Cryptocoin Value and Market Trend Discussion

trog100 · Aug 7, 2022

been away for couple of weeks.. not a lot has happened during this time.. bitcoin hovering around 23K with eth around 1.7k.

the general feeling is that things will start to move up from here but time will tell.. feelings dont mean that much..

trog

ThrashZone · Aug 7, 2022

trog100 said:
thursday evening here in the UK.. bitcoin now at 58K with eth at 4K..

58K may be the bottom but it could go a bit lower.. its hard to say..

it gone lower than i expected it to but i still think its ready to shoot higher and soon..

trog

Hi,
Quite a change :laugh:

DeathtoGnomes · Aug 7, 2022

trog100 said:
the general feeling is that things will start to move up from here but time will tell.. feelings dont mean that much..

my general feeling is that will change with the next nvidia launch.

Dristun · Aug 7, 2022

DeathtoGnomes said:
my general feeling is that will change with the next nvidia launch.

genuinely interested what's the thesis here, if it's not sacrasm, considering that the merge is almost upon us and there are no expectations among the market participants for any long-term successful forks

lexluthermiester · Aug 7, 2022

DeathtoGnomes said:
my general feeling is that will change with the next nvidia launch.

Unlikely. That's based on a hunch, which is based an a number of factors. Time will tell though..

Dristun said:
genuinely interested what's the thesis here, if it's not sacrasm, considering that the merge is almost upon us and there are no expectations among the market participants for any long-term successful forks

Most GPU based coins are gearing up to switch over to Proof of Stake instead of Proof of Work models, which means that GPU's will be much less useful and much less valuable in mining.

Dristun · Aug 7, 2022

lexluthermiester said:
Most GPU based coins are gearing up to switch over to Proof of Stake instead of Proof of Work models, which means that GPU's will be much less useful and much less valuable in mining.

This I understand, it's fairly obvious. Though I feel like a have a reading comprehension problem here, haha. Deathtognomes said that crypto prices will change around the nvidia launch, right? That's what I don't get. I don't even see how these two things are correlated.

DeathtoGnomes · Aug 7, 2022

Dristun said:
Deathtognomes said that crypto prices will change around the nvidia launch, right?

Would it have been clearer if I had said "my Magic 8-ball says..."? I can understand how speculation gets mistaken for fact, but anything and everything relating to the future (prediction,foresight,etc.) is nothing less than speculation. Just like others have said(speculated) that mining will switch from Eth to Ravencoin (couple others too) after the changeover. I for one am worried that 4000 series will be botted up again when I was planning on grabbing a new card at that time. That worry provokes me to speculate negatively.

Hows that for a partial Thesis?

Dristun · Aug 7, 2022

DeathtoGnomes said:
Would it have been clearer if I had said "my Magic 8-ball says..."? I can understand how speculation gets mistaken for fact, but anything and everything relating to the future (prediction,foresight,etc.) is nothing less than speculation. Just like others have said(speculated) that mining will switch from Eth to Ravencoin (couple others too) after the changeover. I for one am worried that 4000 series will be botted up again when I was planning on grabbing a new card at that time. That worry provokes me to speculate negatively.

Hows that for a partial Thesis?

Much better now! Number go down, gonna short with my entire account

DeathtoGnomes · Aug 7, 2022

Dristun said:
Much better now! Number go down, gonna short with my entire account

I hate you for making me do that, may a thousand fleas infest your account. :roll:

Bomby569 · Aug 8, 2022

dragontamer5788 said:
150k-ish BTC is the amount remaining in the wallet. IIRC there was around 700k BTC before the crisis, but its been like 8 years so I don't really remember all the details.

IIRC, the "stolen" BTC from Mt. Gox hasn't moved. There's probably a fear that the world's collective police agencies (FBI, Interpol, etc. etc.) will track whoever touches the "stolen Mt. Gox bitcoins". But again, I haven't really paid attention to this Mt. Gox thing until recently (now that the redistribution seems closer than ever).

don't quote me on this but i think i remember someone already got caught with part of the Mt. Gox stolen crypto

Bomby569 · Aug 11, 2022

Texas paid this company to mine bitcoin during an ongoing energy crisis

Meanwhile, Texans are paying 50% more in electricity costs compared to last year.

www.pcgamer.com

if you don't find this hilarious you're dead inside :laugh:

lexluthermiester · Aug 11, 2022

Please see other thread..

KLiKzg · Aug 13, 2022

Bomby569 said:
Texas paid this company to mine bitcoin during an ongoing energy crisis

Meanwhile, Texans are paying 50% more in electricity costs compared to last year.

www.pcgamer.com

if you don't find this hilarious you're dead inside

Why would anyone want to mine BTC in current state of price & probability? :confused:

Bomby569 · Aug 13, 2022

KLiKzg said:
Why would anyone want to mine BTC in current state of price & probability?

whit free electricity

trog100 · Aug 13, 2022

KLiKzg said:
Why would anyone want to mine BTC in current state of price & probability?

bitcoin is (or should be) seen as a long term investment..

trog

KLiKzg · Aug 13, 2022

Bomby569 said:
whit free electricity

Well, there are easier ways to get other coins...then you transfer them in BTC & pump the BTC price that way.

It is simple economics...not a science! :cool:

lexluthermiester · Aug 13, 2022

KLiKzg said:
Why would anyone want to mine BTC in current state of price & probability?

Because some do not think the current condition will be permanent. They mining for futures.

KLiKzg · Aug 13, 2022

lexluthermiester said:
Because some do not think the current condition will be permanent. They mining for futures.

If you could not catch me up, then try this:
- using hardware will get to 10 BTC with price of 20k USD, for example. But greater the number of BTC, it will drive the price of BTC down to 19,5k USD, example only.
Compared to:
- using hardware on some other crypto XYZ will get you number of coins worth 15 BTC
- changing them on exchange to BTC will loose you for example 5% most, which is 0,75 BTC...you are still left with 14,25 BTC
- buying 15 BTC on exchange will make price of BTC jump from 20k to 21k USD, just example

So I ask again, why would anyone try to crunch more BTC right now? Even with FREE electricity! :cool:

It is not science, only economics.

LFaWolf · Aug 15, 2022

KLiKzg said:
If you could not catch me up, then try this:
- using hardware will get to 10 BTC with price of 20k USD, for example. But greater the number of BTC, it will drive the price of BTC down to 19,5k USD, example only.
Compared to:
- using hardware on some other crypto XYZ will get you number of coins worth 15 BTC
- changing them on exchange to BTC will loose you for example 5% most, which is 0,75 BTC...you are still left with 14,25 BTC
- buying 15 BTC on exchange will make price of BTC jump from 20k to 21k USD, just example

So I ask again, why would anyone try to crunch more BTC right now? Even with FREE electricity!
It is not science, only economics.

Those machines were built with ASICs specifically to mine BTC. I don't think they can be switched on the fly to mine something else. Also, what coins can be mined that have 75% of the value of BTC?

lexluthermiester · Aug 15, 2022

KLiKzg said:
If you could not catch me up, then try this:
- using hardware will get to 10 BTC with price of 20k USD, for example. But greater the number of BTC, it will drive the price of BTC down to 19,5k USD, example only.
Compared to:
- using hardware on some other crypto XYZ will get you number of coins worth 15 BTC
- changing them on exchange to BTC will loose you for example 5% most, which is 0,75 BTC...you are still left with 14,25 BTC
- buying 15 BTC on exchange will make price of BTC jump from 20k to 21k USD, just example

So I ask again, why would anyone try to crunch more BTC right now? Even with FREE electricity!
It is not science, only economics.

Again, you're not thinking about the future, which is why you don't see the reasoning. That's your problem.

trog100 · Sep 15, 2022

birdie said:
Ethereum mining is over and done with.

Expect a huge amount of used card on the second-hand market.

The Merge is here: Ethereum has switched to proof of stake

No one knows exactly what the cryptocurrency platform’s big upgrade has in store for the industry.

www.technologyreview.com

Before someone asks what about mining other coins? Well, if all the ethereum miners join other coins block rewards will plummet so much, mining will become unprofitable almost instantly.

yep but there is no change in the price which i find a bit odd..

trog

TheoneandonlyMrK · Sep 15, 2022

birdie said:
A change in the price of Eth? Why would it change? How blocks are mined/proven have zero relevance to Ethereum's use in the real world.

All the cryptos are nothing more than wild trading assets with zero innate value, their value exists solely due to PR/marketing/advertising/social networks/etc.

They are used here and there but trading constitutes 99.99% of their volume and value which is insane if you think about it. How many coins have vanished over the past decade? Thousands.

Most are are great "solutions" to made up problems. In reality, we barely need more than a dozen if not fewer. BTC/ETH/BNB/TUSD/Monero and that's it. The rest is just junk/Ponzi schemes.

You have misunderstood ETH by the sounds of it.
Others are as you say but not ETH.
It's not the same as BTC but it's also not Luna.

Dapps make it different, give it worth etc few other coins had Dapps.

LFaWolf · Sep 15, 2022

For the miners in this thread, any drop in profits?

DeathtoGnomes · Sep 15, 2022

Someone will find something profitable enough and start a new mining trend. It could be ......... Doge coin ! :roll:

LFaWolf · Sep 15, 2022

DeathtoGnomes said:
Someone will find something profitable enough and start a new mining trend. It could be ......... Doge coin !

I believe so, as mining has died and reincarnated multiple times. Isn't there something like Raven coins?

System Name	money pit..
Processor	Intel 9900K 4.8 at 1.152 core voltage minus 0.120 offset
Motherboard	Asus rog Strix Z370-F Gaming
Cooling	Dark Rock TF air cooler.. Stock vga air coolers with case side fans to help cooling..
Memory	32 gb corsair vengeance 3200
Video Card(s)	Palit Gaming Pro OC 2080TI
Storage	150 nvme boot drive partition.. 1T Sandisk sata.. 1T Transend sata.. 1T 970 evo nvme m 2..
Display(s)	27" Asus PG279Q ROG Swift 165Hrz Nvidia G-Sync, IPS.. 2560x1440..
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Power Supply	EVGA 850 watt..
Mouse	Logitech G700s
Keyboard	Logitech K270
Software	Win 10 pro..
Benchmark Scores	Firestike 29500.. timepsy 14000..

System Name	Ghetto Rigs z490\|x99\|Acer 17 Nitro 7840hs/ 5600c40-2x16/ 4060/ 1tb acer stock m.2/ 4tb sn850x
Processor	10900k w/Optimus Foundation \| 5930k w/Black Noctua D15
Motherboard	z490 Maximus XII Apex \| x99 Sabertooth
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Keyboard	G710+x3
Software	Win-7 pro x3 and win-10 & 11pro x3
Benchmark Scores	Are in the benchmark section

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Motherboard	ASUS TUF gaming B650
Cooling	Artic Liquid Freezer 2 - 420mm
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Video Card(s)	GreenTeam 4070 ti super 16gb
Storage	Samsung EVO 500gb & 1Tb, 2tb HDD, 500gb WD Black
Display(s)	1x Nixeus NX_EDG27, 2x Dell S2440L (16:9)
Case	Phanteks Enthoo Primo w/8 140mm SP Fans
Audio Device(s)	onboard (realtek?) - SPKRS:Logitech Z623 200w 2.1
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Mouse	Steeseries Esports Wireless
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Benchmark Scores	https://i.imgur.com/aoz3vWY.jpg?2

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Motherboard	Gigabyte Z690 Gaming X
Cooling	CPU: Noctua NH-D15S; Case: 2xNoctua NF-A14, 1xNF-S12A.
Memory	Ballistix Sport LT DDR4 @3600CL16 2*16GB
Video Card(s)	Palit RTX 4080
Storage	Samsung 970 Pro 512GB + Crucial MX500 500gb + WD Red 6TB
Display(s)	Dell S2721qs
Case	Phanteks P300A Mesh
Audio Device(s)	Behringer UMC204HD
Power Supply	Fractal Design Ion+ 560W
Mouse	Glorious Model D-

Processor	Intel 12600K
Motherboard	Gigabyte Z690 Gaming X
Cooling	CPU: Noctua NH-D15S; Case: 2xNoctua NF-A14, 1xNF-S12A.
Memory	Ballistix Sport LT DDR4 @3600CL16 2*16GB
Video Card(s)	Palit RTX 4080
Storage	Samsung 970 Pro 512GB + Crucial MX500 500gb + WD Red 6TB
Display(s)	Dell S2721qs
Case	Phanteks P300A Mesh
Audio Device(s)	Behringer UMC204HD
Power Supply	Fractal Design Ion+ 560W
Mouse	Glorious Model D-

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Motherboard	B550 Elite
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Storage	Samsung 970 Evo 1TB, WD SN850x 1TB, plus some random HDDs
Display(s)	LG 27gp850 1440p 165Hz 27''
Case	Lian Li Lancool II performance
Power Supply	MSI 750w
Mouse	G502

System Name	Main System
Processor	i9-10940x
Motherboard	MSI X299 Xpower Gaming AC
Cooling	Noctua NH-D15S + Second Fan
Memory	G.Skill 64GB @3200MHz XMP
Video Card(s)	ASUS Strix RTX 3090 24GB
Storage	2TB Samsung 970 EVO Plus; 2TB Corsair Force MP600; 2TB Samsung PM981a
Display(s)	Dell U4320Q; LG 43MU79-B
Case	Corsair A540
Audio Device(s)	Creative Lab SoundBlaster ZX-R
Power Supply	EVGA G2 1300
Mouse	Logitech MK550
Keyboard	Corsair K95 Platinum XT Brown Switches
Software	Windows 10 Pro
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System Name	RyzenGtEvo/ Asus strix scar II
Processor	Amd R5 5900X/ Intel 8750H
Motherboard	Crosshair hero8 impact/Asus
Cooling	360EK extreme rad+ 360$EK slim all push, cpu ek suprim Gpu full cover all EK
Memory	Corsair Vengeance Rgb pro 3600cas14 16Gb in four sticks./16Gb/16GB
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Storage	Silicon power 2TB nvme/8Tb external/1Tb samsung Evo nvme 2Tb sata ssd/1Tb nvme
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Case	Lianli 011 dynamic/strix scar2
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Mouse	Roccat Kova/ Logitech G wireless
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Software	Win 10 Pro
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