My advice, before you go all-in. You really should wait and see what happens. Sure $30K sounds like a steal when we hit $64K back in April however imagine buying everything now and then we go down to like $25K or $20K or even $15K? What will you do then. You can't buy more because you are out of money.

Same for alt coins like ETH. Look how badly these coins corrected back in 2018. ETH went to less than $100 at two points. And BTC went to the mid $3.5K. Right now everybody is bullish however this can quickly change with how eveything else is developing. If you really want to buy then DCA and see what happens. Worse case you buy a little higher but you got confirmation that we will hit ATH again rather than buying dips after dips and losing more and more money.

You might not realise this but most newbies have no clue what POW or POS is. Some even have no idea what difficulty is. They are just doing this to make money and nothing more. As long as their generating a profit day after day, they will keep mining and upgrading their farm when the hardware becomes available. They are not worried about ETH crashing to $500, or ETH difficulty doubling due to new ASICs or ETH going POS.

Mining is not the only sector. Look how many people are sending their pay checks, life savings, taking out loans and buying stock options for GME or AMC or buying meme crypto like Dogecoin? They don't really care about the companies such as GME or Doge or how it works. They just want to make money.

Until there is a massive capitulations, even larger than the crash to $30K, then this will keep happening.

I think mining is considered passive income. Unless you got some mega farm where you need to monitor 24 hours a day then the original setup might take a few days weeks to sort out but as long as your rigs aren't crashing, you are pretty much doing nothing to make that money.

Once in a while you might need to reboot some rigs or change some part like a riser or PSU. However you are pretty much making money in your sleep. This is passive income. Sure its possible it might not be profitable in the future, but you just turn off your rigs and wait. If it doesn't improve just sell all your gear and move on to something else.

There were massive amounts of tether prints in the last few days so you need to ask yourself this. Why is there so much capital going into crypto if there is about to be a bear market?

I don't think people are printing tether, then using that tether as collateral to short btc or other cryptos. There are easier ways to accomplish this such as with bitcoin future. Right now its hard to tell where its going to go.

I think it will go higher but might not be until it maybe retests the $30K low, and it will be interesting whether that low holds or not. If it doesn't then bitcoin will have a hard time making ATH anytime soon. However it might be a repeat of 2013 where we peaked in April and then again in November. And when we broke Aprils high of $250 we went to $1100.

Seems its 50/50 right now. A month ago 95% of people were ultra bullish and right now there are one hand of people who still think BTC will go to like $100K and the other half think its going somewhere between $8-$20K. Very hard to read the sentiment right now.

I think if we do go to like $20K then its confirmed that $65K was the top. However if we range trade in this area for like a few months and then we finally break $42K then I can see us going to $100K.

If we break $42K sometime this week and then next month we top at like $50K and head back down, then I think eventually $30K will break and we'll start a long bear market where we will reach maybe the 200 WMA which is like $15K right now.

Don't you guys typically get rolling black-outs from time to time. This is hardly due to the fact that its very hot there and in the Summer everybody turns on their air conditioner at the same time and there isn't enough load to support all this power. At times it gets really bad and you got these blackouts from what I hear.

From what I understand you guys can't use nuclear power because you have too many earth quakes and its way too risky. I wonder what will happen in a decade when every vehicle there is an electrical car.

Yes in hindsight it looked like a great trade however it’s easy to see after the fact. How many people actually trade this method? I think it’s just a coincidence that it worked.  If you pull up different charts for stocks or other alts you will see tons of areas where it’s a similar pattern but it doesn’t work.

Why did it go down? Was way too overextended in my opinion. Look at how many people you know in real life that are investing in crypto and who have no financial experience. So many people spent their life savings and maxed out credit cards buying coins like Doge. We knew this would happen only didn’t expect it to happen at $64K, maybe higher at like $80-90K.

The fact that it failed to stay above $40K is alarming. Another issue that is alarming is that whenever there was bullish news released Bitcoin either didn’t pump or it pumped by got faded. This isn’t a good sign.

I don’t think $30K will break however. We might trade sideways for the next few weeks or months and break $42 K then.

Right now I wouldn’t be in any position. There is tons of chop now.

Just because he bought at $33K doesn’t mean price will stay above that figure. Saylor average is like $26K or so.

It can go lower than $33K and Tesla can hold the bag for a few years but most retail traders cannot hold this long especially at a loss.

If it goes very low they can buy more to average down, most retail traders probably can’t however. Saylor is going to be a bigger issue if his debt is called and he will need to sell.

It might of been the bottom or not. Keep in mind many in 2018 assumed $6K was the bottom and look what happened, the bottom was $3K instead. There was much much more fear at $3K than at $6K even though many people were 100% it was the bottom.

So we will see how the next few weeks go, however there are tons of people who are holding massive profit from buying at $19.5K and the market might come and take those profits away from them. Just like the market took away the $3K entry price of the people who entered in early 2017.

This is how the market cycles work.

The coin is stable now because the holders dont want to sell because they are most likely sitting at a loss if they bought last month and the shorters don't want to short because they are scared of another Elon tweet regarding Doge.

However I gaurantee you thats in the next few weeks its going to be nothing like a stable coin. Keep in mind there is currently like almost $200,000,000 per month of miner reward Doge released into the market, these are most likely going to get dumped by the miners.

I think California and Hawaii are one of the worst places to mine. Usually when there is a massive price corrections its the miners from these locations that have no choice but to power off their rigs.

Currently unless you pay more than $0.60/kwh you are mining at a profit. However it won't that much of a ETH correction or hashrate spike to render mining unprofitable for some. In Europe in certain countries mining is also expensive at like 0.40Euro kwh.

I also dont think you should mine in California especially during the Summertime when there is a shortage of electricity and they turn off peoples power due to shortages.

I do maybe 2 or 3 transactions a year. If I did transactions weekly then I would upgrade to either a hardware wallet or newer Electrum. However for someone as paranoid as me. Getting a hardware wallet just adds another layer of security flaws. Such as what if device is tampered, what if your home address is leaked, what if there is some vulnerability thats discovered one day.

To upgrade Electrum you need to make sure the online wallet is genuine, then offline wallet, then most likely I need to upgrade Ubuntu because version 16 might not support the newer dependencies, then I need to download the dependencies and verify each dependency make sure its not altered. Alot of work.

These old versions still work. All I do is keep restarting Electrum until I connect to a phishing node to get the up to date transactions. Then I make an unsigned transaction on the online computer, move it to offline by taking a photo with a digital camera from the year 1995. Put that SD card into the offline computer, load electrum, make sure the destination address, source address, timelock block number, are all correct, then sign the transaction. Then... take a photo of signed transaction with iPhone, and then before I broadcast it, I decode it, make sure the addresses are correct, if they are correct, I broadcast it. I can't broadcast it with electrum because it gives the phishing message. I also know of the RPC attack however, I don't leave electrum running in the background.

Thank you all that replied, gave you all merits for your help.

I think the peak will be around the peak of the stock market. The stock market should peak when Covid is behind us. Which seems like in the next 2-3 months or so. No more stimulus and everything returning to normal. The issue is that Biden wants more and more trillion dollar stimulus even after covid is said and done.

So this rally could continue for years however at a much slower pace and BTC could also follow. However if the volatility of BTC is low most people will probably sell it and leave. Too many impatient people out there in stocks and crypto these days. GME is mooning again but I am pretty sure many already sold earlier because it looked like it was going nowhere and now it might break the ATH again and go to like $1000 or $2000 and bankrupt more Hedge funds.

I tried setting up some type of API where if Elon tweeted about Doge, then it would automatically buy however you would be surprised how many people out there are already doing that. And honestly most of the time ,the entire move completely retraces. It seems its better to just short the rip, put in a tight stop and short it back down to where it started to rally from.

This is a guess common. Basically if too many people do the same thing then obviously it won't be profitable anymore and this is pretty much what happened. I am surprised that his tweets have so much power to be able to make the market cap change in near seconds by his tweets.

The issue these days compared to say 2015 with GPU mining is that there aren't really that many POW coins out there, especially ones without ASICs. After ETH becomes unprofitable what else is there?

You can mine ETC however a few months back it was very unprofitable, I think it net like a quarter a day with 10 cent power. Add a few hundred thousand GPUs and it'll get even worse. Same with all these niche type of small cap POW coins out there. The miner reward just isn't large enough for all these miners to switch.

There is XMR but that is primarily CPU based and most people don't have a large farm of CPUs so I guess that is an option. However if the price drops then it won't help the profitability.

He probably just wants to diversify. Nothing wrong with that. Mining is considered passive income pretty much. You get paid while you sleep. With trading, alot of it is more or less based on luck.

Besides the month of May, everybody made killer gains with crypto, especially some alts like Doge or BNB or some DeFI. However it won't always be like this. Look at how many people got liquidated when BTC crashed down to $30K. Almost a million traders got liquidated. Probably more are sitting holding a bag from buying BTC at like $56000 and ETH at like $3000.

When GPUs will be cheaper? Who knows. Mining profits are lower, so many people won't overpay for GPUs and prices will come down.

I am using a very very old versions of Electrum. On my cold storage I am running Electrum 2.x and my watching online Electrum is 3.0.x. They still work. Rather not go thru the hassle of having to upgrade to a newer Electrum because then I need to upgrade the dependanices and those I also need to verify to make sure they are not tampered with so I rather just leave everything as is. I'm old school.

However wondering if Taproot will be backwards compatible and will I be able to perform any transactions. All my cold storage is on wallet addresses starting with "1" and none are Segwit or Pay-by-script (start with "3"). I rarely do any transactions so this is why I keep this set up.

The only way I see Doge flipping Bitcoin in market dominance might be if BTC went down to like $500 a coin and so did everything else. Then the Dogecoin issuance with miner reward would be low enough not to cause a huge price suppression.

Right now if Doge were to flip BTC, it would need a price of $6/Dogecoin. What you don't realise is that every single month there would be $3,000,000,000 worth of miners dumping Doge alone. There is no way its sustainable. The miner reward is just way way too high. It will not be able to hold that price.

As long as i've been mining there is always demand for GPUs. Whenever there is a crypto bear market and gamers think they can get "GPUs for almost free" it never happens. I've always was looking for opportunities to score great deals on GPUs during bear markets however it never happened.

Only good deals on GPUs were the ones with broken fans since most gamers don't want to deal with replacing fans. However there isn't going to be a time when you can buy a 1080Ti for like $20 because ETH all of a sudden went POS. There are lots of uses for GPUs rather than mining or gaming. They will always be a hot commodity.