Crypto currency discussion

[Cerberus]

Coinbase Ordered to Turn Over Identities of 14,355 Cryptocurrency Traders to the IRS - Motherboard

thats going to be bad news for a lot of people..

[snwbrdr435]

thats going to be bad news for a lot of people..

My guess on why things crashed mid day among other things, and why coinbase froze most of the afternoon.

[capitalcrew]

Someone sold off a ton, or a lot of people sold off a ton cumulatively. If they had some info ahead of time yeah that could be a part of it. I'm not sure that really gets them out of anything though. Your account history is still going to get turned over

[Chippertheripper]

coinbase is fucked right now. I couldn't make a buy this morning.

[Pigman]

Anyone into Mining................

[capitalcrew]

Yeah it was fucked yesterday when I was trying to buy it after the drop. I'm still getting errors today but I haven't tried to buy. I still think it's going lower.

- - - Updated - - -

Anyone into Mining................

If you're not already in it you're pretty much out of luck. The startup costs are way too high to get any ROI with the way things are now. You might have better luck looking into mining a different coin.

[TheIglu]

Mining is easy, and expensive.

Electricity costs alone typically eat up most profit, nevermind purchasing the hardware and the increasing difficulty.

In other news, this thread reminded me of a pool I setup a while back and ran for a short time. Checked my BTC balance, transferred it out to my wallet (fee at up half the $$$) and now I'm sittin on $12 worth of Bitcoin.

BIG MON$Y

[Paul_E_D]

And this is why I never bought. It would have been pretty much blind gambling on my part as I don't understand half of what is/has happened.

[jasnmar]

All of my bitcoin was lost in a turrible boating accident.

These sort of shenanigans are why many people advise not to keep your bitcoins in exchanges (as well as potential security concerns).

[snwbrdr435]

All of my bitcoin was lost in a turrible boating accident.

These sort of shenanigans are why many people advise not to keep your bitcoins in exchanges (as well as potential security concerns).

I think my guns were on that boat too!

[snwbrdr435]

Starting to creep back up, over 10k and climbing.

[capitalcrew]

Yeah looks like it's gaining some momentum here in the few hours. That's good news for me.. I was out of money to buy in with lol

[TheIglu]

Is it just me or does SiaCoin (out of Cambridge actually) sound just like last season of Silicon Valley?

[Falko]

Did you see the guy that had his mining operation set up in the back of his Tesla and would run it using the Tesla charging stations?

[TheIglu]

That's a damn good setup right there. But man, the initial investment is nuts.

Really, no matter what, if you have the hardware to mine already, it's a good use of it during times you aren't utilizing it. For example, big high end GPU's in gaming machines. But people who buy hardware to mine are just chasing the rabbit.

Electricity costs alone will eat up most of your potential profit, nevermind AC if you have to keep a few of those rigs cool. Just like a server farm that does some serious number crunching.

Beyond that, once someone develops an ASIC miner for a particular crypto, fuhgettaboutit for using anything non-dedicated. Look what happened with BTC. Used to be able to CPU mine, then only GPU mining was somewhat worthwhile, now it's dedicated ASIC or just isn't worth it.

[capitalcrew]

Get a DBA /EIN, buy Tesla as business asset, set up to mine, park in free charging station..... Neat.

[snwbrdr435]

Over 12k and climbing...

[Chippertheripper]

12889.

I’m almost certain to hang on until it collapses.

[snwbrdr435]

12889.

I’m almost certain to hang on until it collapses.

Over 14k now

[DuncanMoto]

Anyone into Mining................

I'm dabbling.
How about you?

[DuncanMoto]

I put my 2 CPU's and 1 GPU to work mining Electrum. I'm getting about 80 per day. Not sure if it will pay off, but the culture and learning is fun.
I would be losing money trying to mine any of the big coins.

[snwbrdr435]

Up to 16k now, will be interesting to see if this holds through till the weekend\


Edit make that 17k

[Tekime]

Make that $18.9k

[Paul_E_D]

Fuck me. I have wanted to invest for a while now. Last week would have been the time

Sent from my SM-G930V using Tapatalk

[capitalcrew]

Don't worry, it crashed back down to 15is lol. Now up to around 17 again.

I sold at 18.5 and got back in around 16.8