Your friend should learn first what difficulty is because I notice most new people have no idea what it is. If a GPU earns $5/day as an example. Say ETH is at $3000. People will just say “I can short hedge some ETH at this price and I am guaranteed to get ROI after a certain amount of days”.

Which is true if ETH goes down and crashes. Usually the difficulty will stay the same or even go lower in their favor. However the issue is when ETH stays the same or goes up a little. Then the difficulty keeps rising and the $5/day can quickly become $4/day or $3/day. And they are at a loss because their short hedge is also underwater.

I think most of us missed the boat on Sol. We should of bought it when the FTX owner was saying he is buying as much as he can at $3. It would of been a better buy at $25. However now it’s still over $100 and even $80 is still pretty expensive considering how cheap it was before.

Also $80 is a pretty significant drop from the ATH. If it goes there it might not be a dip but it can be in bear market territory. It’s better to buy it now and use a tight stop. The market is scared of the Evergrande so might keep dumping everyday until it’s resolved and BTC and alts will suffer as a result.

I would say a business expense is more like transaction fees or trading fees. If you are saying you need to lose like $10k which is considered a learning expense then you are doing it wrong. Sure you need to trade with real money instead of demo to feel emotions but you should try and trade with smaller positions.

Whether you have a $1000 account or a $100000 account. You can take a trade on both and your emotions will be similar on both. But it’s better losing $1K instead of $100K. If you are trading with a $10 account then it’s different because it’s not much and you won’t feel fear and greed. Needs to be an amount not too small and not too big. It’s different for everyone.

Since it’s for short term your best bet is to see which alts are either neutral or bullish when there is a nasty bearish day.

Pull up coin market cap and see if you can find a green alt and find out why it’s green. If it’s because of some positive development then it might be a good short term investment when the market recovers. Because if Bitcoin recovers the alt should pump even more since it’s market cap is smaller and the gains are bigger.

Since the OP never updated the graph it’s hard to tell whether it crossed or not. Since this is a bullish cross it means you were suppose to long after it crossed however it doesn’t look like it did. Since price went down it couldn’t of uncrossed where you would of taken a short. So this was either bull trap or no trade.

September was predicted of being a neutral or bearish month. Look at all the September’s in the past, they weren’t huge bullish candles. Usually October and November are better for crypto and even stock markets in general.

Looks like the OP was correct somewhat. We almost touched $40K. Pretty nasty selling especially at the China open. What we are seeing now is the Evergrande market crash which is affecting all global markets and Bitcoin is following. The reason why it’s significant is because people are expecting another housing crisis crash like in 2008.

People are comparing Evergrande to Lehman brothers. They think that once they go, there will be a domino affect and others will follow and we will have a nasty bear market. However this is only a guess. I don’t think it will go that far. We will see what the developing news is this week.

You can always buy the old Tahiti GPUs for cheap. The Tahiti GPUs are the AMD Radeon 7950, 7970, 280X. You can also try and get the Hawaii which is the R9 290 however it’s a popular card with gamers and might not be cheap.

Anyways. With the Tahiti you can mine ETC until the DAG is greater than 3GB. It hashes at around 22Mhs or so. So not the fastest but pretty decent. Only issue is they are power hogs. No matter how much you undervolt, it will eat 200 watts.

There are also the Pitcairn, which is the r9 270X however those are usually max 2gb.

I’ve read that tweet back in July. While it’s possible it’s all speculation and no direct proof. Now whether Evergrande goes bankrupt or gets a bail out is not similar to the Lehman brothers back in 2008. Even if Lehman brothers got a bail out there would be a recession anyways.

I think everybody is trying to time the top of this stock market cycle and they use any news possible like this to mark the start of the bear market. However look at how many times in the past there was some event and people assumed the stock indices topped and they kept going higher and higher anyways.

Just because a coin is fundametally good doesn't mean it will have a high price. And the same is true vice versa. These days its more about marketing than fundamentals. Use ADA for example. Look what happened last week and why does it have such a high market cap. The reason is due to marketing. Same with coins like TRX and such. They have very good influencers and people rush to buy the coins and they have a high price.

This is why you see tons of amazing projects however they just don't have the market cap because they dont have any money to be spent on marketing. And usually without funding they might die off since no developer wants to work for free.

In the real world this is also true. For example take Tesla. Why does it have such a high market cap when their cars are poorly manufactured. There are many other EVs that are better than Tesla but people still buy Tesla anyways. They got poor panel gaps, there are no parts availability and such.

Lately there hasn't really been any sense. The latest news was the El Salvador launch and Saylor buying more BTC. But that was like what, a couple of weeks ago, which is months in regular stock market time. The reason why bitcoin is doing down now is because the stock markets are getting toppy. The major stock indicies are about a break short term support and might go in for a deeper dip.

The reason why this is important because there is correlation between stocks and btc again. The stock market had a strong sell-off and most likely with covid returning, there might be a deeper pullback, at least until the end of September and most likely bitcoin will follow suite.

Yes and most likely at September 13,2021, 04:00:00 PM, he figured it out by doing some reading on the pool website. And yet there are still people who keep bumping this topic up for no reason.

This is very typical during bull markets. Somebody makes a new account, makes a thread called something like "How do I mine BTC with my iPhone" and makes a 1 sentence post, and never returns but the thread has over 100 posts, with people saying the same stuff over and over again.

I think there needs to be some moderation for low quality threads like this.

There is no compute mode option with the AMD drivers if he is using Windows 7. The option is there for Windows 10, however for Windows 7 AMD never included that option. If he wants to use RX series GPUs and Windows 7, he needs to use the robinh00d drivers.

My advice for the prior post is, you need to install some old AMD driver version from like 2016/2017, and then go to your display drivers and click on update driver and point to the robinh00d directory and it should install. Sometimes it freezes but 5-10 minutes later it should be installed.

You might need to do this for every GPU inside your system. However keep in mind that you got a max 4 GPU limit under Windows 7.

I don't know if you are doing this legally or not legally however there is barely any profits these days from CPU mining, well unless you got access to some high end gaming chips like the Ryzen. If you are doing this illegally at some school or work, its really not worth the risk of getting fired to make a few pennies a day.

The only type of mining thats decent aside from Monero is GPU mining which you most likely can't do because most workstations dont have high end gaming video cards. People tried doing this in the past and they ended up getting introuble by their employer. Some guy even did this on government systems and got charged and fired for doing so.

So my advice is not to do this.

It was easy making money in the last 3 years or so because we came out of the bear market from $3K. However the past couple of months, its been difficult and its not because we are in a bear market but because we are trading sideways. The real money in the last few months was in the DeFI and NFT. Thats where the Tik Tok millionaires were created, not by trading bitcoin or ethereum.

The reason why you are losing is because there is chop and its hard to tell which direction bitcoin will go. It was easy before because all you had to do was long and you would of most likely had a winning trade. However right now its hard to tell what will happen. I am hoping that $42K will hold as support but I am also worried about $50K being strong resistance. So until we clear those values, we can't be sure which way the trend is at the moment.

I wouldn't bother trying to recover your BTCP. That coin back in early 2018 was big, it pumped like crazy at launch. It had a price of like $50 or so, then after that it basically went down hill. Right now its priced around $1 or so. So I am assuming if you didn't sell at $50 because the value was low, then most likely you won't want to sell it at $1 either. The chain still seems active, so you can always just send your coins to an exchange to sell.

Ethereum obviously is the one that went up the most since 2018. It peaked at $1400 back then and look at the price we have today. So this one is actually worth recovering. The other 3 coins, SIA, DCR and MONERO are pretty much where they were back in early 2018 or so. So if you never having lots of those coins then it might be worth the hassle to recover the wallets and send to an exchange to sell.

What is this? Elliot Waves? From most of the TA that I used in the past, Elliot Waves was the least reliable one. It looked good when trading in hindsight however you have no idea which wave you are currently in the present. You might react too early or too late and the trade won't work out.

I think BTC will trade sideways for most of Sept and in Oct/Nov I see it making a big move. It will either be up or down, I don't see it trading at near $50K for long. $50K is still a great price and if it doesn't move soon, alot of the people who bought in the $20-$30K area will take their 100% profits and sell and move on to something else.

PIC algo? Is that a typo? Haven't heard of it. Did you mean POS. Because a few years back they were suppose to switch to ProgPOW and basically after months and months of debate and going back and forth. And after hundreds of thousands of dollars wasted on coding, developement, testing and audits. They didn't go along with it.

I dont' think they will switch to any algo. They were going to switch and many of the ETH maxis got upset that they devoted time and money on switching the algo when they should of just moved to POS. Their reasoning was that ASICs weren't a threat for a 51% attack and they left it at that. SO unless there is some fast ASIC that comes out, they wont switch the algos.

If I had to rank all the ASIC companies I used in the past I would do it like this

1) Spondoolies
2) Avalon
3) Gridseed
4) Bitmain
5) KnCMiner
6) CoinTerra

Keep in mind, 4 of those no longer exist.

The Spondoolies had the best build quality. It was pretty much military grade. I think its why they didn't make it. Because they couldn't keep up with Bitmains cheaper build quality and price. I remember back in 2015 when there was a price war with the SP20 and the Antminer S5. They basically had to sell the SP20 at a loss due to Bitmains price cut.

I agree with you however don't you think with the way things ended up that we might be in an 2013 repeat scenario? Where we peaked in April and traded sideways and bottomed in July and then started to pump in early Oct and blow off top in Nov? Seems that even the months are perfectly lining up.

I think if we were to crash and enter bear market we would of been somewhere in the $20's by now, however the $28K support seems to have held. I think most of the retail market is in the NFTs and DeFI projects and when the whales start to sell where do you think they will go? Sell for fiat which has crazy inflation or sell into ETH or BTC.

Just my 2 cents.

It seems that bitcoin is becoming correlated again with the stock indicies. You can clearly see whenever the stock market has a sell-off so does bitcoin. So you need to consider this. Generally in the stock market, Sept is usually a bearish or sideways month. So bitcoin is generally trading neutral in September. If you look at all the years since bitcoins creation you will see that Sept is not a "very bullish" month, its mostly a doji or small candlestick.

The months which are important are going to be Oct-Nov. Usually that is when Bitcoin has a great month. And there is speculation that during the Summer, alot of companies put bitcoin on their balance shit and these earnings will be coming out at around the same time. So if BTC is to make a new ATH, it will most likely either be in those months. If it doesn't then most likely it'll trade sideways for the next 6 months or so.