All in the name of bear market is coming

[FP91G]

philipma1957, do you keep some part of the mined coins or do you spend everything on buying new video cards?
I read your post about how you have grown to 5 GH.
If, for example, after the end of Ethereum mining, the situation of 2019 repeats itself, when the profit will be 10-30 cents from one video card per day, then can you lose or not?

[adaseb]

My memory might be hazy but when the profits were like 0.25 per GPU which was pretty much either $0/day net profit or even a slight loss I think Phil was mining at his friends place which had solar panels. However I might be wrong. As far as I understand whether bull or bear market he is always mining.

Don’t know if he will remember or not, but me and a bunch of other guys from 2016 told him to get back into ETH mining, we told him to diversify. And low and behind, I remember he posted a photo of a old Radeon 7950 GPU with a zip tied case fan attached sitting on a motherboard which was sitting on a cardboard box. The rest is history, I think he mined ETH non stop since then.

[Looper_U]

philipma1957, do you keep some part of the mined coins or do you spend everything on buying new video cards?
I read your post about how you have grown to 5 GH.
If, for example, after the end of Ethereum mining, the situation of 2019 repeats itself, when the profit will be 10-30 cents from one video card per day, then can you lose or not?

Philipma1957 isn't in any loss and I believe he will keep mining why?

1. Electricity bill is still affordable I guess 🙂
2. You don't lose until you sell off your coins

Do you know that many made insane money from ETH that they mined and hold since 2018/2019?

[BitKongy]

My memory might be hazy but when the profits were like 0.25 per GPU which was pretty much either $0/day net profit or even a slight loss I think Phil was mining at his friends place which had solar panels. However I might be wrong. As far as I understand whether bull or bear market he is always mining.

Don’t know if he will remember or not, but me and a bunch of other guys from 2016 told him to get back into ETH mining, we told him to diversify. And low and behind, I remember he posted a photo of a old Radeon 7950 GPU with a zip tied case fan attached sitting on a motherboard which was sitting on a cardboard box. The rest is history, I think he mined ETH non stop since then.

Thanks for all your contributions guys, I will like to follow someone like this philipma1957 who thinks on the long term only, I'm in this mining thing for a long term so I'm ready to keep storing coins in bear market attacks like that of 2018, the money I want to use to build more rigs isn't needed as I have other real life job secured and I have enough money in the bank too

[Metroid]

Your advice is terrible. You gave it for 10 months in a row and it was wrong for 10 months in a row.

The time now is for dca  dollar cost average of gpu purchases.

Funny, you said it was a terrible advice, terrible advice after a coin rose 15 times its price? that is no terrible advice, anyway, in the world of crypto, there is gamble, you take a little, big or no gamble  at all, my advice was "better be safe than sorry", when a coin rises 15 times in few weeks, you sell and be happy about it, being greedy is good, being too greedy is bad, in the end the important thing is do not be a sucker, as long as you are in profit that is what matters.

About gpus, the time to buy gpus while being safe was before january 2021. There was enough stock before january at msrp, that was the right time to gamble on it, my advice after january was not to buy gpus because gpus were 3 x or more than msrp already, my first rule of safe mining to people will always be, do not ever buy overpriced gpus and as long as you dont do then you are doing it right, this case of the op is hey I wanted to be too greedy and "in the name of the bear market is coming" i missed profit, people need to choose what level of gamble they want to be in and do not blame the advice others say, everybody has a different view of things, some gamble 100%, some gamble 0%, some stay in the middle and gamble 50% and so on.

Also, gpus are coming in lhr form and you are competing x asics x non lhr gpus and yet paid 5 x the msrp ehhe and you want to be everything alright in the end and achieve roi hehe, if people are expecting me to say "hey be a sucker and do it", they got it all wrong.

[HardCore12V]

Your advice is terrible. You gave it for 10 months in a row and it was wrong for 10 months in a row.

The time now is for dca  dollar cost average of gpu purchases.

Funny, you said it was a terrible advice, terrible advice after a coin rose 15 times its price? that is no terrible advice, anyway, in the world of crypto, there is gamble, you take a little, big or no gamble  at all, my advice was "better be safe than sorry", when a coin rises 15 times in few weeks, you sell and be happy about it, being greedy is good, being too greedy is bad, in the end the important thing is do not be a sucker, as long as you are in profit that is what matters.

About gpus, the time to buy gpus while being safe was before january 2021. There was enough stock before january at msrp, that was the right time to gamble on it, my advice after january was not to buy gpus because gpus were 3 x or more than msrp already, my first rule of safe mining to people will always be, do not ever buy overpriced gpus and as long as you dont do then you are doing it right, this case of the op is hey I wanted to be too greedy and "in the name of the bear market is coming" i missed profit, people need to choose what level of gamble they want to be in and do not blame the advice others say, everybody has a different view of things, some gamble 100%, some gamble 0%, some stay in the middle and gamble 50% and so on.

Also, gpus are coming in lhr form and you are competing x asics x non lhr gpus and yet paid 5 x the msrp ehhe and you want to be everything alright in the end and achieve roi hehe, if people are expecting me to say "hey be a sucker and do it", they got it all wrong.

Where is been too greedy coming from metroid? Every miners aren't holding their coins presently because ETH price is very good, the best thing now is to swap your ETH to USDT or other stable coins but if bear market do comes it is time to start holding, I don't see where metroid is saying he is holding his ETH

[BitKongy]

Your advice is terrible. You gave it for 10 months in a row and it was wrong for 10 months in a row.

The time now is for dca  dollar cost average of gpu purchases.

Funny, you said it was a terrible advice, terrible advice after a coin rose 15 times its price? that is no terrible advice, anyway, in the world of crypto, there is gamble, you take a little, big or no gamble  at all, my advice was "better be safe than sorry", when a coin rises 15 times in few weeks, you sell and be happy about it, being greedy is good, being too greedy is bad, in the end the important thing is do not be a sucker, as long as you are in profit that is what matters.

About gpus, the time to buy gpus while being safe was before january 2021. There was enough stock before january at msrp, that was the right time to gamble on it, my advice after january was not to buy gpus because gpus were 3 x or more than msrp already, my first rule of safe mining to people will always be, do not ever buy overpriced gpus and as long as you dont do then you are doing it right, this case of the op is hey I wanted to be too greedy and "in the name of the bear market is coming" i missed profit, people need to choose what level of gamble they want to be in and do not blame the advice others say, everybody has a different view of things, some gamble 100%, some gamble 0%, some stay in the middle and gamble 50% and so on.

Also, gpus are coming in lhr form and you are competing x asics x non lhr gpus and yet paid 5 x the msrp ehhe and you want to be everything alright in the end and achieve roi hehe, if people are expecting me to say "hey be a sucker and do it", they got it all wrong.

Getting back your ROI in 8month is still a good choice to make if one is buying GPU at whatever price in January 2021, those who buy in January already made back their ROI I believe, I started mining and buying GPU in April this year and I'm sure I will get my ROI back before bear market gets here

[reymarkperry]

Hold on buddy, the market can always kill us. If you don't have a strong mind, leave it. As for me personally, perhaps I have learned to let go of everything to come to success. Good luck buddy

[XUR_TIP]

Everyone seem to be missing a vital point about crypto market today, what makes you guys think that bear market will matter anymore? What if bear market gets here and it's not as strong as 2018 bear market? Adoption rate is extremely higher right now and millions are joining the space, those who called crypto scam years back are now buying, crypto market have been better since Covid period in April 2020, crypto have clear the fact that it is better than stock in that period

[deadsix]

Your advice is terrible. You gave it for 10 months in a row and it was wrong for 10 months in a row.

The time now is for dca  dollar cost average of gpu purchases.

Funny, you said it was a terrible advice, terrible advice after a coin rose 15 times its price? that is no terrible advice, anyway, in the world of crypto, there is gamble, you take a little, big or no gamble  at all, my advice was "better be safe than sorry", when a coin rises 15 times in few weeks, you sell and be happy about it, being greedy is good, being too greedy is bad, in the end the important thing is do not be a sucker, as long as you are in profit that is what matters.

About gpus, the time to buy gpus while being safe was before january 2021. There was enough stock before january at msrp, that was the right time to gamble on it, my advice after january was not to buy gpus because gpus were 3 x or more than msrp already, my first rule of safe mining to people will always be, do not ever buy overpriced gpus and as long as you dont do then you are doing it right, this case of the op is hey I wanted to be too greedy and "in the name of the bear market is coming" i missed profit, people need to choose what level of gamble they want to be in and do not blame the advice others say, everybody has a different view of things, some gamble 100%, some gamble 0%, some stay in the middle and gamble 50% and so on.

Also, gpus are coming in lhr form and you are competing x asics x non lhr gpus and yet paid 5 x the msrp ehhe and you want to be everything alright in the end and achieve roi hehe, if people are expecting me to say "hey be a sucker and do it", they got it all wrong.

Why dont you quit yapping and put your money where your mouth is. If you're so sure things are gonna tank, please take out a substantial short position on a crypto of your choice, then make a Post about it with screenshots etc so people know you arent just a motormouth.

[Metroid]

Why dont you quit yapping and put your money where your mouth is. If you're so sure things are gonna tank, please take out a substantial short position on a crypto of your choice, then make a Post about it with screenshots etc so people know you arent just a motormouth.

So hackers can track my account and identity? no, thank you and by the way I do not care whether or not people follow my advice. I know many people that in january 2018 cursed me for 2 weeks and then the crash came and lost 95% in the end and then many of those people came to say you were right and I lost big and same thing happened in march 2020 when I said that btc crash from 12k to 4k was the greatest beartrap to date and the ones who followed my advice won big. Yeah in january 2021 i said not to buy gpus anymore because paying 3 to 5 x to me is insane, but like i said and I always empathize play safe and win big, take the time, do not rush on things. If people missed this time, there will be other times, getting in right now is a double suicide, people missed when it started and right now getting in late --> people are committing a double loss here, better to start early and then stop early too --> double win and even if people have not earned much then they played safe and won in the end, nothing against people who gets late but I will not give any advice to do that.

The reality here is that people envy others and that is bad, you see youtubers and thieves saying they got millionaire overnight or in a week with false claims and then you see many people falling for these traps, greedy is what drives people and then the media, auto reply social media message saying to people to get in, sell everything they had and get in, it was a carnage, most of those people are lucky because this thing did not really crash yet but everything pointed to a huge crash after january 2021. I gave a sane advice, yeah i could have given the advice greedy people wanted to hear, "get all in", "sell your house and everything and buy crypto" and so on and i did not, anyway i have principles. So my point here is better be safe than sorry because losing big will always be a lot lot worse than missed big.

[Mike011]

Why dont you quit yapping and put your money where your mouth is. If you're so sure things are gonna tank, please take out a substantial short position on a crypto of your choice, then make a Post about it with screenshots etc so people know you arent just a motormouth.

So hackers can track my account and identity? no, thank you and by the way I do not care whether or not people follow my advice. I know many people that in january 2018 cursed me for 2 weeks and then the crash came and lost 95% in the end and then many of those people came to say you were right and I lost big and same thing happened in march 2020 when I said that btc crash from 12k to 4k was the greatest beartrap to date and the ones who followed my advice won big. Yeah in january 2021 i said not to buy gpus anymore because paying 3 to 5 x to me is insane, but like i said and I always empathize play safe and win big, take the time, do not rush on things. If people missed this time, there will be other times, getting in right now is a double suicide, people missed when it started and right now getting in late --> people are committing a double loss here, better to start early and then stop early too --> double win and even if people have not earned much then they played safe and won in the end, nothing against people who gets late but I will not give any advice to do that.

The reality here is that people envy others and that is bad, you see youtubers and thieves saying they got millionaire overnight or in a week with false claims and then you see many people falling for these traps, greedy is what drives people and then the media, auto reply social media message saying to people to get in, sell everything they had and get in, it was a carnage, most of those people are lucky because this thing did not really crash yet but everything pointed to a huge crash after january 2021. I gave a sane advice, yeah i could have given the advice greedy people wanted to hear, "get all in", "sell your house and everything and buy crypto" and so on and i did not, anyway i have principles. So my point here is better be safe than sorry because losing big will always be a lot lot worse than missed big.

You are a motormouth and doomsayer with nothing plausible to backup your FUD.

[Skinny48]

Why dont you quit yapping and put your money where your mouth is. If you're so sure things are gonna tank, please take out a substantial short position on a crypto of your choice, then make a Post about it with screenshots etc so people know you arent just a motormouth.

So hackers can track my account and identity? no, thank you and by the way I do not care whether or not people follow my advice. I know many people that in january 2018 cursed me for 2 weeks and then the crash came and lost 95% in the end and then many of those people came to say you were right and I lost big and same thing happened in march 2020 when I said that btc crash from 12k to 4k was the greatest beartrap to date and the ones who followed my advice won big. Yeah in january 2021 i said not to buy gpus anymore because paying 3 to 5 x to me is insane, but like i said and I always empathize play safe and win big, take the time, do not rush on things. If people missed this time, there will be other times, getting in right now is a double suicide, people missed when it started and right now getting in late --> people are committing a double loss here, better to start early and then stop early too --> double win and even if people have not earned much then they played safe and won in the end, nothing against people who gets late but I will not give any advice to do that.

The reality here is that people envy others and that is bad, you see youtubers and thieves saying they got millionaire overnight or in a week with false claims and then you see many people falling for these traps, greedy is what drives people and then the media, auto reply social media message saying to people to get in, sell everything they had and get in, it was a carnage, most of those people are lucky because this thing did not really crash yet but everything pointed to a huge crash after january 2021. I gave a sane advice, yeah i could have given the advice greedy people wanted to hear, "get all in", "sell your house and everything and buy crypto" and so on and i did not, anyway i have principles. So my point here is better be safe than sorry because losing big will always be a lot lot worse than missed big.

Metroid you have been screaming about bear market since February of this year and till date it never happened, imagine people following your advice since then they will end up hating you lol, bear market will come but don't even think about telling people how the market will play out because its clear that you have no idea, your warning is real though but not the timing

[Metroid]

Metroid you have been screaming about bear market since February of this year and till date it never happened, imagine people following your advice since then they will end up hating you lol, bear market will come but don't even think about telling people how the market will play out because its clear that you have no idea, your warning is real though but not the timing

The vast majority of people 99.9% like to hear what I say, the 0.1% hate what I say because is bad for their shady evil schemes, bullrun is the only time they can scam people without much of a consequence. It has been proven that scammers only earn money on bullruns, check website pages selling asics, gpus and third party coins, all scams, so yes they hate when I say the truth, it hurts them, funny, when it was the bear market and I used to say the bull market is coming, scammers loved me hehe, so people hating on me are usually scammers, do not worry I'm used to them, I have been trading crypto since 2010.

[waggy459]

Metroid you should look up the 'no true Scotsman' fallacy.  By saying anyone who disagrees with you is a scammer you are perpetuating this.  It's a loop with no way out.

I find you humorous and certainly a counterpoint to full time bull bull bull.  But at very least this cycle, I've seen you post the same for I'd say at least 6-9 months, it's as if you've called 90 of the last 3 bear markets.

A cynical side of me says you could well be someone using forum clout to discourage newbs from entering the space during a fragile time to hold hash rate and difficulty down.

It won't matter either way, I won't take action on any one person's writing on a forum. 

[Metroid]

Metroid you should look up the 'no true Scotsman' fallacy.  By saying anyone who disagrees with you is a scammer you are perpetuating this.  It's a loop with no way out.

Disagreeing is fine, people disagree with me many times, everybody has a different perspective in life about things, insulting is not and they insult because they know my word is strong in the community and when I say community, is not only here in the bitcointalk website, I mean all exchanges where I have a strong presence, they know when this bs gets bigger I go and say the truth like I did in 2011, 2013 and 2018 and I will keep warning people about the bs and they want to shut me down, well they have been trying for as long as 2011 and to this day they failed. So this is common and I'm used to.

[adaseb]

Metroid you have been screaming about bear market since February of this year and till date it never happened, imagine people following your advice since then they will end up hating you lol, bear market will come but don't even think about telling people how the market will play out because its clear that you have no idea, your warning is real though but not the timing

Well it might of not topped out in February but he was pretty close. In February BTC peaked at $58K. So if you took all your profits then, you wouldn't really miss out on any major gains. It ended up peaking in middle of April at $64K. That is about ~10% difference, which is fairly low. So I would say it wasn't a bad time to get out. Its still early and who knows if it'll ever even go higher than $58K again.

Mining still however was profitable after this time mostly due to the fees associated with NFTs and DeFI. However if you were mining BTC it would be a different story. There is that time when the BTC difficulty dropped due to the China ban to your advantage however that was only if you had some BTC ASICs and not GPUs.

[HashingTower]

Metroid you have been screaming about bear market since February of this year and till date it never happened, imagine people following your advice since then they will end up hating you lol, bear market will come but don't even think about telling people how the market will play out because its clear that you have no idea, your warning is real though but not the timing

The vast majority of people 99.9% like to hear what I say, the 0.1% hate what I say because is bad for their shady evil schemes, bullrun is the only time they can scam people without much of a consequence. It has been proven that scammers only earn money on bullruns, check website pages selling asics, gpus and third party coins, all scams, so yes they hate when I say the truth, it hurts them, funny, when it was the bear market and I used to say the bull market is coming, scammers loved me hehe, so people hating on me are usually scammers, do not worry I'm used to them, I have been trading crypto since 2010.

You have a small mind my friend, have you ever think that those who are against your point are those who just built new rigs? Cos this is what comes to my mind, maybe they just buy GPUs and hoping that bull run last for long term so they get their money back? Why calling them scammers?

[arielbit]

Metroid you have been screaming about bear market since February of this year and till date it never happened, imagine people following your advice since then they will end up hating you lol, bear market will come but don't even think about telling people how the market will play out because its clear that you have no idea, your warning is real though but not the timing

The vast majority of people 99.9% like to hear what I say, the 0.1% hate what I say because is bad for their shady evil schemes, bullrun is the only time they can scam people without much of a consequence. It has been proven that scammers only earn money on bullruns, check website pages selling asics, gpus and third party coins, all scams, so yes they hate when I say the truth, it hurts them, funny, when it was the bear market and I used to say the bull market is coming, scammers loved me hehe, so people hating on me are usually scammers, do not worry I'm used to them, I have been trading crypto since 2010.

You have a small mind my friend, have you ever think that those who are against your point are those who just built new rigs? Cos this is what comes to my mind, maybe they just buy GPUs and hoping that bull run last for long term so they get their money back? Why calling them scammers?

Metroid is right, he just left out the part that there are others that make money too, the ROI heads, moonbois, investards, gamblers, etc etc.. LOL

[deadsix]

Well boo hoo im being targeted cry me a river.


Start sayin "its gonna be dark soon" at 8am and repeat it every hour untill 8pm when it actually does, then jump up and down shouting "see I told you so". Moron.