Bitcoin price suddenly surges to 3-year high

[sepheronx]

@trog100

I currently got my wife working on a script to help me get a 3080 (at closer to canadian MSRP, not scalpers) and I am thinking of taking off the rx 6800xt of mine from mining as it is only getting me about a bit more than my 3070's do. So I was thinking of trying to get a head start of the altcoin after ETH and so far the only two I keep hearing from miners are Raven and Conflux. So I was thinking of mining Raven directly.

What do you think?

 

[Space Lynx]

@trog100

I currently got my wife working on a script to help me get a 3080 (at closer to canadian MSRP, not scalpers) and I am thinking of taking off the rx 6800xt of mine from mining as it is only getting me about a bit more than my 3070's do. So I was thinking of trying to get a head start of the altcoin after ETH and so far the only two I keep hearing from miners are Raven and Conflux. So I was thinking of mining Raven directly.

What do you think?

its not about what you make now, its what you hoddle and the price doubles in 6 months. that's what trog has told me in the past.

other coins are more risky, there are literally thousands of them, some will rise, some will fall, some will take people for a ride and cash out leaving you in the dry at the last second.

at end of day, you need to ask yourself how much money do you need to be happy. if its a lot, then riskier your coins may have greater reward. if its a medium amount, slow and steady is the name of the game, if its a small amount, convert everything to BTC as BTC is most likely here to stay sadly, even though the tech on it is ancient as far as blockchain tech goes anyway.

if your like the Buddha, then get a robe and a tent, and enjoy the sunrise. some people need very little to be happy.

so you need to decide which category you are. most people are like trog slow and steady. or they invest in stock market, and they dont look at it again for 20 years, out of sight out of mind.

me personally, am in the Seneca (Stoic philosopher) camp. my PC could die tomorrow and I wouldn't even shout or yell, I'd simply go read outside or something. such is the nature of life, always changing.

that being said, it would be nice to own my house I suppose, so I suppose in back of my head I will always regret not hoddling some Bitcoin when it was like $200 a coin. almost bought some back then, eh.

greed destroys all men. be careful how far you swim in those waters. maybe only go waist deep so you can still see the Logos in the sky.

 

[sepheronx]

its not about what you make now, its what you hoddle and the price doubles in 6 months. that's what trog has told me in the past.

other coins are more risky, there are literally thousands of them, some will rise, some will fall, some will take people for a ride and cash out leaving you in the dry at the last second.

at end of day, you need to ask yourself how much money do you need to be happy. if its a lot, then riskier your coins may have greater reward. if its a medium amount, slow and steady is the name of the game, if its a small amount, convert everything to BTC as BTC is most likely here to stay sadly, even though the tech on it is ancient as far as blockchain tech goes anyway.

if your like the Buddha, then get a robe and a tent, and enjoy the sunrise. some people need very little to be happy.

so you need to decide which category you are. most people are like trog slow and steady. or they invest in stock market, and they dont look at it again for 20 years, out of sight out of mind.

me personally, am in the Seneca (Stoic philosopher) camp. my PC could die tomorrow and I wouldn't even shout or yell, I'd simply go read outside or something. such is the nature of life, always changing.

that being said, it would be nice to own my house I suppose, so I suppose in back of my head I will always regret not hoddling some Bitcoin when it was like $200 a coin. almost bought some back then, eh.

greed destroys all men. be careful how far you swim in those waters. maybe only go waist deep so you can still see the Logos in the sky.

Its already speculated by the more established miners of what the alternative is.

 

[Space Lynx]

Its already speculated by the more established miners of what the alternative is.

if you say so bud. ah, I remember the days of Protocoin ever so briefly... hahaha, never heard of Protocoin? that's a shame. no one else remembers it either. and those same experts/hype makers said the same thing back then.

 

[sepheronx]

if you say so bud. ah, I remember the days of Protocoin ever so briefly... hahaha, never heard of Protocoin? that's a shame. no one else remembers it either. and those same experts/hype makers said the same thing back then.

If you are unaware, you can just search up users like bitsbetrippin on youtube and the like. But I dont think you are that interested in this topic.

 

[sepheronx]

Original post deleted.

I tend to trust some people who have a vested interest in it.

I mean, I am pretty sure you signaled the death of bitcoin and you are so far wrong. So who should I trust? You or the people still vested into it?

Anyway, there will be alternatives. ETH was the alternative to BTC.

So it is up to you to what you believe, but I am not really asking you either. I am asking Trog since he has been mining for a long time.

 

[toilet pepper]

Some people will call it a Flash Sale.

Flash sale is almost over boys.

 

[sepheronx]

Flash sale is almost over boys.

looks like it. From 68K CAD to 73K CAD in a matter of overnight.

 

[trog100]

bitcoin is now at 59K but it still has to get past that 60K resistance level.. eth is at 1840..

i just installed my first asus strix 3060ti card in my 8 x 1070 rig.. its huge i think they use the same cooler as on their 3090 cards..

its very efficient.. its doing 60 m/sh for 120 watts of power.. more then twice as efficient as the 1070 cards which do 26 m/sh for 125 watts of power..

i have two more coming its a shame the bloody things are costing so much..

trog

 

[Hardcore Games]

@trog100

I currently got my wife working on a script to help me get a 3080 (at closer to canadian MSRP, not scalpers) and I am thinking of taking off the rx 6800xt of mine from mining as it is only getting me about a bit more than my 3070's do. So I was thinking of trying to get a head start of the altcoin after ETH and so far the only two I keep hearing from miners are Raven and Conflux. So I was thinking of mining Raven directly.

What do you think?

I cannot find a RTX 3000 for MSRP but the few available are 2-3X the price, same for RX 6000 cards.

 

[sepheronx]

I cannot find a RTX 3000 for MSRP but the few available are 2-3X the price, same for RX 6000 cards.

thats gotta suck.

I was lucky to find all my cards at MSRP. I got my wife building me a bot to buy at least 1 3080 at MSRP.

 

[trog100]

I cannot find a RTX 3000 for MSRP but the few available are 2-3X the price, same for RX 6000 cards.

i dont even try looking.. i simply buy at the UK ebay price which currently is around £1000 for a 3060ti and £1900 for a 3080..

i dont see this changing any time soon and cards going up in price not down.. i just bought 4 3060ti cards to replace some of my 1070 cards in my mining rig..

bitcoin is very close to that breakout point of 60K..

etherium has just gone over 1900.. mining eth has just got a little a more profitable..

trog

 

[Zach_01]

i dont even try looking.. i simply buy at the UK ebay price which currently is around £1000 for a 3060ti and £1900 for a 3080..

i dont see this changing any time soon and cards going up in price not down.. i just bought 4 3060ti cards to replace some of my 1070 cards in my mining rig..

bitcoin is very close to that breakout point of 60K..

etherium has just gone over 1900.. mining eth has just got a little a more profitable..

trog

If one is mining and selling instantly yes its more profitable. If someone is playing the long game the current price has little to no significance.

 

[hat]

If one is mining and selling instantly yes its more profitable. If someone is playing the long game the current price has little to no significance.

Maybe if you're mining ETH directly, but if you're using Nicehash, if ETH is worth more you get paid more BTC.

 

[Zach_01]

Maybe if you're mining ETH directly, but if you're using Nicehash, if ETH is worth more you get paid more BTC.

If ETH price grows more than BTC's then yes...

 

[Space Lynx]

iPhone user loses $600,000 after downloading scam Bitcoin app from Apple's store

The story began last month when Phillipe Christodoulou wanted to check his Bitcoin balance. He decided to do a search for "Trezor," the company that makes the...

www.techspot.com

too bad he wasn't with an FDIC insured bank

 

[R-T-B]

I hope Elon figures out Mars, cause I am 100% certain now humans are going to destroy Earth with climate change.

If we can't terraform a dying earth Mars is DoA.

iPhone user loses $600,000 after downloading scam Bitcoin app from Apple's store

The story began last month when Phillipe Christodoulou wanted to check his Bitcoin balance. He decided to do a search for "Trezor," the company that makes the...

www.techspot.com

too bad he wasn't with an FDIC insured bank

FDIC wouldn't protect you from giving away your banking password either, which is effectively what he did. That would be the individual banks domain.

 

[Space Lynx]

If we can't terraform a dying earth Mars is DoA.


FDIC wouldn't protect you from giving away your banking password either, which is effectively what he did. That would be the individual banks domain.

yeah but the police etc would take it more seriously in investigation. with bitcoin they probably don't even bother trying.

also, surprised to see this:

Dollar slides, consolidates recent gains, ahead of U.S. payrolls data

The dollar fell on Thursday, consolidating recent gains that pushed it to nearly three-year highs during the first quarter, but the outlook remained upbeat in the wake of improving economic prospects backed by the Biden government's more than $2 trillion stimulus plan.

www.reuters.com

 

[R-T-B]

with bitcoin they probably don't even bother trying.

The law is the same, bitcoin is identical to high value stolen property. Issue is the obvious technical limitations of tracing it.

Bitcoins anonyminity needs to be viewed as a weakness, not a strength.

also, surprised to see this:

I'm not. People seem all doom and gloom but the fact is the US never stopped being one of the worlds top economies. The dollar represents that, and hopefully the shit that hit the fan is lessening.

 

[dragontamer5788]

https://twitter.com/i/web/status/1376554060900302863

@elonmusk
Thought I'd be hip and pay my Model Y deposit in #BTC, but my crypto app took longer than Tesla's half hour window to send -- now the BTC seems lost and no one is able to help. Not good for mass adoption.

 

[R-T-B]

https://twitter.com/i/web/status/1376554060900302863

BTC can take up to an hour to confirm and this is nothing new... why in the world does Tesla set it to half that?

Btw, the btc is not "lost." Tesla has it. They just need their stupid computers to acknowledge it.

 

[dragontamer5788]

BTC can take up to an hour to confirm and this is nothing new... why in the world does Tesla set it to half that?

Btw, the btc is not "lost." Tesla has it. They just need their stupid computers to acknowledge it.

You're right on both paragraphs. But to answer your question... Volatility. If you're dealing with large $1000+ transactions, movement of +/- 5% (which BTC is well known to do) could very well be a risk to your business.

It is a severe risk to be holding BTC, as it goes up or down with the whims of the market. BTC's reputation as a get-quick rich scheme turns out to be a terrible thing for those who actually want to use it as a currency. It doesn't matter if the price moves up or down: someone gets screwed in the transaction. For a BTC transaction to be successful: BTC/USD needs to be stable for the transaction duration.

 

[R-T-B]

You're right on both paragraphs. But to answer your question... Volatility. If you're dealing with large $1000+ transactions, movement of +/- 5% (which BTC is well known to do) could very well be a risk to your business.

It is a severe risk to be holding BTC, as it goes up or down with the whims of the market. BTC's reputation as a get-quick rich scheme turns out to be a terrible thing for those who actually want to use it as a currency. It doesn't matter if the price moves up or down: someone gets screwed in the transaction. For a BTC transaction to be successful: BTC/USD needs to be stable for the transaction duration.

Tesla is holding the btc, not exchanging it though. They made a big point of that.

 

[Zach_01]

And most big players are thinking BTC as a store of value.

On the other hand PayPal that will start crypto transactions probably in 2021 will require from customer to transfer an amount of crypto into PayPal wallet. Then, on the purchase the transaction will be instant. PayPal will just hold the amount in BTC or any other cryptocoin that would be accepted.
Revolut works similar if I’m not mistaken.

So there are some solutions to the transaction delay.

 

[trog100]

musk is accumulating as much bitcoin as he can.. he is stashing it.. there is no need to use it as a currency.. as yet the dollar does fine..

he can borrow as much day to day dollars as he needs.. the idea is a simple one.. stash the bitcoin and watch it go up in value.. borrow the dollars as and when needed.. he has a limitless supply of dollars..

And most big players are thinking BTC as a store of value.

On the other hand PayPal that will start crypto transactions probably in 2021 will require from customer to transfer an amount of crypto into PayPal wallet. Then, on the purchase the transaction will be instant. PayPal will just hold the amount in BTC or any other cryptocoin that would be accepted.
Revolut works similar if I’m not mistaken.

So there are some solutions to the transaction delay.

that is exactly how paypal started.. i am old enough to remember that.. you had to deposit money into paypal before you could send it to someone else..

trog