Everybody wants to buy bitcoin at $10K, right now. However I guarantee you that if bitcoin was crashing and eventually reached $10K, nobody would want to buy it. They would say, why buy at $10K when you can buy at $5K.

This basically happened twice in the past. When BTC was $20K, people wanted to buy it at $3K. Then when it crashed down to $3K, people were calling for $1000 bitcoin. It never happened. Same with March 2020, bitcoin was almost $10K, and then started to crash down below $4K. You had many opportunies to buy in mid $3K. But people were calling for 3 figure bitcoin. Instead people sold at $3.5K instead of buying.

So even if it goes to $10K, nobody will be buying it except the institutions.

How many GPUs were you running on the Pentium D rig? I ask because in the past I bought one of these and wanted to use as a mining rig however I couldn't get any more than 4 GPUs to run on it. Even if the motherboard supported it.

Basically got the rig with a cheap motherboard but good CPU, replaced it with a better motherboard with more slots. However no matter what I did, I couldn't get more than 4 (or 3 don't remember exactly) to run.

After much investigation it turns out that the Pentium D or the North/South gate chipset on the motherboard just can't support too many PCIe lanes. So hence there is a limitation when it comes to mining. Sure it can mine with 1 or 2 GPUs however anymore than 3 GPUs and you run into issues.

And there is the issue with the huge power consumption of those old Pentiums. I remember from my old days of the Pentium 4 and how the fan always ran on max when you were doing light browsing. It was a huge power hog.

Options trading is nothing like Futures trading. Futures trading is more or less trading on margin with higher leverage. If you short BTC your losses are unlimited because BTC can go to infinity and you can't control how much you lose unless you use stops.

Options trading when you buy the calls or puts, your exposure is limited to the price that you paid for that option. So BTC can go to $100,000 a coin and your max loss will be what you paid for that option which is $250 or so. Only way how you put in extreme risk in option trading is if you sell call options because then you will have to cover the difference if the price sky rockets. Similar to what happened with the $36K options back in Dec expiry.

Yes I agree that its bullish when there are more coins leaving exchanges because there is less supply to sell and might result in higher prices however there can be many reasons why coins are leaving exchanges.

Back in the March 2020 crash, many coins were sent to exchanges and the price of BTC went up anyways. So this indicator doesn't always work keep in mind.

Another reason why can simply be because if you owned 0.25BTC back when BTC was $10K, it was only $2500. So its not that much. However that 0.25BTC is now worth over ~$13K. Basically you can get a decent car for that price. So people most likely bought hardware wallets and withdrew to keep their funds safe.

Well if you really believe that below $10K will happen then do this.

Make an account on Deritbit, go to the Dec 31 2021 options, and buy as many of the $12000 Puts as you can. Currently its bid/ask is $180/$360. If you use a limit order you might get a fill for $250 or so. This is based on BTC price of ~0.005 BTC.

Now say you are correct and BTC hits $9000 temporarily. Your put option would be worth $3000 at least at one point. Most likely depending when this happens the premium might make it worth ~$5000.

So with a $250 investment you would 20x your money. However if BTC doesn't go below $12K before the end of the year you will make nothing.

Just like Vann said, its not the difficulty, it that in the past there were periods of high transaction fees which you got a part of. There were times when the total miner reward from transaction fees was more than double the block reward.

So at certain times you were getting paid 3x as much. Now that the NFT and DeFI craze has died off the fees have levelled off and hence why you are making less profit. The difficulty is only part of the reason your profits are lower. The rest is how much the network is conjested.

The max pain is around $44K however I think we are way too far away from that price to even reach it so it might not have much of an effect this time. If the max pain was more like $52K then I would assume we would trade in that range before the options expire however we are way too far out of money at the moment.

Either way, there are lots of put options in those lower prices and if there is a long squeeze we might get a gamma squeeze as a result. The market makers will need to hedge by opening shorts in case those far OTM puts become ITM.

Basically same thing happened with that $36K option back in late last year. Nobody knew it would go close to $36K and as price kept going closer and closer the market makers had to hedge by buying bitcoin.

Back before hardware wallets or Electrum or MyEtherWallet I just did it the old fashioned way and used a paper wallet. Went to that bitcoinaddress website, saved it offline, doubled checked the hash on the offline computer. Then I created about a hundred different addresses, made each private key encrypted with a password that would take millions of years to crack. Bought a $20 printer at Walmart, printed out a few copies, then destroyed that printer office space style.

Then would send everything to one address, and when I need to spend it I would send to wherever I need to send it and the change would go to the new address. It was very time consuming however I didnt mind because I knew it wasn't possible to get hacked in any shape or form that way.

Years later I realised that I didn't need to keep destorying $20 printers when the private key was encrypted anyways. But the printer was cheap. They were like $10 each plus a $10 environment fee.

Those were the good old days...

I think if its PCIe 1.1 it will work. However if you got a really really old motherboard and its the first generation of PCIe 1.0, then it won't work. It says backwards compatible however I've had issues before in the past.

I forgot which card it was but the GPU worked on all motherboards except one at my place of work. It was a very old, maybe Pentium 4 type of computer and basically as soon as you added the GPU, the fans ran at 100% and didn't post boot or anything like that.

I knew the slot worked because some other cheap GPU worked but the newer generation of GPUs wouldn't work for some reason. So keep in mind that it needs to be 1.1 at least because the original ones won't work with newer GPUs.

That photo fails to include the most common reason of why many traders end up blowing their accounts and its due to high leverage. Sure you can take some losses by overtrading or by being emotional. However the most common and fast way an account gets blown is due to high leverage.

In crypto we got crazy leverage up to 125x even and it can make an account evaporate in an instant. Even many Forex brokers in the past had lowered their leverage because too many people were losing money and forex barely moves on a day to day basis, crypto is completely opposite.

Its easy to get suckered in trading with a $1,000,000 position with only $10,000 in margin.

It takes a while for a hardware wallet to arrive, plus you have the issue where your private information can be stored on a database that gets hacked later like with Ledger.

Your best bet is to download Electrum. Find an old laptop you never use. Rip out the Bluetooth and Wifi module from it. Install Electrum on both your online and offline computer. Use the old laptop to sign your transaction. The online computer will only be a watching only address.

If you don't have BTC and only ETH, then you can do the exact same thing with MyEtherWallet. Just download it and run it offline and use the "Offline Helper" tool to create offline transctions. You can do this on ETH and any of the tokens. This way your crypto will never get stolen.

You would be surprised but the 7970 "might" sell for close to $200. Basically eventually someone will pay that price. I am seeing R9 270X go for $100 which was the going rate back in 2015 after the LTC scrypt ASICs came out and market was flooded with these GPUs.

Why would someone pay $200 for a GPU worth $50? Well if you look on your local Craiglist or FB Marketplace there are almost no GPUs going for that price. Most are around $500 and there are many which are >$1000. So all of a sudden a decent GPU for $200 doesn't sound like a bad deal. There really is nothing out there.

90% of all the GPUs on Craiglist are basically flippers. Only 10% are actual used second hand GPUs, however maybe 5% of those are bargain GPUs under <$200. If someone really needs a GPU its the price they will pay.

1 year ago? Yes the 7970 was useless and worth maybe 30 Euros.

If you wanted BTC back in 2013 or so you either had to go to a Bitcoin ATM or just buy a GPU and mine some LTC, or get an old BTC ASIC like an Antminer S1 and mine some that way. There was localbitcoins but you had to be in a really popular city to find people in your area who buy and sell BTC.

Another option was Paypal. Later they restricted this but in the early days you could just rent someone's hashpower and they would mine BTC for you and you would pay them by credit card. Basically you paid $100 and you in return got $80 worth mined back to your account. This was good because all you needed was a Paypal account and a credit card.

Selling crypto back to fiat was alot more difficult. Most Bitcoin ATMs were just one way and there was no way to sell your BTC back for fiat.

Seems that 80% of people in here did nothing but read the topic and didn’t read the entire post. He is not borrowing money to buy crypto. He is just borrowing fiat and taking that fiat to refinance it at a larger interest rate that he is being charged.

So he borrows money at 5% and gets paid 10% by some crypto interest and he pockets the difference. There is no risk here. He doesn’t care if Bitcoin goes up or down. His only risk is counter party and hopes that his exchange doesn’t get hacked or his computer doesn’t let some hacker in.

So there is some degree of risk but not as bad as speculative trading. This is why in 2017 most credit card companies banned people from buyin crypto with credit card because they might default on the loan if price drops.

I am not saying that one YouTube channel can change the long term price of Bitcoin but it can change it on the 1M charts.

Last week I noticed that he stopped showing his stop losses, I think in one video he just cut the stream and closed his trade behind everyone’s backs.

But when i first made this thread I noticed that whenever his stop loss is Public, usually there is some whale that attempts to run his stops and his followers.

His position might be only 5-10M but his followers probably got another 50M across different exchanges. So it’s not that difficult to tip the dominos once they start to fall, which we observed a few times in the past.

Keep in mind this is all leverage futures trading so basically anyone with $10K in fiat can open a $1M position with very little margin to put up. Hence it doesn’t make difference long term but can  in the short term.

I have relatives like that too and I would just say I don’t give investment advice. Basically back when BTC was like $3K back in 2017, people asked if they should buy. I told them no and wait until it goes back to $1000 and buy then because $3000 is too risky.

It went up to $20000 and they were upset I stopped them from investing. Then when it went from $20K they invested at $16K and obviously we knew what happened next. And they were still pissed at me that it went down to $6K and they sold at a loss. They are mad because I told them not to buy at $3k so instead they bought at $16K and ended up selling at a loss at $6K.

Best is never give any investment advice on cryptos.

I would not say it’s a long term investment because the profits are very hard to predict and can change on a weekly to weekly basis.

You can’t just spend $2000 on a rig which will make you $5/day and expect to make the same amount of profit a year from now. There is something called difficulty which reduces your rewards when more people are mining and there is the price of the coin itself which can easily double or halve within a few months.

Yes generally the weak-point is the cheap SATA connector on the riser. Its badly built and its what usually ends up melting first. In my opinion when they include these SATA connectors and knowing that people will pull more than 50Watts from it, they should at least make it more robust. I think the issue is that its not a tight connection as a retail SSD or HDD. Those are usually hard to connect and disconnect.

The SATA connector to risers is not as tight and you can feel that there is a small gap which will lead to a bad connection and obviously something end up melting. Even if the connector was good I would just avoid using the SATA connection all together. Molex or PCIe is much safer and don't need toworry about anything.

Ahh my bad. I misread this post and didn't realise it was a laptop. I heard 6700xt and assumed it must of been a discrete GPU inside a desktop. And I think you are correct. There won't be any onboard graphics that way.

Even if the CPU has a built in GPU, most likely the mainboard won't have a HDMI connector on the laptop to save space. Because why would anyone want to use onboard video when you got an 6700xt GPU instead.

Basically like the previous poster said above, only way is to lower the intensity and should work.

It might reach $288K or it might not. The important thing to do is take profits from time to time. Imagine if back in 2017 you were waiting for $20K which never actually happened, price went to $19.7K or so. You would of missed out.

Sure if it ends up going to $250K its unfortunate if you sell half of your BTC at $50K or $100K however keep in mind that its easier for bitcoin to do a 20x going from $1K to $20K than it is a 20x going from $20K to $400K. Look at the overall market cap.

Basically its reaching the point of where its almost unsustainable. Imagine how much money it would take to support a huge price of like $250K bitcoin.