The State of Cryptocurrency

[MatGrow]

It's never stable. All the time changing.
Where to invest better?

 

[yotano211]

It's never stable. All the time changing.
Where to invest better?

If you think that crypto is some kind of an investment you must be crazy.

 

[R-T-B]

If you think that crypto is some kind of an investment you must be crazy.

I mean, it could be treated as such. As a very high risk section of a portfolio. But certainly not one you expect to pan out and NEVER as a high percentace of your holdings.

If you want safe and stable growth look into bonds, or a certificate of deposit.

EDIT: What I spoke is truth. Why the downvotes?

 

[silkstone]

If you think that crypto is some kind of an investment you must be crazy.

It would have been a good investment 2-10 years ago. TBH I'm only holding crypto now as I'm kicking myself from my poor decisions before. I'd started mining bitcoin, back when you could get a 1 BTC a day from a 4850. I told myself that I'd just leave the computer on to mine them for a few months and save them for retirement on the very low chance that they'd increase. I went through a difficult period a few months after starting and ended up losing and selling what I'd mined and lost all interest in crypto. Big mistake. The second chance was back in late 2016 when I came across ETH, I was considering building some mining rigs to make a little profit every month and get back into the game, but I was saving for the deposit of an apartment, so I didn't want to risk it.

I'm in a better position financially now, though by no means rich. But, I can afford the electricity it uses and I paid for my harware with coins sold in the November pre-peaks. I know it is totally FOMO, but after missing the boat 2 times, I'd regret not doing saving them, if they went up. So at the end of the day, what I'm paying in electricity to mine is basically the cost to avoid future regrets.

I don't actually think that crypto will go much higher and we certainly won't see the gains we did in the 2017 period. I do think that some coins will find useful applications which is why I try to diversify what I mine. Sadly, for the past 6 months, while the amount of coins I've accumulated keeps raising, the $$$ value remains the same (ignoring the swings). The market seems to be in perpetual decline as people lose interest. I think that it's only a matter of time until adoption becomes more widespread and the value of some of the coins goes up. One thing I am happy for is that despite all the doom and gloom predictions, we have yet to see a dot-com like crash, with the exception of some shit-coins (man, I lost a bunch while focusing mining ZCL to get the BTCP airdrops!).

I mean, it could be treated as such. As a very high risk section of a portfolio. But certainly not one you expect to pan out and NEVER as a high percentace of your holdings.

If you want safe and stable growth look into bonds, or a certificate of deposit.

If you are in the states a ROTH IRA is a good investment, otherwise ETFs are pretty much the best thing for long term growth. That is unless you can afford to buy-to-rent decent property.

 

[trog100]

i have been into crypto for nearly a year now.. i built a miner just for fun.. then i bought some coin..

i have seen my stash grow to near $20000 us dollars at the crypto peak and shrink back down to as low as $6000 us.. i have some eth litecoin neo cardano and btc..

the future is an unknown and whilst i am still mining (to hold) i stopped buying coin back in december 1017.. will it go up who knows but btc is still up over %100 from when i first started.. the long term trend is still up..

i did chase the prices up a little too far when buying but it did all look too good to miss.. when you see your stash going up by $2000 overnight its hard not to keep buying more.. he he

as for what to invest your money in.. some say the entire stock market is way over bought and due for a crash they say the same about the bond market the term "everything bubble" is being used meaning nothing is stable and its all due for a crash..

when or if the markets crash gold and silver will rocket in value some say the same about bitcoin.. some say the opposite..

its said the price of real gold bullion or coins is governed by the price of comex paper gold which is how gold is traded.. now for the interesting bit.. they also say that for every ounce of real gold there are 500 paper claims on it.. all it takes is for a buyer or buyers to demand delivery in bullion instead of a paper certificate in US dollars and the whole lot will be exposed for the fraud that it has become.. gold will become "unobtainium" overnight.. it wont have a price it will simply not be available at any price..

a few gold or silver coins might be good things to buy even though just like crypto the current prices are very low and have recently gone down a fair bit and dont look good..

trog

ps.. the way the comex paper gold thing works is this.. when a buyer demands physical gold they have to supply it.. when they dont have it they have to go on the market and buy it at whatever price they can get it.. if the claims that for every real ounce they have there are 500 paper claims on it is true one can see the problem..

with fiat money and the ability to create more of it at will as governments can we also have fiat gold with the ability to create more of it at will.. it would seem to me that given this ability massive fraud and abuse is built into the system.. the power to create at will to solve short term problems will in the end result in massive run away inflation.. its happen to others and it will happen to us.. it does seem inevitable..

 

[yotano211]

It would have been a good investment 2-10 years ago. TBH I'm only holding crypto now as I'm kicking myself from my poor decisions before. I'd started mining bitcoin, back when you could get a 1 BTC a day from a 4850. I told myself that I'd just leave the computer on to mine them for a few months and save them for retirement on the very low chance that they'd increase. I went through a difficult period a few months after starting and ended up losing and selling what I'd mined and lost all interest in crypto. Big mistake. The second chance was back in late 2016 when I came across ETH, I was considering building some mining rigs to make a little profit every month and get back into the game, but I was saving for the deposit of an apartment, so I didn't want to risk it.

I'm in a better position financially now, though by no means rich. But, I can afford the electricity it uses and I paid for my harware with coins sold in the November pre-peaks. I know it is totally FOMO, but after missing the boat 2 times, I'd regret not doing saving them, if they went up. So at the end of the day, what I'm paying in electricity to mine is basically the cost to avoid future regrets.

I don't actually think that crypto will go much higher and we certainly won't see the gains we did in the 2017 period. I do think that some coins will find useful applications which is why I try to diversify what I mine. Sadly, for the past 6 months, while the amount of coins I've accumulated keeps raising, the $$$ value remains the same (ignoring the swings). The market seems to be in perpetual decline as people lose interest. I think that it's only a matter of time until adoption becomes more widespread and the value of some of the coins goes up. One thing I am happy for is that despite all the doom and gloom predictions, we have yet to see a dot-com like crash, with the exception of some shit-coins (man, I lost a bunch while focusing mining ZCL to get the BTCP airdrops!).



If you are in the states a ROTH IRA is a good investment, otherwise ETFs are pretty much the best thing for long term growth. That is unless you can afford to buy-to-rent decent property.

As an old analyst, I would never recommend yuppa suppa risks as investments. The things that you said are things that could of happened, and the people that held on to their BTC just got lucky that BTC prices increased the way they did.
I know how you feel, I started mining ETH when it was at around $25 and I sold all of my coins when I mined them instead of holding them. I could have had an extra $100k+ if only I held but I not care. I made some money and sold all my equipment back in Feb. I have 2 investment fourplex buildings so I'm doing good.

 

[silkstone]

As an old analyst, I would never recommend yuppa suppa risks as investments. The things that you said are things that could of happened, and the people that held on to their BTC just got lucky that BTC prices increased the way they did.
I know how you feel, I started mining ETH when it was at around $25 and I sold all of my coins when I mined them instead of holding them. I could have had an extra $100k+ if only I held but I not care. I made some money and sold all my equipment back in Feb. I have 2 investment fourplex buildings so I'm doing good.

The thing is, intellectually I know that, but still, missing out on a few hundred K to a million $ is still saddening and so I generally don't think about it. At the moment I have 1 mining rig drawing about 600 W from the wall so it's not like i'm investing all that heavily. I just made a plan to sell 1/2 until 2020 where I sell most of whatever is left.

 

[yotano211]

The thing is, intellectually I know that, but still, missing out on a few hundred K to a million $ is still saddening and so I generally don't think about it. At the moment I have 1 mining rig drawing about 600 W from the wall so it's not like i'm investing all that heavily. I just made a plan to sell 1/2 until 2020 where I sell most of whatever is left.

The thing is, intellectually I know that, but still, missing out on a few hundred K to a million $ is still saddening and so I generally don't think about it. At the moment I have 1 mining rig drawing about 600 W from the wall so it's not like i'm investing all that heavily. I just made a plan to sell 1/2 until 2020 where I sell most of whatever is left.

I don't think about having an extra $100k+. I'm happy with what I have, I'm not happy with tenants calling me 2am to open their door.

 

[trog100]

my nicehash miners are showing about .68 dollars per day per 1070 card.. things are looking grim.. he he

trog

 

[hat]

Yeah, I'm barely making over a buck with two 1070s. This is due to the poor price of BTC at the moment. I'm still piling more BTC into my little stash which may one day be worth something significant to me. It would be nice if profitability could go up so we could earn more, but I don't see that happening, so I instead hope for a future explosion in BTC prices...

What will be interesting though is what happens to the market when the new Nvidia cards come out. Lots of possibilities there.

 

[Outback Bronze]

This is due to the poor price of BTC at the moment

Im not sure that's how it works mate. Its more the ETH price.

My 3x1070 are doing daggerhash which is ETH which will convert to BTC. If the price of ETH was a lot better our return of BTC will be much higher.

Please quote me if I'm wrong : )

 

[trog100]

yes its more down to what nicehash mines and the price of eth.. bitcoin is holding up better than the other coins.. eth is the problem and the one that needs to go up..

nicehash pays out in bitcoin but it dosnt mine it.. if what it mines is sh-t the pay out is sh-t.. the price of bitcoin will effect the value of what you are holding but not the daily cash payout..

trog

 

[phill]

It's definitely gone to shite slowly over the last few weeks, months maybe.. Since the big drop, it's not quite gone back up to anything special.. Still holding coins, but they are severally worth less than what they where before..

Thankfully, all I had invested with a mate is covered, I guess I can't be too peeved at that

 

[hat]

Im not sure that's how it works mate. Its more the ETH price.

My 3x1070 are doing daggerhash which is ETH which will convert to BTC. If the price of ETH was a lot better our return of BTC will be much higher.

Please quote me if I'm wrong : )

Yes, but if the price of BTC doubled tomorrow, I would see $2.80/day rather than $1.40/day, barring other market fluctuations. It's not just ETH that nicehash mines, either. Sure if there was a big upswing in ETH price most nicehash miners would be mining it due to the automatic algorithm switching, but nicehash also mines a bunch of other coins. Of course, you're still right that if the ETH market improved, we would see a higher payout simply because ETH is worth more.

Those $/day figures though are arbitrary figures of the estimated payout if you were to cash out right now. That's why fluctuations in BTC prices affect that. You still get paid the same amount of BTC, but if BTC is worth more, you get more dollars out of it.

 

[trog100]

Yes, but if the price of BTC doubled tomorrow, I would see $2.80/day rather than $1.40/day, barring other market fluctuations. It's not just ETH that nicehash mines, either. Sure if there was a big upswing in ETH price most nicehash miners would be mining it due to the automatic algorithm switching, but nicehash also mines a bunch of other coins. Of course, you're still right that if the ETH market improved, we would see a higher payout simply because ETH is worth more.

Those $/day figures though are arbitrary figures of the estimated payout if you were to cash out right now. That's why fluctuations in BTC prices affect that. You still get paid the same amount of BTC, but if BTC is worth more, you get more dollars out of it.

it dosnt work that way hat.. nicehash mines whatever it thinks is most profitable.. currently it seems to be eth.. lets say nicehash mines eth which currently isnt worth much.. the stuff (eth) what nicehash mines is then used to buy bitcoin which is what nicehash pays out in..

you are getting less bitcoin for the eth that nicehash is mining.. hence the low dollar pay out.. whilst bitcoin is around the same price.. the price of eth is dropping.. it was around $500 not long back its now around $300 this is why the nicehash payout is going down..

if the price of bitcoin doubled tomorrow and eth stayed the same the mined eth would simply buy half the amount of bitcoin.. what seems to be happening is the almost fixed link between bitcoin and the other coins seems to be breaking.. bitcoin is holding up while the other coins keep going down.. eth being a good example of this..

if the price of whatever it is that nicehash is mining doubles and bitcoin stays the same it would buy double the amount of bitcoin and the dollar payout would go up..

trog

ps.. over the last month bitcoin is up %1.5 percent not much change.. over the last month eth is down 25%.. this matches the nicehash dollar payout pretty well.. a 25% drop..

 

[Durvelle27]

I miss the days when I could mine on a single 290 and it pay itself off. It’s just to difficult and costly to do so now. Wish I would have done it longer back than. Just cashed in my stash I had left from back in 2012 and now regretting it

And I don’t think mining will ever be as profitable as it was back than

 

[trog100]

I miss the days when I could mine on a single 290 and it pay itself off. It’s just to difficult and costly to do so now. Wish I would have done it longer back than. Just cashed in my stash I had left from back in 2012 and now regretting it

And I don’t think mining will ever be as profitable as it was back than

for me its not even covering the cost of electricity at the moment.. if it gets any worse stubborn though i am i will just have to switch the gpu miners off..

trog

 

[Tsukiyomi91]

with how steep the difficulty curve gets each day/week for all the crypto-coins, Bitcoin or alternate-coins, I don't think it's viable enough to make good money, let alone paying your already expensive electric bills.

 

[silkstone]

for me its not even covering the cost of electricity at the moment.. if it gets any worse stubborn though i am i will just have to switch the gpu miners off..

trog

I'm thinking of selling off what few cards I have mining and put some in alternate rigs. My daughter could do with a new desktop anyway. With the money I'd sell them for, I think I'd be able to get a 2nd 1080Ti that should keep my rig current through the next-gen of GPUs.

 

[trog100]

I'm thinking of selling off what few cards I have mining and put some in alternate rigs. My daughter could do with a new desktop anyway. With the money I'd sell them for, I think I'd be able to get a 2nd 1080Ti that should keep my rig current through the next-gen of GPUs.

that decision would come after switching the miners off.. he he

my sli 1070 desktop machine would stay as it just not run the mining software.. my eight 1070 card mining rig.. strip and sell the cards or hang on and hope things improve enough to switch it back on again.. ..

trog

 

[trog100]

my two 1070 card desktop machine is now showing 1.14 US dollars per day..

it seems that crypto is dying from the bottom up.. bitcoin at the top is holding up moderately well whilst the other alt coins are going down in value..

purely a guess this but people must be selling their altcoins and buying bitcoin.. i think it really is time to turn my gpu miners off... i will check from time to time to see if things change..

trog

 

[phill]

It's looking like it's going to take a dive.. Certainly been doing that over the last few days.. What a pain this crypto is lol

 

[FordGT90Concept]

Wonder if has something to do with the Chinese Yuan in a spiral.

 

[trog100]

an interesting piece here about the general crypto situation.. not as you can put too much faith in anything you read..

https://www.zerohedge.com/news/2018...xapo-president-fears-altcoin-extinction-event

trog

 

[xkm1948]

Crypto coints crashing, good riddance. Less waste of energy to mine some useless stuff now