Cryptocoin Value and Market Trend Discussion

[sepheronx]

This is pathetic for a tech forum honestly. I've been here a long time. Only in recent years have I become a constant poster but now I remember why I left years ago. And even then, there were far better posters than now. All I see are posts that insult others for choices they make, talk down or just outright insult people for not sharing same opinions, demonizing people who invest in certain tech, etc. An older mod that asked about crypto was attacked and he said he was going to clean up the place, but said mod vanished.

Good luck to those who still have decency. To the rest of you, try to act better and see things in others perspective and not just your own.

 

[nguyen]

It's not the royal mail it's a public forum.

You past out a snarky remark unsolicited?!.

"

If I had the power of foresight, I would be buying lottery instead of bitcoin "

Remember

I replied as is the way on a Public forum.

Why your trying to dramatize the interaction is clearly because your original point had a nothing to do with the thread, because as ever you were trolling.

You do you.

Do you get to decide who is trolling and who is not?

I made a snarky remark at someone who regret a past decision (which in itself is funny) and he was fine with it, you made a full on unsolicited personal attack against me pal.

 

[TheoneandonlyMrK]

Do you get to decide who is trolling and who is not?

I made a snarky remark at someone who regret a past decision (which in itself is funny) and he was fine with it, you made a full on unsolicited personal attack against me pal.

Your dramma is boring, bye.

Pal.

 

[80-watt Hamster]

"Galstaff casts a friendship spell on both of you!"

@nguyen, @TheoneandonlyMrK

 

[R-T-B]

If I had the power of foresight, I would be buying lottery instead of bitcoin

Thing is, I had educated foresight. I knew it was going to take off, didn't see any other way. But I bought a nice i7 980x with my money at the time instead.

Somewhere in my house too was a 1btc paper wallet... but I think it may have been recycled. Looked for that thing forever. It's printed on waterproof paper, so holding out hope.

 

[Ahhzz]

Alright Children. Find yourselves not attacking each other, or find yourselves taking a vacation. Enough.

 

[phill]

crystal ball thinking.. just imagine.. go back five years bitcoin was at 1K.. imagine spending 10k and buying 10 bitcoin..

waiting a while until it peaks at 20K.. sell at 20K your original 10K investment is now at 200K..

wait another while and buy back in when bitcoin falls to 4K.. you now have 50 bitcoin..

wait another while and sell at 60K.. you now have 3 million dollars..

waiting another while and buy back in at 30K.. you now have 100 bitcoin currently worth 4200,000 dollars..

not bad turning 10K into 4.2 million in just five years.. or is my math wrong.. he he..

okay you dont have to get these timings exactly right but nearly right would be close enough..

simply buying and hodling would still produce at current values around 400,000 dollars..

what happens now who the f-ck knows but long term things look good..

trog

Likewise mate, I'm just waiting with popcorn to see what sort of mess this all comes out in, we've been through it all before and I'm sure we'll be through it all again soon enough!!

I can't argue in the times I've been able to do the mining with a mate of mine, we have always come out winning but sometimes not quite nearly as much as we could have but sometimes and some people I guess are just never meant to get that wealthy... It's a shame, I'd really like an RS6 and another house right now!!

 

[lexluthermiester]

This is pathetic for a tech forum honestly.

Then you are welcome to unwatch the thread and not participate.

Likewise mate, I'm just waiting with popcorn to see what sort of mess this all comes out in, we've been through it all before and I'm sure we'll be through it all again soon enough!!

The trends have been strange in the last few months. Dips keep happening where gains should have taken place and vice-verse. It's been weird, but very interesting to watch.

 

[ShiBDiB]

Crypto is just another secondary market that big money investors play in now. That's why it's started so heavily mirroring the stock market (which is the opposite of what the crypto purists want you to believe). It's not FUD to say the markets as a whole suck right now, and it's not hard to figure out why.

This is just going to be a bear month while investors react to the FED rates and covid fear. Unless you think the global/US economy is about to fully collapse, you hodl your crypto and stocks right now and continue to DCA in with your typical investments.

The loud doom and gloom crypto people right now are the people who aren't making money on the pump and dump shit coins. Crypto has made a lot of really stupid people feel really smart because they "day trade crypto" now, but did so in an absurd bull market on coins that literally have nothing backing them besides memes.

 

[nguyen]

Thing is, I had educated foresight. I knew it was going to take off, didn't see any other way. But I bought a nice i7 980x with my money at the time instead.

Somewhere in my house too was a 1btc paper wallet... but I think it may have been recycled. Looked for that thing forever. It's printed on waterproof paper, so holding out hope.

Well I bought my first apartment in 2011 for 80K, sold it it 2017 for 150K, bought another apartment for 150K, now it's 250K . Sure the gain with BTC would be bigger but it feels like a huge gamble.

A close friend asked me to invest in mining rigs with him back in 2017 but of course I didn't have any money after buying the new apartment.

Now would bitcoin have taken off if the pandemic didn't happen? Even trillion dollars tech companies couldn't predict where crypto will go, I'm sure as heck cannot either.

 

[R-T-B]

Now would bitcoin have taken off if the pandemic didn't happen?

It took off well before the pandemic.

I can't predict where it'll go now either, but it was easy as heck to see it was going to shoot past $20.00 if you considered tech trends.

 

[KLiKzg]

I remember thinking about sinking $200.00 into BTC when it was about $20.00 per coin.

Serious regrets that I did not.

Well, on 20k older Maxwell & Pascal cards will not be anymore profitable.

Around ~10k, even Turing & Volta will not be profitable.

& then only Ampere is in the game...

 

[R-T-B]

Well, on 20k older Maxwell & Pascal cards will not be anymore profitable.

Around ~10k, even Turing & Volta will not be profitable.

& then only Ampere is in the game...

Not sure what you are honestly trying to say. Bitcoin price has nothing to do with profitability as a.) network diff will adjust and b.) no one mines bitcoin with gpus anymore.

the biggest threat to gpu mining is the upcoming eth diff bomb in anticipation for the PoS switch, not falling prices.

also what you quoted really has nothing to do with the falling bitcoin price.

 

[KLiKzg]

Not sure what you are honestly trying to say. Bitcoin price has nothing to do with profitability as a.) network diff will adjust and b.) no one mines bitcoin with gpus anymore.

the biggest threat to gpu mining is the upcoming eth diff bomb in anticipation for the PoS switch, not falling prices.

also what you quoted really has nothing to do with the falling bitcoin price.

Well, weather we want it or not...Bitcoin directs the price of many other crypto. When it lost 1/3 of portfolio & plummeted down to 36k€ - many other cryptos went with it.

So, you might ignore it...you might not like it...but Bitcoin directs the price.

 

[R-T-B]

So, you might ignore it...you might not like it...but Bitcoin directs the price.

Yeah, and so? People were making money when bitcoin was the only crypto and it was only worth $20. The price is irrelevant because difficulty adjusts adaptively to the amount mining. Price is not an indicator of mining profitability, more trading profitability.

 

[KLiKzg]

Yeah, and so? People were making money when bitcoin was the only crypto and it was only worth $20. The price is irrelevant because difficulty adjusts adaptively to the amount mining. Price is not an indicator of mining profitability, more trading profitability.

Well, for mining you need electricity - unless you are hacking in illegally. So to make crypto, no matter which algorithm or coins, you need to pay something back.

The more crypto is worth, there is more return on investment in electricity. If the crypto is worth pennies, nobody would have mine it. & only then, we get to market of supply & demand (trades).

Seems like you got your saw backwards.

 

[lexluthermiester]

Well, for mining you need electricity - unless you are hacking in illegally. So to make crypto, no matter which algorithm or coins, you need to pay something back.

The more crypto is worth, there is more return on investment in electricity. If the crypto is worth pennies, nobody would have mine it. & only then, we get to market of supply & demand (trades).

Seems like you got your saw backwards.

While you make a fair point, it seems clear you misunderstood RTB. I suspect there might be a language barrier problem at play here...

 

[KLiKzg]

While you make a fair point, it seems clear you misunderstood RTB. I suspect there might be a language barrier problem at play here...

Well, no. As I do not look crypto in a way of difficulty. Some would argue you should.

But I look it in gain & spent equals profit.
A) You gain some amount of crypto - which is worth some $. If the crypto plummets, even ETH will not be profitable for mining (even though I do calculate everything in BTC, as those are the driving wheels of the crypto industry)
B) You spent electricity to make it & you have investment to pay out in some amount of months.
When you subtract A - B, you get profit. Either you are above zero or below.

Just keepin' it plain & simple!

 

[R-T-B]

Well, for mining you need electricity - unless you are hacking in illegally. So to make crypto, no matter which algorithm or coins, you need to pay something back.

The more crypto is worth, there is more return on investment in electricity. If the crypto is worth pennies, nobody would have mine it. & only then, we get to market of supply & demand (trades).

Seems like you got your saw backwards.

I think you need to do more homework on this. I'm well aware of all the above. It changes nothing about adaptive difficulty and earnings.

But I look it in gain & spent equals profit

And this is where you are falling short. The coin gained per x electricity is not fixed, and is intentionally adaptive.

Case in point: I made my best earnings on crypto way before the "all time high." My earnings during the "ATH" were actually fairly poor.

 

[trog100]

bitcoin is trending up again.. near 44K with eth near 3.4K..

once a bottom forms in this case 40K people start buying again.. or so it seems..

trog

 

[cvaldes]

once a bottom forms in this case 40K people start buying again.. or so it seems..

LOL, you don't understand the fundamental concept of free market, do you?

There are always buyers as long as the volume isn't zero. If the volume is 1, that means there was one transaction (one buyer, one seller).

Prices fall when there are more sellers than buyers. Prices stagnate when there are an equal numbers of buyers and sellers (support and resistance). Prices go up when there are more buyers than sellers.

There's no one arbitrarily setting the price of cryptos. The prices are determined by the transactions between buyers and sellers.

If BTC bottoms out at $40,000.00 it's because no one wants to pay $39,999.99. It goes up to $40,000.01 when someone want to pay that. And it'll go up to $40,000.02 when someone else want to pay that. Et cetera ad nauseam.

It's no different than buying bushels of apples, barrels of oil, or Class B shares of Berkshire-Hathaway.

One can use the same tools such as technical analysis (trend, momentum, volatility, volume), charting, etc. as equities to look for signals for potential price direction changes. Anyone who actively trades crypto and uses technical analysis should not be surprised by price direction change in the past 24 hours. No one can accurately predict when a given tradeable commodity will hit rock bottom, but thoughtful use of these type of trading tools will give you an advantage.

 

[trog100]

LOL, you don't understand the fundamental concept of free market, do you?

There are always buyers as long as the volume isn't zero. If the volume is 1, that means there was one transaction (one buyer, one seller).

Prices fall when there are more sellers than buyers. Prices stagnate when there are an equal numbers of buyers and sellers (support and resistance). Prices go up when there are more buyers than sellers.

There's no one arbitrarily setting the price of cryptos. The prices are determined by the transactions between buyers and sellers.

If BTC bottoms out at $40,000.00 it's because no one wants to pay $39,999.99. It goes up to $40,000.01 when someone want to pay that. And it'll go up to $40,000.02 when someone else want to pay that. Et cetera ad nauseam.

It's no different than buying bushels of apples, barrels of oil, or Class B shares of Berkshire-Hathaway.

One can use the same tools such as technical analysis (trend, momentum, volatility, volume), charting, etc. as equities to look for signals for potential price direction changes. Anyone who actively trades crypto and uses technical analysis should not be surprised by price direction change in the past 24 hours. No one can accurately predict when a given tradeable commodity will hit rock bottom, but thoughtful use of these type of trading tools will give you an advantage.

with crypto its more about will it go up or will it go down than about what people are actually prepared to pay.. hence the need for a "bottom" to form or at least what potential buyers see as a bottom..

trog

 

[cvaldes]

with crypto its more about will it go up or will it go down than about what people are actually prepared.. hence the need for a "bottom" to form or at least what potential buyer see as a bottom..

What are you talking about? It's pretty much the same in all free markets whether it be rice, tulip bulbs, shares of GE, or cryptocurrencies.

A buyer looks at the seller's asking price and says, "Yes, I will pay that" or "No, I won't."

Look at the stupid PC GPU market. People are paying 3x-4x MSRPs from mid-2020 because they WANT to. I bought a Sapphire Pulse Radeon RX 550 2GB card for $65 in September 2020 (below the $79 launch price). Those cards are going for 3x USED now. That's because the number of buyers exceeds the number of sellers.

When should someone buy an RX 550? When it drops to $200? $175? $150? $100? $80? $79? $65? $60?

Trust me, I bought a pricey GPU (the one described in my system specs). Would I preferred to have paid less for it? Yes, absolutely. Did I pay less for it than most other buyers of the same device? Absolutely. (Thank you Newegg Shuffle.)

You make zero sense.

 

[Mescalamba]

Then you are welcome to unwatch the thread and not participate.


The trends have been strange in the last few months. Dips keep happening where gains should have taken place and vice-verse. It's been weird, but very interesting to watch.

Dunno, apart rare occassions, it follows what my TA says it will probably do. I have a good laugh, when ppl say BTC dropped due Kazakhstan, or China (any) country banning this or that, or FED. Cause it mostly just does what I would expect it to do. And since Im fairly positive I cannot foresee future, there is probably plenty of folks which mistake reflection in the pond for stars.

Basically only time BTC dropped due real world situation was COVID start, where it unfortunately (or fortunately for some) followed stock and pretty much all other markets in nose dive.

What are you talking about? It's pretty much the same in all free markets whether it be rice, tulip bulbs, shares of GE, or cryptocurrencies.

A buyer looks at the seller's asking price and says, "Yes, I will pay that" or "No, I won't."

Look at the stupid PC GPU market. People are paying 3x-4x MSRPs from mid-2020 because they WANT to. I bought a Sapphire Pulse Radeon RX 550 2GB card for $65 in September 2020 (below the $79 launch price). Those cards are going for 3x USED now. That's because the number of buyers exceeds the number of sellers.

When should someone buy an RX 550? When it drops to $200? $175? $150? $100? $80? $79? $65? $60?

Trust me, I bought a pricey GPU (the one described in my system specs). Would I preferred to have paid less for it? Yes, absolutely. Did I pay less for it than most other buyers of the same device? Absolutely. (Thank you Newegg Shuffle.)

You make zero sense.

Fairly sure he means "bottom" forming on a graph. You know that "sign" that it will most likely go up, not down.

 

[LFaWolf]

BTC and ETH are taking a nose dive at the moment. Anyone knows why? Any major movement or sell off?