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Kazinsal posted:His descent into "no 1gnoirents, you are the demons" has been some I hate to disappoint but even if the price dropped to $0 I've made many thousands since you started this thread lol. But I admit my recklessness, trading thousands to make $20 over 30 seconds over and over, buying and parting out computers to ebay on *financing*, is a funny bitcoin story. But I will argue that even having the most basic checks to the madness protected me fully, and would have likely protected most people. Right now I am on the hook for a stupid Alienware computer but as of last Saturday it can be fully paid off with buttcoin bux if I wanted to. The real question is do I return it. I have 20 days... I probably should. Somehow this is one of the harder decisions. It will hold value better that most computers however GTC is coming. But a paper launch - at best - in March gives me what, 2 months (?) historically, before what is likely going to be an equivalent mining card releaseto a 1080ti. If it holds at $4/day then its worth keeping but ... I dunno! !!!!!!!!!!!!!!!!!!
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Feb 6, 2018 15:57
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-grade fascinating.
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https://etherscan.io/chart/difficulty I see difficulty skyrocketing still
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Feb 6, 2018 16:11
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1gnoirents posted:I hate to disappoint but even if the price dropped to $0 I've made many thousands since you started this thread lol. But I admit my recklessness, trading thousands to make $20 over 30 seconds over and over, buying and parting out computers to ebay on *financing*, is a funny bitcoin story. But I will argue that even having the most basic checks to the madness protected me fully, and would have likely protected most people. Right now I am on the hook for a stupid Alienware computer but as of last Saturday it can be fully paid off with buttcoin bux if I wanted to. I don't know how well you managed your risk but keep in mind that the market could have crashed at any time. Given the magnitude of numbers you mention in this post it sounds like when you outlaid for financed gear or traded thousands to make <1% on that money you exposed yourself to risk that could have swallowed up your profit to date if those investments had gone south.
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Feb 6, 2018 16:28
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1gnoirents posted:I hate to disappoint but even if the price dropped to $0 I've made many thousands since you started this thread lol. But I admit my recklessness, trading thousands to make $20 over 30 seconds over and over, buying and parting out computers to ebay on *financing*, is a funny bitcoin story. But I will argue that even having the most basic checks to the madness protected me fully, and would have likely protected most people. Right now I am on the hook for a stupid Alienware computer but as of last Saturday it can be fully paid off with buttcoin bux if I wanted to. You rode the bubble and lucked out. Nothing more, nothing less.
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Feb 6, 2018 16:40
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All the risk was managed by mining $15-30 a day for 3 months straight honestly, and $5-$10 a day 4 more previous to that, luck only played a role in January. Everybody "won" last year unless you made some really terrible choices and/or got very unlucky. Im just annoyed I didnt put my own money in last year, considering I was able to turn $500 (my only cash investment) into $1400 in a terrible crashing market month by just watching the books and settling for $20 profits*. Last year I could have put that in at any time and jerked off for a month and sold for likely a huge gain, but I *really* didnt trust bitcoin last year. Also all those $40 0.01 BTC sell mid year last year are painful to think about, which amounted to $450 "lost" per week for a month or two if I had held until the end of the year. But again I trusted bitcoin so little there was no chance of me doing that. I guess in the end I'm just grateful that I've pulled out for now and am still mining $15 a day despite it all. For the moment... *and one large ~20% 1 hour boon last week 1gnoirents fucked around with this message at 17:33 on Feb 6, 2018 |
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Feb 6, 2018 17:28
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1gnoirents posted:Im just annoyed I didnt put my own money in last year, considering I was able to turn $500 into $1400 in a terrible crashing market month by just watching the books and settling for $20 profits. And this is where I get off the train.
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Feb 6, 2018 17:31
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He put in minimal actual money, cashed out regularly, and never trusted BTC to retain its value for more than a few days at a time. He is kinda sad he missed out on making even more profits, but was a sane man and played it safe, and now isn't stuck with a poo poo ton of hardware or coins he can't move. He did basically everything this entire thread has been urging people to do, and made a profit. Yet people are still upset with him because.... 
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Feb 6, 2018 17:45
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You can still make money buying the coins directly, your sacrifice will be remembered
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Feb 6, 2018 17:47
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My point in talking about risk management is that you put an outlay to get your equipment and if the market had turned on you before it did you'd be in the red. There is no predicting the market, you got lucky.
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Feb 6, 2018 17:48
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Dren posted:My point in talking about risk management is that you put an outlay to get your equipment and if the market had turned on you before it did you'd be in the red. There is no predicting the market, you got lucky. I agree the equipment was a risk this last month. So much so I'm waffling hard on my last purchase as I can get my money back fully for a while. Last year however I only spent $80 on a computer to house my old gaming 1080, and my 1080ti was a gaming card I'd have definitely purchased no matter what. A laptop was running a 1060 + i7 sporadically as well that was purchased because I'm on the road a lot, not bitcoin related. Also it probably helps that I have a long history of buying and reselling GPUs and poo poo, I've had... 25+ GPUs in the last 3 years, and I'm in the green on that as well even though that was not my intent. Typically I'd have sold that 1080, which at the time was roughly $400, so I consider that part of my "investment" into bitcoin last year. So roughly ~$500 in, however I could have sold that 1080 at any time for more than I bought it for so its not so cut and dry. The point is, I very intentionally was not invested financially last year because of my total lack of trust. In the very thread I was flipping out when the price hit $2000 in pure astonishment. I wish I was but for the reason you state, I was not. DrDork posted:He put in minimal actual money, cashed out regularly, and never trusted BTC to retain its value for more than a few days at a time. He is kinda sad he missed out on making even more profits, but was a sane man and played it safe, and now isn't stuck with a poo poo ton of hardware or coins he can't move. He did basically everything this entire thread has been urging people to do, and made a profit. Yet people are still upset with him because.... <3 but ill stop trying to defend myself as well, Ive worn out my welcome for sure I just realized the only reason I started mining was to help pay for my computer(s). If I really add everything up, I accomplished that goal exactly. I have technically paid off a new personal gaming build, the 1080ti, the original 1080, a 1070, and if I wanted another whole Alienware with 1080ti in it. Im going to call my mom and tell her I finally finished something I started 1gnoirents fucked around with this message at 18:06 on Feb 6, 2018 |
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Feb 6, 2018 18:00
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DrDork posted:He put in minimal actual money, cashed out regularly, and never trusted BTC to retain its value for more than a few days at a time. He is kinda sad he missed out on making even more profits, but was a sane man and played it safe, and now isn't stuck with a poo poo ton of hardware or coins he can't move. He did basically everything this entire thread has been urging people to do, and made a profit. Yet people are still upset with him because.... ...because cryptocurrency is dumb as gently caress
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Feb 6, 2018 18:09
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Feb 6, 2018 18:09
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Happy_Misanthrope posted:...because cryptocurrency is dumb as gently caress No one is disagreeing on that point. I don't think we have anyone in this thread pontificating about the inevitable conquest of the superior block-chain currency and that, though our faith be tested by the harrowing falls in value of late, we should just hodl and soldier on to the bright crypto-future that buttcoins portend. Just people making some money on the margins while laughing at idiots taking out mortgages to buy coins to play a market they clearly do not understand.
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Feb 6, 2018 18:12
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DrDork posted:No one is disagreeing on that point. I'll say it again. It's all luck. The market could have crashed last month, or yesterday, or 3 weeks from now, or bitcoin could have hit the moon.
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Feb 6, 2018 18:30
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And no one's disagreeing. Which is why everyone has been harping on how no one should be hodling anything, no one should be investing in hardware just to mine, no one should be buying coins with cash, but rather should be cashing out on a regular basis and be fully prepared to watch any coins they're sitting on rapidly shoot to $0. Which he did. Seriously, man, what more do you want? There's a sour-grapes smell here...
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Feb 6, 2018 18:44
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DrDork posted:Seriously, man, what more do you want? There's a sour-grapes smell here...
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Feb 6, 2018 19:02
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Cryptocurrency is perfectly fine for buying research chemicals on the internet.
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Feb 6, 2018 19:14
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Ok now, I am not promoting trading in bitcoin, I have explicitly stated I am fully out. All I did was explain how I made money off of dips using freely available information and fee-less transactions. I only explained it after doing it for a few weeks, after I was sure I wasn't loving up, and only because nobody explained it to me. And because I wanted to brag about it on the internet. You can do it now if you wanted, but even I'm out and I can't actually recommend doing that at the moment. If it stabilizes I likely will return and do the same thing I had been doing. If it doesn't, it was a fun ride. I tried to explain how I did it minimizing my risk the best way I knew how, which was trading profit for security essentially. This is nothing to do with the power usage associated with mining, or really nothing to do with mining at all. I am very happy with my mining returns, but the moral implications can be fuzzy, though all the most worst attacks on it seem to have been based on completely made up numbers. I know roughly how much power I personally used, because it was a financial concern, and compared to the money I got out of it I fail to see how I could have more efficiently turned that much energy into value personally. Now if you want to get on my case about destroying the planet I'll defer you to my cat-less 12 mpg STi days, which was much worse. Or my catless 29 psi SS days. Even currently I guess, I ride a motorcycle and drive an inefficient old pickup. I could be riding a bicycle to work. I'm not very concerned about my literal solar powered GPUs. 1gnoirents fucked around with this message at 19:24 on Feb 6, 2018 |
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Feb 6, 2018 19:19
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The venn diagram works for all cryptocurrencies
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Feb 6, 2018 19:21
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DrDork posted:And no one's disagreeing. Which is why everyone has been harping on how no one should be hodling anything, no one should be investing in hardware just to mine, no one should be buying coins with cash, but rather should be cashing out on a regular basis and be fully prepared to watch any coins they're sitting on rapidly shoot to $0. Good for him, like honestly, good for him. I funded basically 2 computer builds out of the whole crazy Crypto Market  1gnoirents posted:
I'm not trying to poo poo on your personally  . I'm just coming in like a big ole wet blanket so that people realize that what you did was pure luck and not some magic sauce investment strategy, or whatever. I really don't want to see someone here reading your enthusiastic posts and going hey this looks like a great idea then getting mega burned.
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Feb 6, 2018 19:30
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Stanley Pain posted:I really don't want to see someone here reading your enthusiastic posts and going hey this looks like a great idea then getting mega burned. Ok, I can get down with this. Especially consider the big poo poo-fest the crypto market has turned into in the last few days, no one should be venturing into it right now at all.
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Feb 6, 2018 19:35
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Fair enough. I disagree that it was pure luck, but I agree that bad luck would have burned me and anybody else. I've already explained it enough though, I will just try to enjoy my peanuts.
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Feb 6, 2018 19:36
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1gnoirents posted:This is nothing to do with the power usage associated with mining, or really nothing to do with mining at all. In the Cryptocurrency Mining Thread. Congrats on making some money, but perhaps things like this is why people are getting a little salty.
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Feb 6, 2018 19:39
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i dunno, i had an rx480 lying around and ran nicehash before all this blew up, then bought a whole bunch of monero at 11 dollars because why not, then i cashed out some mining profit for a 980ti to game with because at that point you could still find them used for like $300. then i just sat on everything, mining with two cards and sold everything but one monero when bitcoin was 12k and dropping. i'm up a few grand for basically no effort whatsoever, and i'll probably buy in again when btc finishes cratering. i guess the moral of this tale is that you don't have to daytrade to take money from people who like to dump money into things they don't understand.
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Feb 6, 2018 19:42
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I mean none of us are mining anymore. This should really be the Slightly More Effort Than Shitposting Cryptocurrency Bubble Thread.
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Feb 6, 2018 19:43
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1gnoirents posted:Fair enough. I disagree that it was pure luck, but I agree that bad luck would have burned me and anybody else. I've already explained it enough though, I will just try to enjoy my peanuts. Enjoy your gains the best way possible. By spending them 
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Feb 6, 2018 19:50
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DrDork posted:And no one's disagreeing. Which is why everyone has been harping on how no one should be hodling anything, no one should be investing in hardware just to mine, no one should be buying coins with cash, but rather should be cashing out on a regular basis and be fully prepared to watch any coins they're sitting on rapidly shoot to $0. it's not sour grapes. it's a guy boasting on the internet about how much money he made and insisting he's very smart. which is just the most worthless poo poo ever. also if you made thousands of dollars kick a little back to the 'taxman and buy yourself an avatar. bragging about money when you're wearing a newbie trump av, very Sad!
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Feb 6, 2018 20:00
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Nicehash coinbase withdraws is back to .002 so that's nice. Time to get another $15 amazon giftcard.
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Feb 6, 2018 20:23
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Klyith posted:it's not sour grapes. it's a guy boasting on the internet about how much money he made and insisting he's very smart. which is just the most worthless poo poo ever. I am very smart. I have an IQ of 100 (triple digits). While I have made thousands on my intelligence, I have reinvested it into mangosteens ensuring tens of thousands more, not to mention my health, and direct advice from the taxman himself thus paying my due. I encourage everybody to do the same.
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Feb 6, 2018 20:45
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Feb 6, 2018 20:49
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DrDork posted:And no one's disagreeing. 1gnoirents is disagreeing and insists that it wasn't pure luck, but rather a little bit of luck combined with smartly timing the bubble or something. Although in actuality it was definitely pure luck
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Feb 6, 2018 21:37
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I made a few thousand bucks flipping Diablo 3 gold when it came out, because I was lucky. Not skilled.
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Feb 6, 2018 22:05
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Feb 6, 2018 22:37
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TO THE MOON
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Feb 6, 2018 22:43
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banning durians makes sense because those things smell like a month old diaper pail but I don't get why you'd ban mangosteens unless you just don't like lowtax and you're super passive agressive about it
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Feb 6, 2018 22:57
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#bitcoincouple posted:
Emphasis mine
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Feb 6, 2018 22:57
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My cousin
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Dr. Fishopolis posted:banning durians makes sense because those things smell like a month old diaper pail but I don't get why you'd ban mangosteens unless you just don't like lowtax and you're super passive agressive about it They stain stuff like a mofo
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Feb 6, 2018 23:04
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Kazinsal posted:I mean none of us are mining anymore. This should really be the Slightly More Effort Than Shitposting Cryptocurrency Bubble Thread. I am! But just until I cross the threshold for one last nicehash payout (tomorrow morning) and then I'm switching back to Folding@Home for my supplemental heat.
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Feb 7, 2018 00:18
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Kazinsal posted:I mean none of us are mining anymore. This should really be the Slightly More Effort Than Shitposting Cryptocurrency Bubble Thread. 
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Feb 7, 2018 00:23
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Sibling of TB posted:Nicehash coinbase withdraws is back to .002 so that's nice. Time to get another $15 amazon giftcard. People talk about Coinbase gift cards but I don't see them in my account, am I missing something?
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Feb 7, 2018 01:41
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