Bitcoin price suddenly surges to 3-year high

[dorsetknob]

usually when Elon tweets the stock or value of anything he tweets about goes up,

Except Tesla Stock ......that crashed.... and the sec got involved so i sorta remember

 

[trog100]

must admit, I am surprised Bitcoin hasn't rallied to 40k yet, especially with Elon's tweet on Friday. usually when Elon tweets the stock or value of anything he tweets about goes up, it hasn't really changed much though since Friday. i could care less either way. but yeah just found that interesting, Elon not as king as he thinks I guess.

the insider story behind this that certain parties are picking rallies and selling them down.. a large mining pool being the main culprit at the moment..

elon did cause a rally.. the large mining pool sold it down.. all it takes is a large player to do a large enough sell at the peak.. fear and the fainted hearted do the rest.. the large player then buys back in at the bottom and makes a nice profit.. or accumulates more bitcoin which i think is the real game..

as a hodler i just sit through the ups and downs. and will keep riding it all the way up.. i do believe long term the only way is up..

trog

 

[ZenZimZaliben]

as a hodler i just sit through the ups and downs. and will keep riding it all the way up.. i do believe long term the only way is up..

This is the way!

 

[Space Lynx]

as a hodler i just sit through the ups and downs. and will keep riding it all the way up.. i do believe long term the only way is up..

trog

this is probably the best course of action all things considered. i have no issue with your strategy.

can someone please explain to me this and why is this valued number 15 crypto? like why does this even exist and why is it so popular? i swear cryptocurrency confuses the hell out of me all the time

What Is Wrapped Bitcoin [WBTC]?​

Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.

WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance (DeFi) applications.

WBTC is also backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner.

Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019.

 

[trog100]

i got into crypto because i fancied building a mining machine lynx .. this was back in 2017 when bitcoin was worth around 4k.. i acquired some partial bitcoin etherium and litecoin back then and have hung onto it.. how most of it works i havnt a clue.. :its a rabbit hole i dont fancy going down..

trog

 

[phill]

i got into crypto because i fancied building a mining machine lynx .. this was back in 2017 when bitcoin was worth around 4k.. i acquired some partial bitcoin etherium and litecoin back then and have hung onto it.. how most of it works i havnt a clue.. :its a rabbit hole i dont fancy going down..

trog

Did you take the red pill or the blue pill??

 

[trog100]

etherium just broke $1600 and bitcoin $3700.. back on a roll it seems..

trog

 

[Space Lynx]

etherium just broke $1600 and bitcoin $3700.. back on a roll it seems..

trog

I might try my hand at Ethereum mining, what do you recommend for wallet again? I was thinking I will use Phoenix Miner. @phill

also I still don't understand why Ethereum is valuable, since you can simply print infinite amount of it. I thought the reason BTC was valuable was because it was like gold? finite?

"One of the major differences between Bitcoin and Ethereum’s economics is that the latter is not deflationary, i.e. its total supply is not limited. Ethereum’s developers justify this by not wanting to have a “fixed security budget” for the network."

 

[dragontamer5788]

also I still don't understand why Ethereum is valuable, since you can simply print infinite amount of it. I thought the reason BTC was valuable was because it was like gold? finite?

Are you thinking of Doge? Which is also skyrocketing for some reason (despite its infinite print design).

 

[trog100]

I might try my hand at Ethereum mining, what do you recommend for wallet again? I was thinking I will use Phoenix Miner. @phill

also I still don't understand why Ethereum is valuable, since you can simply print infinite amount of it. I thought the reason BTC was valuable was because it was like gold? finite?

"One of the major differences between Bitcoin and Ethereum’s economics is that the latter is not deflationary, i.e. its total supply is not limited. Ethereum’s developers justify this by not wanting to have a “fixed security budget” for the network."

anything you mine now assuming you hang on to it will go wherever etherium goes.. back in 2017/18 i acquired 10 eth.. i lost interest and forgot about it.. one year ago it was worth 2K.. its now worth 16k and rising.. my miners on nice hash are now generating $30 dollars a day..

etherium is going up faster than bitcoin.. using nicehash which converts it to bitcoin is probably a mistake i should mine and keep eth.. i am a lazy bugger and will probably stick with nicehash..

i also have some liteoin.. so far this has been disappointing it hasnt gone up that much.. but i recon it will have its day..

i am lucky in one way.. i am old and retired i dont need the ready cash which is why i just hodle and watch..

trog

 

[Space Lynx]

Are you thinking of Doge? Which is also skyrocketing for some reason (despite its infinite print design).

I am not, both Doge and Etherium have unlimited supply. Which is why I wonder why does Etherium do so good, the whole point of crypto at the beginning was to stop endless printing. aka Bitcoin.

anything you mine now assuming you hang on to it will go wherever etherium goes.. back in 2017/18 i acquired 10 eth.. i lost interest and forgot about it.. one year ago it was worth 2K.. its now worth 16k and rising.. my miners on nice hash are now generating $30 dollars a day..

etherium is going up faster than bitcoin.. using nicehash which converts it to bitcoin is probably a mistake i should mine and keep eth.. i am a lazy bugger and will probably stick with nicehash..

i also have some liteoin.. so far this has been disappointing it hasnt gone up that much.. but i recon it will have its day..

i am lucky in one way.. i am old and retired i dont need the ready cash which is why i just hodle and watch..

trog

Is phoenix miner considered good/trustworthy? Seems like a simple setup from what I read on their website, I just need to find a reliable wallet. I might just hodl myself for a couple years on ETH. Not sure if I will mine or not just yet, especially since I have AMD and I guess Nvidia is better for this stuff... bleh. Hmm, that 30 a day could easily be 60 a day at some point though...

 

[trog100]

i think phoenix miner is okay but i am rusty.. crypto has only just kicked back in again for me.. i have only been running my miners for 6 weeks or so during that time my returns have gone from $10 dollars a day to 30 dollars a day.. hopefully you are right about that 60 dollars a day..

my real gains are from what i accumulated the first time around though and had pretty much written off.. crypto does seem to be long a term thing..

they say the would is running out of silver and the current price is well rigged.. a few silver coins may be a good thing to buy as an alternative to crypto..

trog

 

[kayjay010101]

i think phoenix miner is okay but i am rusty.. crypto has only just kicked back in again for me.. i have only been running my miners for 6 weeks or so during that time my returns have gone from $10 dollars a day to 30 dollars a day.. hopefully you are right about that 60 dollars a day..

my real gains are from what i accumulated the first time around though and had pretty much written off.. crypto does seem to be long a term thing..

they say the would is running out of silver and the current price is well rigged.. a few silver coins may be a good thing to buy as an alternative to crypto..

trog

For what it's worth I just switched my GPUs over to eth from nicehash. Currently mining on hiveon pool and my RTX 3070+RTX 3090 is getting 0.0126 ETH per day (current value is ~20.57 USD) which is a bit better than Nicehash's payout. But who knows whether BTC or ETH will increase in price most, it might be better to mine BTC now if it skyrockets again, who knows.

 

[ZenZimZaliben]

I am not, both Doge and Etherium have unlimited supply. Which is why I wonder why does Etherium do so good, the whole point of crypto at the beginning was to stop endless printing. aka Bitcoin.



Is phoenix miner considered good/trustworthy? Seems like a simple setup from what I read on their website, I just need to find a reliable wallet. I might just hodl myself for a couple years on ETH. Not sure if I will mine or not just yet, especially since I have AMD and I guess Nvidia is better for this stuff... bleh. Hmm, that 30 a day could easily be 60 a day at some point though...

You may need a crash course on the difference between Tokens and Coins. https://coinguides.org/coin-token-the-difference/ Etherium is a Coin and it's supply is determined by the amount of miners out there.

 

[Metroid]

must admit, I am surprised Bitcoin hasn't rallied to 40k yet, especially with Elon's tweet on Friday. usually when Elon tweets the stock or value of anything he tweets about goes up, it hasn't really changed much though since Friday. i could care less either way. but yeah just found that interesting, Elon not as king as he thinks I guess.

elon musk twitter post is getting weaker and weaker, he twitted doge today and the rally was not like last time, so people are much more careful now, he removed bitcoin from his twitter profile. If i had any coin right now, this is the time to sell and stay safe.

 

[phill]

I might try my hand at Ethereum mining, what do you recommend for wallet again? I was thinking I will use Phoenix Miner. @phill

also I still don't understand why Ethereum is valuable, since you can simply print infinite amount of it. I thought the reason BTC was valuable was because it was like gold? finite?

"One of the major differences between Bitcoin and Ethereum’s economics is that the latter is not deflationary, i.e. its total supply is not limited. Ethereum’s developers justify this by not wanting to have a “fixed security budget” for the network."

Phoenix Miner and ethermine is what we use So much cheaper transfers etc in our pool...

Tonight tried to transfer my little mined total from nicehash to our wallet, well couldn't do it. The network fees where more than what I had mined..... Transferred it over to BTC again, then transferred it to our wallet. That cos just a bit under $2.50 I think, but that's a hell of a lot better than Nicehash.

Try and stay away from the politics if you can @lynx29 It's just crypto stuff here ideally

The amount my mate and I's hashrate/payouts at the moment I feel are doing bloody well.. That and the few extra we've made buying and selling the coin I had and it's 10x mark up in price since last year, lovely jubbly

 

[trog100]

i just looked at my nicehash return.. its now at 45 dollars per day..

let me ask you a question phil.. why would you swap/sell an asset that is going up massively in price for something that isnt.. cash for example.. ??

trog

 

[phill]

Ours is looking about the 80 mark from the pool we mine in, which is pretty decent to be honest Surprised ourselves if I'm honest!!

Well our luck is pretty much not existent because if we buy the price shoots down, we sell the price goes up... It's kinda like sods law lol What I had 'invested' if you like was a few hundred but now it's grown into the thousands. We try to ride the waves of it going up and down and catch it when it peaks and then when it drops we buy back in. Over the time we've made some cash and that's generally not a bad thing. I'm not after holding out for the maximum, if I can get a decent return and I think something is going to go Pete Tong I sell up. We missed out on it jumping from the 1400 to the 1500, then it went to 1600 and then 1700 (I believe it's sitting about the 1720 marker at the moment)... When it hit 1500 I had said to my mate to buy but he was waiting for another drop so we waited..

It's just a bit of fun with this at the moment, the thing that I believe that gets me is that if I keep hold of it, I'm sure it would just turn to crap and I'd loose it, this way even if with a few transactions I'm only making a few $100, I've still got that to show for it rather than nothing at all...
That said if the market for whatever reason did fold, I'd buy a load of coins as cheap as possible... I do have a few hundred ripple to sell off at some point, so I'm hoping we can sell them off for more than we paid for them... We missed it last time but it's not the end of the world...

 

[trog100]

i didnt know you were buying in and out phil i thought you were just swapping for cash..

i am too lazy to do what you are doing plus i can never be sure whether or not it gonna go up or down.. he he

i am pretty sure the general trend is up but that is about all.. i try and predict the highs and the lows along the way but i am wrong as often as i am right..

trog

 

[phill]

We are basically just trying our luck mate We've just bought in at 1700, it's now 1745 or something... For a quick $100 extra in the pot for when we do sell, it's not so bad... We try and guess as well but like yourself, we are sometimes right, sometimes wrong .....

If we can get some more GPUs in our hands, I'm hoping we'll be able to push the daily worth up.. With the coins I'd sold to gain the cash I have had now, its meant for me that everything that my mate in the US has bought me (With me sending hiim the cash) its all covered and welcomed to be honest but still.... It's rare has heck that I'm that lucky normally I think the coins I had were worth $400 ish, its definitely gone up like you say about the general trend doing

 

[Space Lynx]

I still haven't done any mining, I don't think I will. I find it all intriguing, but eh also just thankful for what I have. still can't believe i got zen 3 and 6800 for MSRP on their launch dates... still blows me away to this day lol

 

[P4-630]

Tesla CEO Elon Musk has purchased bitcoins for $ 1.5 billion. The price of the cryptocurrency soared to a record above $ 42,000 on Monday.

 

[phill]

I heard it was about 45k??.... Either way, wow!

 

[ppn]

Video cards never more, gone, 0 in stock after what Tesla did. Needs to die quick with a driver patch or something. If by the time of 40 series mining on GPU is still a thing, just turn the planet into mars it's hopeless, i don't care anymore.

 

[trog100]

whoosh..

trog