Bitcoin price suddenly surges to 3-year high

[hat]

Still dropping. But my profits per day are up. So while I lost about $100 worth in BTC, my potential is jumping. Eventually, when it does go back up, what I have earned in this short period will be a lot.

I'm OK as I'm in it for long haul. And these dips happen.

ETH is probably continuing to increase as BTC goes down, then.

 

[sepheronx]

ETH is probably continuing to increase as BTC goes down, then.

Yeah, I'm thinking that.
I'm happy though.

 

[trog100]

ETH is probably continuing to increase as BTC goes down, then.

its not though.. eth has gone down at the same rate as bitoin.. my rewards are well up i would have thought they should have dropped.. but they havnt they have gone up..

the only explanation i can think of is less people are currently mining eth.. i have been watching the nicehash 4 hourly payouts.. mine have been up by around 25% maybe a tad more..

trog

 

[mav2000]

its not though.. eth has gone down at the same rate as bitoin.. my rewards are well up i would have thought they should have dropped.. but they havnt they have gone up..

the only explanation i can think of is less people are currently mining eth.. i have been watching the nicehash 4 hourly payouts.. mine have been up by around 25%..

trog

25% is a lot. I doubt you can attribute that to people not mining.

 

[trog100]

25% is a lot. I doubt you can attribute that to people not mining.

it dosnt make any sense to me.. but i am sure of what i am seeing.. my nicehash rewards are up and the bitcoin and eth prices seem to have dropped at the same rate..

trog

 

[R0H1T]

RIP any decency among humanity.

That's so pre (human) civilization, I doubt anyone remembers anything but a constant erosion of the term over the years!

 

[kayjay010101]

dogecoin is now accepted by newegg as payment. RIP any decency among humanity.

All the raping, enslaving and warmongering going on in the world is apparently irrelevant, it's an etailer accepting a memecoin that has made you give up on humanity

 

[R0H1T]

All the raping, enslaving and warmongering going on in the world is apparently irrelevant, it's an etailer accepting a memecoin that has made you give up on humanity

They're not mutually exclusive, are they?

 

[Space Lynx]

All the raping, enslaving and warmongering going on in the world is apparently irrelevant, it's an etailer accepting a memecoin that has made you give up on humanity

Correct. Bitcoin mining uses 3 countries worth of electricity, but all the alt coins/tokens/infrastructure use about 30-50 countries worth of electricity, and once climate change takes hold more you will see more horrible things then you ever thought possible. Mass displacement, mass famine deaths, water wars, and more. Thank you for reminding me about the other terrible crimes that come with crop failure as well.

Just because fiat also uses electricity doesn't change the fact BTC and other coins did not exist until recently in history, exacerbating the problem tenfold. Next time you want to debate, I highly recommend you take a class in economic social theory.

 

[kayjay010101]

Correct. Bitcoin mining uses 3 countries worth of electricity, but all the alt coins/tokens/infrastructure use about 30-50 countries worth of electricity, and once climate change takes hold more you will see more horrible things then you ever thought possible. Mass displacement, mass famine deaths, water wars, and more. Thank you for reminding me about the other terrible crimes that come with crop failure as well.

Just because fiat also uses electricity doesn't change the fact BTC and other coins did not exist until recently in history, exacerbating the problem tenfold. Next time you want to debate, I highly recommend you take a class in economic social theory.

Bitcoin does not use "3 countries worth of electricity", unless those countries are starving african nations. Bitcoin uses an estimated 80-130 TWh anually (depends on who you ask, but that's the common range given by experts such as economist Alex De Vries) which is on par with Argentina on a pure electrical basis. Not on an energy basis, because Argentina uses about 930TWh equivalent in total energy (gas, heating oil, fuel..). And Bitcoin is by far the biggest energy consumer of all coins. If we assume Eth is on the same level of consumption (which it isn't, it's probably quite a bit lower, and will be almost completely removed with Eth 2.0 next year), and then add on all other coins at about a 5x assumption (because genuinely, outside the top 10 or so coins there are practically no farms dedicated to mining them which is where the bulk of electricity is used), then we can assume total crypto energy usage anually is about 7x Bitcoin, or between 560-1040TWh, which is between 1 and 2 Germany's. That's hardly "30-50 countries" worth. There are plenty of other industries, like aviation and cars, which accounts for so, so, so much more energy usage.

 

[Space Lynx]

Bitcoin does not use "3 countries worth of electricity", unless those countries are starving african nations.

Incorrect.

 

[kayjay010101]

Incorrect.

... Prove me wrong? I actually did research, all I see is you saying stuff with nothing to back it up.

 

[ZenZimZaliben]

Dropping? You mean "On Sale right now"...right?

 

[trog100]

Dropping? You mean "On Sale right now"...right?

i aint buying any at the moment just holding what i have and mining some more..

my last two nicehash 4 hourly payouts have been over £17 dollars and its estimating over $100 dollars per day.. thats over $3000 dollars a month..

i expected the payouts to go down but they have gone up.. weird.. but nice..

trog

 

[ZenZimZaliben]

I picked up more BTC, ETH, LTC, and a few alt coins. EOS and VET.

 

[phill]

crystal balls are a handy thing to have phill.. he he..

i just mine on nice hash and hodl what i have.. i intend to ride though the ups and downs.. its simpler that way..

trog

I think we could all do with that one mate!

Definitely easier, maybe not so much $$$$ but definitely less stressful

 

[moproblems99]

@trog100 , what are your 3080's doing? I am thinking about ordering 3.

 

[Deleted member 50521]

@trog100 , what are your 3080's doing? I am thinking about ordering 3.

I thought you are getting the 6800XT? From your thread?

 

[R-T-B]

but all the alt coins/tokens/infrastructure use about 30-50 countries worth of electricity,

I think you are overestimating massively. I feel like altcoins in worst case match bitcoin.

 

[trog100]

@trog100 , what are your 3080's doing? I am thinking about ordering 3.

mine are running at 97/96 msh.. i dont like them for mining they can be problematic keeping the memory cool enough.. especially the gigabyte ones..

i am currently running 2 x 3080 cards.. 8 x 3070 cards and 1 x 2080 ti card.. this gives me about 730 m/sh in total..

trog

 

[moproblems99]

I thought you are getting the 6800XT? From your thread?

I am. To game on. RTX to mine on. Or mine with a 6900xt and game on a 3080. The choices are endless!

 

[trog100]

i am having problems mining and gaming on the same machine.. in theory i should be able to just switch off the nicehash miner and crank up a game..

in practice i cant and i have tried this on two different machines with exactly the same result..

basically anything that requires my card to switch to 3D mode dosnt work without me doing a fresh clean install of the nvidia drivers every time.. the cards/card dosnt switch to 3D mode after running the nicehash miner..

its fine for browsing and video watching or whatever with the miner running but for the valley benchmark for example it stays in 2d mode at 1 frame per second even without the miner running..

it has to be the nicehash mining software doing something to the nvidia drivers.. i havnt fully figured out whats happening yet but something is..

at first i thought i had dud card but its something the mining software is doing to the drivers.. a clean driver install fixes it.. until the mining software is run again then its no 3D mode..

trog

 

[kayjay010101]

i am having problems mining and gaming on the same machine.. in theory i should be able to just switch off the nicehash miner and crank up a game..

in practice i cant and i have tried this on two different machines with exactly the same result..

basically anything that requires my card to switch to 3D mode dosnt work without me doing a fresh clean install of the nvidia drivers every time.. the cards/card dosnt switch to 3D mode after running the nicehash miner..

its fine for browsing and video watching or whatever with the miner running but for the valley benchmark for example it stays in 2d mode at 1 frame per second even without the miner running..

it has to be the nicehash mining software doing something to the nvidia drivers.. i havnt fully figured out whats happening yet but something is..

at first i thought i had dud card but its something the mining software is doing to the drivers.. a clean driver install fixes it.. until the mining software is run again then its no 3D mode..

trog

That's strange, I have no issues switching from mining on T-rex to playing a game on my 3090. Must be a funky driver or Nicehash is doing something weird.

 

[Space Lynx]

i am having problems mining and gaming on the same machine.. in theory i should be able to just switch off the nicehash miner and crank up a game..

in practice i cant and i have tried this on two different machines with exactly the same result..

basically anything that requires my card to switch to 3D mode dosnt work without me doing a fresh clean install of the nvidia drivers every time.. the cards/card dosnt switch to 3D mode after running the nicehash miner..

its fine for browsing and video watching or whatever with the miner running but for the valley benchmark for example it stays in 2d mode at 1 frame per second even without the miner running..

it has to be the nicehash mining software doing something to the nvidia drivers.. i havnt fully figured out whats happening yet but something is..

at first i thought i had dud card but its something the mining software is doing to the drivers.. a clean driver install fixes it.. until the mining software is run again then its no 3D mode..

trog

karma

(just picking on ya haha) I have no idea. weird glitch I guess.

 

[Final_Fighter]

I am. To game on. RTX to mine on. Or mine with a 6900xt and game on a 3080. The choices are endless!

you should look at "staking" your earnings in stable coins and earning interest on them. if you invested in something like aave and left them staked you could earn a decent amount of interest per month. another thing to consider with mining eth right now and why i think bsc is going threw the roof is the cost to mine. countrys are signing agreements to cut pollution and countrys like china, U.S. and EU could get closer to zero emissions by banning crypto. the market would tank but coins on bsc would stay afloat because they dont need mining the way the eth network does. i just dont see us having enough nuclear plants by 2030 to power all this and there is no way windmills will run crypto farming. just thinking out loud. but then again i think most corporations know this stuff will likely fail and thats why walmart and amazon are still building fueling stations around the world and im not talking about "Clean energy charging stations" im talking about gasoline/petroleum. theres one going in next to where my family is living as i type.