"The Internet won't last but the underlying TCP/IP protocol will." -Bill Gates
Ok, he didn't really say that but that's about as stupid a statement as all of these "I don't like Bitcoin (because media told me not to) but the underlying blockchain technology is awesome" articles.
Bitcoin is the only blockchain technology that has over a million dollars of security being pumped into it daily. Trying to use something else is as senseless as trying to create your own TCP/IP network that does not connect to the Internet. It might be useful for experimentation for some specific project, but it will never take over the Internet or even really be of much use to anyone but your small project.
Do you think you may got this backwards E? Blockchain is TCP/IP and bitcoin currency a shell running on top of it. It reads ok to me, using word substitutions his point is: "The Internet won't last but the underlying TCP/IP protocol will." "The 'Bitcoin' won't last but the underlying 'blockchain' protocol will." |
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had a bad experience with double your btc in x hours scheme so i would not recommend any site especially if all of the investments goes straight to company or the owner's account. This puts your money at high risk. What i can suggest is to join a program that no one is holding that money but only members. Luckily i have found a program for only $20 one time investment that pays 5x to infinity! This makes sense to me as there is only little chance that someone will run away with $20. Check this out http://bitcoinforfree.gr8.com and oh you will also get .005 btc bonus as well - limited time only. Might make sense to you, but you are only looking at just your investment. If they sucker in 1,000 people, that $20 becomes $20,000 and that's well worth running away with. |
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Yea-ha! Nothing but rainbows and unicorns in our future.  |
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Unless you enter into a sensory deprivation unit for a period of time, everything you encounter on a daily basis is manipulated to some degree. Even when you sleep your dreams are influenced by what you did in your waking state. To live is to be manipulated, this could be for good or bad, but it is the essence of our existence.
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I was already starting to sell off my doge holdings as it approached and then passed the 100 sat mark, but when it hit 120 sat I couldn't sell fast enough. I was checking all my PCs, hard-drives, and USB sticks for old doge wallets, lol.
Anyway, I made plenty where when it drops back down into the 30 sat range, I can re-buy double the amount of doge I sold off and still retain half my profits in BTC. Sweet days indeed.
You think doge is even worth buying once it falls down to 30 sats? it doesnt seem to hold its price too well, the best we could hope for is in another years time it gets pumped back up to 100 or so but thats a pretty long investment. No idea, but looking at long-term trends it does seem to poke up for a new pump every 6 months or so, so in any event it is really a long term position. Good thing is it seems to flat-line when near its bottom for a long period of time, so should be easy to spot to buy back in. What you said kinda got me thinking on a sidebar; I know what you are saying about a years time is long in Crypto-world, but even if it took another year for doge, or any coin for that matter, to hypothetically drop to 30 and pump again to 120, out in the rest of the world people would jump at the chance for a 4x return in under a year. |
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It's hard to make a mistake trading high volume coins at Polo. Anyone who knows how to buy low then sell high could make some profit.
Don't mean to knock ya, but that comment sounds like "Famous Last Words." [ Yes, my scars are showing.  ] Well there's more to it than buy low, sell high. What I mean is trading just got easier lately with all the pumps. Actually buy low and sell high is ALL there is to it. People just need to learn to zoom the charts out instead of staring at the 5 min candle for just the past 6 hours view. |
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This is craziness. Now being a frequenter of the speculation section, I have to say: Did anyone predict this was going to happen?
And it figures that I sold all my DOGE months ago. I have a very bad habit of selling too soon. Ugh.
Fortunately, I still had a few mil doge in an wallet that I finally gave up today. Figure with this huge of a spike, I can buy them all back when they drop back down into the 30's and still retain a decent profit. Then I will wait another 6 months for the next spike. Sir you are very fortunate. I'm totally kicking myself for selling all of those coins off. I could easily have quadrupled my coins within the last 3 days. Like I said, it's totally craziness. Actually more like sheer luck, I had almost put them out of my mind but when I saw Doge rising I remembered I had a few somewhere and was a bit surprised when I found the wallet and saw I had so many. In this situation it worked out well, as it took the block-chain a bit to sync up and the wait for confirmation time on the exchange probably netted me a few extra 10's of satoshis, as I would have sold them all off at 80-90 if I could have transferred them sooner. Well, still hoping for a drop back to 30's in the next weeks/months, as I will be able to buy back and not only double the amount of doge I had, but also retain almost half the profit I made in BTC. Love to finally have been a part of a 4x rise in a coin and actually on right right side of the trade, haha. Now to not lose it all looking for more upcoming pumps, that is the real secret I think. |
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I was already starting to sell off my doge holdings as it approached and then passed the 100 sat mark, but when it hit 120 sat I couldn't sell fast enough. I was checking all my PCs, hard-drives, and USB sticks for old doge wallets, lol.
Anyway, I made plenty where when it drops back down into the 30 sat range, I can re-buy double the amount of doge I sold off and still retain half my profits in BTC. Sweet days indeed.
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I tried you calculator and it seems to match up with my own calculations, so kudos for not being over optimistic with the assumptions as you mentioned some other calculators seem to be. I also agree that figuring in electric cost is a major point that should be included in the calculations.
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I don't know, but Doge topped over 120 satoshis today after trading for months in the 30-40's, so anything is possible I guess. Litecoin was pretty close to hitting $10 last year due to the pump, so I do not think $10 is that unrealistic of a prediction.
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Obviously when the supply is getting reduced, price needs to go up. So, bitcoin is no exception for this basic rule. I do not have any doubt that bitcoin prices will go high around the event of block reward halving. I believe bitcoin prices will test $2000 just due to halving consequences.
I like your optimism, $2,000 would be nice for a lot of us. The question then becomes, do I sell some or continue to hold. In any event, it looks like the current projection of the halving is July 16, 2016 so we don't have too much longer to speculate. I would think the price will make several large movements in both direction leading up to the event. |
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I have a feeling most of the alts will follow BTC to its grave if your scenario played out and in fact not survive on their own. Most alts are traded via btc pair anyway and not too many are traded on their own, but even the ones that do are for the most part Bitcoin copy/paste variants.
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This is craziness. Now being a frequenter of the speculation section, I have to say: Did anyone predict this was going to happen?
And it figures that I sold all my DOGE months ago. I have a very bad habit of selling too soon. Ugh.
Fortunately, I still had a few mil doge in an wallet that I finally gave up today. Figure with this huge of a spike, I can buy them all back when they drop back down into the 30's and still retain a decent profit. Then I will wait another 6 months for the next spike. |
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I buy the dips and sell the highs, or more correctly I buy things I would be buying anyway online with BTC. If I time it right I can usually put my savings toward building up my BTC. Example, say I want a new computer monitor that is $500. When BTC is trading high, I can buy the monitor with BTC. Later when BTC dips again, I replace the BTC and usually make few extra.
So instead of sending cash payment for $500 to buy the monitor, lets imagine I timed it good and bought when BTC was trading at $500. Then later when BTC falls below $400, I buy $500 worth to replace the 1 BTC I spent and have enough extra in savings to buy .25 BTC more, now I have the same monitor I would have bought plus an extra .25 BTC in my account. This may seem too complicated, but to me it is like accumulating BTC by buying it with my savings when buying stuff I normally would anyway.
Of course this strategy only works for purchases you are fine to wait on, as sometimes there can be a significant lag between good highs and good lows.
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Didn't read the thread, but the book title seems to place it in the same category as the "How to make millions and retire early type". If the author has such a surefire way to make money why share it?
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Take a look at the overall volume on all crypto markets. This year will be full of speculation and plenty of Chinese gamblers trying to make a quick buck.
Agree with this sentiment. Look at Ethereum's recent rise, heck even Doge is back to the 90's. If nothing else, this year will be full of alt pump and dumps, plenty of opportunity to grow you BTC stash.. |
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I have a few rigs left over from the scrypt and other alt coin mining days that I keep simply for playing around with and recently switched over to mining Eth. Currently I have 6 AMD 7970 GPU's running and I make roughly 1 Eth per day from each of them, or 6 Eth daily total when pointing to a pool. I should also point out this include present pool bonuses that are being offered so in the future this will go down somewhat with both increased competition and removal of bonuses. I am probably currently mining 5.2 Eth per day and get ~.8 bonus.
So in my situation, and already having the equipment (meaning no initial investment to pay back) I get the following:
6 x 7970 GPU's running at ~200 watt draw each (from wall including overhead of CPU/MB): 1,200 watts/hr
My electricity is fairly high in my area at $0.13 kw/h, so I have: 1.2 kw/h x $0.13 x 24 hours = $3.75/day (rounded up) in power costs.
Eth has been selling for between $0.80 - $1.60 in the past month, lets use $1.20 average: 6 Eth /day * $1.20 = $7.20
So on average, for the past month or two I have been not quite doubling my money $7.20 income - $3.75 power = $3.45/day profit.
It is winter here, so I do get a bit of benefit from the extra heat which I do not take into consideration in my calculations, but as you can see if I didn't already have the equipment it would not be worth the investment in hardware. Of course Eth could go up in price, but often the hash rates catch up to keep the profits from mining minimal, so you would be better off just buying them and speculating on price appreciation if that is your goal.
I will keep at it until the break even price goes below 0, as I look at it currently as getting half priced Ethereum, but again this is from more the hobbyist perspective than someone trying to make any money off of it.
What are the frequency and voltage of your cards? Your electricity is cheaper compared to those in some western Europe. Core clock 1025 / memory 1375 voltage is slightly undervolted from the scrypt mining days. I tried playing around with the settings when I first started mining Ethereum but didn't really see any appreciable difference in hashrate. I haven't tried lowering voltage much more, as they were tweaked before to run scrypt without crashing if I went much lower and the power draw right now is not too bad. Each card had its own sweet-spot on voltage so it was a pain to dial in each one (thus my hesitation to do it again) but most were just a bit under stock anyway. Yeah, I am sure I am not at the highest electricity rates in the world, but I also know there are plenty of people who pay half what I do, and in some countries I have seen as low as 2-3 cents per KWh. Since it is winter, I do get the extra benefit of the heat being put to a good purpose. I will also add that with the recent price hike, my Eth per day has declined to about 5 Eth per day, down from the 6 that I was earning previously. Of course with Eth now selling at $2.50 each, my gross daily income from mining is 5 x $2.50 or $12.50/day, so with power rates staying constant my net income has increased to around $8.75 a day. Still not enough to consider buying more cards, but at least it is the most profitable GPU coin we have had in some time. |
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If you do not have your backup, there is nothing anyone can do. You have lost your Litecoins and nothing can be done about it.
Sir, i am just saying that, if staff can change my payout LTC address (at litecoinpool.org) to my latest LTC wallet address, so that i wont lost any further LTCs which i will be getting from mining.... You could just make a new account pointing to a new wallet address that you now control for future payments and then change your miners to use the new worker ID from that new account. This at least will help with future payments since it sounds like you are still actively mining. |
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Luckily I never brought at the peak. The only reason i never was because i was not around to lol I did buy at $6xx - $5xx - $4xx - $3xx -$2xx and that was just as bad. I have managed to make all my losses back though and it is a thing of the past so has no bearing on my emotional state. I think it may well have if i had not become in profit from it. Anyone who bought at $1,200 on FOMO got what was coming to them. By then the train had already left the station many miles ago and it would be like trying to get on by jumping onto it from an overpass as it was traveling 80 MPH, but not looking down the tracks to notice it was about to go over a bridge that was out.. While that is poetic do you really believe people would have jumped on to a moving train had they know it was the peak. Needless to say they would not, nobody knew because in this reality you can't see down the track unless you are the whales creating the prices.. I have had my share of market missteps and get mine when it is deserved, I do not place myself above that. But in this particular case we had people who had no knowledge of trading, much less Bitcoin itself, going out and tossing $1,200 at something because "if they didn't hurry they would miss out." What they got was indeed what they deserved, a big slap down for acting so irrationally instead of doing a bit of research to look at the parabolic rise up and pausing a bit to consider that maybe it wouldn't go up like this much longer. If you only bought 1 BTC or less at that price consider it a bargain in a lesson in cold hard reality. |
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Bitcoin is pretty much just a hobby for me. I own a few and like everyone else I secretly hope they skyrocket to some absurdly high amount in the next few years, but in all reality if it went away it wouldn't be the end of the world for me. I have played with mining alts and trading them for BTC, sent a few BTC to various exchanges and "day traded" with them, bought some stuff online using BTC, but at the end of the day I can do all this without bitcoin.
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