Bitcoin price suddenly surges to 3-year high

[sepheronx]

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.

Banning crypto mining hasn't done anything. It was banned in China years ago and the mining craze is continuing.

Believe it or not, governments are making a fair chunk of banking in crypto taxes. Add in that crypto is being used to help trade amongst sanctioned states, it won't go away.

I keep hearing this all the time and it is just ridiculous people believe this notion.

Makes it more ridiculous when major Chinese institutions, institutions in Canada and US are also now involved in crypto mining by investing millions or billions into it gives me indication that everyone has interest in it and it won't go away.

 

[Final_Fighter]

Banning crypto mining hasn't done anything. It was banned in China years ago and the mining craze is continuing.

Believe it or not, governments are making a fair chunk of banking in crypto taxes. Add in that crypto is being used to help trade amongst sanctioned states, it won't go away.

I keep hearing this all the time and it is just ridiculous people believe this notion.

Makes it more ridiculous when major Chinese institutions, institutions in Canada and US are also now involved in crypto mining by investing millions or billions into it gives me indication that everyone has interest in it and it won't go away.

i should clearify. i dont think crypto is going away. if i did i would have not suggested staking in a crypto platform. what i was meaning by what i said above is that governments will probably ban crypto to get rid of miners. the crypto itself wont go away but will evolve onto other more lean running platforms such as bsc. i share the same view as you on crypto btw.

 

[sepheronx]

i should clearify. i dont think crypto is going away. if i did i would have not suggested staking in a crypto platform. what i was meaning by what i said above is that governments will probably ban crypto to get rid of miners. the crypto itself wont go away but will evolve onto other more lean running platforms such as bsc. i share the same view as you on crypto btw.

Fair enough.

But it won't get banned simply because many institutions now invest in mining as well. Once the big players get involved, they "legitimize" it in a sense.

 

[trog100]

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.

just to take this one a little further i just tried another little test.. running furmark at 1080 while the nicehash miner is still running.. my expected result was a very slow furmark and a very low hashrate.. the actual result was two fps in furmark and the miners hashrate carried on as normal.. the card trying to run furmak stayed in 2D mone..

quite clearly the hicehash software stops the mining card from running any 3D operation from running while it is running to do this it must alter the nvidia drivers needing a clean nvidia driver install to get anything 3D working again.. a normal install dosnt change anything it has to be a clean install..

i think its connected with the new nicehash quick miner..

trog

ps.. the quick miner insists on a new driver install the first time you run it.. it does this even though the latest nvidia drivers are all ready installed.. i think the quick miner actually borks the nvidia driver while its being installed .. all a bit dodgy if you ask me..

 

[fullinfusion]

just to take this one a little further i just tried another little test.. running furmark at 1080 while the nicehash miner is still running.. my expected result was a very slow furmark and a very low hashrate.. the actual result was two fps in furmark and the miners hashrate carried on as normal.. the card trying to run furmak stayed in 2D mone..

quite clearly the hicehash software stops the mining card from running any 3D operation from running while it is running to do this it must alter the nvidia drivers needing a clean nvidia driver install to get anything 3D working again.. a normal install dosnt change anything it has to be a clean install..

i think its connected with the new nicehash quick miner..

trog

ps.. the quick miner insists on a new driver install the first time you run it.. it does this even though the latest nvidia drivers are all ready installed.. i think the quick miner actually borks the nvidia driver while its being installed .. all a bit dodgy if you ask me..

I think the new version has an OC or optimization going on and probably should give it try for the hell of it. I know My radeon card wont use the lastest software that your talking about.

 

[trog100]

i dont use the OC option.. i set my own levels.. i may try going back to the old software just to see if that borks the 3D option.. i dont think it does..

trog

 

[sepheronx]

on my main gaming rig I dont bother with quickminer. I just use basic mining application so that when I game, I simply hit the pause button on the application which closes the mining, run default or my gaming profile (in AMD for my 6800xt. If it is Nvidia, it was using the MSI afterburner) and then game. When done gaming, load the mining profile and just let it run again.

The game mode in quick miner didn't work for me so I just left it alone.

 

[ZenZimZaliben]

ETH new ATH! 2600!!!!!

 

[Liquid Cool]

Back when I instructed people in the use of Technical Analysis. One of the first things I would teach is to look for the signature in an issue of interest. All stocks have a signature. No two are alike.

I'll just leave this here.



Best Regards,

Liquid Cool

 

[Space Lynx]

ETH new ATH! 2600!!!!!

when it goes up in price like this it means its harder to mine right? so if i were to start mining now, instead of like making 6 bucks a day like two weeks ago, now its down like 4 bucks a day? or would i make more if i started up nicehash now?

Back when I instructed people in the use of Technical Analysis. One of the first things I would teach is to look for the signature in an issue of interest. All stocks have a signature. No two are alike.

I'll just leave this here.

View attachment 197746

Best Regards,

Liquid Cool

It's different this time. The context is different, it's widely accepted now, and Fiat governments are so desperate for extra tax revenue they will never kill it off now. I'm still amazed how many world government's haven't legalized marijuana and taxed it to pay off debts or something useful. Amazing how much revenue they have lost over the decades.

 

[trog100]

when it goes up in price like this it means its harder to mine right? so if i were to start mining now, instead of like making 6 bucks a day like two weeks ago, now its down like 4 bucks a day? or would i make more if i started up nicehash now?



It's different this time. The context is different, it's widely accepted now, and Fiat governments are so desperate for extra tax revenue they will never kill it off now. I'm still amazed how many world government's haven't legalized marijuana and taxed it to pay off debts or something useful. Amazing how much revenue they have lost over the decades.

modern monetary theory goes along the lines of if you need more money just print it. which is basically what current government are doing now.. they call it debt but it isnt really its just more new money created out of thin air.. the problem is once turned on the money machines cant be turned off..

this begs a simple question.. why tax people when all you have to do is print more money.. tax isnt used to pay for things like you think it is.. its simple a tool to decide what money goes where or who get what.. its an income re-distribution tool nothing else..

does modern monetary theory work.. yes until it dosnt.. what happens then nobody knows but the common consensus is.. it wont be good..

trog

 

[ZenZimZaliben]

when it goes up in price like this it means its harder to mine right? so if i were to start mining now, instead of like making 6 bucks a day like two weeks ago, now its down like 4 bucks a day? or would i make more if i started up nicehash now?



It's different this time. The context is different, it's widely accepted now, and Fiat governments are so desperate for extra tax revenue they will never kill it off now. I'm still amazed how many world government's haven't legalized marijuana and taxed it to pay off debts or something useful. Amazing how much revenue they have lost over the decades.

You should make more mining as the value increases. Plus the more value it has the more block-chain transactions take place which you also get paid for.

 

[Zach_01]

Mining difficulty is determined by total hash rate. The more people in it the more the difficulty increases. And a lot of people are in and out of mining driven from price (wrong IMO). Mining profits are determined by price, by how many people are in mining(diff), by number of total transactions and by transaction fee rates/price (GAS=Gwei for ETH, for example).

 

[trog100]

there will be big panic in the crypto markets today.. he he..

i see bitcoin at 48K.. somewhere it should definitely not be..

trog

 

[sepheronx]

there will be big panic in the crypto markets today.. he he..

i see bitcoin at 48K.. somewhere it should definitely not be..

trog

So what you make of it? If it gets that low, you expect a major jump afterwards or what?

 

[Space Lynx]

So what you make of it? If it gets that low, you expect a major jump afterwards or what?

depends where the wallet dumps came from, if it was China again, then its just another pump and dump temp pyramid scheme.

 

[sepheronx]

depends where the wallet dumps came from, if it was China again, then its just another pump and dump temp pyramid scheme.

Rumors are everywhere from going after people to pay their coin taxes to a Turkish coin market going bust.

This was well predicted though:
https://www.reddit.com/r/Bitcoin/comments/l90yby

 

[64K]

there will be big panic in the crypto markets today.. he he..

i see bitcoin at 48K.. somewhere it should definitely not be..

trog

It's like that in most markets. Most buyers buy when the price is already too high. Warren Buffett had this to say about investing:

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

 

[Space Lynx]

It's like that in most markets. Most buyers buy when the price is already too high. Warren Buffett had this to say about investing:

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

Warren Buffet underestimated the idiots of the world though, DOGECOIN TO THE MOON BOIS!!!

lulz

 

[trog100]

the big fear will be.. has the market reached a top and will it be downhill from here on in.. he he..

i think its the whales playing whale games but that is just my opinion..

if the US stock markets take a dump it may go down further.. there is a lot of fear about..

trog

 

[Space Lynx]

the big fear will be.. has the market reached a top and will it be downhill from here on in.. he he..

i think its the whales playing whale games but that is just my opinion..

if the US stock markets take a dump it may go down further.. there is a lot of fear about..

trog

the fact its even tied to this dollar in this proves its not the future. and the fact whales can manipulate it so easily another reason its not the future. keep in mind i'm talking long term future - short term yeah its a real thing as we have already seen.

 

[ZenZimZaliben]

This 'dip' is because Biden is going to impose a 40% increase on capital gains tax. People want to cash in some before that takes effect. Again, it's a sale that you may not want to miss out on.

the fact its even tied to this dollar in this proves its not the future. and the fact whales can manipulate it so easily another reason its not the future. keep in mind i'm talking long term future - short term yeah its a real thing as we have already seen.

Well in China it's tied to the Yuan, in Japan to the Yen, in the USA the Dollar and so on and so on. You have to spend fiat to get BTC so of course it's tied to it, not sure why you tout that as a bad thing, it's a matter of how much fiat you have to spend to get 1 BTC and that is based on many things. My employer doesn't pay me in BTC but if they did I would not rely on fiat as much.

 

[mtcn77]

When I see fools like this, I want to join the Ayn Rand Institute and spread around Atlas Shrugged into the far reaches of the world where common sense is replaced by blind faith.
FYI, we just had a swindler who ran away with $2B going by the company name of 'Thodex' as if that wasn't a give away for those swindled.

 

[Space Lynx]

Well in China it's tied to the Yuan, in Japan to the Yen, in the USA the Dollar and so on and so on. You have to spend fiat to get BTC so of course it's tied to it, not sure why you tout that as a bad thing, it's a matter of how much fiat you have to spend to get 1 BTC and that is based on many things. My employer doesn't pay me in BTC but if they did I would not rely on fiat as much.

Incorrect. It's tied to the dollar only. No one in China is pay 20k a coin in converted Dollar amounts, even if it is yuan, its yuan that equates to the dollar amount of Bitcoin at that current time. Bitcoin is still a slave to fiat and always will be. A true currency that replaces fiat and is global for all, will be based off a new revelation of thinking.

 

[sepheronx]

When I see fools like this, I want to join the Ayn Rand Institute and spread around Atlas Shrugged into the far reaches of the world where common sense is replaced by blind faith.
FYI, we just had a swindler who ran away with $2B going by the company name of 'Thodex' as if that wasn't a give away for those swindled.

Ah, so that is what the Turkish investor/coin trader thing was all about.