KiaKia (OP)
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June 04, 2022, 07:14:00 AM |
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In a bear market should one be buying graphic cards or one should be buying coins instead?.
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Metroid
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June 04, 2022, 07:43:25 AM |
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buy coins but we are not in the bear market yet, bear market is at least 75% btc crash from top, so btc top = 70k, 75% crash btc = 70k - 52.5k = 17.5k, so btc will crash a lot yet, this is still a pre bear market because it crashed below 28k, in all bull market and pre bull market, btc never crashed below 28k, pre bear market would be hit when btc crashed below 28k and it happened few weeks ago, btc crashed to 25k. So either sideways a bulltrap or going to hehell at moment, any rise is a bulltrap, the ideal price to buy btc is 15k or below, btc is still over priced, miners are selling, sheeps are buying. The only time to buy btc is when is below what miners are paying to mine one btc because in the bear market fiat is king. So is normal for miners to sell their coins at loss to get fiat to pay their bills, bull market is normal for miners to sell coins for a lot more than they cost to mine them.
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swogerino
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June 04, 2022, 09:11:14 AM |
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In a bear market should one be buying graphic cards or one should be buying coins instead?.
I would buy cheap cards,let me make you an example,just some months ago when we were still in bull market,mainly October 2021 where we had the last ATH of Bitcoin a friend of mine bought a Rx 590 card for 400 EUR which I was strongly against for the hash rate and power consumption this card gives.Now this card costs 100 EUR or even cheap used from mining rigs that people here want to sell,this would be a good buy if you have cheap electricity cost to run your mining rigs.Also now the Rx 470/570/480/580 cost really cheap here the 4 GB versions and you can use them to mine ETC if you as I said have cheap electricity costs. The only time I would suggest buying coins is if you do not want to have the burden of running and managing your rigs,you just want to buy coins with the money you have allocated for the mining rig and keep them in your wallet waiting for the next bull run,that is the only time I can agree to buy coins.
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gagux123
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June 04, 2022, 10:00:49 AM |
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In a bear market should one be buying graphic cards or one should be buying coins instead?.
My answer to your question is... it depends! We are currently in a worrying and unpredictable scenario. Well, there are several variables that need to be analyzed, because with the war between Russia vs Ukraine, cases of COVID increasing and inflation all over the world, this can interfere with the values of cryptocurrencies and video cards. If in fact Ethereum migrates to PoS, there could be a massive sale of video cards, because a significant portion of miners, mine ETH today. If the miner already has some video cards, the kWh value is cheap or the person already has a photovoltaic panel, I believe it could even be worth it. But (in my opinion), if some of these variables that I mentioned in the above paragraph are not reached, I believe, buying cryptocurrencies is a more sensible option... Not to mention that cryptocurrencies have greater liquidity than video card. In an emergency, if you need money quickly... I have no doubt that selling your cryptocurrencies will be much faster and more practical than selling your video cards. Make fractional crypto purchases... but be very careful, because unfortunately there are great chances that we are currently in a FUD
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Kalchef
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June 04, 2022, 10:28:20 AM |
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Wait for the death cross, I don't know if you've ever heard about this, I am expecting this death cross to happen by August, BTC will dip to a new all time low since 2020 and that's the time you should start buying coins, most GPU's aren't back at MSRP yet so the best answer right now is doing nothing, don't do anything.
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rdluffy
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June 04, 2022, 11:32:58 AM |
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We are currently in a worrying and unpredictable scenario. Well, there are several variables that need to be analyzed, because with the war between Russia vs Ukraine, cases of COVID increasing and inflation all over the world, this can interfere with the values of cryptocurrencies and video cards.
These variables are worse than the beginning of Covid when BTC dumped and them started the road to ATH, all these events together create a bad enviroment for all of us, but I think if the war ends, at least some money will start to move again and the world will start again to have some optmism, and then end of covid and pandemic situation will slowly get us to a btter place again But to answer the question of OP, I survived the bear market of 2018 I was a miner in 2017 to 2018 and I saw the crash, I didn't had a decent plan and at the crash I had a lot of coins, a bag holder ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) After the crash I started to think better, and never sell any coin mined, I sold my cards due to my electricity costs, I had BTC and ETH, I put on cold wallets and waited. In 2020 I saw some opportunity to mine again, I bought some cards and started At ATH I was able to sell some coins, not all, but now I have cash to survive for some time I know some things are easy to say or repeated a lot of time here, but it's true and can help in a bear market 1 - If you have BTC, don't sell anything in a bear market, unless you need to buy food to survive 2 - Stay only with coins you believe it's prepared to survive for a long time, for example ETH last time, like BNB now 3 - If your electricity is cheap, you can continue to mine, but let's say you have 10 cards, you can sell 5 and stay with 5, you will be prepared for both scenarios 4 - If you have spare money, or the cash of your sold cards, you can start to DCA, buy some BTC every week Eventually prices will rise again, and you'll have coins to sell and profit, but if you sell in a bear market it will be hard to profit in a bull market, you will not have coins.
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FP91G
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June 04, 2022, 11:50:29 AM |
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In a bear market should one be buying graphic cards or one should be buying coins instead?.
Now is a bad time to buy video cards because they are still expensive. It is probably better to wait for the news about the end of ethereum mining and buy a mining farm at a good price. But this is provided that 1 kilowatt costs no more than 6 cents.
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Metroid
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June 04, 2022, 02:01:18 PM |
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Many exchanges have been laying off people because they know this is going to get worse and worse, the truth is exchanges know more than even any crypto TA because they know if there are more buys or sells, there is a reason they are laying people off. Anyway, I hope you trolls sold some coins to get through the bear market if not then dont miss the opportunity on the last bulltrap that is coming in few weeks or months, is not going to be easy, during previous bear markets were never easy anyway.
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BTC Address: 1DH4ok85VdFAe47fSVXNVctxkFhUv4ujbR
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devil2man
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June 04, 2022, 08:05:06 PM |
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Given the market trend at the moment it does not seem appropriate to buy new gpus it is better to wait for their price to drop, instead it is better to stock up on altcoins both by buying them cheap and by mining them
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Coinfarm ventures
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June 04, 2022, 09:08:36 PM |
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Many exchanges have been laying off people because they know this is going to get worse and worse, the truth is exchanges know more than even any crypto TA because they know if there are more buys or sells, there is a reason they are laying people off. Anyway, I hope you trolls sold some coins to get through the bear market if not then dont miss the opportunity on the last bulltrap that is coming in few weeks or months, is not going to be easy, during previous bear markets were never easy anyway.
That's right. I think the only profitable move these days is to short Coinbase, Riot Blockchain or Marathon on the stock market. I was actually applying to jobs at these kinds of companies a month ago, but thank god I pulled the plug on them.
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Bitcoin_Arena
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June 04, 2022, 09:48:13 PM |
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buy coins but we are not in the bear market yet, bear market is at least 75% btc crash from top, so btc top = 70k, 75% crash btc = 70k - 52.5k = 17.5k, so btc will crash a lot yet, this is still a pre bear market because it crashed below 28k, in all bull market and pre bull market, btc never crashed below 28k, pre bear market would be hit when btc crashed below 28k and it happened few weeks ago, btc crashed to 25k. So either sideways a bulltrap or going to hehell at moment, any rise is a bulltrap, the ideal price to buy btc is 15k or below, btc is still over priced, miners are selling, sheeps are buying. The only time to buy btc is when is below what miners are paying to mine one btc because in the bear market fiat is king. So is normal for miners to sell their coins at loss to get fiat to pay their bills, bull market is normal for miners to sell coins for a lot more than they cost to mine them.
History has it that BTC has never crashed below the previous all-time high after a new cycle. Let's wait and see what happens this time round, but as far as I know, we are already in a bear market. Most people realize it when it's too later.
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Coinfarm ventures
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History has it that BTC has never crashed below the previous all-time high after a new cycle. Let's wait and see what happens this time round, but as far as I know, we are already in a bear market. Most people realize it when it's too later.
I sold 90% of my coins back in May last year when BTC was ~$45k. I don't think that was a bad price, considering I bought the coins when BTC was ~$5k. It's impossible to time the market perfectly. I thought things would keep going down from there, which is why I didn't build any mining rigs then. But I didn't foresee the second bull run later that year, which is fine, because I profited enough. So this market was actually similar to 2018, where there was a bull trap in May-June. I fell for that bull trap and signed a lease to rent mining colocation space for 6 months, hoping that we could keep mining because the price would at least stagnate if not go up. But the teddy bear left and the grizzly bear showed up, ETH went to $90 and the rest is history.
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gagux123
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June 05, 2022, 01:51:37 AM |
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These variables are worse than the beginning of Covid when BTC dumped and them started the road to ATH, all these events together create a bad enviroment for all of us, but I think if the war ends, at least some money will start to move again and the world will start again to have some optmism, and then end of covid and pandemic situation will slowly get us to a btter place again But to answer the question of OP, I survived the bear market of 2018 I was a miner in 2017 to 2018 and I saw the crash, I didn't had a decent plan and at the crash I had a lot of coins, a bag holder ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) After the crash I started to think better, and never sell any coin mined, I sold my cards due to my electricity costs, I had BTC and ETH, I put on cold wallets and waited. In 2020 I saw some opportunity to mine again, I bought some cards and started At ATH I was able to sell some coins, not all, but now I have cash to survive for some time I know some things are easy to say or repeated a lot of time here, but it's true and can help in a bear market 1 - If you have BTC, don't sell anything in a bear market, unless you need to buy food to survive 2 - Stay only with coins you believe it's prepared to survive for a long time, for example ETH last time, like BNB now 3 - If your electricity is cheap, you can continue to mine, but let's say you have 10 cards, you can sell 5 and stay with 5, you will be prepared for both scenarios 4 - If you have spare money, or the cash of your sold cards, you can start to DCA, buy some BTC every week Eventually prices will rise again, and you'll have coins to sell and profit, but if you sell in a bear market it will be hard to profit in a bull market, you will not have coins. Yes, excellent observation! I also believe, the war between Russia x Ukraine is very relevant and that it could impact perhaps the entire population on earth, directly and indirectly! Not to mention, this war could get worse, as there will be the possibility of other countries getting involved. A few years ago I was also interested in buying some video cards to mine, but with the great popularity of mining, it became unfeasible, because most of the video cards became scarce and with that the price of these equipments increased. I even want to go back to mining, but in my opinion, I believe it will be more valid when the migration from ETH changes to PoS, with that, there will be great opportunities to acquire vga's with an inviting price!
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adaseb
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June 05, 2022, 03:50:03 AM |
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Many exchanges have been laying off people because they know this is going to get worse and worse, the truth is exchanges know more than even any crypto TA because they know if there are more buys or sells, there is a reason they are laying people off. Anyway, I hope you trolls sold some coins to get through the bear market if not then dont miss the opportunity on the last bulltrap that is coming in few weeks or months, is not going to be easy, during previous bear markets were never easy anyway.
That's right. I think the only profitable move these days is to short Coinbase, Riot Blockchain or Marathon on the stock market. I was actually applying to jobs at these kinds of companies a month ago, but thank god I pulled the plug on them. Shorting Coinbase is way too late right now. Most likely the stock has bottomed or it will bottom pretty soon. Best time to short it was during launch. Generally when the bull market is strong, many exchanges hire tons of extra staff. Because they get flooded with applications, support, etc. But in a bear market, nobody is interested in crypto and they start to lay people off. Happens every cycle.
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Coinfarm ventures
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June 05, 2022, 05:54:58 AM |
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Shorting Coinbase is way too late right now
I don't think so. I think the price can go much lower than this, especially if Bitcoin price goes < $25k. Either way, I didn't short it to speculate. I shorted it to hedge the risk of coin prices going down further.
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Metroid
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June 05, 2022, 06:38:07 AM |
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History has it that BTC has never crashed below the previous all-time high after a new cycle. Let's wait and see what happens this time round, but as far as I know, we are already in a bear market. Most people realize it when it's too later.
The reason it has never "crashed below the previous all-time high " is because btc grew 100 or more times on previous cycles, this cycle it rose only 23 times, bottom to top. So yeah lets see what happens this time around.
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philipma1957
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June 05, 2022, 02:11:51 PM |
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Listen to the Bears.
Metroid has called a bear market since Jan 2021 or 12+6 = 18 months in a row.
Every one of those months a person mining eth with a nvidia series gpu and 15 cent power turned a profit.
Lets see 3090 burns 300 watts or 7.2 kwatts a day lets say 8 kwatts a day.say 8 x 15 cents it earns 110 x 2.3 cents
so earns 2.53 and burns 1.20 at 15 cents
daily profit = 1.33 a day. this is not bear for mining
in fact
it burns
80 cents at 10 cent power
and
40 cents at 5 cent power
so
1.33 15 cent power for next 75 days = 100 profit 1.73 10 cent power for next 75 days = 130 profit 2.13 5 cent power for next 75 days = 160 profit
the numbers above are most likely surely going to happen
and they would mean that miners will have had a solid 21 months in a row of making money.
One or 2 more delays of pos now sept say Jan 1 would mean 24 or 25 months of profit since Metroid called bear.
Not knocking Metroid as we have a new condition here
bear/crab for investor/trader dec 2020 =28k June 2022 = 29k
bull/crab for miner same time zone
this is actually new as I see it.
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Metroid
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June 05, 2022, 03:28:46 PM |
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Metroid has called a bear market since Jan 2021 or 12+6 = 18 months in a row.
I did not call a bear market since januay 2021, I called a huge crash because altcoin prices rose too fast, beyond anything possible, some coins rose 50 times in days and that is insane, and when I see that I will call that a huge crash is coming. There are phases in this market, I'm not even calling this a bear market yet, this is a pre bear market, yeah the next one is a bear market. Yes, I said not to buy gpus if more than msrp and I said not to buy coins because scammers were pumping coins to more than 50x. I said to sell coins and get that 50x scammers pumped, I myself sold 80% of my eth I had at the end of january 2021 at 1500 usd. So you are right, if people bought gpus before january 2021 and still mining to this day june 2022 did profit big but only if they sold close to the top if not then they have not because gpus prices at that month rose too much too, remember you only profit if you sell, eth at 4.8k top was good eth at 1.7k is bad and will get worse.
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philipma1957
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June 06, 2022, 12:52:55 AM |
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Not knocking what you say just pointing out you have been negative since jan 2021.
and that pos seems to be pushed out one more month to sep 2022 not aug. 2022
We both agree that a slide 🛝 will happen but it is more or less when it happens we disagree on.
I am thinking winter 2022 / 2023.
Say Dec-Jan time frame.
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Metroid
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June 06, 2022, 02:47:03 AM Last edit: June 06, 2022, 03:18:44 AM by Metroid |
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Not knocking what you say just pointing out you have been negative since jan 2021.
and that pos seems to be pushed out one more month to sep 2022 not aug. 2022
We both agree that a slide 🛝 will happen but it is more or less when it happens we disagree on.
I am thinking winter 2022 / 2023.
Say Dec-Jan time frame.
Concerning pos, I did not say eth pos would have come in 2021 or even 2022, to me I was always very clear that it would come one year or at least 18 months prior the next pre bullrun. So as btc halves in april 2024, my prediction was that pos would have come starting 2023 onwards, so I was on point on that too as far as is going, the issue that I always pointed out was about buying gpus for more than msrp and we know what happened after january 2021, gpu prices jumped 4 times x msrp and that was insane, no way I would have recommended anybody to buy gpus at such inflated prices but like I said the ones that have bought gpus at inflated prices and sold at top then they won big, the ones that bought gpus at inflated prices and have not sold at top they have not even reached roi because difficulty increased so much and price decreased so much that reaching roi would be close to impossible if people sell their eth now, eth difficulty in february 2021 was 5th's, now 15th's, so basically you are earning 3 times less eth now than in february 2021 and price is pretty much the same. Given the difficulty at that time 5th's, you were earning with a 3070 0.06 eth per month, today you are earning 0.02 eth per month with 60 mhs and this i'm not even accounting the gpus were lhr which would be 30%~50% less earnings per month and many people bought lhrs 3070 gpus for 2k each. Anyway my point is, 0.06 x 1 first month + 0.05 next month and ever decreasing earnings to the point of 0.02 today makes an average of 0.035 per month x 14 months average = 0.5 eth, eth right now 1.8k, 0.5 eth = 900 usd, people paid on 3070 around 1600 usd, so they never even reached roi up to now if they did not sell close to the top or at top. So the people who bought gpus at msrp or lower earned big and reached roi and that was what I recommended people to do so. https://whattomine.com/coins/151-eth-ethash?hr=60&p=0.0&fee=2.0&cost=0.1&cost_currency=USD&hcost=1600.0&span_br=1h&span_d=24&commit=Calculatehttps://etherscan.io/chart/difficulty
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