How far will bitcoin and other cryptos fall?
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@tim_g said in How far will bitcoin and other cryptos fall?:
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
To me, the Bitcoin is like a bizarre and risky stock that I would most likely avoid long-term investment due to its volatility,
That's how I feel about real estate.
As everyone should!
I've lost more on real estate than almost anyone has lost of bitcoin, lol.
goes off to cry in the corner
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@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
To me, the Bitcoin is like a bizarre and risky stock that I would most likely avoid long-term investment due to its volatility,
That's how I feel about real estate.
As everyone should!
I've lost more on real estate than almost anyone has lost of bitcoin, lol.
goes off to cry in the corner
Real Estate is great if you can buy low, and rent it out until it's paid off. Get someone else to pay for it, then it's mostly profit.
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@tim_g said in How far will bitcoin and other cryptos fall?:
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
To me, the Bitcoin is like a bizarre and risky stock that I would most likely avoid long-term investment due to its volatility,
That's how I feel about real estate.
As everyone should!
I've lost more on real estate than almost anyone has lost of bitcoin, lol.
goes off to cry in the corner
Real Estate is great if you can buy low, and rent it out until it's paid off. Get someone else to pay for it, then it's mostly profit.
Yeah, unfortunately being able to buy low isn't something you can do unless you have loads of money already and flexible time frames.
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@dafyre said in How far will bitcoin and other cryptos fall?:
I got in on Electroneum (ETN) just before the ICO launched... My $10 is now worth $120, so I saw a nice rise on that one.
How many ICOs have you invested in?
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@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
I got in on Electroneum (ETN) just before the ICO launched... My $10 is now worth $120, so I saw a nice rise on that one.
How many ICOs have you invested in?
Just that one, ha ha. I had the $10 when I stumbled across it. They had a $10 buy in for 1,000 ETN... So I got in for $0.01 /coin... It's now up to $0.13 / ETN.
Edit: I set up a couple of CPU miners and am earning 10 ETN every day or two (Roughly $1.30). I won't get rich, but it will fund my Steam / GOG habit, lol.
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@dafyre said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
I got in on Electroneum (ETN) just before the ICO launched... My $10 is now worth $120, so I saw a nice rise on that one.
How many ICOs have you invested in?
Just that one, ha ha. I had the $10 when I stumbled across it. They had a $10 buy in for 1,000 ETN... So I got in for $0.01 /coin... It's now up to $0.13 / ETN.
Edit: I set up a couple of CPU miners and am earning 10 ETN every day or two (Roughly $1.30). I won't get rich, but it will fund my Steam / GOG habit, lol.
Can you ping me privately about that? I am actually looking to do a very low cost, low yield mining. I would be happy with $10 a month. I just want it for gas fees.
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@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
I got in on Electroneum (ETN) just before the ICO launched... My $10 is now worth $120, so I saw a nice rise on that one.
How many ICOs have you invested in?
Just that one, ha ha. I had the $10 when I stumbled across it. They had a $10 buy in for 1,000 ETN... So I got in for $0.01 /coin... It's now up to $0.13 / ETN.
Edit: I set up a couple of CPU miners and am earning 10 ETN every day or two (Roughly $1.30). I won't get rich, but it will fund my Steam / GOG habit, lol.
Can you ping me privately about that? I am actually looking to do a very low cost, low yield mining. I would be happy with $10 a month. I just want it for gas fees.
Low cost mining will NEVER give you more than it costs to mine. Stuff just isn't that efficient yet.
Example, you can buy like a $60 USB mining stick... but between the cost of the stick, the cost of hte power consumption of the stick/Pi/whatever, it's never going to work out positively... if it does, you're looking at cents, not dollars.
You need to buy those big mining racks for many thousands of dollars. It's basically a bunch of videocards and power supplies.
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@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
I got in on Electroneum (ETN) just before the ICO launched... My $10 is now worth $120, so I saw a nice rise on that one.
How many ICOs have you invested in?
Just that one, ha ha. I had the $10 when I stumbled across it. They had a $10 buy in for 1,000 ETN... So I got in for $0.01 /coin... It's now up to $0.13 / ETN.
Edit: I set up a couple of CPU miners and am earning 10 ETN every day or two (Roughly $1.30). I won't get rich, but it will fund my Steam / GOG habit, lol.
Can you ping me privately about that? I am actually looking to do a very low cost, low yield mining. I would be happy with $10 a month. I just want it for gas fees.
Low cost mining will NEVER give you more than it costs to mine. Stuff just isn't that efficient yet.
Example, you can buy like a $60 USB mining stick... but between the cost of the stick, the cost of hte power consumption of the stick/Pi/whatever, it's never going to work out positively... if it does, you're looking at cents, not dollars.
If you live in areas that don't need cooling, and have lower power needs, you might be good.
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@reid-cooper said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@dafyre said in How far will bitcoin and other cryptos fall?:
I got in on Electroneum (ETN) just before the ICO launched... My $10 is now worth $120, so I saw a nice rise on that one.
How many ICOs have you invested in?
Just that one, ha ha. I had the $10 when I stumbled across it. They had a $10 buy in for 1,000 ETN... So I got in for $0.01 /coin... It's now up to $0.13 / ETN.
Edit: I set up a couple of CPU miners and am earning 10 ETN every day or two (Roughly $1.30). I won't get rich, but it will fund my Steam / GOG habit, lol.
Can you ping me privately about that? I am actually looking to do a very low cost, low yield mining. I would be happy with $10 a month. I just want it for gas fees.
Low cost mining will NEVER give you more than it costs to mine. Stuff just isn't that efficient yet.
Example, you can buy like a $60 USB mining stick... but between the cost of the stick, the cost of hte power consumption of the stick/Pi/whatever, it's never going to work out positively... if it does, you're looking at cents, not dollars.
If you live in areas that don't need cooling, and have lower power needs, you might be good.
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You'll pretty much NEVER make up what you've spent, unless you did this 15 years ago... at least not anymore.
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That's just for hte USB device itself.... that doesn't include the power consumption of the device used to power the USB stick such as a laptop or PI or whatever.
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@tim_g said in How far will bitcoin and other cryptos fall?:
You'll pretty much NEVER make up what you've spent, unless you did this 15 years ago... at least not anymore.
That's what I'm finding out.
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At least for Bitcoin. Mining different things has different results. Each algorithm is unique.
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I just do all of my mining with the equipment at work...
/sarcasm
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Few thoughts on the subject:
I think cyrpto currencies and blockchain tech is super interesting, and has many exciting use cases. However, forget the history of the tulip mania and the south sea bubble, I hesitate from the idea of investing in currency exchange speculation or storing value with cryto currencies, because for me, the economic risk-weighted-return may not be worth it. Crypto currencies have a benefit, such as, a tech in a decentralized transactional system, but as a vehicle to store value, not so sure.
It could be problematic treating tech as an investing commodity like this, because the commodity itself is based on abstractions of current knowledge. The problem with storing long-term value in abstractions of current knowledge, is what do you do when new knowledge in or new solutions are found?
For example, in computational complexity theory, if the problem of “P vs NP” were solved, there would be huge issues for encryption as we know it. Transactional systems could just change to other methods to secure the transactions, however, static monetary value, validated with encryption, may have much more serious issues once the math used no longer can be relied upon.
Just a thought...
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I believe that everything that happens is in the order of things. Cryptocurrency will flourish and strengthen. Just in case if you have a cryptocurrency and you want to withdraw it, you can use a [redacted] to make a secure transfer where you need it!
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0 is the answer, eventually. Could be 1 year from now, 5 years from now, 20 years from now, etc.
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@Harry-Lui said in How far will bitcoin and other cryptos fall?:
0 is the answer, eventually. Could be 1 year from now, 5 years from now, 20 years from now, etc.
That's a true statement. With the exception of precious metals, every currency will eventually be 0.
As I've spent more time in crypto, I've realized that crypto and fiat are both ponzi schemes. Both are subject to extreme manipulation. Investment wise they could be profitable, but at the end of day it's dependent on governments and central banks to say tis particular paper or this particular crypto is valuable.
I still like to trade with crypto and do it almost on a daily basis. I do shorts because I cannot see long term value anymore and I only play with what I can afford to lose.
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The thing that I do really enjoy about crypto is I am able to control my funds and make my own decisions whether I have $50, 500, 5k, or 50k. The stock market is rigged in favor of big guys.
I spent alot of time in crypto trading $10-50 and learned alot! I was able to be extremely profitable in a year where most people lost their shirt. I ended up with about 500% total in gains this year! Not that I had alot of money in crypto at any one point. Maybe around $1500 at most, and under $500 most of the time.
I was fortunate enough to take a fiat out with each gain so I am all smiles while there is alot of gnashing of teeth.
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@IRJ said in How far will bitcoin and other cryptos fall?:
@Harry-Lui said in How far will bitcoin and other cryptos fall?:
0 is the answer, eventually. Could be 1 year from now, 5 years from now, 20 years from now, etc.
That's a true statement. With the exception of precious metals, every currency will eventually be 0.
Precious metals are the same. Only precious because we randomly say so. It's so arbitrary to associate some metals as having crazy value. Almost identical to paper money. It's worth a lot, only because someone says so.
