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Crypto currency discussion

  1. #301
    Professor of Philosphy Cerberus's Avatar
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    Re: Crypto currency discussion


    Quote Originally Posted by TheIglu View Post
    I'm just hoping that people bail on mining. My monthly take has dropped significantly since I began.
    blame china

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  2. #302
    Lifer ilikenapalm's Avatar
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    Re: Crypto currency discussion

    Quote Originally Posted by TheIglu View Post
    I'm just hoping that people bail on mining. My monthly take has dropped significantly since I began.
    Have you compared your electricity cost before and after mining?

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  3. #303
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    Yeah, I did, but it coincides with the winter heating season too. So it's a little muddled.

    ETH and all other cryptos took a BEATING last week, down double digits day after day. Started to recover and stabilize. ETH is hovering around the $800 mark. Monero is gaining back some ground.


    Sia allowed ASIC's and basically threw their entire mining base under the fuckin bus. Not only that, but they contracted with Obelisk to make an ASIC, then another player beat them to market. Lol. Idiots. I stopped dual mining with Sia because it just wasn't worth it.

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  4. #304
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    Re: Crypto currency discussion

    Read this yesterday: Here's How Much It Costs to Mine 1 Bitcoin in the U.S. -- The Motley Fool

    The cost to mine one bitcoin in the United States

    According to a recently published analysis conducted by Elite Fixtures, which examined the electricity costs of 115 countries, the United States ranked as the 40th cheapest to mine a single bitcoin, with an average cost of $4,758. But given that bitcoin has shed more than 55% of its value since nearing $20,000 per coin in December, the margin to mine bitcoin has tumbled from as much as $15,000 per coin to less than $4,000 per coin in the U.S.

    Of course, bitcoin miners in the U.S. are in considerably better shape in terms of margin relative to some other countries. A total of 24 countries examined by Elite Fixutres had mining costs for a single bitcoin that topped $10,000, with South Korean electricity costs pumping its aggregate bitcoin mining expense above $26,000 per token. That's more than three times higher than what each bitcoin is currently worth! In fact, taking into account bitcoin's move lower to about $7,800 within the past week, miners in 41 of the 115 countries examined would probably lose money mining bitcoin.
    Obviously as an average of the US it ranges depending on state......

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  5. #305
    Lifer ilikenapalm's Avatar
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    Re: Crypto currency discussion

    The cost of power in New England is higher than anywhere else in the country with the exception of Hawaii. I can't imagine it's at all profitable here. 40th cheapest probably takes into account states with low (~$0.03/kWh) power rates like Oregon and Washington. I'm paying around $0.23/kWh in CT. It's probably close to that in Mass as well.

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  6. #306
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    Mining BTC is for the fuckin birds. If you didn't 5 years ago, you missed out.

    Anyone mining electroneum?

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  7. #307
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    Most coins are creepin back up, little by little.....

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  8. #308
    Senior Member capitalcrew's Avatar
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    Re: Crypto currency discussion

    Any of you guys have your own bots for trading?

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  9. #309
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    Been a rough week for those with skin in the game.

    Lol for the John Oliver segment. HODLGANG!

    Shit be PLUNGIN. Did y'all get out in time to save some of your investments?

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  10. #310

    Re: Crypto currency discussion

    It was fun while it lasted. Got out slightly later that I should have but still on top.

    Many people I talk about in regards to crypto are encouraging me to buy LTC. I don’t have much faith though.

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  11. #311
    Senior Member capitalcrew's Avatar
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    Re: Crypto currency discussion

    If I wasn't fucked from it crashing I'd be buying everything I could right now.

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  12. #312
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    Re: Crypto currency discussion

    Nanopool's XMR hashrate has gone to less than half of what it was when I was participating, XMR is at $213 which is about half of what it was then... but the network has rate and difficulty is as high as ever. Looking at the pool distribution, 77% of Monero mining is by 'unknown' pools/miners. Looks like that's been botnetted all to hell.

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  13. #313
    Lifer NPDCPA's Avatar
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    Re: Crypto currency discussion

    I'm a CPA and have done about a dozen tax returns for crypto speculators, some of these people being experienced securities market gamblers. The best one, despite $400K in transactions, managed $3,500 a short-term gain. The rest threw money away.

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  14. #314
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    Re: Crypto currency discussion

    Quote Originally Posted by NPDCPA View Post
    experienced securities market gamblers.
    I chose not to partake in any crypto trading, but as someone who fits your description, I gotta say, that’s the first time I’ve heard that phrase and I like it!

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  15. #315
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    Re: Crypto currency discussion

    XRP is plummeting. I might buy some more.

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  16. #316
    Senior Member capitalcrew's Avatar
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    Re: Crypto currency discussion

    Quote Originally Posted by maxim_X View Post
    XRP is plummeting. I might buy some more.
    You gotta be careful with posts like this lol. It's still hangin around 68-69 cents

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  17. #317
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    Re: Crypto currency discussion

    Quote Originally Posted by TheIglu View Post
    Been a rough week for those with skin in the game.

    Lol for the John Oliver segment. HODLGANG!

    Shit be PLUNGIN. Did y'all get out in time to save some of your investments?
    #HODLGANG #HODLGANG #HODLGANG!!



    Ok I can't resist:

    YouTube

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  18. #318
    Professor of Philosphy Cerberus's Avatar
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  19. #319
    Senior Member capitalcrew's Avatar
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  20. #320
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    It seems to be creeping back up slowly. So much like any other commodity. Quick drops, slow rises.

    Still curious which big players will keep on keepin on and which currencies fail after the next big shakeout. They seem to happen every few years.

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  21. #321
    Senior Member capitalcrew's Avatar
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    Re: Crypto currency discussion

    Coming back a little bit yeah, but we've said that more than once in the last few months. Let's see how things look in a couple weeks lol.

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  22. #322
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    I don’t see it getting back to December levels for another year or so.

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  23. #323
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    Re: Crypto currency discussion

    I'll be waiting for my moment to hop out.

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  24. #324
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    Re: Crypto currency discussion

    Anyone participate in ICO's?

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    Last edited by jwm2k3; 03-22-18 at 10:14 PM.
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  25. #325
    Super Moderator TheIglu's Avatar
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    Re: Crypto currency discussion

    Couple interesting tidbits over the last few days:

    1. Ethereum network is considering a hard fork to resist the Bitmain ASIC's that were recently assumed, but until now weren't officially announced. Explains the huge uptick in hashrate over the last few months. If the community votes for a hard fork, which it is widely expected to pass, then the attempt will be made to render Bitmain's ASIC miner obsolete.

    2. Monero just hard forked last night due to this exact reason. The network hash rate took a dive and we should see the difficulty drop in the next 24 hours or so. As it turns out, it was Bitmain's ASIC's doing the huge increase in hash rate, not malware infected servers on the large pools. We'll see if this theory pans out in the next couple days.

    3. George Soros has been reported to be setting up a fund to invest in crypto. That's another big traditional investor getting in. So far we seem to have an 90/10 divide between the doomsdayers and the believers of crypto.

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