The Bitcoin/Crypto Thread
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@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
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@mark said in The Bitcoin/Crypto Thread:
Right now I am mining $15 in bitcoin every 18 hours. The electricity cost is about $2 or so.
What is the cost if you factor in the cost of the graphics card (assuming, say, that you'll use them for one or two years)?
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@Klaus I use the cards mostly for gaming. Yes, I have to stop mining to play VR Golf and when I want to fly or race.
The cards were quite pricey but at this rate, I will "pay them off" (they are already paid for lol) in under 2 years to pay for the original cost of the cards, unless Bitcoin explodes again.
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@Klaus said in The Bitcoin/Crypto Thread:
unless Bitcoin explodes again.
I don't think you'd gain much with regard to mining profits if Bitcoin explodes. It would then immediately attract more miners, which would in turn raise the difficulty target for finding nounces.
True but the BC I would own, at the time of the explosion would obviously be worth more. If it hits $65k again I would cash out 50% or so but let some ride. Maybe it will hit $150k! lol
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Education is extremely important.
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@Horace said in The Bitcoin/Crypto Thread:
@Klaus said in The Bitcoin/Crypto Thread:
Well, I'm all for it.
If Bitcoin increases by 100x, I can retire. Is that too much to ask?
No, but it means you have too much of your portfolio wrapped up in bitcoin.
Maybe I'm just particularly modest in my financial needs for retiring
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@Klaus said in The Bitcoin/Crypto Thread:
Maybe I'm just particularly modest in my financial needs for retiring
Healthcare cost factors big into Americans’ retirement planning. If you live in a place that has significantly lower healthcare cost (compared to the USA), your financial needs for retiring will very likely be more modest.
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I still dont "get it". LOL
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I stopped mining Monero XMP. It wasn't producing enough even with 36 cores running. If I run the solo miner my CPU gets too hot even with only 8 cores active. I think I need a better CPU cooler. lol Tried to use a pool where a bunch of people are contributing to the process. You earn "shares" for work performed. You only get a payout if you currently have an active "share". The shares only stay active for 12 hours. During that time, if a block is found you get a very small portion (1/2000th) of the block reward. Which works out to about $0.07 per payout. Not worth it as I was only getting a few payouts every other day or so.
So now it's strictly GPU based mining. Still using a pool but it is not the same as the Monero p2Pool. I am seeing $6-$8 per day payouts. I will be looking into an ASIC miner but not 100% sure I want to go down that road.
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@mark I think you are in better shape to be okay if the price falls than this company
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Cryptocurrency’s dollar values are falling along with the stock market indices:
https://www.fastcompany.com/90749588/stocks-and-cryptocurrencies-are-crashing-today-heres-why
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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.
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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.
