Bitcoin Forum

In a bear market should one be buying graphic cards or one should be buying coins instead?.

buy coins but we are not in the bear market yet, bear market is at least 75% btc crash from top, so btc top = 70k, 75% crash btc = 70k - 52.5k = 17.5k, so btc will crash a lot yet, this is still a pre bear market because it crashed below 28k, in all bull market and pre bull market, btc never crashed below 28k, pre bear market would be hit when btc crashed below 28k and it happened few weeks ago, btc crashed to 25k. So either sideways a bulltrap or going to hehell at moment, any rise is a bulltrap, the ideal price to buy btc is 15k or below, btc is still over priced, miners are selling, sheeps are buying. The only time to buy btc is when is below what miners are paying to mine one btc because in the bear market fiat is king. So is normal for miners to sell their coins at loss to get fiat to pay their bills, bull market is normal for miners to sell coins for a lot more than they cost to mine them.

I would buy cheap cards,let me make you an example,just some months ago when we were still in bull market,mainly October 2021 where we had the last ATH of Bitcoin a friend of mine bought a Rx 590 card for 400 EUR which I was strongly against for the hash rate and power consumption this card gives.Now this card costs 100 EUR or even cheap used from mining rigs that people here want to sell,this would be a good buy if you have cheap electricity cost to run your mining rigs.Also now the Rx 470/570/480/580 cost really cheap here the 4 GB versions and you can use them to mine ETC if you as I said have cheap electricity costs.

The only time I would suggest buying coins is if you do not want to have the burden of running and managing your rigs,you just want to buy coins with the money you have allocated for the mining rig and keep them in your wallet waiting for the next bull run,that is the only time I can agree to buy coins.

My answer to your question is... it depends!

We are currently in a worrying and unpredictable scenario.
Well, there are several variables that need to be analyzed, because with the war between Russia vs Ukraine, cases of COVID increasing and inflation all over the world, this can interfere with the values ​​of cryptocurrencies and video cards.

If in fact Ethereum migrates to PoS, there could be a massive sale of video cards, because a significant portion of miners, mine ETH today.

If the miner already has some video cards, the kWh value is cheap or the person already has a photovoltaic panel, I believe it could even be worth it.

But (in my opinion), if some of these variables that I mentioned in the above paragraph are not reached, I believe, buying cryptocurrencies is a more sensible option... Not to mention that cryptocurrencies have greater liquidity than video card. In an emergency, if you need money quickly... I have no doubt that selling your cryptocurrencies will be much faster and more practical than selling your video cards.

Make fractional crypto purchases... but be very careful, because unfortunately there are great chances that we are currently in a FUD

Wait for the death cross, I don't know if you've ever heard about this, I am expecting this death cross to happen by August, BTC will dip to a new all time low since 2020 and that's the time you should start buying coins, most GPU's aren't back at MSRP yet so the best answer right now is doing nothing, don't do anything.

These variables are worse than the beginning of Covid when BTC dumped and them started the road to ATH, all these events together create a bad enviroment for all of us, but I think if the war ends, at least some money will start to move again and the world will start again to have some optmism, and then end of covid and pandemic situation will slowly get us to a btter place again

But to answer the question of OP, I survived the bear market of 2018

I was a miner in 2017 to 2018 and I saw the crash, I didn't had a decent plan and at the crash I had a lot of coins, a bag holder  :D
After the crash I started to think better, and never sell any coin mined, I sold my cards due to my electricity costs, I had BTC and ETH, I put on cold wallets and waited.
In 2020 I saw some opportunity to mine again, I bought some cards and started
At ATH I was able to sell some coins, not all, but now I have cash to survive for some time

I know some things are easy to say or repeated a lot of time here, but it's true and can help in a bear market

1 - If you have BTC, don't sell anything in a bear market, unless you need to buy food to survive
2 - Stay only with coins you believe it's prepared to survive for a long time, for example ETH last time, like BNB now
3 - If your electricity is cheap, you can continue to mine, but let's say you have 10 cards, you can sell 5 and stay with 5, you will be prepared for both scenarios
4 - If you have spare money, or the cash of your sold cards, you can start to DCA, buy some BTC every week

Eventually prices will rise again, and you'll have coins to sell and profit, but if you sell in a bear market it will be hard to profit in a bull market, you will not have coins.

Now is a bad time to buy video cards because they are still expensive. It is probably better to wait for the news about the end of ethereum mining and buy a mining farm at a good price. But this is provided that 1 kilowatt costs no more than 6 cents.

Many exchanges have been laying off people because they know this is going to get worse and worse, the truth is exchanges know more than even any crypto TA because they know if there are more buys or sells, there is a reason they are laying people off. Anyway, I hope you trolls sold some coins to get through the bear market if not then dont miss the opportunity on the last bulltrap that is coming in few weeks or months, is not going to be easy, during previous bear markets were never easy anyway.

Given the market trend at the moment it does not seem appropriate to buy new gpus it is better to wait for their price to drop, instead it is better to stock up on altcoins both by buying them cheap and by mining them

That's right. I think the only profitable move these days is to short Coinbase, Riot Blockchain or Marathon on the stock market. I was actually applying to jobs at these kinds of companies a month ago, but thank god I pulled the plug on them.

History has it that BTC has never crashed below the previous all-time high after a new cycle. Let's wait and see what happens this time round, but as far as I know, we are already in a bear market. Most people realize it when it's too later.

I sold 90% of my coins back in May last year when BTC was ~$45k. I don't think that was a bad price, considering I bought the coins when BTC was ~$5k. It's impossible to time the market perfectly. I thought things would keep going down from there, which is why I didn't build any mining rigs then. But I didn't foresee the second bull run later that year, which is fine, because I profited enough.

So this market was actually similar to 2018, where there was a bull trap in May-June. I fell for that bull trap and signed a lease to rent mining colocation space for 6 months, hoping that we could keep mining because the price would at least stagnate if not go up. But the teddy bear left and the grizzly bear showed up, ETH went to $90 and the rest is history.

Yes, excellent observation!

I also believe, the war between Russia x Ukraine is very relevant and that it could impact perhaps the entire population on earth, directly and indirectly!
Not to mention, this war could get worse, as there will be the possibility of other countries getting involved.

A few years ago I was also interested in buying some video cards to mine, but with the great popularity of mining, it became unfeasible, because most of the video cards became scarce and with that the price of these equipments increased.

I even want to go back to mining, but in my opinion, I believe it will be more valid when the migration from ETH changes to PoS, with that, there will be great opportunities to acquire vga's with an inviting price!

Shorting Coinbase is way too late right now. Most likely the stock has bottomed or it will bottom pretty soon. Best time to short it was during launch.

Generally when the bull market is strong, many exchanges hire tons of extra staff. Because they get flooded with applications, support, etc.

But in a bear market, nobody is interested in crypto and they start to lay people off. Happens every cycle.

I don't think so. I think the price can go much lower than this, especially if Bitcoin price goes < $25k. Either way, I didn't short it to speculate. I shorted it to hedge the risk of coin prices going down further.

The reason it has never "crashed below the previous all-time high " is because btc grew 100 or more times on previous cycles, this cycle it rose only 23 times, bottom to top. So yeah lets see what happens this time around.

Listen to the Bears.

Metroid has called a bear market since Jan 2021 or 12+6 = 18 months in a row.

Every one of those months a person mining eth with a nvidia series gpu and 15 cent power turned a profit.


Lets see 3090 burns 300 watts  or 7.2 kwatts a day lets say 8 kwatts a day.say 8 x 15 cents  it earns 110 x 2.3 cents

so earns 2.53
and burns 1.20 at 15 cents

daily profit = 1.33 a day. this is not bear for mining

in fact

it burns

80 cents at 10 cent power

and

40 cents at 5 cent power


so

1.33 15 cent power for next 75 days = 100 profit
1.73 10 cent power for next 75 days = 130 profit
2.13   5 cent power for next 75 days = 160 profit

the numbers above are most likely surely going to happen

and they would mean that miners will have had a solid 21 months in a row of making money.

One or 2 more delays of pos now sept say Jan 1 would mean 24 or 25 months of profit since Metroid called bear.

Not knocking Metroid as we have a new condition here

bear/crab for investor/trader dec 2020 =28k June 2022 = 29k

bull/crab for miner same time zone


this is actually new as I see it.

I did not call a bear market since januay 2021, I called a huge crash because altcoin prices rose too fast, beyond anything possible, some coins rose 50 times in days and that is insane, and when I see that I will call that a huge crash is coming. There are phases in this market, I'm not even calling this a bear market yet, this is a pre bear market, yeah the next one is a bear market. Yes, I said not to buy gpus if more than msrp and I said not to buy coins because scammers were pumping coins to more than 50x. I said to sell coins and get that 50x scammers pumped, I myself sold 80% of my eth I had at the end of january 2021 at 1500 usd. So you are right, if people bought gpus before january 2021 and still mining to this day june 2022 did profit big but only if they sold close to the top if not then they have not because gpus prices at that month rose too much too, remember you only profit if you sell, eth at 4.8k top was good eth at 1.7k is bad and will get worse.

Not knocking what you say just pointing out you have been negative since jan 2021.

and that pos seems to be pushed out one more month to sep 2022 not aug. 2022

We both agree that a slide 🛝 will happen but it is more or less when it happens we disagree on.

I am thinking winter 2022 / 2023.

Say Dec-Jan time frame.

Concerning pos, I did not say eth pos would have come in 2021 or even 2022, to me I was always very clear that it would come one year or at least 18 months prior the next pre bullrun. So as btc halves in april 2024, my prediction was that pos would have come starting 2023 onwards, so I was on point on that too as far as is going, the issue that I always pointed out was about buying gpus for more than msrp and we know what happened after january 2021, gpu prices jumped 4 times x msrp and that was insane, no way I would have recommended anybody to buy gpus at such inflated prices but like I said the ones that have bought gpus at inflated prices and sold at top then they won big, the ones that bought gpus at inflated prices and have not sold at top they have not even reached roi because difficulty increased so much and price decreased so much that reaching roi would be close to impossible if people sell their eth now, eth difficulty in february 2021 was 5th's, now 15th's, so basically you are earning 3 times less eth now than in february 2021 and price is pretty much the same.

Given the difficulty at that time 5th's, you were earning with a 3070 0.06 eth per month, today you are earning 0.02 eth per month with 60 mhs and this i'm not even accounting the gpus were lhr which would be 30%~50% less earnings per month and many people bought lhrs 3070 gpus for 2k each. Anyway my point is, 0.06 x 1 first month + 0.05 next month and ever decreasing earnings to the point of 0.02 today makes an average of 0.035 per month x 14 months average = 0.5 eth, eth right now 1.8k, 0.5 eth = 900 usd, people paid on 3070 around 1600 usd, so they never even reached roi up to now if they did not sell close to the top or at top. So the people who bought gpus at msrp or lower earned big and reached roi and that was what I recommended people to do so.

https://whattomine.com/coins/151-eth-ethash?hr=60&p=0.0&fee=2.0&cost=0.1&cost_currency=USD&hcost=1600.0&span_br=1h&span_d=24&commit=Calculate
https://etherscan.io/chart/difficulty

I always found it curious why you did this. I know you bought your eth at around $80 so selling at $1500 was a huge profit, but why only target around $100+ above the previous ath from back in 2018? Why didn't you dca out, ie. layer out, say 25% at $1500, 25% at $2500, etc.?

Everything rose too fast, it was insane, eth did not but altcoins rose too much, so, because altcoins rose too fast a huge crash was imminent, so I sold before that, yea there are phases but insanity goes beyond market phases, crypto is 99% speculation, 1% is error. I bought some altcoins few months ago and sold them when I saw 4 times rise and then all crashed much much lower than what I bought. When on profit, sell, there are levels of greedy, I was not too greedy, yes I was greedy because I got almost 20 times profit and it was enough for me, aiming higher than that is delusion but each to its own.

It is easy to trade the past  :D

1500 USD was a good price to sell, and at that moment, was a good decision for sure, because a crash could occur and again people could ended with a bag of coins
After lived a bear market, I learned that we can't be too greedy, and we can always leave some %, like 5 or 10% to sell in an incredible pump.
This is for altcoins and mining to pay costs, for BTC I believe in a better future, and for ETH sometimes I have bad feelings about, but in the long run it should be good enough to maintain the 2nd place and the main altcoin for some years.
And if you hold a coin and mine at a loss just for secure network and support the project I also really respect that.

Bear market is always confusing, some say we are already in a bear market, some say we're not yet, but in my opinion, we are for some time and NOBODY knows the future, maybe the cycle will not repeat again and we can start some run to ATH again...

This is evident with crypto casino's too. One of the rudimentary ways of noticing if the crypto market is squeezing the casino businesses hard or not is by tracking the way they campaign in the forum through signature campaigns. A few of them are already pulling out as compared to who things were last year.

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If we are to look at the halving previous cycles, we have only 3 price peaks  with 2 confirmed bottoms to consider. The price growth in the early years before the 2013 bull run obviously had to be more than 100 since the bottom was $0. The next cycle, it was just around 36 times since BTC bottomed at around $530.

https://i.imgur.com/u7xU4Vo.png

I’m already getting bear market vibes when I come to the bitcointalk mining section and there are only 5 active topics in the last 24 hours.

When the forum starts to become dead, usually means the bottom should be near. I remember both the 2015 and early 2019 bottom had similar activities. People assumed crypto was dead, moved on and then it bottomed.

The cycle top is usually when mining section is very busy and everyday we get topics like “how can I mine Bitcoin on my laptop”. Like we had almost daily about 6 months ago.

Every cycle BTC will rise x times less and less than previous, this cycle was 23 times, next time, if btc rises 10 times consider good enough, 20 times top but everything depends where the bottom will be, to me  bottom will be lower than the cost to mine one btc which at moment is around 10k ~ 15k. This will crash a lot yet, this is pre bear market with lot of small bulltraps and then a huge bulltrap before going to hehell then we will know the bottom. September 2022 - March 2023 we will see the bottom.

Is it possible that 2023 will be more bloody than 2022 bear market? I am trying to look back into the past, I think buying 50% of my portfolio in September 2022 and leaving the rest 50% for 2023 is the best strategy here, what do you think Sir Metroid.

It is difficult to buy at the bottom or to sell at the top, need to find the medium term, buying 20% as it goes down on every new bottom from now is good, for example btc bottom is 25k at the moment, if it goes below that then wait 2 days or so then buy 20% and repeat the process as for myself given the current market conditions, I will start buying bottoms below 15k, I'm not buying altcoins.

I still don't get it, why are you so against altcoins? All thanks go to altcoins because they are the reason why I have more money in my bank account and also some BTC in my wallet, it won't be possible for me without altcoin investments, I made more money from altcoins that what I am trying to say.

It sure looks like that,I also see very few newly created topics,when it was the top,a lot of people were creating new topics daily asking for help and also for advice on what GPU they should buy,how much money is considered normal to pay for that specific GPU,what was the max price anyone here would pay over MSRP for the specific card and so on the same for ASIC miners.The fact that Bitcoin price is having a lot of difficulty to bypass that 33.000 dollars mark from quite a lot of time can also be considered by many a vibe of a bear market.

The truth is though that we are far from a bear market as long as the price it stays above 30.000 dollars,I consider this to be a good price overall for Bitcoin and for people to continue to mine it,of course those who see value in this and believe in another bull run coming hopefully soon rather than late.

Yes maybe you have more money in bank account - higher chance to go x5 - x10 or more with altcoins, but also more risk to lose all - Terra Luna  :D

Higher chance for big win = higher risk to lose all.


I don´t call it a bear market at this time, but the top is over, next top come in 3 years - maybe 2, but not earlier. People still believe we are in the "Super Cycle" or that we on the road, same happen in 2017/2018, people think this are normal correction and yes i agree, but this are bear market / downtrend market corrections. Price range between 20000 - 25000 dollar is really untraded - we will see this price again, the question is - when it happens.

What to do in bear market???

Keep mining and HOLD. I have been mining since 2013 and always sold as i needed cash. If only i had held the coins i mined i would be a multi millionaire now. It's too late now to make a lot of money imo but you can still make good money but only if you hold for better prices in bull markets

No one can answer your question in the right way, because none of us can say what coin is more worth in the future.

I checked the  top100 coins today and dezember 2017, many of this coins are less or same worth like in 2017.

My advice = keep mining if your electricity bill is less than your monthly mining rewards, pay your electricity bill with crypto and hodl and swap the rest into BTC and HODL it

If next bull market comes then bitcoin always rise first, altcoins rise much later, plus on the bear market most altcoins die and then next bullrun scammers create new ones. So is never a good thing to keep altcoins, also people buy altcoins prior bull market, usually on pre bull market and sell them all as soon as they know bull market pump and dump are done for.


The thing is, most coins, I'd say 95%, are pump and dumps, most altcoins had a 20 or more times rise and then had the same 20 or more times dump, anyway dump is not over yet, will get a lot worse. For example ravencoin, prior bull market 2021, it was 0.007, now around $0.025, it got as high as $0.30 and soon ravencoin might crash to 0.007 again or even lower. This is pow coins, imagine pos coins which are true scam. Don't touch pos coins, if pow coins are bad imagine pos coins, aka luna, solana and other scamcoins.

Hehehe, you consider all altcoins equal?

I know it's pretty hard to keep altcoins in a long term portfolio, and many will end with a bag of coins
In 2017 - 2018 I had a lot of cards and I put 1 or 2 to only mine unknown coins to keep and sell after some time, expecting to be like ETH worthing a few dollars and them more than 100 USD at that time, and I ended with a bag of coins like I said above  :D

BUT there are projects of coins, like BNB and SOLANA as you said as a scam coin, who are supported by exchanges, and in my opinion we can't put in the same category of another coins, because it's a coin people will use daily to pay fees on the exchange or to run a game, example of Solana, and Polygon is another coin. There's as incentive to use
Just my opinion, and I don't like POS coins

Raven coin is a project I thought would be dead right now, but even 4 years later people are still mining and supporting the project, ETC classic is another example for me, a coin holding some value even after some cycles.

Exchanges like binances and many others are the main ones that pump scamcoins to make people not see them as scamcoins, so people feel safe to invest in them and then they die but before that binance and other exchanges dump before the coin die, people lose money and then binance and other exchanges create a story about it and stays as it goes, 95% of all altcoins are scamcoins. I lost lot of money in mtgox 2014, almost lost money on btc-e, acted fast on other exchanges before they died, mtgox in 2014 bankruptcy taught me many things.

Also Binance CEO said he lost 1.4 bilion on luna but I'm sure before that he dumped so much luna, he had billions on it, sure he lost small amount of what he had but that he will not tell. One thing I have learned through these years is, exchanges by law are just legal thieves, only leave coins that you are willing to lose. I'm still trying to get my money from mtgox, it's been 8 years and still waiting.

If power cost is equal to mining revenue, all the coins go to paying the power bill, and zero are left to HODL. On top of that, the video cards depreciate over time, especially during a bear market. A $380 RTX 3060 card can easily be worth just $200 if ETH went to $900 or ETH went to PoS.

That's why I'm selling half my video cards now, in the hope of building even more rigs if/when the real bear market starts. GPU prices are still above MSRP.

It will get to a stage where buying your favourite tokens will save you time and energy instead of mining that's why it's better to have some money available with you and also keep mining with what you have left, you still have a good chance to sell some of your GPU right now before its too late.

I have 2 x 3080, I paid 800 usd for each in january 2021, I spent 100 usd to change thermal pads on them, I never bought them to mine, so I will not sell, yes I'm planning to buy 1 x 4090 for that new samsung monitor g8 1196 mini leds at 3840x2160 4k 240hz for gaming.

Do both if you aren't in a very tight situation, have some USDT and keep mining with what you have left, which ever works out you won't be missing out in both sides, this bear market will be around for a year and a half before things start settling again but I think 2023 will be worse, a very bad recession is coming.

Now I see clearly, I didn't know you are here since that time and that incident. You've been cautious since them, you're calling bear market soon enough to not maximize your gains, but soon enough to not get burned  :D



Can I ask why bought 2x high end cards, paying to change thermals but not to mine?
I'm just asking because SLI is not an option anymore so it doesn't make sense to buy more than 1 card  :D
Confess, you're a miner and bought cards to mine  ;D

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Are you really willing to buy cards in a crash, let's say like you "in the real bear"?
I ask that because I see a lot of people saying that will buy cards or coins when it's cheaper, but when the crash comes, only a few have courage to buy
For example, rx480, 470 were dumped a few years ago, pretty cheap, and I saw some guys buying to gaming pc, but I did not see someone buying to mine, because there were no profits to be made...

The 2 x 3080 are for deep learning and AI reverse engineering graphical content, miners usually buy dozens of gpus, anyway, it is always better to buy coins except in the bull market, mining makes no sense if you are looking for profit, yeah my plan is to wait the real bottom and buy just like when I did in 2018. I'm patient, I can wait, funny will be sheeps buying now and then a 50% crash comes in few months and they could have bought twice as much, in this market if people are not patient then they get burnt easily, bear market is here to stay for at least 12 months more and by the way this is a pre bear market, bear market things are much much gloomier hehe

I absolutely have the courage to buy $30k+ worth of mining rigs during the real bear market, when or if they're half of MSRP. I have gone through the last bear market and this strategy has given me a 5x return on my money. I'll buy the rigs and assume they will make zero profit for 3 years in a row. Only then would I give up and sell the cards.

Do you really think that "layering-out/dcaing-out starting at 1.5k" is "trading the past"?

Back at the start of 2019, looking at what eth did over 2017-2018, were you not possibly thinking: "ok, eth reached 1.4k last time, I expect that it can reach at least 1.5k next bull run", so you end up planning to layer-out starting at 1.5k.

That's not "trading the past", that's just executing a plan you made based on the previous bull run.

In Metroid's case he based his decision mainly on how eth reached certain price levels (or how the market in general reached those levels) and not just on the price level itself. When I made my plan back in Jan 2019, I did not consider how the market reached certain price levels and only looked at the price levels (though I was greedier as my layer-out start point was at twice the previous bull run ath). For the next bull run, I'll probably factor in how the price reaches certain levels and not just the actual price level.

Well I had many posts that I said eth 2.0 price is above 5k, eth 1.0 would not hit 5k, even though I said that I did not wait because how the market was insane in few days and I acted fast and sold 80% of all eth I had, I thought it would crash fast too and I could buy back much lower, it did crash back 1050 usd and I did not buy it back because I thought it would be a trap, scammers were spreading too much bs, people were getting insane, so I preferred not to buy back. What made eth to rise to almost 5k was the fact a fork was coming out to burn eth fees then from 1500 it got fast to 3k, when eth price was higher than of what i had sold around 1700 then I preferred not to buy even though I knew scammers would rise it fast. The same thing happened when I created a sell order of my 20% remaining eth at 4900 usd, it got as high as 4820 usd, yeah for few dollars I missed the chance to sell my 20% of eth left, to this day I never sold them. I missed the chance to sell for 4800 usd ,why should I sell for 1800 usd? If I was in need of money yes but since i'm 60% in fiat, I dont need to sell them, yes I could have sold high and bought now but I missed that sell point. You see, market price is market price, if you miss, might have another chance to sell high, yeah might take few years but that is how the game is.

For the next term, I need to know what the bottom is going to be and make projections where this will be going next bullrun, my initial projection right now is 12 times for btc and 25 times for eth, eth this last bullrun rose 50 times and btc 23 times, so cut that on 50%, every cycle will be 50% less as per my projections. The crash will also be cut in half, so eth will crash as much as 6 - 8 times and btc 3 to 5 from top, meaning btc will crash to 14k - 22k and eth 625 - 833 usd on this bear market. This is not bear market yet.

I really hope that 12x prediction for the next btc bull run is correct.

Back in 2019, of the various computations to predict btc bull run peaks one of the simplest ones was to use the low-to-high ratio for each historical cycle, and it went something like:

Nov 2011 low to Nov 2013 peak was an approx 500x multplier.
Jan 2015 low to Dec 2017 peak was an approx 100x multiplier.

The multiplier change between these 2 cycles was 500/100 = 5, so the projected low-to-high ratio for the next cycle (i.e. 2021 bull run) would theoretically be 100/5 = 20.

And what was the actual multiplier in the 2021 bull run: approx 23

If that trend in the decrease in the multiplier by a factor of 5 holds true then the next bull run multiplier could be in the 4x to 5x range only! If the recent 25k low turns out to be the actual cycle low then the next peak could be in the 100k-125k range. That's some depressing sh*t!

I always felt that the low-to-high ratio method was too lowball in it's predictions, but the fact that it was almost spot on for the 2021 peak made it scary.

Yeah I know, I said that 100k would never hit this cycle and I was spot on, scammers were spreading that 100k would be within weeks, poor people that fell for that, my top numbers(79k - 89k) were a lot more conservative than 99.9% traders, 69k was also one of my top numbers because in 2013, btc got as high as 6999 yuan on chinese exchanges, so I thought that number would come back in 2021, many people at that time thought btc would hit 10k yuan but it never hit. So I thought last year looked so much alike 2013, the hype and everything.

1. Expect many crypto projects to vanish into thin air.
2. For now stick with BTC since the bear market is just getting started.
3. After a few months when we see a new dip then you can start buying some tokens that survive the insane crash.
4. 2023 might be bloodier due to possible recession, I suggest keeping a few dollars aside just in case.
5. Sell a few GPUs and use the rest to mine credible projects like Flux.

This article should be good to read if you are a miner, be extremely careful if you plan to buy gpus.

https://www.youtube.com/watch?v=n0BPrDK6xmE

Exactly my strategy

I also knew $100K wouldn’t hit however I didn’t think $69K would be the top. Since we had a $65K top prior and it looked like it had more room to run, it seemed that the top would be anywhere in the $75-85k area. Which would also be the $100,000 per BTC in AUD and CAD currencies. Would of sold everything there but unfortunately never hit.

It’s a shame that we had conservative targets and neither of them got hit. I actually also assumed that $50K might be the top so sold a bunch at like $49.5K.

Either way, nothing you can do now.

ETH is almost at the same price I sold in the end of january 2021, 1500 usd, a mistake here is to buy those eth back, the trend is to go to hehel and this is just the beginning, my crash bottom projection still 6 - 8.5 times down from 4.8k which is 800 - 564 usd, imagine eth fork happening now, those millions of eth unlocked and people running to sell their bag to get some of that fiat, imagine how many people lost the opportunity to sell at 4k because they staked their eth and now are seeing eth crashing below 1600 usd and soon below 1000 usd, that is good lesson, I told them not to stake anything, they never listened.

The withdrawal function for staked eth is not part of the merge. Core devs will schedule enabling of withdrawals in a future fork post-merge, but no hard date has been published.

Really? since 2020 as far as I know, reason I myself have not staked my eth was because coins would only be unlocked as soon as the merger was finalized, that was the deal, did they change it?

Here's an interview conducted with Tim Beiko a few days ago where he clarifies on this, see at time 53:40 in the interview:

https://www.youtube.com/watch?v=pUA-HzIbWD0

Thank you very much for the link, is not a misconception, is what they told people that wanted to stake. Now they have come up with another narrative which I called lie and bs altogether because they understood that as soon as the merge was finalized, people who staked their eth would sell as fast as they could. See that is why you can't trust any coin devs, especially eth which is heavily centralized. Thankgod I have not staked my coins at that time, did not fall for their fairy tale bs.

Don’t know if you guys are paying attention to ETH. Basically there is some illiquid staked token called stETH which has depegged from ETH.

This is a token that should be redeamable for 1 ETH after the merge or 6-12 months after. And it’s causing a crisis right now for ETH.

Some large holders like Celcius own a lot of this token and they are about to become insolvent. Also the way Defi lending works, some use stETH for collateral and if the depeg keeps dropping it will set off a huge liquidation of many assets.

ETH is going down again, into yearly lows on a very illiquid Saturday.

Not looking good.

There is no right answer.  Depends on your mining costs and what you can get the cards for.  We haven't seen close to bottom yet when we do you should see cards hit an equilibrium price because they won't completely drop to nothing, asics will but not cards.  After that equilibrium price is seen coins will keep falling and makes a better case to buy coin direct than cards.  I'm in a wait and see pattern right now.

It has started, yeah not looking good, people should be very careful now, I would not buy anything at all, I mean nothing, keep your money safe and wait few months, september 2022 - march 2023. That is when we will know the bottom.


In my case, I always bought coins in the bear market, mining is only good if you buy gpus before the bullrun, pre bull market and sell the coins after few months the bull market started and before the pre bear market starts.

Understood and yeah buying coin instead of cards before a bull is always good but in the end the thing with cards is that ypu will always be able to sell them.  Buying coins can end up at zero for at least a lot of altcoins.  So I guess it comes down to risk/reward too.  All in all I think there is an argument either way depending on your risk appetite.

ETH still dropping on all this stETH drama.

If you pull up a monthly chart for ETHUSD on Coinbase you will see that it almost touched the ATH from 2017. It was only off by $10. The low was $1430 and high back then was $1420.

Seems like a great price however, honestly don’t think it’s a good area to buy. Most likely won’t hold and might come closer to the $1000 areas.

I prefer buying coins over graphics cards because if you want to mine a coin, you have to calculate the electricity cost and how much reward you will receive in one day or month. Before starting mining, we must calculate everything so there will be no regrets later.

Therefore, I prefer to buy coins because we don't need to calculate various things and only analyze the coin before buying.

It seems eth got lower than 2017 ath, lowest 24h is 1422 usd. BTC is holding well reason altcoins are not crashing lower and lower, as soon as btc crashes below 20k then we will start seeing misery, pain, nightmares and so on, eth went from 1440 usd to 80 usd, that was 17.5 times crash, insane, so a 9x crash minimum is possible for eth this time, so 500 - 800 usd but it might crash lower if the 500 usd is lost then next worse case scenario would be 300 usd as bottom, I dont think eth will crash lower than 300 usd except if a luna scam effect happens.

Market is being irrational again, after Luna, every signal of "death spiral", "depeg" etc, people are losing their minds without understand whats's happening

I remember in 2018 we didn't have war, money crisis, inflation etc, so I started to think it's becoming harder to see people or companies investing tons of money right now due to these circumstances, and for consequence, we'll not see a big pump anymore, so, better to put ETH on a cold wallet and wait a little more  :D

I didn't expect this price of ETH so soon, maybe it's better to suffer soon than slowly and later  :D

michael saylor (micro strategy) should be liquidated before BTC goes to 100k LOL

at around the same time ETH goes POS and the blockchain goes to a halt like solana LOL

then we all begin again for the next big thing  ;D

Yeah, this will only get worse, last year scammers and the media used the same inflation word to make people to buy cryptos and saying protect your money by buying crypto, now you see the same media and scammers saying nothing, I guess they sold at top and will buy at bottom and they know the bottom will be sometime next 12 months or so.


I dont think he will sell all his btc, I'm sure he will sell if he needs money, that man is an one man army, he puts all his eggs in just one basket, he is brave, I mean BTC is the first coin created and the most valuable at moment but one day BTC will be replaced and if that happens then gameover, he will likely kill himself for stupidity. Yeah I'm sure scammers will great other scams and hopes and dreams for new gamblers next cycle, the question is which coins will survive this death spiral, usually 99% of coins die and of these 1% that survive, most crash 90% or more and some 99% from top.

There will be a bulltrap before we move to bear market, this still a pre bear market.