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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@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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@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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@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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@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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@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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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
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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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