I think I figured it out that it had to run non stop for at least half a year to break even on the equipment cost. Maybe a little longer. Counting equipment cost that doesn’t sound too far off. But I am curious if they mean mining btc it’s self or mining a btc worth of some other coin. There are machines designed specifically for mining btc which are so much faster than any GPU out there. ASICs are just insane. So I don’t even try. Most are mining ETH now bc its profitable.
Right, but at some point people are going to want to buy lotto tickets, Mad Dog 20/20, and dildos... or pay under the table labor like babysitters/dogsitters etc without having an entire publicly viewable transaction trail. The more I learn about it, the more compelling I find the case for it, even for big money: Also you and user15000 prevented me from buying it a week ago, you jerks. haha. I'm not a total gambling type, so I'll continue to put most of my crypto stash into BTC/ETH, but I'm going to leg into Monero as my #3. Maybe it's naive, but I really believe in the project conceptually.
I agree with pretty much everything you’re saying. The regulatory stuff is the only thing that worries me. If you want to live your life on crypto its possible that doesn’t matter... Idk. I don’t want to give the wrong impression on Alts either. I think it’s one of the best ways to get more btc but if you are just starting it’s kind of important to build up your btc and at least understand that first. Jmo and my experience. Sounds like you did your homework that’s about all you can do.
Litecoin to the moon I bought some earlier this week and it's now at $220+ what's the board's opinion on LTC?
I’ll only ever tell people to buy btc, so I’m a bit of a broken record. I get the use case for Monero, but governments are far more likely to ban the on/off ramps for that and it won’t ever gain institutional adoption.
Rough price estimate for this dumb, conspiracy backed, pyramid scheme, ponzi, criminal money laundering asset class with no intrinsic value to hit the $1 trillion mark.
Tell us how you really feel Seriously though congrats, I know you’ve taken a lot of shit over the years and I’m sure that milestone would bring a lot of personal vindication. Hope you become a billionaire and hope it doesn’t collapse again lol. It’s been fun dipping my toe in the water.
$50k is a fun milestone and $1 trillion is important because then it’s big enough for things like pension funds, sovereign wealth funds, etc to start paying attention to. As it goes up, it draws more investors, which is a fun characteristic. I don’t really care about people giving me shit. I’ve heard and read all of the btc criticism. At the end of the day, I made a bet. It’ll either be right or wrong. If I’m right, I retire soon. If I’m wrong and it goes to zero, I work another 20 years.
I hear you as well. The regulatory concerns are legitimate, and I see a lot of hand waiving regarding the issue from the Monero community. I mean they’re addressing it from a tech standpoint with Atomic Swaps, but being universally delisted is terrible for adoption purposes in the near term. The power of usability (from a UX perspective) cannot be overstated. My hope is that awareness and common sense overcomes fear at some point, but BTC will probably have to win its war first. If it does, I think a lot of eyes turn to Monero as it’s actually what the general public thinks they’re buying now in BTC or even fake privacy coins. It’s what I would want to use for exchange. But hey, better tech doesn’t always win. History is littered with examples, and I’ll probably be dead before I can’t pay my babysitter in USD anyway. For the future’s sake, I hope it or something similar eventually wins though.
In regards to bitcoin, no he does not. He’s still stuck on it being a currency. Interesting listen none the less. He’s very knowledgeable about defi and nfts.
Where would you say public sentement for crypto is right now? I feel like it's been tearing, but I haven't heard anyone talk about it other than people talking about Doge Coin (is it pronounced dough-jeh or Doggie?) randomly. I also work somewhere different than the last run 4 years ago, so not sure if that's why talk is different.
This is so foreign a concept it’s never going to get a high rate of adoption from anyone over 50-60, but it’s been getting more main stream. Lot of people still think it’s all a scam though. The thing that brings me to it is it becoming institutionalized
We thinking BTC comes back down a bit? Kicking myself when I saw it at $29k inter-day a few weeks ago and didn't jump. Just keep expecting it to come back down like it did a few years back when it first hit $20k. I feel like this all related to the $GME frenzy- it got some many new people on Robinhood who are now trying to find anyway to make it rich quickly- crypto included. Has to slow down eventually?
This will come as a surprise to no one, but i'm the btc person in my friends/family group. I've seen a noticeable uptick in interest from friends. I have a college buddy who just put 10% of his portfolio into btc and is now buying monthly. I have a work colleague who is trying to get to $250k invested. My parents have bought more gbtc and btc recently. But I don't think this is reflective of the general public sentiment. More people have been drawn in with the higher price, but I still think it's a fringe thing that most aren't paying attention to. Tesla was big news, but it's only the first SP500 company. I still know of plenty of people chasing after DOGE, ADA, and other random stuff that is the equivalent of the 2017 ICO boom. This is all anecdotal and kind of rambling, but I don't think people start truly paying attention until it hits $100k. I cannot predict anything short-term, but I think it would be a mistake to think that this is similar to the $20k top in 2017 and the subsequent drop. BTC has traditionally moved in 4-year cycles post-halvings in 2012, 2016, and now 2020. The equivalent 2017 peak and drop would not occur until late 2021/early 2022 (if it occurs at all). So short-term, I have no clue what the price does. But i do think we're in the middle of a bull run for the rest of this year. I am not a trader, cannot time the "top," don't want to pay taxes on gains, and eventually think that this reaches the point where the bear markets are less pronounced or don't happen, so I won't be looking to sell any time soon.
I had accounts on binance, bittrex, and Coinbase where it had less than 10k worth of coins at the time of the last run up, but I forgot the username and the token accounts (or whatever is called) w the long chain of numbers/letters. I just had a dream and remembered when I was in college and bought some Bitcoin when gambling (left it on there in case I ever wanted to gamble again) and then some on that .onion site where you could buy shrooms and molly. On that site I put like $50 of Bitcoin on it and then wussed out purchasing and just left it on there. I assume that is gone now right? There was a thread on tmb a long ass time ago. Maybe 2011 about dark web and I bought some BTC through a diff sketchy site linked in that thread w some of my poker earnings. I know It was before Black Friday in poker (April 15 iirc) because I bought like $1,000 in BTC on some random exchange. anyway in my dream I remembered that I wrote the codes do the first 3 accounts mentioned and put them in this plastic drawer thing I had in college that was in the back corner of my closet. I just woke up and dug through the back of my closet and found the plastic container. In it was 3 old business cards w a Coinbase, bittrex, and two binance long code things. Now I’m trying to figure out if the betting site was BoDog or something like that to see if I have any on there. I dream a lot, but haven’t really every dreamed about BTC and it’s crazy how it led me right to these 3 cards I’ve been looking for (I didn’t remember it was on 3 spectate cards). long ass post I’m sure no one cares about. But crazy when dreams help remember stuff.
So, got bored today and read the last 8 pages or so of this thread. Is buying crypto as simple as getting Coinbase (or whatever equivalent) and then just going for it? Do I need a cold or hot wallet? Any tips for a moron such as myself?
Yes it’s as simple as buying at Coinbase or kraken or Gemini. Wallet is safest but probably depends on how much you’ll have. ledger, Trevor, or coldcard are fine for storage.
https://finance.yahoo.com/news/coinbase-readying-public-listing-gets-134221206.html Coinbase 77bil valuation ahead of IPO Spoiler Cryptocurrency exchange Coinbase, which is preparing to trade publicly in the next few months, is being valued at $77 billion, based on trading of the company’s privately held shares on a secondary market. Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece, according to two people with knowledge of the auction. That implies a total company value of about $77 billion – greater than Intercontinental Exchange Inc., the owner of the New York Stock Exchange. “The third weekly transaction closed on Friday and the clearing price was $303 a share,” said a source. “The first week it was 200 bucks a share, the second week it was $301 a share, and the third week it was $303 a share. So you can kind of see price discovery happening.” Coinbase declined to comment. The Coinbase private market is running an anonymous order book ahead of the company’s direct public listing, a date for which is still unknown. The sale allows current and former employees, as well as investors in Coinbase, to take some cash off the table. Around 254 million shares in Coinbase will be outstanding and available to trade when the firm goes public, according to sources with knowledge of the offering. Coinbase pre-IPO futures contracts were trading on crypto derivatives exchange FTX at about $386 at the time of writing. Coinbase goes big Hopes for Coinbase’s public listing are riding high within the crypto community, especially as the price of bitcoin continues to reach above $50,000. (More will be revealed about Coinbase’s finances when the confidential S-1 it filed with U.S. Securities and Exchange Commission is made public in the coming weeks.) Related: Waitlist for Ethereum 2.0 Staking Now Live on Coinbase Countering such great expectations is the argument that the valuation of 100% of a company could be very different than the valuation of half a percent of its shares. However, the secondary selling of shares sponsored by Coinbase over the past three weeks has seen “meaningful amounts” change hands, according to a source. “It’s not like a handful of shares being exchanged at $300 a share. Each week it’s tens of millions of dollars, a pretty sizable amount,” said the source.
Why is AAVE down this week? I’m putting in 1k Friday into something and I’m not sure if I should just go all BTC or spread it out. I already diverted from my initial plan of ~500 BTC and 500 in others. Update on my long ass post. I tried logging into my binance, bittrex , and old Coinbase and couldn’t get in. I’ve been slammed at work and will attempt again tomorrow. I did password reset emails/texts but didn’t get any. I was hoping it just took time...but more than 24 hours later and I haven’t gotten anything. Trying betting site again tomorrow after locking myself out.