, dollar average, dollar average.
                                      2. Debt is a money killer. Some debt types are preferred over others. Mortgage debt is not entirely bad. Student loan debt - within reason - is not entirely bad. That comes with the caveat that you acquire DIY skills and start with a fixer-upper you can later sell at a profit. The caveat on student loan debt is you borrow no more than what you must and for most common degrees, there exists less expensive schools.
                                      3. Buy and hold. If you picked a good stock or a good fund, ride it.
                                      4. Diversify. Either by investing in the whole market by index funds or select sector funds in businesses that you know well. Own some real estate. Have a bit in bonds or bond funds.
                                      5. Always beware of fees. Some companies (example: M-L) will kill you with fees.
                                      6. Cash ain't bad. And the best way to acquire cash for the average person is to live below your means. You don't want too much of your wealth tied up in cash, but you want enough to be flexible in regards to opportunities or enough to cover any emergencies.

                                      That's a few, but I think you get most of my financial philosophy from that...

                                      AxtremusA Offline
                                      AxtremusA Offline
                                      Axtremus
                                      wrote on last edited by
                                      #285

                                      @Jolly said in The Bitcoin/Crypto Thread:

                                      1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too.

                                      US law requires that you be at least 18 years old before you can open a brokerage account.

                                      KlausK MikM 2 Replies Last reply
                                      • JollyJ Jolly

                                        @Catseye3 said in The Bitcoin/Crypto Thread:

                                        @Jolly "I don't invest in things I don't understand."

                                        You and Warren Buffett. That's why he's invested his whole life in Coca-Cola and none at all in computers.

                                        Is that where you got this investing strategy? 🙂

                                        I've listened to a lot of Buffet and his partner. I've read and listened to Dave Ramsey. I like Graham's classic book. I like Jack Bogle's investing philosophy.

                                        If I could live my life over, there are some money things I would do different...or the same...

                                        1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too. Dollar average, dollar average, dollar average.
                                        2. Debt is a money killer. Some debt types are preferred over others. Mortgage debt is not entirely bad. Student loan debt - within reason - is not entirely bad. That comes with the caveat that you acquire DIY skills and start with a fixer-upper you can later sell at a profit. The caveat on student loan debt is you borrow no more than what you must and for most common degrees, there exists less expensive schools.
                                        3. Buy and hold. If you picked a good stock or a good fund, ride it.
                                        4. Diversify. Either by investing in the whole market by index funds or select sector funds in businesses that you know well. Own some real estate. Have a bit in bonds or bond funds.
                                        5. Always beware of fees. Some companies (example: M-L) will kill you with fees.
                                        6. Cash ain't bad. And the best way to acquire cash for the average person is to live below your means. You don't want too much of your wealth tied up in cash, but you want enough to be flexible in regards to opportunities or enough to cover any emergencies.

                                        That's a few, but I think you get most of my financial philosophy from that...

                                        KlausK Online
                                        KlausK Online
                                        Klaus
                                        wrote on last edited by
                                        #286

                                        @Jolly said in The Bitcoin/Crypto Thread:

                                        If I could live my life over, there are some money things I would do different...or the same...

                                        1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too. Dollar average, dollar average, dollar average.
                                        2. Debt is a money killer. Some debt types are preferred over others. Mortgage debt is not entirely bad. Student loan debt - within reason - is not entirely bad. That comes with the caveat that you acquire DIY skills and start with a fixer-upper you can later sell at a profit. The caveat on student loan debt is you borrow no more than what you must and for most common degrees, there exists less expensive schools.
                                        3. Buy and hold. If you picked a good stock or a good fund, ride it.
                                        4. Diversify. Either by investing in the whole market by index funds or select sector funds in businesses that you know well. Own some real estate. Have a bit in bonds or bond funds.
                                        5. Always beware of fees. Some companies (example: M-L) will kill you with fees.
                                        6. Cash ain't bad. And the best way to acquire cash for the average person is to live below your means. You don't want too much of your wealth tied up in cash, but you want enough to be flexible in regards to opportunities or enough to cover any emergencies.

                                        Sounds good. I'd sharpen 2. to "No debt ever, except for a house (and in the US potentially student loan)". Don't have the cash for a new car? Buy a used one you can afford.

                                        I'd add: If you have money to spend, spend it on big "dream-fulfilling" things, rather than on general lifestyle things.

                                        And: Don't buy insurance for something that won't kill you financially in the damage event. The ROI is bad, so it's only worth it if the damage case is life-threatening.

                                        And: Separate friends and money. Don't lend money to your friends, or ask them for money.

                                        89th8 1 Reply Last reply
                                        • AxtremusA Axtremus

                                          @Jolly said in The Bitcoin/Crypto Thread:

                                          1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too.

                                          US law requires that you be at least 18 years old before you can open a brokerage account.

                                          KlausK Online
                                          KlausK Online
                                          Klaus
                                          wrote on last edited by
                                          #287

                                          @Axtremus said in The Bitcoin/Crypto Thread:

                                          @Jolly said in The Bitcoin/Crypto Thread:

                                          1. Buffet said he started investing at 11, but wishes he had started investing at 7. I wish I had, too.

                                          US law requires that you be at least 18 years old before you can open a brokerage account.

                                          You seem to have a too narrow view of what an investment can be.

                                          AxtremusA 1 Reply Last reply
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