The difficulty is down probably because it’s profitability when down with respect to other coins. Generally most POW coins produce similar profits. There are many farms out there that switch mining based on profits and this is usually why you should just stick to mining ETH.

I also wouldn’t hold a coin like this long term. We are in a bear market and many alts are already 90% loss and will probably keep going down. They aren’t a good hold at all.

This crash to $17K had nothing to do with the fed rate hike. We knew last year they would be hiking and why we topped at $69K.

The reason why we crashed was because of Luna failing which led to Celcius failing which led to 3AC failing and causing massive liquidations everywhere. This had nothing to do with the fed.

If the numbers are stable and going down then we might bottom but if we still see rising inflation then stocks will keep going down along with crypto.

It’s all depends on the inflation numbers. Here in Canada we had our May numbers and we were expecting 1% but got 1.4% instead. Basically a surprise and means that fed needs to be more aggressive on their hikes. We might get a .75% hike next.

This isn’t bullish for stocks or crypto. If you want a bottom or some rally in stocks or crypto you need to see inflation numbers go down first and then you go long.

So if we see deflation, that might be the bottom signal.

Yeah the r9 280x was a killer GPU for Ethereum. I remember back in late 2015 and early 2016, you basically made 1 ETH per 280x per day. Keep in mind ETH was like $1-5 or so back then.

However difficulty was low, DAG was low, nobody was mining it because crypto seemed dead at the time. Those who believed in it made it out big.

Especially if they also kept their ETC which happened after the DAO hack. ETC also had some great runs in price.

How will this be performed exactly. From what i understand when the POS merge is finally decided, they will release an update and that update will have a block number where the fork will take place. All pools, exchanges, clients, wallets will run that new version.

So miners who don’t want POS will stay on the old version, there will be a split in the network when the block number is hit. However the issue will be the difficulty bomb, eventually it will slow down the network. So some devs will need to code it out and then have everyone upgrade their clients.

StETH is still trading at a discount. Basically it’s around $1170 while ETH is around $1212. Basically stETH will equal exactly ETH however it’s only post merge and somewhere like 6 months ago.

So you could basically buy stETH open a short on ETH and wait like 9 months and get like 4-5% gain. Basically not really worth the risk actually.

Either way, unlike UST it didn’t depeg too much. But if it were to go to 80% of ETH then perhaps It’s worth buying if you want to hold ETH long term.

Basically if you are just doing short term trades or only trading one pair, you can use BTC or any other coin as collateral. You will see your liquidation price and everything.

The issue becomes if you are trading different pairs because your liquidation price will be hard to calculate. Basically if all your pairs go down in value you lose money and if Bitcoin goes down also you lose some more. And your liquidation will come quicker.

So in these cases you are better off using stablecoins for collateral instead.

I am pretty sure he is just talking about selling AMD branded cards instead of aftermarket companies like MSI or Gigabyte that usually have better cooling.

Generally there is nothing wrong with going with an AMD branded card. You might get a loud cooler blower fan instead of a quieter higher quality copper heatsink with multiple fans but the build quality is very good and they rarely get any issues.

And another bearish thread calling for $13k or $10K. Seems every thread these days on bitcointalk and crypto Twitter is predicting how Bitcoin will crash below $10k.

This sentiment is completely opposite of even 1 month ago when we were at $30K. Back then nobody assumed that $20K would touch or even break. People were still bullish and now everyone is bitter and bearish.

Honestly this forum is completely opposite of what it was 6 months ago.

Back then people weren’t sure if it will top at $100K, or $250K or $1M. Nobody assumed that $69K could be the top. Even when it topped people kept buying the dip at $60k, $50k,$40k,$30k, etc.

Now it’s complete opposite. People calling for $10K or $13K or even $1K. Everyone is bearish and most likely it means that we are very close to the bottom.

From what I remember AMD GPUs never were selling for 2x MSRP back in 2014. I remember there was shortages and maybe a few scalpers selling for $100 extra profit however it wasn’t like it was in 2021.

Back then you would get alerts when they had in stock for GPUs on certain computer websites and you would buy one ASAP at MSRP it was never marked up.

When shelves were empty, the crypto mining went bust very quickly. By spring there was no profits to be made pretty much. The shortages were maybe 2-3 months long.

I think a great indicator that we might not see $10K and perhaps bottomed at $17K is seeing all these $10K predictions all over bitcointalk and Twitter.

Back when we were at $69K, people were calling for $100K and now at $20K people are calling for $10K. Most likely the herd will be wrong and it will bottom out before that somewhere.

Seems like there is a magnet now at $20K. When we first touched it there was tons of sell orders and why we kept dumping to $17K.

However when it approaches $20K now it seems many are buying Bitcoin at $20K. Most likely it will provide a temporarily bounce. Maybe it was the low, maybe not but either way you need to stay cautious especially what the stock market is currently doing.

Many reasons why the volume was very high.

One of the reasons is that it’s on the weekly pivot level and basically the low of the year. So many people had stops under that area and buy orders.

Another are all those ETH liquidations that took place when all those funds couldn’t keep up their margin payments. Most of this was in ETH compared to BTC hence it took a larger dump than BTC.

2021 was nothing like 2018 or 2014. Back then there was shortages of GPUs but you could still pre order them and get it at MSRP.

You could also get some second hand on Craigslist for a fair price. Many didn’t know what crypto was back then. Now every gamer knows he has some precious GPU and charges arm and leg for it or just mines themselves with nicehash.

Back in 2014 you had to have some knowledge of crypto to mine, these days you just download nicehash and put in your Coinbase address and you are set. No need to learn anything. Back then you had to do your homework and most were lazy.

Yeah I was a buyer at the 200 WMA and so where many people. And I am pretty sure the $20K also had tons of bids in that area. For both of those to fail it means that there was huge supply pressure and just not enough demand.

Last 2 days were stable however it’s hard to call it a bottom yet. We can trade sideways for a while and when the GDP results come out and if it’s confirmed we are in a recession then I don’t see us rallying anytime soon. Especially since the next CPI might be high and fed will hike again.

Very strange to go all short this late in the bear market. Seems like a bottom is fairly close anytime soon. Why place these huge bearish bets right now?

From what I can tell. Since he is shorting banks and energy, those most likely have held up pretty well recently, especially energy. So I guess it makes sense in one way. But I still think that the perfect short was about a year ago and not now.

BTC and ETH and BNB all have a chance at hitting their old ATH however it’s not anytime soon. We had a brutal fall and it will take years to fix this.

What is worse is that inflation is still high and fed will keep rates high and it’s not good for the stock market. So crypto will follow and also fail to rally. We will top but not until things get better.

Don’t take those fear and greed graphs too seriously. They have been at fear for months and it keeps going down. I used it last cycle and price went another 50% before reversing and same with the greed calculation.

If you went by that you would of sold provably at $20K before it hit $69K. The issue is that it can fall further and the extreme fear will only go down by one point or two. And you are sitting at a 20% loss. And it can also go down another. 20% a few times before it reverses.

I don’t think it really matters how long it was used. Would you buy an 6 month old GPU that was inside a poorly ventilated case where the gamer overvolted and overclocked and gamed for like 4 hours a day? Or would you get it from a miner who undervolted it and had it in an open air rig.

The only issue with mining rigs are the fans. They generally wear out much quicker than some gamer. Since gamers generally only play 1-2 hours a day, usually the fan doesn’t spin at all during that time. Compared to a miner rig which had it running 60-70% fan speed for years.