He probably means that if you trade instead of mine you will make more money. Which is true, however most likely you will end up losing all your money trading like most people around here who try to day-trade.

Either way, back to your mining question.

Right now you can maybe earn $5/day with your GPU but it won't always be like that. ETH can lose half its value and you will make $2.50/day. The transactions for ETH can become less congested and your reward can also fall to like $2.50/day even if ETH stays at $1800.

Overtime as more and more GPUs start mining ETH, they all get a fair share of their profits. So if twice as many people start to mine ETH in the next 90 days, then your profits will be $2.50/day even if the transaction fees stay the same and ETH stays at $1800. This is called difficulty and its to keep the supply constant. Try to understand this before you spend $40K.

You need to realise that you can't compare cycles this way. Just because BTC went 20x in 2017 doesn't mean it will go 20x this time around. Even if it does go 20x, do you expect it to go another 20x from $400K all the way up to $8,000,000 BTC? Obviously the cycle needs to stop somewhere.

Right now prices are very high and at times the algo bots are having problems keeping liquidity of some of the smaller currencies such as BTCEUR. Look what happened when it broke 50K euro, there was massive sell walls and not enough euro for the bots to arbitrage the trade and there was a huge arbitrage for a few hours.

Prices are always starting to get toppy now. If we are at $250,000 BTC, imagine how difficult it will get then when someone wants to dump 25BTC all of a sudden? Who will absorb all that liquidity?

He made a typo, he meant April most likely. I think BTC usually in April has a good month. There was maybe two Aprils in the past which were like -~4% or so, so pretty much flat. However most of the other Aprils were very bullish.

However keep this with a grain of salt. The same was said about Novembers. Prior to Nov 2018, everybody was expecting November to be a very bullish month because it never in the past had a negative %'s. So that's why people went all crazy longing BTC at $6K only to get liquidated at $3K when it broke support the following month.

So don't take these monthly predictions too seriously.

I hate PSUs that have a 2 PCIe 8 pin in series. I had a few of these PSUs in the past and basically I connected it before to 300 Watts GPU powerhogs and basically I think I had issues with half of them melting. Where it melts is almost always the +12V pin which runs in series to the other 8 pin PCIe connector.

The hints that they were melting was that the GPU would crash randomly, I would reboot it would work fine for a bit and crash again. Finally when I decided to replace the GPU, the PCIe connector was basically stuck in the GPU, was almost impossible to seperate it. And upon inspection, the 8 Pin +12V which is in series with the other connector on the GPU had melted.

No idea why its legal to sell PSUs this way. Maybe if it was 2 PCIe 6 pin connectors but not 8 pin.

Guy just stopped another live stream. He stopped the stream at 14:51 March 29th. And like clockwork as soon as his live stream stops, there is a massive sell off. Price went from $58160 all the way down to $57300, moments later.

The Bybit premium also disappeared and if you compare the volume profiles you will see Bybit had massive red volume candles. If you sold when he ended his stream and bought at that nasty bybit 1M spike you would of had 2 very profitable trades with little to no drawdown.

If the stream is added to his channel I will post the link. However not all his live streams make their way to his channel.

You really shouldn't be using those trading groups, most of those are scams. And they are especially dangerious if you are using leverage , such as 20x. And you can see how quickly you lost it all.

20x doesn't seem like much however if you long BTC now at $55000 your liquidation price is essentially $52500, which is only a little over 4% which is considered very low volatility with crypto.

You need to learn how to trade yourself instead of copying other traders. Imagine if those trading signals you got were profitable... what would you do if one day they just closed their doors and didn't give you any signals anymore... what would you do. Hence you need to learn to trade yourself and not rely on other people.

Most people that know me personally they all say that they should of bought bitcoins earlier. I told them they are cycles and to buy when there is a bear market. They said "contact me when to buy".

So basically back in 2015 when it was like $200 and in 2018 when it was $3500, I told these people that "everybody is fearful... might be time to buy" and there was always some excuse. Like in 2015 I remember people were saying "I will buy at $100 instead of $200" and during Nov 2018 crash they said "I will buy 3 digit bitcoin instead of buying it at $3500" and we all know what happens next. Some of these people ended up buying the top years later.

It’s very difficult to damage your GPU by mining. Worst case is usually your fans run faster so they wear out quicker and have a shorter lifespan.

My advice is just make sure you got good air flow, make sure you have a good intake and exhaust fan or better yet just remove the cover from your desktop case. It will drop temperatures a lot but it will make more noise which might be annoying if you sleep in the room.

But you most likely won’t damage your GPU by mining. There are temp sensors and they shutdown to prevent damage.

Whats crazy is if you asked anyone back in September what would happen to the hashrate most people would say it would decrease by 25% due to the ETH 4GB ASICs and 4GB GPUs going offline. However the complete opposite happened. This is proof that you can't predict hashrate.

Even if a bear market started I wouldn't be surprised if the hashrate stayed the same or kept going upwards. Basically what happened in the past with BTC hashrate. It very rarely decreased even in a bear market. Same will happen with ETH hashrate in the near future.

Basically there is hardly any bandwidth usage with mining, its not like watching a Youtube video. All your rig sends to the pool is just some text.

You need to have good latency to your ISP and to your pool. If you are living somewhere in the mountains where your ping is like 1000ms you will get tons of stales and basically lose a little money.

I used mobile tethering before and it was horrible. The ping was all over the place and the iPhone kept dropping the connection every few hours. Best is a regular land type of internet service.

Also if you got more than 1 rig, don't use wifi. There will be interference from all your GPUs. Just a CAT5 LAN cable.

Judging from the Youtube comments, when he is trading, especially on weekends with lower liquidity, it does affect the markets. Yesterday I said that some of his followers use 100x leverage and what happened was around that 100x price ($55742) price dipped there and rebounded. And usually when he starts his stream, the Bybit premium is much higher than most other exchanges.

When he stops his stream, usually the premium goes away and if he is long there is a sell off, which is what happened at March 27th at 23:40, he stopped his stream and price went downhill from $56080 (his average entry) all the way to $55572. Most likely people had no idea what to do so they just closed their trades. Some at break-even and some at a loss.

There are pros and cons to both the aluminum and wood open air rigs. Basically when I started out I only used wood because it was much cheaper. And you might not even need to buy it, you probably got some laying around in your basement. The biggest issue was actually finding wood which was straight and even. Because there are small curves and it affects how the frame looks afterwards however they are purely cosmetic. People are scared to use wood due to fire issues however wood doesn't start burning until like 200C or so and at that temp you must have serious issues with your setup.

Aluminum is nice and sturdy but the parts are very pricey. And it also takes longer to cut the pieces and its more difficult to clean up metal shavings than wood shavings. Wood shavings you can even do it in your bath tub and just rinse it down, you can''t do that with metal shavings. If I was building a rig or 2 I would go with aluminum however if I had many rig frames to build I would just use wood instead due to the simplicity, cost and speed in getting it up and running.

The issue with using stablecoins to buy groceries is the same reason why people dont use bitcoin to buy a cup of coffee and its due to the transaction fees. Last year you could send USDT back and forth and it was pretty cheap. Now to send an USDT transaction costs at least $10-$15 at times ,sometimes even more. Sending a regular ETH is about half of that. Its cheaper on OMNI tether however that is usually much slower.

So its not ideal for small purchases. Hence for purchases at grocery store most people just convert back to USD and withdraw that into their bank account and later pay with a debit or credit card which has no fees pretty much. Right not paying with tether would not be ideal in any shape or form. We need lightning network and side chains to make transaction cheaper on the main networks.

You can replay the market however keep in mind that this only works for technical analysis and not fundamental analysis which plays a big role in crypto markets. Look at all of Elon's tweets about BTC and DOGE. Whenever he tweets usually there is a spike in price for both those cryptos. These spikes basically come for no reason unless you are paying attention to the social media twitter posts.

This is something where market replay won't help you. Plus there are times when there could be some important even and it can impact the price of crypto. For example, when BTC is correlated to stocks. When unemployment numbers are bad, stocks usually go down and bitcoin follows, reverse is also true. And this is something that you can't do with market replay or technical analysis.

Best way to trade is not by backtesting but by forward testing with a demo account or small dollar amounts.

Keep in mind that as price goes higher and higher more and more people are going to be willing to sell. Maybe not as these prices however consider if BTC goes to $100K. From most posts and comments it seems people will either sell all their bitcoin at $100K or they will start to scale out some positions at those prices.

Another thing to consider is that right now people are extremel greedy and don't want to sell. However lets say BTC starts to crash and breaks $20K and breaks $10K, obviously at those times people will get fearful and sell their BTC hence supply will go up. At that time the demand will be lower and hence price will keep going lower and lower.

This is what happened pretty much in 2017 cycle. Nobody wanted to sell at $20K but everybody sold between $3-6K when it broke November support.

That’s what a lot of people think he is doing. Basically flashing his $10M positions and taking the opposite trade on another account or exchange. Bybit allows you to have multiple accounts so he can actually just buy and sell into his positions with no risk except the trading fees.

He makes good money on maybe half his videos, he does have videos where there are loses and some of his videos start when he is already in profit so people can’t copy his trades.

What is strange is if he is making $250,000 a day why waste your time selling some $20 month trading course?

Guy is in another LIVE trade and his channel is getting more and more views. Currently 5000 live views from 2-3K from a couple weeks back.

https://www.youtube.com/watch?v=h64Z6EXyBXY

Currently he is long at $56081 (Bybit price) and I am assuming he has thousands of followers that entered at around the same price. Price has traded sideways for the past hours so we can assume his followers all got an entry at $56000.

Now assuming leverage as follows, liquidation prices would be at,

100x leverage = $55750
50x leverage = $55200
25x leverage = $54150

Judging by the comments in the chat, most people are using 25-100x leverage when copying his trades. I am going to take a long if I see some type of whale activity where they try and liquidate all these high leverage positions that opened a position at $56K.

Basically there is no real thing such as free electricity. Somebody has to pay the bill. Only type of free electricity might be if you got a solar or wind farm.

Some people got free electricity included with their rent. Reason why is because the entire apartment building just lumps the total electrical usage and management pays the bill. Why? Because older building didn't have space for an individual meter for every unit. Electricity was cheap back then and they didn't think "bitcoin mining" would ever be a thing.

Other people got electricity for free at school or work. Its technically not free if you read the terms agreement. However you can say "instead of using a space heater, I use an mining ASIC for heat". Maybe that would be allowed. However I am pretty sure this also technically is not allowed since "mining" is considered an income and as a business and you technically can't run a business at most apartment units, or student housing.

Like Phil said, the PSU is bad get some reputable brand like Corsair or EVGA or Thermaltake or ENERMEX, etc. You don't need 16GB of ram, 8GB should be enough. You also don't need an SSD for a mining rig, just use some old HDD you got laying around somewhere.

Regarding the profits? You probably won't make a profit after 6-8 months with 1 GPU. Right now that GPU earns $3 a day so about $90 a month. However most likely in a month or two the profits might not be as high, might be $2 a day or less. Or might be $5 a day if ETH hits $3000-4000, nobody knows.

Either way to pay for all your gear faster you need more GPUs like 5-6 per rig. Right now however GPUs are crazy expensive. If you could get the GPUs cheaper at MSRP prices or something second hand then perhaps, however getting a profit by buying these expensive GPUs doesn't seem like a good idea.

I think we might get something similar to what happened last month when the options expired. It also had tons of open interest. 2 Days after the February expiry we bottom and proceeded to make a new ATH. In January similar situation, we bottom a few days after the options expired.

Dec 2020 doesn't really apply here because we were on a constant uptrend in those days, BTC kept going up and up before and after expiry so it had no effect. So I am assuming we get something similar this time around. Most likely we will recover in April, make new ATH in mid April and start to go back down at the end of April.