Take a look at some like Hoqu, Dadi and a current favorite CAPP... it’s an ecosystem of AR/VR/3D content. Website is lots of fun too lol Cappasity - ( New Window )
Another day goes by and my money stuck on Binance. Â
If I wanted to invest in an ICO then how is that done?
Every ICO is different with different procedures, dates, bonuses etc. but you go directly through the project itself and generally purchase tokens on their website with a new wallet you've created and transfer from your own wallet like MyEtherWallet (not from an exchange). Great article below
If I wanted to invest in an ICO then how is that done?
Every ICO is different with different procedures, dates, bonuses etc. but you go directly through the project itself and generally purchase tokens on their website with a new wallet you've created and transfer from your own wallet like MyEtherWallet (not from an exchange). Great article below
Help investing in an ICO - ( New Window )
I bought it when I was first starting out, maybe made $80 off of it and then sold it. Seems like it has tanked, because they "marred by delays and bugs." Is it something to look at again?
very intereting topic to read up on throughout the various forums. I had the other one bookmarked but can't find it.
I just setup my account on CoinBase last night, and I planned on picking up some Ethereum this weekend. I was going to use that as a medium to exchange for other currencies like XRP. I downloaded the Binance app as suggested on here, but all new registrations seem to be on hold, when I get to the verification process.
What would be the best way to go from Ethereum to XRP? I was on Changelly as well and XRP doesn't pop up in the dropdown for conversion.
I bought it when I was first starting out, maybe made $80 off of it and then sold it. Seems like it has tanked, because they "marred by delays and bugs." Is it something to look at again?
At best it's amateur hour all the time from the developer to the "official" marketing team. At worst it's a complete scam: superficial updates and a product that doesn't actually do what they claim. Google XVGWhale and the New Year Eve deadline fiasco.
In comment 13773238 ManningLobsItBurressAlone said:
Quote:
very intereting topic to read up on throughout the various forums. I had the other one bookmarked but can't find it.
I just setup my account on CoinBase last night, and I planned on picking up some Ethereum this weekend. I was going to use that as a medium to exchange for other currencies like XRP. I downloaded the Binance app as suggested on here, but all new registrations seem to be on hold, when I get to the verification process.
What would be the best way to go from Ethereum to XRP? I was on Changelly as well and XRP doesn't pop up in the dropdown for conversion.
XRP is up and down on Changelly. Shapeshift.io has it as well but I think the rates are slightly better on Changelly.
In comment 13773238 ManningLobsItBurressAlone said:
Quote:
very intereting topic to read up on throughout the various forums. I had the other one bookmarked but can't find it.
I just setup my account on CoinBase last night, and I planned on picking up some Ethereum this weekend. I was going to use that as a medium to exchange for other currencies like XRP. I downloaded the Binance app as suggested on here, but all new registrations seem to be on hold, when I get to the verification process.
What would be the best way to go from Ethereum to XRP? I was on Changelly as well and XRP doesn't pop up in the dropdown for conversion.
XRP is up and down on Changelly. Shapeshift.io has it as well but I think the rates are slightly better on Changelly.
I'm created accounts on GDAX and Binance and waiting for funds to hit. Been doing a lot of reading. Thanks to this group for all the info.
I've read about a lot of coins that are very much liked but aren't available on Binance yet. Are there other reputable exchanges where the coins may hit sooner?
RE: Are any of you using anything besides Binance? Â
I'm created accounts on GDAX and Binance and waiting for funds to hit. Been doing a lot of reading. Thanks to this group for all the info.
I've read about a lot of coins that are very much liked but aren't available on Binance yet. Are there other reputable exchanges where the coins may hit sooner?
I also use Bittrex, but their fees can suck.
RE: Are any of you using anything besides Binance? Â
I'm created accounts on GDAX and Binance and waiting for funds to hit. Been doing a lot of reading. Thanks to this group for all the info.
I've read about a lot of coins that are very much liked but aren't available on Binance yet. Are there other reputable exchanges where the coins may hit sooner?
Normally its a crapshoot in terms of which coin is added on what exchange, but binance has a good number of lesser known coins currently and continues to add. Bittrex as well but they've been having problems and aren't taking new accounts.
And what are the best wallets to use? In the other discussion someone was talking about and not a mobile wallet what are peoples thoughts on that? Sneezing something like myetherwallet.com good enough?
And what are the best wallets to use? In the other discussion someone was talking about and not a mobile wallet what are peoples thoughts on that? Sneezing something like myetherwallet.com good enough?
Kucoin is a joke exchange with gems like DRGN and DBC, just added. rN too. And they have their own coin KCS you get profit shares of.
Right I saw some guy make $$$$ on dbc the other day Â
Bitcoin testing 17K continuously but unable to break through. The bears won that battle so the bulls have moved to LTC where they have been very successful in the last 12 hours.
I used Kucoin to buy some RaiBlocks (XRB). I wanted to pick up XRB before Binance begins carrying it. I think it will pop a bit when it hits Binance. I bought at $30. A very small amount, just 22.
I wanted to buy Ripple so I opened a Binance account. I bought some, gambling that Coinbase will carry it soon. If that happens, it will pop when it hits Coinbase.
I decided to play a bit with "shitcoins" on Binance. So I bought small amounts of Tron (TRX) and Gifto (GTO). I think TRX was a poor decision but I think GTO should work out okay.
I also bought some Stellar (XLM) and I think that will work out well too.
All of this buying was done with Bitcoin profits. I used $9700 to "seed" some Bitcoin and Litecoin holdings. I sold enough of both to get my $9700 back plus $3100. I bought 2 shares of Amazon and a nice bicycle with the $3100.
Now all my crypto holdings:
BTC
LTC
XRP
XLM
XRB
GTO
TRX
are gravy and there's no anxiety for me.
Use Reddit r/cryptocurrency to learn more. There's some good stuff there.
I may put some more of my cash into BTC on the next dip, but I have to think about that. But I managed that $9700 really well, and perhaps I can do that again.
in their basement. They had to install a new electrical panel to handle all of the power needed to keep these things running 24/7.
If this bitcoin thing keeps rolling, they are going to do very well with these things. Now, they are looking to buy 100 more mines and move them to a small warehouse.....crazy
in their basement. They had to install a new electrical panel to handle all of the power needed to keep these things running 24/7.
If this bitcoin thing keeps rolling, they are going to do very well with these things. Now, they are looking to buy 100 more mines and move them to a small warehouse.....crazy
I'd love to see the numbers on this project--hardware, electric costs, etc.
I think we're seeing the last few days of this massive alt pump. That being said, on a tip, I sold a few LTC and NEO to get into Vechain (VEN). It currently has a very low market cap for the announcements that the team has made. It dipped this morning..might be a good entry point!
Pretty ugly day, but I really need to lock my mind in on the weekend pumps. It's pretty reliable, there's going to be a weekend pump and a Monday dump.
I need to stop buying Thursday through Sunday!
And I just told my nephew he might want to look into buying crypto. His mother will kill me.
Pretty ugly day, but I really need to lock my mind in on the weekend pumps. It's pretty reliable, there's going to be a weekend pump and a Monday dump.
I need to stop buying Thursday through Sunday!
And I just told my nephew he might want to look into buying crypto. His mother will kill me.
This would reliably happen every weekend last summer. Either a weekend pump or weekend dump, followed by the opposite action on the following Monday.
It tapered off as we entered October/November, but I would love to get back to that kind of market.
Hard to get upset over a red wave in this sea of green..
Pretty ugly day, but I really need to lock my mind in on the weekend pumps. It's pretty reliable, there's going to be a weekend pump and a Monday dump.
I need to stop buying Thursday through Sunday!
And I just told my nephew he might want to look into buying crypto. His mother will kill me.
This would reliably happen every weekend last summer. Either a weekend pump or weekend dump, followed by the opposite action on the following Monday.
It tapered off as we entered October/November, but I would love to get back to that kind of market.
Hard to get upset over a red wave in this sea of green..
Very true, I've had steady gains almost every day this year until today. And it's already starting to rebound.
I own a few litecoins and it's been really boring after some initial Â
My guess is that there will be a bubble bursting, very similar to the dot com collapse.
There were some great ideas in the dot com boom, like eBay. And a lot of crap too.
Crypto seems to be just like that. There ought to be a collapse, but there are some good ideas in crypto land, and there will be survivors. Anyway, that's the way I see it.
And I think the bubble burst is probably at least a year out. In the meantime, if I'm conservative and not greedy, I think I can make some good money and not get burnt when the collapse comes.
bubble, it's the manner of investing. A bubble is to be expected IMO when prices rise so sharply in any investment in such a short period of time - exacerbated when that item is new and people are speculating, we've seen it with real estate, dot-com stocks, and more just in my adult life time. but with those, they were hard assets backed by assets.
These are not.
from what I understand there is no FDIC for any BTC or crypto purchases, if your money is gone your money is gone. There is no one to pursue and no one to complain to/sue.
Invest what you can afford to lose (I like some of these plays, but man until I have cash in my bank account - which is semi-ironic - I won't feel comfortable with any of them - especially the currencies.)
like this 100 billion dollars that vanished today per WSJ:
Quote:
A Crypto Website Changes Its Data, and $100 Billion in Market Value Vanishes
Bitcoin, Ethereum and XRP fall sharply after Coinmarketcap.com removes data from some South Korean exchanges
By Paul Vigna
Jan. 8, 2018 3:25 p.m. ET
Prices for some of the most popular cryptocurrencies dropped sharply Monday. One apparent reason: an adjustment from a popular website on its digital-currency price quotes.
A website called coinmarketcap.com on Monday removed da....
bubble, it's the manner of investing. A bubble is to be expected IMO when prices rise so sharply in any investment in such a short period of time - exacerbated when that item is new and people are speculating, we've seen it with real estate, dot-com stocks, and more just in my adult life time. but with those, they were hard assets backed by assets.
These are not.
from what I understand there is no FDIC for any BTC or crypto purchases, if your money is gone your money is gone. There is no one to pursue and no one to complain to/sue.
Invest what you can afford to lose (I like some of these plays, but man until I have cash in my bank account - which is semi-ironic - I won't feel comfortable with any of them - especially the currencies.)
like this 100 billion dollars that vanished today per WSJ:
Quote:
A Crypto Website Changes Its Data, and $100 Billion in Market Value Vanishes
Bitcoin, Ethereum and XRP fall sharply after Coinmarketcap.com removes data from some South Korean exchanges
By Paul Vigna
Jan. 8, 2018 3:25 p.m. ET
Prices for some of the most popular cryptocurrencies dropped sharply Monday. One apparent reason: an adjustment from a popular website on its digital-currency price quotes.
A website called coinmarketcap.com on Monday removed da....
need a subscription to read the full article. Link - ( New Window )
Vanished? Not even close to true.
People panicked and sold because CoinMarketCap took off Korean exchanges when calculating the average price of coins from multiple exchanges, which is a good thing since Korea trades much higher than other countries, causing inaccuracies in price from CMC to exchange. For example, LTC is/was $410 in Korea.
Prices are already back where they were last night for the most part. And that’s an article behind a pay wall? LOL
in their basement. They had to install a new electrical panel to handle all of the power needed to keep these things running 24/7.
If this bitcoin thing keeps rolling, they are going to do very well with these things. Now, they are looking to buy 100 more mines and move them to a small warehouse.....crazy
I'd love to see the numbers on this project--hardware, electric costs, etc.
He was able to purchase the mines for $1k each. This was direct from China when you were able to buy them direct. Now from what I understand you would have to pay about $6k for them. He had an electrician install a new dedicated panel in his basement. My guess is this cost about $2500. He says it uses A LOT of power. Each one is 1400 watts 24/7 which is like a hair dryer. They are putting out so much heat with the fans that it is impacting the total temp in his basement. Up to 90 degrees. Right now, they are generating (after subtracting electrical costs) about $500 per day. So, after 34 days he is breaking even on the mine purchases. This does not include any additional dollars he gets for being inside of the network (solving algorithms), etc. I dont even understand all of that to be honest. The whole thing just makes me nervous.
So, he is not buying bitcoins. He is producing them.
it's all from the Wall Street Journal article. Also referenced on zerohedge. None of it was my own opinion which I did offer as only invest what you can afford to lose, none of these investments, to my knowledge are protected, even though I invest myself, I felt it appropriate to caution investors.
Here is some of the zero hedge article that references WSJ which I don't necessarily consider a reliable news source, but for financials I see them with no conflict:
Quote:
....More than $100 billion of the sector’s total market value was erased over the last 24 hours, according to the site. On Sunday, it stood at $835 billion. On Monday, it fell to as low as $683 billion, and lately was at $722 billion. And ironically, or perhaps patly, the catalyst behind these sharp price moves had nothing to do with actual, market-clearing, price....
it's all from the Wall Street Journal article. Also referenced on zerohedge. None of it was my own opinion which I did offer as only invest what you can afford to lose, none of these investments, to my knowledge are protected, even though I invest myself, I felt it appropriate to caution investors.
Here is some of the zero hedge article that references WSJ which I don't necessarily consider a reliable news source, but for financials I see them with no conflict:
Quote:
....More than $100 billion of the sector’s total market value was erased over the last 24 hours, according to the site. On Sunday, it stood at $835 billion. On Monday, it fell to as low as $683 billion, and lately was at $722 billion. And ironically, or perhaps patly, the catalyst behind these sharp price moves had nothing to do with actual, market-clearing, price....
Link - read or not - ( New Window )
Wasn’t attacking you, pj. Apologies if it came off that way.
I was attacking the article. To me, t’s only purpose is to spread doubt about the industry when they use words such as “vanish” and “erased” when referring to sells. Those words make it seem that the exchanges got hacked and people lost money without their knowledge.
Not sure if you’ve been following this thread but I ALWAYS tell people to do their own research and to be extremely cautious with leaving funds on the exchanges. Agree with everything you said regarding that.
As the end of the day, MSM gonna MSM though. Not surprising.
it's all from the Wall Street Journal article. Also referenced on zerohedge. None of it was my own opinion which I did offer as only invest what you can afford to lose, none of these investments, to my knowledge are protected, even though I invest myself, I felt it appropriate to caution investors.
Here is some of the zero hedge article that references WSJ which I don't necessarily consider a reliable news source, but for financials I see them with no conflict:
Quote:
....More than $100 billion of the sector’s total market value was erased over the last 24 hours, according to the site. On Sunday, it stood at $835 billion. On Monday, it fell to as low as $683 billion, and lately was at $722 billion. And ironically, or perhaps patly, the catalyst behind these sharp price moves had nothing to do with actual, market-clearing, price....
Link - read or not - ( New Window )
Wasn’t attacking you, pj. Apologies if it came off that way.
I was attacking the article. To me, t’s only purpose is to spread doubt about the industry when they use words such as “vanish” and “erased” when referring to sells. Those words make it seem that the exchanges got hacked and people lost money without their knowledge.
Not sure if you’ve been following this thread but I ALWAYS tell people to do their own research and to be extremely cautious with leaving funds on the exchanges. Agree with everything you said regarding that.
As the end of the day, MSM gonna MSM though. Not surprising.
Oh, I agree with that. Problem is the majority of the MSM charged with writing about investing doesn't understand the crypto currencies, block chain, or other details on the topic, probably a lot like the dot com boom and they had to write about the potential for the "Information super highway" and any company with an "e-" or "i-" before their name was going to explode.
but not many people could tell you why. It's similar, a lot of people got burned, a lot of people made money, but in the end there were smart people on both sides and luck played a big part in which side you wound up on - especially for the people who didn't understand the tech.
I was only a kid during dotcom so you would definitely know better than me when it comes to similarities between the two, but you are 100% spot on about those writing the articles about investing in crypto not having a clue about what they are writing
'So, he is not buying bitcoins. He is producing them.' Â
Yes, I understand it completely. I was curious of the #s because individuals abandoned mining bitcoins several years ago due to the cost. Ethereum is a popular coin for small miners now, they've driven up graphic card costs.
There are warehouses in China with near-free electricity doing the bulk of bitcoin mining right now, although that may be changing soon. Can't imagine being able to compete with them.
One of the coins I bought into this morning. This stuff is pretty exciting albeit a little addicting.
Game.com is bullshit.
35% to founders.
10% to piewo.
Guess who started piewo? ;)
Nice gains today tron. But get the fuck out.
So I opened a Binance account today and I'm waiting for a transfer of .25 Bitcoin from Coinbase to Binance to complete.
Then I'll buy Ripple.
I agree when Coinbase supports Ripple, then Ripple will explode.
Don't transfer btc.
Transfer eth or Ltc. We're talking fees in the range of $30 vs $.60.
Coinbase is not going to add xrp. This is pure rumor.
I thought Binance was closed to new accounts? It was for a bit at least.
Cappasity - ( New Window )
Every ICO is different with different procedures, dates, bonuses etc. but you go directly through the project itself and generally purchase tokens on their website with a new wallet you've created and transfer from your own wallet like MyEtherWallet (not from an exchange). Great article below
Help investing in an ICO - ( New Window )
Quote:
If I wanted to invest in an ICO then how is that done?
Every ICO is different with different procedures, dates, bonuses etc. but you go directly through the project itself and generally purchase tokens on their website with a new wallet you've created and transfer from your own wallet like MyEtherWallet (not from an exchange). Great article below
Help investing in an ICO - ( New Window )
Thank you.
I just setup my account on CoinBase last night, and I planned on picking up some Ethereum this weekend. I was going to use that as a medium to exchange for other currencies like XRP. I downloaded the Binance app as suggested on here, but all new registrations seem to be on hold, when I get to the verification process.
What would be the best way to go from Ethereum to XRP? I was on Changelly as well and XRP doesn't pop up in the dropdown for conversion.
At best it's amateur hour all the time from the developer to the "official" marketing team. At worst it's a complete scam: superficial updates and a product that doesn't actually do what they claim. Google XVGWhale and the New Year Eve deadline fiasco.
I just setup my account on CoinBase last night, and I planned on picking up some Ethereum this weekend. I was going to use that as a medium to exchange for other currencies like XRP. I downloaded the Binance app as suggested on here, but all new registrations seem to be on hold, when I get to the verification process.
What would be the best way to go from Ethereum to XRP? I was on Changelly as well and XRP doesn't pop up in the dropdown for conversion.
XRP is up and down on Changelly. Shapeshift.io has it as well but I think the rates are slightly better on Changelly.
Quote:
very intereting topic to read up on throughout the various forums. I had the other one bookmarked but can't find it.
I just setup my account on CoinBase last night, and I planned on picking up some Ethereum this weekend. I was going to use that as a medium to exchange for other currencies like XRP. I downloaded the Binance app as suggested on here, but all new registrations seem to be on hold, when I get to the verification process.
What would be the best way to go from Ethereum to XRP? I was on Changelly as well and XRP doesn't pop up in the dropdown for conversion.
XRP is up and down on Changelly. Shapeshift.io has it as well but I think the rates are slightly better on Changelly.
"Up and down" in availability that is.
I've read about a lot of coins that are very much liked but aren't available on Binance yet. Are there other reputable exchanges where the coins may hit sooner?
I've read about a lot of coins that are very much liked but aren't available on Binance yet. Are there other reputable exchanges where the coins may hit sooner?
I also use Bittrex, but their fees can suck.
I've read about a lot of coins that are very much liked but aren't available on Binance yet. Are there other reputable exchanges where the coins may hit sooner?
Normally its a crapshoot in terms of which coin is added on what exchange, but binance has a good number of lesser known coins currently and continues to add. Bittrex as well but they've been having problems and aren't taking new accounts.
Kucoin is a joke exchange with gems like DRGN and DBC, just added. rN too. And they have their own coin KCS you get profit shares of.
Seems it’s ready for another run up!
Thinking of moving some currency from Binance to KuCoin to purchase some DRGN.
I used Kucoin to buy some RaiBlocks (XRB). I wanted to pick up XRB before Binance begins carrying it. I think it will pop a bit when it hits Binance. I bought at $30. A very small amount, just 22.
I wanted to buy Ripple so I opened a Binance account. I bought some, gambling that Coinbase will carry it soon. If that happens, it will pop when it hits Coinbase.
I decided to play a bit with "shitcoins" on Binance. So I bought small amounts of Tron (TRX) and Gifto (GTO). I think TRX was a poor decision but I think GTO should work out okay.
I also bought some Stellar (XLM) and I think that will work out well too.
All of this buying was done with Bitcoin profits. I used $9700 to "seed" some Bitcoin and Litecoin holdings. I sold enough of both to get my $9700 back plus $3100. I bought 2 shares of Amazon and a nice bicycle with the $3100.
Now all my crypto holdings:
BTC
LTC
XRP
XLM
XRB
GTO
TRX
are gravy and there's no anxiety for me.
Use Reddit r/cryptocurrency to learn more. There's some good stuff there.
I may put some more of my cash into BTC on the next dip, but I have to think about that. But I managed that $9700 really well, and perhaps I can do that again.
Giving 500 for first 100k users for betatesting
Link - ( New Window )
If this bitcoin thing keeps rolling, they are going to do very well with these things. Now, they are looking to buy 100 more mines and move them to a small warehouse.....crazy
Sold my BTC at $17k which was nice. May buy more if it keeps dipping.
If this bitcoin thing keeps rolling, they are going to do very well with these things. Now, they are looking to buy 100 more mines and move them to a small warehouse.....crazy
I'd love to see the numbers on this project--hardware, electric costs, etc.
I think we're seeing the last few days of this massive alt pump. That being said, on a tip, I sold a few LTC and NEO to get into Vechain (VEN). It currently has a very low market cap for the announcements that the team has made. It dipped this morning..might be a good entry point!
I need to stop buying Thursday through Sunday!
And I just told my nephew he might want to look into buying crypto. His mother will kill me.
I need to stop buying Thursday through Sunday!
And I just told my nephew he might want to look into buying crypto. His mother will kill me.
This would reliably happen every weekend last summer. Either a weekend pump or weekend dump, followed by the opposite action on the following Monday.
It tapered off as we entered October/November, but I would love to get back to that kind of market.
Hard to get upset over a red wave in this sea of green..
Quote:
Pretty ugly day, but I really need to lock my mind in on the weekend pumps. It's pretty reliable, there's going to be a weekend pump and a Monday dump.
I need to stop buying Thursday through Sunday!
And I just told my nephew he might want to look into buying crypto. His mother will kill me.
This would reliably happen every weekend last summer. Either a weekend pump or weekend dump, followed by the opposite action on the following Monday.
It tapered off as we entered October/November, but I would love to get back to that kind of market.
Hard to get upset over a red wave in this sea of green..
Very true, I've had steady gains almost every day this year until today. And it's already starting to rebound.
There were some great ideas in the dot com boom, like eBay. And a lot of crap too.
Crypto seems to be just like that. There ought to be a collapse, but there are some good ideas in crypto land, and there will be survivors. Anyway, that's the way I see it.
And I think the bubble burst is probably at least a year out. In the meantime, if I'm conservative and not greedy, I think I can make some good money and not get burnt when the collapse comes.
These are not.
from what I understand there is no FDIC for any BTC or crypto purchases, if your money is gone your money is gone. There is no one to pursue and no one to complain to/sue.
Invest what you can afford to lose (I like some of these plays, but man until I have cash in my bank account - which is semi-ironic - I won't feel comfortable with any of them - especially the currencies.)
like this 100 billion dollars that vanished today per WSJ:
Bitcoin, Ethereum and XRP fall sharply after Coinmarketcap.com removes data from some South Korean exchanges
By Paul Vigna
Jan. 8, 2018 3:25 p.m. ET
Prices for some of the most popular cryptocurrencies dropped sharply Monday. One apparent reason: an adjustment from a popular website on its digital-currency price quotes.
A website called coinmarketcap.com on Monday removed da....
need a subscription to read the full article.
Link - ( New Window )
These are not.
from what I understand there is no FDIC for any BTC or crypto purchases, if your money is gone your money is gone. There is no one to pursue and no one to complain to/sue.
Invest what you can afford to lose (I like some of these plays, but man until I have cash in my bank account - which is semi-ironic - I won't feel comfortable with any of them - especially the currencies.)
like this 100 billion dollars that vanished today per WSJ:
Quote:
A Crypto Website Changes Its Data, and $100 Billion in Market Value Vanishes
Bitcoin, Ethereum and XRP fall sharply after Coinmarketcap.com removes data from some South Korean exchanges
By Paul Vigna
Jan. 8, 2018 3:25 p.m. ET
Prices for some of the most popular cryptocurrencies dropped sharply Monday. One apparent reason: an adjustment from a popular website on its digital-currency price quotes.
A website called coinmarketcap.com on Monday removed da....
need a subscription to read the full article. Link - ( New Window )
Vanished? Not even close to true.
People panicked and sold because CoinMarketCap took off Korean exchanges when calculating the average price of coins from multiple exchanges, which is a good thing since Korea trades much higher than other countries, causing inaccuracies in price from CMC to exchange. For example, LTC is/was $410 in Korea.
Prices are already back where they were last night for the most part. And that’s an article behind a pay wall? LOL
FUD.
Quote:
in their basement. They had to install a new electrical panel to handle all of the power needed to keep these things running 24/7.
If this bitcoin thing keeps rolling, they are going to do very well with these things. Now, they are looking to buy 100 more mines and move them to a small warehouse.....crazy
I'd love to see the numbers on this project--hardware, electric costs, etc.
He was able to purchase the mines for $1k each. This was direct from China when you were able to buy them direct. Now from what I understand you would have to pay about $6k for them. He had an electrician install a new dedicated panel in his basement. My guess is this cost about $2500. He says it uses A LOT of power. Each one is 1400 watts 24/7 which is like a hair dryer. They are putting out so much heat with the fans that it is impacting the total temp in his basement. Up to 90 degrees. Right now, they are generating (after subtracting electrical costs) about $500 per day. So, after 34 days he is breaking even on the mine purchases. This does not include any additional dollars he gets for being inside of the network (solving algorithms), etc. I dont even understand all of that to be honest. The whole thing just makes me nervous.
So, he is not buying bitcoins. He is producing them.
it's all from the Wall Street Journal article. Also referenced on zerohedge. None of it was my own opinion which I did offer as only invest what you can afford to lose, none of these investments, to my knowledge are protected, even though I invest myself, I felt it appropriate to caution investors.
Here is some of the zero hedge article that references WSJ which I don't necessarily consider a reliable news source, but for financials I see them with no conflict:
Link - read or not - ( New Window )
Quote:
But “Vanished” is simply not true.
it's all from the Wall Street Journal article. Also referenced on zerohedge. None of it was my own opinion which I did offer as only invest what you can afford to lose, none of these investments, to my knowledge are protected, even though I invest myself, I felt it appropriate to caution investors.
Here is some of the zero hedge article that references WSJ which I don't necessarily consider a reliable news source, but for financials I see them with no conflict:
Quote:
....More than $100 billion of the sector’s total market value was erased over the last 24 hours, according to the site. On Sunday, it stood at $835 billion. On Monday, it fell to as low as $683 billion, and lately was at $722 billion. And ironically, or perhaps patly, the catalyst behind these sharp price moves had nothing to do with actual, market-clearing, price....
Link - read or not - ( New Window )
Wasn’t attacking you, pj. Apologies if it came off that way.
I was attacking the article. To me, t’s only purpose is to spread doubt about the industry when they use words such as “vanish” and “erased” when referring to sells. Those words make it seem that the exchanges got hacked and people lost money without their knowledge.
Not sure if you’ve been following this thread but I ALWAYS tell people to do their own research and to be extremely cautious with leaving funds on the exchanges. Agree with everything you said regarding that.
As the end of the day, MSM gonna MSM though. Not surprising.
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In comment 13778837 Giants in 07 said:
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But “Vanished” is simply not true.
it's all from the Wall Street Journal article. Also referenced on zerohedge. None of it was my own opinion which I did offer as only invest what you can afford to lose, none of these investments, to my knowledge are protected, even though I invest myself, I felt it appropriate to caution investors.
Here is some of the zero hedge article that references WSJ which I don't necessarily consider a reliable news source, but for financials I see them with no conflict:
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....More than $100 billion of the sector’s total market value was erased over the last 24 hours, according to the site. On Sunday, it stood at $835 billion. On Monday, it fell to as low as $683 billion, and lately was at $722 billion. And ironically, or perhaps patly, the catalyst behind these sharp price moves had nothing to do with actual, market-clearing, price....
Link - read or not - ( New Window )
Wasn’t attacking you, pj. Apologies if it came off that way.
I was attacking the article. To me, t’s only purpose is to spread doubt about the industry when they use words such as “vanish” and “erased” when referring to sells. Those words make it seem that the exchanges got hacked and people lost money without their knowledge.
Not sure if you’ve been following this thread but I ALWAYS tell people to do their own research and to be extremely cautious with leaving funds on the exchanges. Agree with everything you said regarding that.
As the end of the day, MSM gonna MSM though. Not surprising.
Oh, I agree with that. Problem is the majority of the MSM charged with writing about investing doesn't understand the crypto currencies, block chain, or other details on the topic, probably a lot like the dot com boom and they had to write about the potential for the "Information super highway" and any company with an "e-" or "i-" before their name was going to explode.
but not many people could tell you why. It's similar, a lot of people got burned, a lot of people made money, but in the end there were smart people on both sides and luck played a big part in which side you wound up on - especially for the people who didn't understand the tech.
There are warehouses in China with near-free electricity doing the bulk of bitcoin mining right now, although that may be changing soon. Can't imagine being able to compete with them.
China plans to kill most of the world’s bitcoin mining operations - ( New Window )