Ethereum

BKtje

We have a group in work where we are hoovering up some second hand cards to build a small home made mining rig. Currently have 6 gfx cards and it should "go live" this week.

We estimated that with those 6 cards we should mine just over 3 eth per year meaning we more or less get double our investment back year one. Electricity is not paid by us

After that we'll see if we stick with ETH or switch to something else. More of an experiment for us than really seriously mining but we may get more serious in the future if things go well.

Thargor

BKtje wrote: »

We have a group in work where we are hoovering up some second hand cards to build a small home made mining rig. Currently have 6 gfx cards and it should "go live" this week.

We estimated that with those 6 cards we should mine just over 3 eth per year meaning we more or less get double our investment back year one. Electricity is not paid by us

After that we'll see if we stick with ETH or switch to something else. More of an experiment for us than really seriously mining but we may get more serious in the future if things go well.

Mind you dont lose your job when its discovered by a manager...

BKtje

The manager is leading the charge haha

grindle

EndaHonesty wrote: »

With all the current hype around ETH I would think it would be difficult to find a good ETH miner in stock anywhere, and the prices are understandably high.

What do you think about Monero mining?

If you have a Monero miner you have an ETH miner, they're just GPUs. Both are excellent projects but Monero has higher risk built in because it's truly private and isn't the entire meta of "blockchain as solution" like Ethereum is.

unkel

New ATH today, gone over $1450

Bodjhrjekekr

I just have 1 Ether, does it seem like a good/secure prospect for a long term hold? Had bought it for like 1106 before a massive dip a few weeks back

grindle

TL;DR - yes. 90%+ of my lifesavings have been tied up in this since 2016 and will be for many more years, the rest of the 10% is made up of other crypto assets.

Whenever you read about Blockchain As A Service for business, they're talking about Ethereum.
The numpty mogs who used to post here (they'll be back when BTC hits $27k or something) would say "But they can just run their own fork of that blockchain forever!"
They could, currently do or are in the middle of migrating small sections of businesses to the network, but before they migrate they get limited or zero benefits of decentralisation until full migration. Which is years away. There will be another crash years before Ethereum's zeitgeist moment (psst: next year most likely, fill your bags in 2022 and 2023) and even then it's years before we see quantifiable sections of the web being hosted on Ethereum. Ethereum is still too young to handle and subsume the current stock exchange traffic. Let it get there first.

It also depends on what your price point is for an exit. It could drop to $300 again easily (would you keep buying in that drop? If not, dump what you have - your patience will be tested). It could pop to $3k and exceed by December and THEN drop to $300 for years. But it is the meta of blockchain services.
ETH-killer fans: "This thing says it's the new Ethereum!"

One might be or they might work together in sync, but they'll need the network effect. Have we all watched Bitcoin reach new ATHs whilst being a demonstrably inferior option for privacy and transaction costs? We have. The faith and/or idiocy of the market far outweighs the what-ifs and maybes of tech superiority generally traded to detriment of decentralisation and ultimately market value.

stockshares

I got notification from Yearns Signal group that Yearn have reactivated their yETH vault which returned 34% last year.
See attachment below.

Bankless recommended it below in Sep 2020.
https://newsletter.banklesshq.com/p/how-to-get-the-best-yields-on-your

seannash

grindle wrote: »

It could drop to $300 again easily (would you keep buying in that drop? If not, dump what you have - your patience will be tested). It could pop to $3k and exceed by December and THEN drop to $300 for years.

Just to pick up on this. Why cant I just sell as it falls. I'm in crypto for the money, if it drops I sell. I dont understand why this is frowned upon.Sell and buy back in when its levelled out, not sure why that strategy isn't allowed.

EndaHonesty

seannash wrote: »

Just to pick up on this. Why cant I just sell as it falls. I'm in crypto for the money, if it drops I sell. I dont understand why this is frowned upon.Sell and buy back in when its levelled out, not sure why that strategy isn't allowed.

You can sell at a 300 loss, and within minutes the asset could be up 600. It's not as easy as you portray.
If you try to play that game you have to go full time, give up "normal" work, spend hours watching the market, living on the edge.

The fact that you even suggest this strategy implies that you have never even tried it.

People who offer this advice are experienced, and are not just posting ignorantly, which you seem to be.

seannash

EndaHonesty wrote: »

You can sell at a 300 loss, and within minutes the asset could be up 600. It's not as easy as you portray.
If you try to play that game you have to go full time, give up "normal" work, spend hours watching the market, living on the edge.

The fact that you even suggest this strategy implies that you have never even tried it.

People who offer this advice are experienced, and are not just posting ignorantly, which you seem to be.

Why would i be at a loss. I bought in November, holding and sold when bitcoin began dumping there towards to 30k.

I bought back in. Im certainly not going to watch ot go to 300. Ill take profit where i can.
Ive tried this strategy with a lot of cryptos and so far its been alright.
Im happy to pull out at any time if im in profit.

Oh and FYI ive been involved in crypto since 2015.
I remember the holders during the crash of 2018. I pulled out of a large nano position (amongst others) in profit before it went to sweet **** all.
Oh and i successfully tried this strategy with doge over the weekend and make 4k

EndaHonesty

seannash wrote: »

Why would i be at a loss. I bought in November, holding and sold when bitcoin began dumping there towards to 30k.

I bought back in. Im certainly not going to watch ot go to 300. Ill take profit where i can.
Ive tried this strategy with a lot of cryptos and so far its been alright.
Im happy to pull out at any time if im in profit.

Oh and FYI ive been involved in crypto since 2015.
I remember the holders during the crash of 2018. I pulled out of a large nano position (amongst others) in profit before it went to sweet **** all.

Everything is easy in a bull market. That is easily forgotten.

Trading is hard. Very hard.

seannash

EndaHonesty wrote: »

Everything is easy in a bull market. That is easily forgotten.

Trading is hard. Very hard.

Im not saying trading. Of people are in profit now people are suggesting watching that go to nothing and if you're not prepared for that get out. I dont agree with that. If you feel its gonna drop off a cliff then pull out your money. Buy in again once its cooled off. Yeah your profits may not be as big if you just held but so what.

EndaHonesty

seannash wrote: »

Im not saying trading. Of people are in profit now people are suggesting watching that go to nothing and if you're not prepared for that get out. I dont agree with that. If you feel its gonna drop off a cliff then pull out your money. Buy in again once its cooled off. Yeah your profits may not be as big if you just held but so what.

People are buying at every moment. People are buying at the top. You might buy at the top.

There is no "feel". If you think you can time the market, you are wrong. It really is that simple.

What you're talking about is trading, whether you know or acknowledge it. Buying and selling in hours or days is trading. Trying to time the market is trading.

Anyone who is posting here for more than a few days has tried it, and failed at it. The only successful tactic is HODL.

There are people who are professional traders and some of them might be making money but if they are doing it they are working their asses off, 24/7 and grinding out a margin, but it's hard work.

How do you become a Millionaire Crypto Trader?... Start out with a Billion...

EndaHonesty

Go on so... I hope you are successful...

seannash

EndaHonesty wrote: »

People are buying at every moment. People are buying at the top. You might buy at the top.

There is no "feel". If you think you can time the market, you are wrong. It really is that simple.

What you're talking about is trading, whether you know or acknowledge it. Buying and selling in hours or days is trading. Trying to time the market is trading.

Anyone who is posting here for more than a few days has tried it, and failed at it. The only successful tactic is HODL.

There are people who are professional traders and some of them might be making money but if they are doing it they are working their asses off, 24/7 and grinding out a margin, but it's hard work.

How do you become a Millionaire Crypto Trader?... Start out with a Billion...

I dont know what to tell you man. Ive made money, not as much as i could have bit ive made money.
Telling people to hold as it plummets isn't great advise.
If you want to take profit then take it

EndaHonesty

seannash wrote: »

I dont know what to tell you man. Ive made money, not as much as i could have bit ive made money.
Telling people to hold as it plummets isn't great advise.
If you want to take profit then take it

I've made money too. I have 12.5 BTC that cost me around 2000 EUR. I still have all of them. HODL works.

Do I think that was anything other than luck? No.

You don't become wealthy by selling...

seannash

EndaHonesty wrote: »

Go on so... I hope you are successful...

Hahaha right man. I can see that I'm annoying you because im not some noob whose been in the crypto game a hot minute. Take care.

EndaHonesty

seannash wrote: »

Hahaha right man. I can see that I'm annoying you because im not some noob whose been in the crypto game a hot minute. Take care.

You're not annoying me, I'm just trying to pass on some experience. As are all the guys who say trading is a bad idea.

Sometimes other people are right.

Whelo79

If you've been in since 2015 you must be holding a **** load of BTC and ETH. If not you've done some poor trades.

Getting in on one pump of a meme coin does not a good trader make.

seannash

Whelo79 wrote: »

If you've been in since 2015 you must be holding a **** load of BTC and ETH. If not you've done some poor trades.

Getting in on one pump of a meme coin does not a good trader make.

I didnt say that getting in on a pump made me a good trader. I was saying that i didnt hold it til it went to where its at now.
And no im not holding a ton of bitcoin now. I actually only held bitcoin to buy alts. Siacoin and neo where my first coins. Should i have bought bitcoin? Absolutely. Bit i bought what i bought and got out when i made the amount i was looking to make.
Happy to admit i sold all and bought a car that was needed at the time. Since 2018 I have been putting in spare money and ive done alright.
Telling people not to sell osnt good advice. Sell of you want to sell. Sometimes profit is needed at different times in peoples lives.

Whelo79

seannash wrote: »

I didnt say that getting in on a pump made me a good trader. I was saying that i didnt hold it til it went to where its at now.
And no im not holding a ton of bitcoin now. I actually only held bitcoin to buy alts. Siacoin and neo where my first coins. Should i have bought bitcoin? Absolutely. Bit i bought what i bought and got out when i made the amount i was looking to make.
Happy to admit i sold all and bought a car that was needed at the time. Since 2018 I have been putting in spare money and ive done alright.
Telling people not to sell osnt good advice. Sell of you want to sell. Sometimes profit is needed at different times in peoples lives.

Who said not to sell some profit if people need it for their lives? You've been talking about selling and buying back in at a lower price. People have been advising that it's not always that easy.

seannash

Whelo79 wrote: »

Who said not to sell some profit if people need it for their lives? You've been talking about selling and buying back in at a lower price. People have been advising that it's not always that easy.

Fine bad example. Ive sold and bought in after its dropped. Guess thats all o can say on the matter.

grindle

seannash wrote: »

Just to pick up on this. Why cant I just sell as it falls. I'm in crypto for the money, if it drops I sell. I dont understand why this is frowned upon.Sell and buy back in when its levelled out, not sure why that strategy isn't allowed.

You can if you want. Guesswork. As it falls from where? Be precise. We'd all be billionaires if you could be precise.

There are less than 30 days in Ethereum's existence where you could have bought at a bad time (ATH zone). There are over 1900 days since where you could have made terrible decisions guessing the tops and bottoms. How lucky do you think you are?

Buying and holding has been safe, sometimes I splurge small amounts (look at the recent ZKS chart since Jan 12th when I mentioned them here) but it's best to stay safe.

I've earned money from some things, lost less on others, but overall all I want is more ETH and I'd never ever trade the majority of that stack unless there was a calamity - even then that calamity would lead to a fork. If there was a fork there's an opportunity to sell and buy more of which one I like (the market does this with BTC forks regularly).

Don't become overconfident in your trading nous in a bull market because the market is well overbought. I say this whilst still thinking it'll double or triple over the course of the current year - it's currently overbought. People aren't using it for transactions, they are hoarding it.

Irish_rat

seannash wrote: »

Fine bad example. Ive sold and bought in after its dropped. Guess thats all o can say on the matter.

Its a pain to try and buy back in lower imo. Good chance it could hit 2k and stay there for months.

KilOit

Can't do anything anymore with the gas fees they way they are, gone are the days of moving coins around for a couple of cents, can't even trade small coins anymore with $30 transactions fees.
What's the point of it all, feel like selling most of my crypto, how can it continue to function like this, ETH 2.0 is way off

Dante7

KilOit wrote: »

Can't do anything anymore with the gas fees they way they are, gone are the days of moving coins around for a couple of cents, can't even trade small coins anymore with $30 transactions fees.
What's the point of it all, feel like selling most of my crypto, how can it continue to function like this, ETH 2.0 is way off

I know. It's even too expensive to move small bags off an exchange, so I end up leaving them there cluttering up my spot account.

Bodjhrjekekr

On a good run today

stockshares

KilOit wrote: »

Can't do anything anymore with the gas fees they way they are, gone are the days of moving coins around for a couple of cents, can't even trade small coins anymore with $30 transactions fees.
What's the point of it all, feel like selling most of my crypto, how can it continue to function like this, ETH 2.0 is way off

Use Looprings L2 exchange or wallet for very low fees and extremely fast swaps .

If you to find out about it go over to it's Discord Group.

unkel

stockshares wrote: »

Use Looprings L2 exchange or wallet for very low fees and extremely fast swaps .

If you to find out about it go over to it's Discord Group.

It's not the exchange fees or the exchange transaction times that are the problem. It the high Ethereum blockchain gas fees. No exchange can do anything about that. The current difficulty is quite low and those gas fees are not bad at all for the miners

That said, ETH close enough to ATH today again already, wouldn't be surprised if it set a new one today or tomorrow.