Can you even buy new RX 580 these days? Pretty sure they stopped production on those a long time ago. Maybe some old stock here and there however generally you can't buy RX580 anymore. You guys do realise the RX 5xx came out in 2017. So over 4 years ago. These are very old GPUs by todays standards.

I am sure you won't get ripped off by buying from China. However keep in mind these aren't really any decent deals. Their value will tank once mining is not profitable anymore. If you buyer a new GPU at least it'll hold it value better.

I remember selling these second hand a year or two ago and the most I could get was maybe $150 for them.

Most of the GPUs these days... if you find any in stock you can safely assume its LHR. This is one of the reasons why its been easier to get GPUs. Combined with the lower profitability the last few months or so. Things have been less hectic and been about to finally get GPUs.

The downside is that its mostly LHR. However since you bought it at Newegg you can always just return it. If you bought it from a scalper and later on found out its LHR then you are out of luck. Either way... LHR or not its still pretty profitable these days even at almost 50mh/s. Pulling in at least $5 a day or so.

So as long as the difficulty doesn't get out of control, its a decent investment. Seems like ETH might break the ATH sooner.

80% fan speed is pretty high. If you have to set it this high to prevent your rig from overheating then you are better off positioning your GPUs further apart or get a big box fan and point it at your rig. If the fans don't do decent cooling at <75% fan speed, then going any higher won't do anything except burn your fan bearing and then you will need to replace it.

My advice is get a box fan and point it in the middle of the rig, if that doesn't work then get another one and get a push/pull configuration going and you are going to get some pressure and good airflow. Make sure your window is open and you got good ventilation in your place.

No that is even a worse idea. Why?

Because for one there are hardly any CPU mineable coins out there. There is Monero however you only really make decent profit with it if you got an Ryzen processor. Most retail regular computer users only have laptops OR i3 processors not top of the line CPUs.

And even if you actually got somebody to mine, it would not be efficient mining thru a web-browser due to the limitations of the browser. It would be hashing at maybe 25% the speed. There would be no profit what-so-ever for anybody.

So I guess the rumor that we heard back a few months ago is finally true. What is the MSRP for this GPU like $3000 or so?

I think the bigger issue will be supply. How many of these GPUs will Nvidia actually make? I have a feeling they are just producing this for marketing reasons and not really to turn a profit. After R&D they are probably going to lose money on ever GPU sold.

In the end... I don't think Nvidia releasing this GPU will make the difficulty rise too much. The bigger issue miners got right now are those ASics which are being released that hash in the Gh's and are crazy efficient compared to GPUs.

Investing in futures will make you less money with the same amount of risk pretty much as buying spot. The only reason to invest in futures is if you are actively trading it. Futures at least the Perps charges you a funding fee every 8 hours, usually its 0.01%, so each month you will lose about 1% of potential profit if you go long on the futures.

You can just long the dated futures and not perps however its the same idea. They usually got a premium and will settle at the index spot price, so you are losing a little by investing in the futures.

So unless you can actively trade bitcoin every few days or so, just stick with the spot market.

I've turned them always off because I know that eventually one of them would of crashed and I would of assumed the worst and create anxiety during my trip. These days you got security cameras and everything so you can actually see your place not burned down.

However maybe if it was in the winter, I might leave it running however not in the Summer where its difficult to control the ambient temperature. Depending on the outside temp sometimes I would need to adjust fan speeds or even shut some rigs down. The weather changes drastically here and it would be too much of a hassle to leave it running without any issues.

When someone talks about futures, its usually leveraged trading. Usually much more than margin trading which is capped at maybe 10x, futures trading is up to 125x or so. And most people trade perps and not the actual futures, so the expiry date has little to do with it.

And by 50:50, I don't know what he means either.

Whether you are trading at 1x spot leverage or 5x or 10x, you will either make money or lose money with the same risk/reward. Actually with high leverage you are at a loss faster because you still pay fees on the higher leverage.

Well if you will be rich and get a lambo when BTC hits $100K it means you are pretty much rich already at bitcoin being $50K. Unless you are using crazy leverage and buying bitcoin futures hoping on 25x leverage your main position will hit $100K then its a different story. Dont buy bitcoin on leverage, a slight pullback and your investment will be gone completely. If you buy on spot you can never get liquidated.

Will it hit $100K? Who knows. A month ago people were calling for $10K bitcoin and now they are calling for $100K, so most likely neither figures will be hit. Maybe it'll go to like $99K and then go back down since everybody wants to sell at $100K.

Bitcoin won't make you rich to be honest... not anymore unless you were an early adopter. It might 2x from here and thats it. Maybe 3x but its stretching it. Look at other coins like SOL or look at NFTs. If you traded those you would be super rich.

These days it would be VERY difficult for a new pool to succeed. Most pools are very competitive and charge low rates of 0.50-1% or so. Even if your pool was 0.25% in fees your issue is you will need decent hashrate or nobody will use your pool.

If your pool has no miners then the chances of finding a block are almost impossible. So miners won't join unless there are other miners out there. The way how pools grew is when the coin was new, and there were little or no pool and miners had no choice but to join.Then the pool grew and got more and more popular.

But starting a mining pool from scratch with a fairly high hashrate coin.... forget about it.

Yeah there are a few people in my social circle that heard that I am in crypto. And every few months or so, usually during bull markets I get texts and calls about them wanting to join in and get involved.

It usually goes 1 or 2 ways.

First one is some guy who says they got like $10K and they want me to turn it into "only $100K" doing something crypto related. Like making 10x gains is something that is easily done.

Another is someone who wants to mine. They are mad that they can't use their Smartphone, Laptop or i3 desktop. They ask if they invest $1K in "crypto hardware" how long until their $1K investment becomes $100K?

Usually conversation ends in them thinking I am lying to them and keep it a secret to reap all the benefits or they discover that crypto might not be a "get rich quick" scheme.

So they started in March 2021 and made over $1000 mining on an old gaming computer? I don't see this adding up.

How much were old gaming GPUs putting out back then? I would say max $10/day. And this is at 30Mh/s. And this is only on the days when the fees were crazy high.

So I don't see how it could of made them over $1000 in a single month, unless they were hodl'ng all those ETHs and sold at $4.4K later in April.

Next week I have a feeling we will get alot of newbies joining the bitcointalk forum and ask "How can I make $1000/month mining on my old gaming computer?"?

I think they make these articles because it generates alot of views and they get lots of readers. However they really need to fact check their stories more accurately.

None of the indicators will help you trade really. They can be used for confirmation if anything. There are many popular ones like moving averages, horizontal support/resistance, RSI, MACD, etc. However if you rely on those you will end up having more losing trades than winning. The way you use them is if the trend is in your favour.

Then what you do is you use something such as moving averages and you enter at the moving average on a pullback. However you need to have more than 1 confirmation before you do this. You cannot just always enter when it hits a certain moving average or you will get chopped to bits. For example if bitcoin is in a strong bullish trend AND making new ATH after ATH, then you can use the moving average to get a good entry. Don't use the moving average to take shorts in a strong bull market and vice versa. You will get signals but they won't work and you will lose money.

Since everybody is always expecting a parabolic blowoff top or bottom, usually the opposite will happen. Back in 2018 look at how many people kept thinking when it dipped below $6K it was a parabolic blowoff bottom and it would reverse, instead it slowly went down to like $3500 and stayed there for a month or two before finally reversing. I think it was the slow bleed to got many people impatient and got them to sell.

With bitcoins top? Who knows. Since people are expecting >$100K sometime in Oct/Nov most likely it won't happen. Its also possible that BTC might have a double top at $65000 since nobody expects that to happen. Usually we form a top, and then when we bounce we go to the 0.50-0.618 fib and then we resume the downtrend, however if we topped at $65000 many would be caught long if it was the top because nobody expects bitcoin to have a double top.

Emotions are the reason why most market participants don't make any money. They are attached to their money and don't want to lose it. The issue is that its this fear which makes them take profits early OR take losses way too late.

If you trade demo or if you back test some strategy you will see how easy it is to make money using a simple method. Whether its horizontal support/resistance, moving averages, RSI, Fibonacci, etc.

However when you put real money into the game, all of a sudden it becomes difficult. Why is that? Well its because money is involved and that is what is causing fear and greed for most people and thats how they lose money.

The best leverage size not to get your Bitcoin exhausted is 1x

Sure it seems temping to be able to 100x your initial cost and if BTC doubles in value you not only doubles but goes up 200x.


However keep in mind that most people end up liquidated trading this way. Most pros use maybe 5-10x leverage. Many use the leverage just as a counter party risk since they can keep less funds on the online exchange.

As a security precaution I never used any mining software or coin wallets (except
Maybe Bitcoin core or electrum) on any of my PCs for this fear.

Back in the day there were tons of coins created and impossible to tell which was legit or not. Many of the new coins had virus in the wallets or some miners had viruses in them also.

Even these days you get some newbie who posts a link to a virus infected software promising LHR GPUs nonLHR performance.

Wow. I think something must of changed in the new ETC algo because these figures would of been very difficult to achieve back in 2016.

I had a bunch of the r9 290 and if you undervolted them to the min it still pulled 200 watts while hashing at 25-26mhs. You could give it more juice and get it to hash at 29-31mhs but it consumed way too much power.

The 7950 all pulled at least 200 watts, especially when the DAG was low and it hashed > 20mhs.

Add in your 550 plus the Mobo+cpu+fans i would way over 400 watts.

There are CPU mineable coins but you need a dedicated miner software. Using a browser is going to be very inefficient.

Reason being that the browser has too many things which prevent it from getting the full speed. So if you got a decent CPU you can try and mine XMR which is monero.

However if you are trying to go to some public library and open up a bunch of sites pointing to your mining site then you won’t be successful. You will only get in trouble.

Trading is one of the only professions where you can't set targets, because its not in your control, its up to the markets control. Trading is not like sales where you set a daily or weekly target of how many sales to get. Your trading performance matters how the market is doing during that time period.

In a strong bull market like in March-April of 2021 it was very EASY making money. When the market was trading sideways like for the last few months, there were less opportunities and it was more difficult.

Setting targets will only lead to losses as you will be forced to take trades that aren't there.