The Bitcoin/Crypto Thread
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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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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.
@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.
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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.
@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.
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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.
@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
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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).
@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.
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@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.
@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.
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The supposedly “algorithmically pegged” UST has collapsed, it’s related Luna coin is now deemed worthless on the open market:
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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.
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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.
@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
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@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?
@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.htmlBuffet has been an Apple Inc. stock owner since 2016.
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@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.htmlBuffet has been an Apple Inc. stock owner since 2016.
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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
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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.
