Bitcoin price suddenly surges to 3-year high

[64K]

The joys of owning your own home, regardless of where it might be... You save a chunk of cash each month and you can live smiling that every year more or less, you house price has risen...

I don't know of anything more profitable than Eth mining at the moment, obviously depending on the size of what you have but if you could cover your electric with a single 0.1 payout of coin and then maybe make a coin (1.0) on top of that, you are in effect earning 1000%.. I don't believe there's anything you can currently buy/invest in etc. that is anywhere near close. Savings account, shares and such, I don't believe come close to 10% returns on most of it, obviously there's exceptions but still.... What's spending some electric on your PC (can even run WCG or Rosetta whilst you've got it on! hint ) and make some money from it?

There's nothing wrong with mining crypto for profit but be smart about it. It's what investors call "paper profits" or "unrealized gains". You haven't actually made any profit or "realized gains" until you sell or trade the crypto for goods and services. Until then you can show thousands and perhaps millions of dollars of profit on paper but until you sell or trade for goods and services you haven't actually made a cent of profit.

 

[phill]

There's nothing wrong with mining crypto for profit but be smart about it. It's what investors call "paper profits" or "unrealized gains". You haven't actually made any profit or "realized gains" until you sell or trade the crypto for goods and services. Until then you can show thousands and perhaps millions of dollars of profit on paper but until you sell or trade for goods and services you haven't actually made a cent of profit.

Completely agree, which is why we are being smart about it... Well, hopefully

 

[MentalAcetylide]

The joys of owning your own home, regardless of where it might be... You save a chunk of cash each month and you can live smiling that every year more or less, you house price has risen...

I don't know of anything more profitable than Eth mining at the moment, obviously depending on the size of what you have but if you could cover your electric with a single 0.1 payout of coin and then maybe make a coin (1.0) on top of that, you are in effect earning 1000%.. I don't believe there's anything you can currently buy/invest in etc. that is anywhere near close. Savings account, shares and such, I don't believe come close to 10% returns on most of it, obviously there's exceptions but still.... What's spending some electric on your PC (can even run WCG or Rosetta whilst you've got it on! hint ) and make some money from it?

That is a good idea. Unfortunately, on the flip side of the coin too many at this point are taking it to the extremes and don't realize that the opportunity to "go all in and profit" has already left the port and sailed away. They see it as an easy way to get rich and don't understand the potential risks/costs.

 

[trog100]

my latest nicehash estimated daily earning are $180 dollars.. the 5 pm four hourly payout was just over $20 dollars..

did anybody mention the price of graphics cards coming down.. he he

trog

 

[sepheronx]

my latest nicehash estimated daily earning are $180 dollars.. the 5 pm four hourly payout was just over $20 dollars..

did anybody mention the price of graphics cards coming down.. he he

trog

Yeah, I am at about $45 a day now. From $25. So yeah, its nice!

 

[trog100]

Yeah, I am at about $45 a day now. From $25. So yeah, its nice!

yes.. as the price of eth goes up the mining rewards seem to go up with it.. but so does the cost of the hardware to do it..

how high eth will go is yet to be seen.. something has to limit the world and his dog from becoming crypto miners the cost and lack of hardware seems to be the limiter..

i aint so sure i would buy into its at the current costs..

trog

 

[sepheronx]

yes.. as the price of eth goes up the mining rewards seem to go up with it.. but so does the cost of the hardware to do it..

how high eth will go is yet to be seen.. something has to limit the world and his dog from becoming crypto miners the cost and lack of hardware seems to be the limiter..

i aint so sure i would buy into its at the current costs..

trog

I got two full PC's on order and waiting to see which one comes first:

Alienware R10 with a RTX 3080

or

MSI Tident X (Open box) with a RTX 3080.

In either case, I will be throwing a GTX 980ti into one or the other and play games with will my rtx 3080 is mining. The other machine that comes last will be canceled or returned for my money back.

 

[trog100]

i have problems running anything 3D after running the nicehash miner.. nothing 3D works unless i do a clean re-install of the nvidia drivers.. i think the nicehash software does something to the nvidia drivers.. a clean re-install wipes whatever it does.. i have two desktop machines both behave in exactly the same way.. so it isnt a fluke..

trog

 

[sepheronx]

i have problems running anything 3D after running the nicehash miner.. nothing 3D works unless i do a clean re-install of the nvidia drivers.. i think the nicehash software does something to the nvidia drivers.. a clean re-install wipes whatever it does.. i have two desktop machines both behave in exactly the same way.. so it isnt a fluke..

trog

thats why I got them on different systems. The machine I am typing on is my custom build with a 6800xt. No issues in 3D after setting to default, but that is because I am not using quickminer on this machine (cant).

Once I get the other machine and pull the GPU out of it and replace it with another, the mining machine is for permanent mining use.

 

[Space Lynx]

ETH at 3900... if I had started mining with my 6800 nov 25th when I got it, and hodl'd all my ETH....

will 6 months from now I be saying the same thing? If I had started today and hodl'd.... ugh... crap... I hate all of this so much. it's driving me insane.

 

[sepheronx]

ETH at 3900... if I had started mining with my 6800 nov 25th when I got it, and hodl'd all my ETH....

will 6 months from now I be saying the same thing? If I had started today and hodl'd.... ugh... crap... I hate all of this so much. it's driving me insane.

it isn't too late. Just load up nicehash, run it when you dont want to use your PC. Just make sure you modify it in wattman.

 

[trog100]

lynx.. the amount you could have made from a single 6800 would not be exactly life changing so best forget about it..

trog

 

[Space Lynx]

lynx.. the amount you could have made from a single 6800 would not be exactly life changing so best forget about it..

trog

true, I just did the math... it would have been around 1 grand even for 6 months of mining after taxes, fees, electricity. eh. I think I will pass for now AMD just isn't worth mining on. that being said I'm hoping to sell my 6800 if I somehow get super lucky again on 3080 ti launch day. doubt I do, but I never expected to get a 5600x and 6800 on their launch days either... lol

 

[scoutingwraith]

I am semi happy I cashed out the 1st surge way back a few years back. Helped finance house as well for this

 

[R-T-B]

There is an excuse for every regressive tax out there

Those weren't really baseless excuses.

Plus the part about it being levied by the grocery store sort of sinks your entire arguement, because that means it's not a "tax."

off-topic: hard drive prices have skyrocketed... looks like Chia is taking off after all... sigh. when will this nightmare end...

I would not expect it to last if it has. But I guess anything is possible in this crazy fomo environment.

 

[trog100]

well eth is now at 4000 with bitcoin not quite able to break that 60K barrier.. maybe tomorrow it will it has to soon.. he he

my last four hourly nicehash payout was a ridiculous $26.50..

trog

 

[Space Lynx]

i still don't understand the value of Ethereum personally, says it can be used for contracts etc... but I don't see any big players actually using it for contracts...

 

[RandallFlagg]

Just for the record, I don't think bitcoin is

Those weren't really baseless excuses.

Ya, they are.

Plus the part about it being levied by the grocery store sort of sinks your entire arguement, because that means it's not a "tax."

You pay sales tax on that bag don't you? And the business has no choice but to sell the bag, they can't give it to the customer as a value add like they've been doing.

And poor people don't really use less bags than high income / wealthy people. Probably more. Just walk into a local quick stop and see who is buying soda, chips and a hot dog. They're not driving Audis.

Paper bag fees | Washington Department of Revenue

dor.wa.gov

 

[R-T-B]

You pay sales tax on that bag don't you?

No. Pretty sure if there's a sales tax they don't mention it anyways.

And the business has no choice but to sell the bag, they can't give it to the

They can, they don't. We actually had to force them to stop charging for those using foodstamps with additional legislation.

You can also bring your own reusable bag anytime.

They're not driving Audis.

No it's the pacific northwest dawg, we all drive old subarus.

i still don't understand the value of Ethereum personally, says it can be used for contracts etc... but I don't see any big players actually using it for contracts...

Pretty much all of the stablecoins (what banks are interested in) are ethereum smart contracts.

 

[phill]

well eth is now at 4000 with bitcoin not quite able to break that 60K barrier.. maybe tomorrow it will it has to soon.. he he

my last four hourly nicehash payout was a ridiculous $26.50..

trog

It's getting to the point now I'm wondering if it will ever burst the bubble but either ways, I'm far from unhappy being in it There's always the what if type questions/answers, but unless you do something about it, it's pointless even worrying about it

With your payouts @trog100 does Nicehash take much of that in a fee at all?

 

[moproblems99]

Yeah, I am at about $45 a day now. From $25. So yeah, its nice!

What's your hash rate?

 

[RandallFlagg]

No. Pretty sure if there's a sales tax they don't mention it anyways.

I actually linked to your states tax revenue site. You are clearly ignorant on the subject and are talking our your rear. There's not even much information there, just the note about taxes..

From the link I provided, emphasis added :

Is the paper bag fee subject to retail sales tax?​

Yes. The charge to customers for paper bags is a retail sale, subject to retail sales tax and the retailing B&O tax.

 

[hat]

I find it very strange that Ethereum is growing at such a rate but bitcoin is staying put...

 

[Zach_01]

ETH is going through some changes. I believe we will see a lot more in the future (2022~23) when all switch to ETH2.0.

 

[sepheronx]

What's your hash rate?

300 or so.