Yes cryptos especially alts can go down 90% and you think it’s a good buy and they go down another 90%. So basically a 99% loss and most don’t recover.

Usually what happens is the trading volume decreases and it starts to get delisted and then eventually it becomes useless and forgotten. Many alts head this way.

So just because it seems cheap doesn’t mean anything.

The bubbles burst a long time ago. Many stocks were trending down since last Summer. Bitcoin peaked at the end of the year.

In some markets real estate is getting a small correction but not much. Yes inflation is high and so is employment numbers and with commodities being high also it means a recession. However if it is a recession it either hasn’t started yet or it’s a minor recession.

Last trading day there was a decoupling with the correlation with Bitcoin and the stock market index. So either some crypto fund blew up or Bitcoin is just very bearish.

Usually when stocks go up so does Bitcoin. However stocks went up and Bitcoin traded sideways and then it started to sell off. Make no sense.

Basically if you tried to arb the correlation you would of lost money.

The biggest issue I heard about people who ended up losing money with mining is usually because they borrowed money to buy the gear.

Either by credit card or someone lent them the money. They also overpaid for their gear. Then when bear market came they were pretty much losing money with the interest rate they had to pay on the loan.

So like any business there is always some degree of risk.

From what I remember with the 2015 and 2018 mining bear markets is that the profits were horrible if you were selling daily instead of holding the coins.

I think back in 2015 with ASICs with like 5kw of power you made like 0.05BTC a day. Sounds a lot however price was like $200 back then. So with 5000 watts, you net about $10 a day.

With 2018 and Ethereum mining I remember making exactly $0.00 per day with my 470 GPUs with like 8-10 cent power. There was also a period where earnings where negative.

This was posted in November 2013 which is exactly when it topped. And it pretty much stayed 3 digits for many years afterwards.

It finally broke the 4 figures again until 2017, due to the possible ETF listing with the Facebook twins. However if you took his advice you would be underwater for over 3 years.

The low was like $175 or $200 or so. So buying there would of been the most optimal. Instead of buying at $1000 during the huge FOMO rally.

Yeah I had to check the date a few times and double check the year even because there is no bull market going on right now.

We got like 8 red weeks in a row, possible another 9 coming up. How is that bullish? Stocks had 2 good rally days but doesn’t mean anything since they were over sold. Bitcoin however hasn’t had any decent rallies.

Luna has a lot of conspiracy behind it. After the fact many people came out and said they knew it was going to fail, basically they all said that in hindsight.

There is fud in every coin pretty much even today. Eventually some of those fud will turn out to be true and people will start bragging that they were right from the beginning.

The issue with ETH going POS is that miners will no longer keep the network decentralized it will be the top 1% holders pretty much since that is how staking works.

It’s good for the environment but it’s no different than what we have with traditional banking systems. This was not satoshi goal when he created Bitcoin. Basically the largest holders will get most of the staking rewards and most small users won’t be able to stake at all.

When we get these 8 or 9 weekly red candles it’s not a good thing because it means there are no buyers. The lower the price goes the more people will sell and others will be afraid to buy.

Some are saying it’s bullish because BTCUSDLONGS on Bitfinex is hitting record highs however if you look in the past they generally add whenever there is a big dip, and it can keep on dipping before it actually reverses. So if we head to $20k those longs will keep going up also.

Today was not a good day for Bitcoin. Ethereum looks like it’s about to break the yearly low, stock market had a nice rally and Bitcoin went down. Means it has decoupled finally however the wrong way. We were expecting for crypto to rally when stocks go down but we got the opposite.

Right now it’s not looking too good in the near term, the $25K can easily get tested sometime soon. Especially if Ethereum breaks the $1700 support. On the usdt pairs it already broke the low such as like on Binance.

It’s hard to say which GPU is better

1) Which was overvolted and overclocked inside an closed computer case with bad ventilation which was gamed for 1-2 hours a day for 1 year.

2) Under bolted and under clocked open air GPU which was used 24/7/365.

Which would you pick if you were a buyer?

It’s like the stock market regarding market caps. Some stocks have market caps in the trillions like Apple however that just means if everyone sold at the last traded price which obviously is impossible unless an equal amount of bids were at that price.

When in reliability all it takes is a small percentage of that market cap in sell pressure to reduce the market cap by like half or so.

Same with Luna. Most bought it when it was cheap and never sold. And some bought it a few months back when they were buying BTC to fund the stable coin. And that money is gone now.

My area to buy would be the 200 weekly moving average. If you look at a weekly chart since bitcoins existence you will see it as strong support.

Last I checked it was something like $22K. Which is ideal since I don’t think the old ATH will be reached. And I think we will chop for the summer and the $25K will eventually be retested and broken. Way too much negative news lately for Bitcoin to not retest the $25K area at least. All the bounces are very very weak.

If you guys frequent Twitter you will see tons of FUD for Ethereum, mostly is non sense. However even Saylor is attacking ETH with one of his tweets.

Basically saying that it’s a virtual world that is a copy. He didn’t state Ethereum but he said POS and we all know what he is talking about.

This is why the ETHBTC had a huge dump compared to BTC. Looks like it’s about to break the yearly low.

There are many reasons why someone might rent hashpower.

Most likely reason with ETH is that they can rent the hashpower cheaper than the market rate when the ETH fees are crazy high.

If you are into Defi, Opensea, and pay attention to any drops and when they will happen. You can rent hashpower on the cheap and when fees are like 1000Gwei for a few moments it’ll pay off big.

You guys heard about the Ethereum beacon chain getting a 7 block reorg? Seems to be creating a lot of controversy and wonder how the merge go? Maybe it will get delayed again.

I am not surprised they are running into these issues. The ETH software is very long and complex and it’s been years for POS and they still can’t get it right.

Bitcoin is simple and not complicated and never runs into these issues.

Yes gamers don’t want any GPUs where they were used for mining. I lost maybe 25% of my used GPU sales due to this.

When you got more than 4 GPUs for sale, it’s easy to tell you mined with them. No point in denying it. Many people didn’t care. Some just wanted to make sure it still works and that’s it.

However there are those that didn’t complete the sale when I told them they were mined with. Nothing I could do.

This is good but it’ll take a decade to have a noticeable effect, especially to replace Russians energy. Solar energy would be enough to power the entire planet however it’s very difficult and expensive to collect this energy.

I looked into this at my own home. However the cost right now is way too high and many people are also considering the same. Even the technology has improved and they are cheaper now than before, it’s still a huge cost.

Well you can buy now, over pay a little or wait until it goes a little lower. The issue is you have no guarantee it will go lower.

Sure buying lower is better because you get more bitcoins for your money, however it might bottom before your entry and what do you do then?

Most will obviously buy on the way up and that it’s more dangerous because they can buy it and it can reverse and go back down again, just DCA for now.