Bitcoin price suddenly surges to 3-year high

[R-T-B]

true mr frog but some of us know a little more about how things work than others.. he he

trog

We all think we do. What the future holds is not ever certain though.

I would argue some of us have more first-hand experience than others though, that's for sure.

 

[Space Lynx]

Elon Musk
@elonmusk
·
14m
SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!

Elon just tweeted the above... Dogecoin went from 43 cents to 58 cents instantly... how is this not highway robbery? To be so blatant and call it a hustle the night before on SNL, and now to tweet that 12 mins ago... like seriously, are there no laws at all that protect people from scammers? lol... sad.

hard to believe this guy started Tesla and solar roof company, he doesn't give a crap about climate change endorsing bitcoin/crypto.

 

[phill]

I do wonder why there's such hate behind Crypto.. I mean, its not like you have to worry about it or get involved with it if you don't want to do so?

But still, I've done this sort of thing twice now and each time it's been just fun more than anything. This time it's been more interesting with the way in which stocks are and the rest of the rubbish going on (we don't need to re-hash all that crap - excuse the pun...) but for those not having tried it or just going down the politics route, nothing is going to change over night with this and whilst there's still nothing much in place about you can or can't, just enjoy it.

If you earn money from it, pay your taxes and off you go. There's so little to worry about I'm helping a friend out doing what we are doing, I have no issues with it at all. If everything goes Pete Tong tomorrow, we have a few choices but there's always something else we can try

What has been funny too me is that I'm a keeper of data, when we started back in 2017 I think, it was about $10 to $15 a coin... When we started looking at it in the beginning of the year it was just over a $1000 and last week it was about the $2800 marker, now its touching on $4000... So if you've been able to mine even just a 0.1 of a coin in that time, you cash has gone from $280 to $400.. I'm guessing your electric and such has stayed the same but an extra $120 for literally not much... What's not too like??

 

[freeagent]

I do wonder why there's such hate behind Crypto.. I mean, its not like you have to worry about it or get involved with it if you don't want to do so?

I would hazard a guess and say those high end cards needed to mine are almost impossible to get a hold of, but a miner will post a pic of 7 of them on his kitchen table like its nothing.

 

[Hemmingstamp]

What's not too like??

Not having a stack of 3090's to join in the fun for a start.

 

[trog100]

I do wonder why there's such hate behind Crypto.. I mean, its not like you have to worry about it or get involved with it if you don't want to do so?

But still, I've done this sort of thing twice now and each time it's been just fun more than anything. This time it's been more interesting with the way in which stocks are and the rest of the rubbish going on (we don't need to re-hash all that crap - excuse the pun...) but for those not having tried it or just going down the politics route, nothing is going to change over night with this and whilst there's still nothing much in place about you can or can't, just enjoy it.

If you earn money from it, pay your taxes and off you go. There's so little to worry about I'm helping a friend out doing what we are doing, I have no issues with it at all. If everything goes Pete Tong tomorrow, we have a few choices but there's always something else we can try

What has been funny too me is that I'm a keeper of data, when we started back in 2017 I think, it was about $10 to $15 a coin... When we started looking at it in the beginning of the year it was just over a $1000 and last week it was about the $2800 marker, now its touching on $4000... So if you've been able to mine even just a 0.1 of a coin in that time, you cash has gone from $280 to $400.. I'm guessing your electric and such has stayed the same but an extra $120 for literally not much... What's not too like??

coiners and no coiners phil.. the hatred is based on pure envy nothing else.. the no coiners hate themselves for not getting in on the act sooner and are jealous of those that did..

the green eyed god is a spiteful god..

trog

 

[freeagent]

That's kind of a shitty attitude. I don't envy you, I only envy your GPU.

 

[phill]

I would hazard a guess and say those high end cards needed to mine are almost impossible to get a hold of, but a miner will post a pic of 7 of them on his kitchen table like its nothing.

You don't need high end cards really, anything works as long as it has the memory for it (if you mine Eth as an example) I'm still using my 480's I had back in 2017, they are still working. Granted they aren't very efficient and the hashrates are low, but they are still earning something, even with what I'd call high electric costs (even with solar panels) so depending on the miner, the person might have a brain, they might not.

You can go over to Reddit and see the mining threads over there with the amount of people running masses of hardware. It can be done with one card or a hundred, it just depends on the person, the limits, what they can use and so on Youtube isn't any different sadly. It all rubs it in peoples faces but we seem to be people who need to show off, get the likes, get the good or bad comments because after all bad comments or recognition is better cos it annoys people right?? Well, in that case, if it bothered people that much, turn down the focus on it and it might go away or might not be such a heated issue.

Well that seems to be what I feel common sense is like... I suppose kinda like when you were at school and picked on by a bully or whatever. The more they see it affecting you the more they do it, if they see it doesn't do a damn thing for you, what are they going to do - carry on or leave you alone and find someone else? Just a bit of thought from me for the day. Promise I won't do it again

 

[Hemmingstamp]

coiners and no coiners phil.. the hatred is based on pure envy nothing else.. the no coiners hate themselves for not getting in on the act and are jealous those that did..

the green eyed god is a spiteful god..

trog

I'm pretty meh on the whole Bitcoin thing. Good for those who can make some extra cash from it is all I can say.

 

[Vya Domus]

Cryptos history disagrees with that honestly.

That's deceiving and inaccurate. The history of 0.1% of all crypto that managed to survive for at least a couple of years and garner some traction disagrees with that, the rest of the coins that ended up into oblivion throughout all these years don't.

I mean the meme of hodling was literally born from the absolute conviction people have that bitcoin will keep rising in price, i.e infinite growth.

hard to believe this guy started Tesla

He literally did the same with Tesla as well, a company which didn't make a dime in profit until last year is hyped so much that it is now valued more than the top few car manufactures around the world combined.

 

[Space Lynx]

I do wonder why there's such hate behind Crypto.. I mean, its not like you have to worry about it or get involved with it if you don't want to do so?

But still, I've done this sort of thing twice now and each time it's been just fun more than anything. This time it's been more interesting with the way in which stocks are and the rest of the rubbish going on (we don't need to re-hash all that crap - excuse the pun...) but for those not having tried it or just going down the politics route, nothing is going to change over night with this and whilst there's still nothing much in place about you can or can't, just enjoy it.

If you earn money from it, pay your taxes and off you go. There's so little to worry about I'm helping a friend out doing what we are doing, I have no issues with it at all. If everything goes Pete Tong tomorrow, we have a few choices but there's always something else we can try

What has been funny too me is that I'm a keeper of data, when we started back in 2017 I think, it was about $10 to $15 a coin... When we started looking at it in the beginning of the year it was just over a $1000 and last week it was about the $2800 marker, now its touching on $4000... So if you've been able to mine even just a 0.1 of a coin in that time, you cash has gone from $280 to $400.. I'm guessing your electric and such has stayed the same but an extra $120 for literally not much... What's not too like??

A) I don't hate crypto miners, I understand from a sociological level that short term human greed is not an easy thing to get rid of, though I would point out it is one of the few things we share with actual animals and the limbic system in general. Our cortex system is what makes us unique, and doesn't necessarily care about short term greed.

B) What's not to like is Bitcoin uses 3-5 countries worth of electricity, and when you add in all other crypto and tokens and the infrastructure for many exchanges around the world, etc it comes closer to 10-40 countries (I can't do all the math but I know its a lot)... keep in mind this is all within last 10-15 years... climate change scientists never calculated this into their equations... yes fiat pollutes too, true, but fiat was going to stay, has been here, and will continue to be here... so defending that argument by stating fiat pollutes to is a null statement... crypto is relatively new all things considered from a geological standpoint in relation to climate change calculations.

C) The hypocrisy of Elon Musk's companies and goals with Tesla, Solar Roof, Powerbank, etc - all climate change things to help long term are negated by his hypocrisy of single handedly giving bitcoin and crypto legitimacy at a corporate and banking level.... it leaves a taste of disgust in my mouth. Disgust we are born with, not culture. I have pure disgust for Elon and his companies now, all hopes for climate change progress have vanished.

coiners and no coiners phil.. the hatred is based on pure envy nothing else.. the no coiners hate themselves for not getting in on the act and are jealous those that did..

the green eyed god is a spiteful god..

trog

Not jealousy, but if you can at least do something for climate change, perhaps a local organization near you that does a lot of good things (picking up trash, or anything basic even) consider donating 1% of your wealth to them or that organization before you die someday, that's at least worth a try for making up for the collective failure that is the human species, and hoping that our offspring defeat the limbic system with their cortex more often than not.

 

[phill]

Not having a stack of 3090's to join in the fun for a start.

They are the worst possible card to run on so, be grateful!!

 

[Hemmingstamp]

They are the worst possible card to run on so, be grateful!!

Shows how much I know about BC then

 

[freeagent]

It wont always be like this. There will be a time again where miners can mine, and gamers can game, and people in between can just stare at their hardware

 

[Hemmingstamp]

It wont always be like this. There will be a time again where miners can mine, and gamers can game, and people in between can just stare at their hardware

Yeah. Sometime in the future, in a galaxy far far away.

 

[lexluthermiester]

I do wonder why there's such hate behind Crypto..

Because it is causing so many problems the world over. GPU shortage, power grid overloads in area's were power is already at it's peak load, not to mention that the GPU's in question are running full load 24/7, which normally wouldn't happen and that is making problem for power production. Said GPU shortage is causing tech infrastructure problems to the point where businesses who build PC's can't get the parts they need to build system and thus business suffers.

This list goes on. GPU based crypto needs to die, quickly. The rest of cryptocoin I couldn't care less about..

 

[freeagent]

Yeah. Sometime in the future, in a galaxy far far away.

That music is now playing thank you.

 

[trog100]

lynx i happen to believe that we are but clever monkeys and are motivated (mostly) by monkey like things.. all the rest is simply kidology.. we dont even have the brains to know what we are..

when we figure this last one out we might begin to get somewhere..

trog

 

[Hemmingstamp]

we dont even have the brains to know what we are..

Speak for yourself. I self identify as an RTX 3080.

 

[lexluthermiester]

lynx i happen to believe that we are but clever monkeys and are motivated (mostly) by monkey like things..

Trog, please refrain from insulting monkeys. It's not very nice...

 

[phill]

Shows how much I know about BC then

To run something like mining, is I don't believe anything much more different than the World Grid Computing or even Folding At Home.

See its not the case of who's finishing first but what's the most efficient and effective way of doing something. Example. 3090 we can pick on. Buy something nearly twice the price of a 3080 or even better a 3070. The 3090s get very hot with the memory they use (same as the 3080s but not so much...) and produce not a massively great hash rate. If miners can save a few hundred watts in their systems, they will do so, because it's just eating into their profits. Having solar panels and batteries etc. to help with the power costs is great plus helps with the environment as well.. But the problem you'll have is some countries are cheap with electric and others are completely over the top expensive for whatever reason (I've no idea, just saying there's always a difference/variance)
Along comes the 3070s... Half the hash rate of a 3090 say, but less than half of the power used and it costs say for argument, a third or more of the price. Now if you can get things equally, which are you going to buy??

You don't need to worry about the RAM or TJunction temps in the 3070s because they don't use GDDR6X for a kick off and with that don't have to take apart most cards to get the temps to drop down a bit. More time and money away from your profits.
The 3060/3070 heck even the 1660 or 1660 Supers and whatever else is out there, are fairly decent to mine on. They sip the power, they aren't normally so expensive, what's not to like at this point? I love the hardware whatever I get my hands on, but then it's not just this I can get it too do should my PC/s be on all the time.
Thing with mining is like with anything, you can control how long it runs or doesn't, it doesn't need to run 24/7 if you don't want it to, just means the profits won't be as much. If your a gamer who's got some cards, makes some pennies and is able to buy a new card from it eventually, are you telling me you wouldn't give it a try and see how it works for you?....

Because it is causing so many problems the world over. GPU shortage, power grid overloads in area's were power is already at it's peak load, not to mention that the GPU's in question are running full load 24/7, which normally wouldn't happen and that is making problem for power production. Said GPU shortage is causing tech infrastructure problems to the point where businesses who build PC's can't get the parts they need to build system and thus business suffers.

This list goes on. GPU based crypto needs to die, quickly. The rest of cryptocoin I couldn't care less about..

I think that might not be quite 100% the case because of Crypto but I respect the opinion

I think this pandemic has just amplified all things crappy with things and like GPU sales, items not being in a plentiful stock it's making things hard and harder to get hold of.

I remember something ages ago which always stuck in my head, was on Top Gear of all things (if its 100% true or not I really don't know) but it's said that here in the UK, we produce just 5% more than what is required for our electric. So when you think that electric can be/is used for pretty much everything and now even cars of all things, how is that going to affect the infrastructure when everything relies on something that producing takes years to put together, isn't environment friendly and if there's a shortage like now, they'll just charge you more for it. I mean that's just really does boggle my little brain on a few levels and whilst I'm definitely not a rocket scientist, I do get questions in my head about the whole situation....

 

[RandallFlagg]

Elon Musk
@elonmusk
·
14m
SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!

Elon just tweeted the above... Dogecoin went from 43 cents to 58 cents instantly... how is this not highway robbery? To be so blatant and call it a hustle the night before on SNL, and now to tweet that 12 mins ago... like seriously, are there no laws at all that protect people from scammers? lol... sad.

hard to believe this guy started Tesla and solar roof company, he doesn't give a crap about climate change endorsing bitcoin/crypto.

This happens all the time to stocks. The so-called "analysts" they have on TV are just selling stuff.

This is what pissed off the RobinHood users more than anything, little guy hypes something on Reddit and gets investigated, high profile hedge fund manager or TV "Analyst" does it and no one says anything. In this, I agree with them. It happens - every - single - day, I've seen it in the past month in things like oil tanker stocks, BDC (Bus development companies), and just last week MLPs which allow you to buy a unit in a trust that owns fixed assets like oil wells and pipelines.

Remember Herbalife? Bill Ackman went on TV and said it was a pyramid scheme and tried to crash the stock while he was short on the stock. He ran right into Carl Icahn who was long in the stock. These are two of the biggest hedge fund twits, er titans, in the business. They wound up suing each other and it was a big ongoing drama queen shit show.

The clown Ackman was actually short the stock for 5 years from 2013 - 2019. Today Herbalife is a $50 stock with $3.74/share earnings with a PE of 13.3 - and that's after it went up by 330% since their drama show about 6 years ago. That is clearly not a pyramid scheme stock with those kind of earnings after this amount of time.

 

[Hemmingstamp]

To run something like mining, is I don't believe anything much more different than the World Grid Computing or even Folding At Home.

See its not the case of who's finishing first but what's the most efficient and effective way of doing something. Example. 3090 we can pick on. Buy something nearly twice the price of a 3080 or even better a 3070. The 3090s get very hot with the memory they use (same as the 3080s but not so much...) and produce not a massively great hash rate. If miners can save a few hundred watts in their systems, they will do so, because it's just eating into their profits. Having solar panels and batteries etc. to help with the power costs is great plus helps with the environment as well.. But the problem you'll have is some countries are cheap with electric and others are completely over the top expensive for whatever reason (I've no idea, just saying there's always a difference/variance)
Along comes the 3070s... Half the hash rate of a 3090 say, but less than half of the power used and it costs say for argument, a third or more of the price. Now if you can get things equally, which are you going to buy??

You don't need to worry about the RAM or TJunction temps in the 3070s because they don't use GDDR6X for a kick off and with that don't have to take apart most cards to get the temps to drop down a bit. More time and money away from your profits.
The 3060/3070 heck even the 1660 or 1660 Supers and whatever else is out there, are fairly decent to mine on. They sip the power, they aren't normally so expensive, what's not to like at this point? I love the hardware whatever I get my hands on, but then it's not just this I can get it too do should my PC/s be on all the time.
Thing with mining is like with anything, you can control how long it runs or doesn't, it doesn't need to run 24/7 if you don't want it to, just means the profits won't be as much. If your a gamer who's got some cards, makes some pennies and is able to buy a new card from it eventually, are you telling me you wouldn't give it a try and see how it works for you?....


I think that might not be quite 100% the case because of Crypto but I respect the opinion

I think this pandemic has just amplified all things crappy with things and like GPU sales, items not being in a plentiful stock it's making things hard and harder to get hold of.

I remember something ages ago which always stuck in my head, was on Top Gear of all things (if its 100% true or not I really don't know) but it's said that here in the UK, we produce just 5% more than what is required for our electric. So when you think that electric can be/is used for pretty much everything and now even cars of all things, how is that going to affect the infrastructure when everything relies on something that producing takes years to put together, isn't environment friendly and if there's a shortage like now, they'll just charge you more for it. I mean that's just really does boggle my little brain on a few levels and whilst I'm definitely not a rocket scientist, I do get questions in my head about the whole situation....

At today's GPU prices Phill the answer would be no. I'm not willing to pay scalper prices. You could say 'yeah but you're in the minority', that's fine with me.
Now If I did see reasonably priced cards I'd probably jump at the chance. Our Electricity prices have just risen BTW so mining for me alone would probably not be very profitable.

Thanks for the info, I'll keep it on mind should a good mining card come my way.

Edit: I have a 2070 Super and a 980Ti in my posession. I could become one of those scalpers to a degree if I wanted to sell it, but with shortages the 2070 will remain with me unless we see cards coming back in stock. The 980Ti toaster can have a new home though.

 

[lexluthermiester]

I think that might not be quite 100% the case because of Crypto but I respect the opinion

Not all cryptocoin, just the GPU based variants..

 

[phill]

At today's GPU prices Phill the answer would be no. I'm not willing to pay scalper prices. You could say 'yeah but you're in the minority', that's fine with me.
Now If I did see reasonably priced cards I'd probably jump at the chance. Our Electricity prices have just risen BTW so mining for me alone would probably not be very profitable.

Thanks for the info, I'll keep it on mind should a good mining card come my way.

Edit: I have a 2070 Super and a 980Ti in my posession. I could become one of those scalpers to a degree if I wanted to sell it, but with shortages the 2070 will remain with me unless we see cards coming back in stock. The 980Ti toaster can have a new home though.

I don't pay scalper prices either and I try to only buy from a reputable source or company

The UK electric prices aren't good but they are still profitable just not as much as if your in the States or in China... And then it comes to how much you wish to mine, 24/7, 12/3 or whatever it is. I always would suggest budget for what you can do don't over push just in case. There's always the off button

Keep the 2070 and the 980 Ti I'd say... You never know when a decent GPU might be needed, regardless of the crap going on right now with pricing.. Having that spare just in case is always a bonus Could always knock up a spare rig and let it run WCG or FAH if you wished to give it a go

Not all cryptocoin, just the GPU based variants..

Again you could just buy it, some prefer to mine it It's the timing game I think... Get in at the right time you'll be quids in so to speak... Trying to get in now? Wouldn't even bother....