Cryptocurrency world - Selling hashpower, mining, and making money

BUTUZ

BUTUZ

Space Marshal
Donor
Apr 8, 2016
3,601
12,196
2,850
RSI Handle
BUTUZ
NaffNaffBobFace said:
I would agree with you, but why now? They've had since it hit 20k to tighten the screws on it, why wait until it's nearly a quarter of its maximum? Just doesn't make much sense other than to stop their credit card holders loosing money they know they won't be able to pay back any time soon?
Click to expand...
Don't know why now. But if you think it's to "protect customers" your very naïve - these are the credit card companies that just want your interest payments and automatically increase your credit limit when you get to 80% of your limit, and then do it again at 90% too! "Having trouble paying back your balance? nearing your sky high limit? Why not BORROW MORE!!!! Go on you know you want to! Don't worry about paying it back!, we'll get it eventually when we reposes your house"

Creditr cards. Protecting customers from overborrowing since nineteen ninety....er......no...never.
 
  • Like
Reactions: DarthMatter
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
BUTUZ said:
Don't know why now. But if you think it's to "protect customers" your very naïve - these are the credit card companies that just want your interest payments and automatically increase your credit limit when you get to 80% of your limit, and then do it again at 90% too! "Having trouble paying back your balance? nearing your sky high limit? Why not BORROW MORE!!!! Go on you know you want to! Don't worry about paying it back!, we'll get it eventually when we reposes your house"

Credit cards. Protecting customers from overborrowing since nineteen ninety....er......no...never.
Click to expand...
Protecting customers? That's one way of looking at it although I could say thats being naïve too ;-)

I was meaning more like the Mortgage Bubble where they lent to a load of people who couldn't pay it back and they got stung in the ass when everyone defaulted. I think they have finally admitted they know they have more customers than they are comfortable with who have used pretend money to buy... pretend money.
 
DirectorGunner

DirectorGunner

Space Marshal
Officer
Donor
Sep 17, 2016
2,911
12,710
2,900
RSI Handle
DirectorGunner
I just presenting my crypto business model to a bunch of engineering students doing their senior projects....
it was absolutely terrifying. But my presentation I'm told was/is impressive.

Funny thing is, in the class only a handful thought they knew about crypto, only 1 of them mined, and most of them knew about the current market crash.
 
  • Like
Reactions: NaffNaffBobFace and DarthMatter
Sirus7264

Sirus7264

Space Marshal
Donor
Apr 5, 2017
3,364
11,195
2,800
RSI Handle
Sirus7264
Lol this crash is pretty bad just as @Montoya predicted i suspect alot of IT gear is going to go on sale soon on ebay and prices of PC parts will drop. It seems this is having an impact on the stock market also. Ive still got a little faith left in crypto but who knows where it's going at this point. I'm holding 400 usd in my account at the moment waiting to see if a turn around starts to happen or not. once the dust settles is this going to be worth it or not.
 
DirectorGunner

DirectorGunner

Space Marshal
Officer
Donor
Sep 17, 2016
2,911
12,710
2,900
RSI Handle
DirectorGunner
Read this, US regulators in talks of supporting/regulating aspects of crypto (read the PDFs)
https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39

"We also are supportive of regulatory and policy efforts to bring clarity and fairness to this space."

" we should embrace the pursuit of technological advancement, as well as new and innovative techniques for capital raising, but not at the expense of the principles undermining our well-founded and proven approach to protecting investors and markets"

Also, coinbase to add segwit finally
https://twitter.com/coinbase/status/960656993122844673

Anyone ever tried this pool?
https://bitclubpool.com/
Because check this out
https://www.etherchain.org/account/f3b9d2c81f2b24b0fa0acaaa865b7d9ced5fc2fb
compared to (miningpoolhub)
https://www.etherchain.org/account/b2930b35844a230f00e51431acae96fe543a0347

Also,
Zclassic totally fucked their wallets up, no external block explorer is working last few days.

And the crash isn't just bitcoin,
entire global marketplaces are in a wobble right now.
And there's cracks showing, one of them being bitcoin, another being vintage cars.
https://nypost.com/2018/02/05/dow-suffers-its-largest-point-decline-ever/

And confirmed @Montoya is not only our fearless leader, he's also a time traveler!
 
Last edited:
  • Like
Reactions: DarthMatter
Crymsan

Crymsan

Space Marshal
Mar 10, 2016
954
2,964
1,550
RSI Handle
Crymsan
After a 900% rise in one year this is a small correction rather than crash, not many markets you can say that about such a large fall. I still think the authorities only care because with almost no checks in the system laundering cash is so so easy and it has got large enough to be a problem. Plus of course if everyone invested in this rather than say their currency the local currency would devalue and so on.
 
  • Like
Reactions: DirectorGunner, DarthMatter and BUTUZ
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
The real question is when does Montoya do a video saying "I told you so, Trust in your Glorious Leader!".

I'm going out on a limb and say when it hits $2500 - if it gets that low it's riding that wave all the way to the bottom.

EDIT -

FFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU-

https://testsquadron.com/threads/video-bitcoin-crash.12913/

You can see why I didn't jump on Bitcoin.
 
  • Like
Reactions: DirectorGunner, Radegast74 and DarthMatter
DarthMatter

DarthMatter

Space Marshal
Jul 18, 2016
1,437
6,351
2,560
RSI Handle
DarthMatter
NaffNaffBobFace said:
The real question is when does Montoya do a video saying "I told you so, Trust in your Glorious Leader!".

I'm going out on a limb and say when it hits $2500 - if it gets that low it's riding that wave all the way to the bottom.

EDIT -

FFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU-

https://testsquadron.com/threads/video-bitcoin-crash.12913/

You can see why I didn't jump on Bitcoin.
Click to expand...
Bloomberg said that above 6000 dollars for Bitcoin, the Chinese ASIC mining farms still turn a profit. So I guess going below that for a prolonged time would cause big... consequences. Not sure if it would be the final tipping point, but it I see it as a point of interest.

I really wish that this is just a dip. It doesn't have to back all the way up.
I made about 1/3 of my invested money back (and I may acutally be able to send one of the GPUs back, since it has some problems. Almost cutting my initial investment in half. Giving me a powerful GPU I keep for 1/3 of the asking price :D ).
 
  • Like
Reactions: DirectorGunner
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
DarthMatter said:
Bloomberg said that above 6000 dollars for Bitcoin, the Chinese ASIC mining farms still turn a profit. So I guess going below that for a prolonged time would cause big... consequences. Not sure if it would be the final tipping point, but it I see it as a point of interest.

I really wish that this is just a dip. It doesn't have to back all the way up.
I made about 1/3 of my invested money back (and I may acutally be able to send one of the GPUs back, since it has some problems. Almost cutting my initial investment in half. Giving me a powerful GPU I keep for 1/3 of the asking price :smile: ).
Click to expand...
Good luck Darth, hope you come out of it evens.
 
  • Like
Reactions: DirectorGunner
Radegast74

Radegast74

Space Marshal
Oct 8, 2016
3,009
10,702
2,900
RSI Handle
Radegast74
NaffNaffBobFace said:
The real question is when does Montoya do a video saying "I told you so, Trust in your Glorious Leader!".

I'm going out on a limb and say when it hits $2500 - if it gets that low it's riding that wave all the way to the bottom.

EDIT -

FFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU-

https://testsquadron.com/threads/video-bitcoin-crash.12913/

You can see why I didn't jump on Bitcoin.
Click to expand...
Dude, if you were as good at predicting BitCoin as you are predicting Montoya videos, you'd be a jillionaire!
 
  • Like
Reactions: DirectorGunner and NaffNaffBobFace
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
Radegast74 said:
Dude, if you were as good at predicting BitCoin as you are predicting Montoya videos, you'd be a jillionaire!
Click to expand...
It just goes to show I know shit-all, I had no idea BitCoin was no longer GPU farmed.
 
  • Like
Reactions: DirectorGunner and Radegast74
DarthMatter

DarthMatter

Space Marshal
Jul 18, 2016
1,437
6,351
2,560
RSI Handle
DarthMatter
One thing I have been thinking about, that I think that the interest in crypto in general has been great for, is other uses for blockchain-technology.

I think that there are many interesting applications that has been pushed quicker to the market thanks to the crypto-craze.
What I figure with this technology getting bigger is possible ways to make money on some sort of hashing-power, that doesn't involve the mannerisms of the crypto market and coins.

Any one else have thoughts on this or in this direction?
 
  • Like
Reactions: DirectorGunner
DirectorGunner

DirectorGunner

Space Marshal
Officer
Donor
Sep 17, 2016
2,911
12,710
2,900
RSI Handle
DirectorGunner
DarthMatter said:
One thing I have been thinking about, that I think that the interest in crypto in general has been great for, is other uses for blockchain-technology.

I think that there are many interesting applications that has been pushed quicker to the market thanks to the crypto-craze.
What I figure with this technology getting bigger is possible ways to make money on some sort of hashing-power, that doesn't involve the mannerisms of the crypto market and coins.

Any one else have thoughts on this or in this direction?
Click to expand...
Shhh! don't tell anyone or you increase your competition! You need to be first to market! ;D

Update on my end.
If I had cashed out Saturday, January 13, 2018 or even Saturday, January 27, 2018... one of my 1080TIs would have already been paid off.
My exchange account is ready, for the moment the market bounces back to liquidate to pay off one of the cards. Then just two more two go.
Not bad for 59 days so far, and I've only been recording diligent records for 39 days.
 
  • Like
Reactions: DarthMatter
DirectorGunner

DirectorGunner

Space Marshal
Officer
Donor
Sep 17, 2016
2,911
12,710
2,900
RSI Handle
DirectorGunner
We're coming back baby! $10K today

I'd like a stable-ish $12K to $20k Bitcoin.
wishful thinking
In any event, early and pre Q3 2017 HODLr's are being rewarded

@Montoya could you susplain why/what's going to happen? Assuming this isn't normal behavior for a bubble pop?


Sirus7264 said:
Can you sum this up for us? i don't have a couple hours to really get into this alot going on in my life. it seems today things did improve on the market luckily.
Click to expand...
It's best you just watch it TBH. The market reacted immediately to this hearing. And has continued to climb since.
 
  • Like
Reactions: DarthMatter
You must log in or register to reply here.
Top Bottom
Forgot your password?