Crytpocurrencies!!! - Bitcoin, Etherum, Litecoin, Bla bla bla

[FunStick]

This post got inspired by an in game convo with a few us while we were getting owned in the server. 

So........................  A few of you are interested in Crypto!   Tis a dangerous area of finance. Markets are extremely volatile.  I have gotten rekt so many times that i learned from my stupidity and thinking i am a elite trader when I was just a mini chump on the scale.  However, through out the years i have smartened up a bit.   Here is some light imma shed on a few of you who are new to the cryptoverse.

 

1.  If you are going to invest in Crypto, don't be a weak bitch.  It is going to go up, it's going to go down,  and it will go all around to make your head spin and heart skip a few beats.  Don't worry, Don't sell, and just hold

2.  If you do buy crypto, buy into the right ones.  Look at the projects and teams that are backing them up.  Here is my list of promising ones  ( not complete)

BTC, ETH, LINK, ADA, LTC, EGLD (one i am after), UNI, COMP, CELO, DOT, and a few more.

3. Don't fall for lending scams, and get rich quick bullshit.  I personally use a crypto savings account - The following are the only legit ones I know of that are regulated.  Blockfi, Nexo, Celcius, and Youhodler  I have the first 3, and American's can't get into Youhodler.  

4.  Remember not your keys not your cryto but the above are fine for investing and earning more of the coins. 

5.  Youtube University is great. I watch Lark Davis, and Bitboy (ben) on Youtube a lot and look at their research.  THey are cool dudes but they are also pump and dumpers.  So pay attention and read between the lines. They are not bad people

6. Prepare to get your ass handed to you.  If the value of your 100 dollars worth of whatevercoin you buy goes to like a dollar (DO NOT SELL).  just fucking hold it and buy more (Dollar cost average)

7.  There are only a few exchanges i use to buy my crypto and they are Gemini (trader pro), Coinbase Pro, Binance (used to), and Kraken.  Rest are so so but i know these well

8. Don't day trade unless you are good.  I suck at it so I just buy and hold like a little bitch.  I tried doing futures and lost my 20 bucks. I was mad as hell.  so, i just buy at a dip, and hold it.  Using the crypto interest accounts, I accumulate and compound. 

9. Crypto is taxable in some places.  So if anyone of you are in a crypto tax free country, then fucking help an XI brotha out.  I want to buy more but without paying taxes.  

10.  Fuckkkkkk youuuuuuuuuu (just kidding)   Don't be too greedy, and be like an old turtle. Buy, accumulate, hold, and reap the rewards later on in life.

11. Mining - I don't mine and when I used, to my computer used to get really messed up.  So, if you want to mine, then do it on a asic, and or use a VM.

12.  BACK YOUR SHIT UP.  I had 1k bitcoins years ago that i bought for like 500 dollars.  I lost the fucking key to it and now im stuck poor forever.     So, your backup needs a backup and don't share your shit.  Make complex passwords with letters, symbols, and numbers at least 8 to 12 chars long

13. Research a lot and if you have any questions, i wil gladly answer them to the best of my ability.  

14.  This information is not free, so I am charging hugs and booty grabs. 

15.  Fuckkkkkk youuuuuuuuu

[J3st3r]

I hope someone hacks the damn thing and it gets banned. Maybe then I can afford to buy a decent video card.

[KaptCrunch]

digital money that just another pyramid scheme

sucker born every minute as history shown us  with  them  busting

https://abcnews.go.com/Business/arrested-alleged-722-million-cryptocurrency-ponzi-scheme-targeting/story?id=67655393

 

[kenmen]

10 hours ago, Funstick>XI< said:

I had 1k bitcoins years ago that i bought for like 500 dollars.  I lost the fucking key to it and now im stuck poor forever. 

Mateee you could have been set for life! What a shame 

I've started trading in Crypto 2 months ago using Coinbase. Still learning so not very large amounts yet (started with 1000) but still making a nice profit with it (up 70% overall). I probably shouldn't but i do day trade. It can be pretty handy especially the last couple of days because the market is going crazy. Loads of new investors pumping up all the coins. Gotta make sure i get out of the bad ones before they crash down. 

If things keep going well i'm probably gonna invest some more, but the market is a bit too crazy to do it now  

Oh and for other new investors: Don't fall for the pump and dump scams. If you see something on social media, mostly twitter or reddit, about everyone buying the same coin don't buy it!! You are already too late. This happened with XRP yesterday and loads of new investors got fcked. 

Trading crypto is more of a hobby for me tho. Who know i might get lucky, i might lose it all. Only invest money you're willing to lose 

Thanks for the tips @Funstick>XI< wonder what you're gonna charge me  

 

[RobMc]

As my Grandad used to say 'If you can't hold it, it ain't yours', seems a great way to lose money, send Rob $1000 and I'll give you some good advice.

[GoatSlayer]

I play around with BitCoin a bit but don't get too deep. It's just to sketchy and volatile to count on. I did make some money on the jump to 34k as I bought in at 8k but I am out of it at the moment. Gonna spend more time learning to day trade the normal market for a  bit just to learn/earn some fun money.

[Majbasil]

As I was raised by my brilliant dad to invest for the future, but invest wisely, I will give you this advice... If you have that pyramid scheme stuff, dump it asap, and never, ever get any fake stuff again.  Don't watch that fancy, shiny ball, it is fool's gold.  All investing is pretty much gambling to be honest, so buy that which is real, that which adds value to society and the world in general.  2 cents  

[piglo]

I think  you might want to start with PiggyCoin!

https://piggy-coin.com/

 

I also like me some Dogecoin!

https://en.wikipedia.org/wiki/Dogecoin

 

 

[KaptCrunch]

bait coins 

but still a pyramid

no offence Piglo

black market money to evade taxes 

Dogecoin experienced its first major crash by dropping by 80% due to this event and to large mining pools exploiting the small amount of computing power required at the time to mine Dogecoin.

Edited February 2, 2021 by KaptCrunch

[FunStick]

Not all of them are shitcoins or ponzi schemes.  Just do research..

 

 

[J3st3r]

There was talk of banned cryptocurrency all together in some countries not to awfully long ago. Is there some sort of bitcoin insurance? What if someone were to dupe all Bitcoin holders out of their cryptocurrency? Elon Musk, Kanye West and Bill Gates got hacked just this last July. 

 

have a Look at this shit. WOW?  https://twitter.com/whale_alert?ref_src=twsrc^google|twcamp^serp|twgr^author

 

Edited February 5, 2021 by J3st3r

[piglo]

Doge is the answer:

https://twitter.com/elonmusk/status/1357244295091208193?s=20

[Tron]

Nice work on the original post @Funstick>XI< ....I am guessing many of the comments in this thread dismissing Bitcoin as a "pyramid scheme" haven't spent any time actually learning about it. So if you have a genuine interest in learning why Bitcoin will be important going forward, read this article: 

https://www.lynalden.com/misconceptions-about-bitcoin/

[MikeB]

Crypto mining is the way to go.  Set up a dedicated miner system and let it go.  I did a huge amount of research a few years back when it was crazy.  I had it broke down by video card.  Which card would earn the most and the amount to expect.  My father and I were going to set up a small mining farm, but life kept that from happening.  I will see if I can find that thread and repost it here.   

 

Found the thread.  We were discussing the price of video cards going through the roof because of mining.  This thread is a couple years old.

Prices will come back down in a few months.  Mining for cryptocurrency with "PC" rigs will slow down, now that the price of bitcoin and others are dropping.  Plus the latest ASIC Miners are getting more efficient than PC rigs and ASIC miners are easier to setup.  But they are pretty damn loud.  More people are doing "Cloud Mining" ( I being one).  With cloud mining your renting ASIC miners, that these sites maintain for a percentage of your profit.   Now when ASIC Miners and/or video card rig prices settle down, I may build my own miner or buy an ASIC Miner.  At current values (hash rates, difficulty rate and bitcoin price) a single Radeon 570 pc rig would earn around $3.00 - $3.50 per day (after operating costs).  Thats $1,095 profit a year.  Now build a PC rig with 6 Radeons would earn you $6,570 profit a year (at current values).   A 6 card pc rig would cost roughly $1750 to $2,000 to build.  After 4 months the rig is paid for.  Now the latest ASIC Miners can earn you up to $250 a week or $13,000 per year.  At current levels.  But they cost around $6,000 to buy.   An ASIC would pay for itself in 6 months.  So in the long run ASIC's are the way to go.  I predict bitcoin will be around $5,000 per coin in about a month (if not sooner).    And with the governments around the world on the fence about cryptocurrencies, that alone is making shit volatile.     Now if the governments come to a consensus and acknowledge cryptocurrencies, well one could see bitcoin shoot up to $100,000 in a few years.  But then again, they could all go belly up !!  Very interesting and unpredictable investment.

Edited February 5, 2021 by MikeB

[Tron]

[Sikon]

 

[Sikon]

BTW, I mine Pi Network for free. Add me to your network. 

Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/PiEnvy and use my username (PiEnvy) as your invitation code.

[Shadow]

I've been into mining for years.  about 10 years ago I sold all my btc, about 23 of them for $300 a piece, and walked away pretty happy...now that it's around 50k each, I'm not so happy about it 

I recently started mining again.  I have an 580 mh/s asic scrypt miner that makes about $4 a day, $2 after the cost of electricity.  And I also mine on my video card for a about $2 a day.   I would really like to build a GPU rig, but I can't find decent video cards anywhere...  Anyone know where to get 30 series Nvidia cards or 5700 xt or better amd cards, I'm looking!

[MikeB]

37 minutes ago, Shadow said:

I've been into mining for years.  about 10 years ago I sold all my btc, about 23 of them for $300 a piece, and walked away pretty happy...now that it's around 50k each, I'm not so happy about it 

I recently started mining again.  I have an 580 mh/s asic scrypt miner that makes about $4 a day, $2 after the cost of electricity.  And I also mine on my video card for a about $2 a day.   I would really like to build a GPU rig, but I can't find decent video cards anywhere...  Anyone know where to get 30 series Nvidia cards or 5700 xt or better amd cards, I'm looking!

Have you seen the Mining motherboards that are out there.  Crazy amount of video slots.  19 card slots on this one.   How noisy is that asic miner ?

 

Edited February 19, 2021 by MikeB

[Shadow]

1 hour ago, MikeB said:

Have you seen the Mining motherboards that are out there.  Crazy amount of video slots.  19 card slots on this one.   How noisy is that asic miner ?

 

Yep I've seen that.  The gpu's are so damn hard to find tho   The asic is fairly loud,  I keep it in the basement and you can faintly hear it on the first floor.

[MikeB]

19 minutes ago, Shadow said:

Yep I've seen that.  The gpu's are so damn hard to find tho   The asic is fairly loud,  I keep it in the basement and you can faintly hear it on the first floor.

How much bandwidth do they use ?    You check ebay for cards ?

Edited February 19, 2021 by MikeB

[Shadow]

3 hours ago, MikeB said:

How much bandwidth do they use ?    You check ebay for cards ?

the asic doesn't use much, I haven't actually checked but i can't tell.  I paid like $250 for it on ebay, and just got it up and running a couple days ago.  I just wanted to mine some new alt coins, hopefully b4 they hit an exchange, but haven't really seen any that interest me.  I'm mining on prohash right now for litecoin and a few other alt coins.  lol yeah ebay and anywhere else wants 3x the msrp for anything.  a few 3060ti's would make me happy to start with but I'm not paying $1200 for a $400 card.

[MikeB]

19 minutes ago, Shadow said:

I paid like $250 for it on ebay

 

Damn $250 for an asic miner !!  Ones I was looking at where $6000.   That was 2 years ago.

[Shadow]

11 minutes ago, MikeB said:

 

Damn $250 for an asic miner !!  Ones I was looking at where $6000.   That was 2 years ago.

Yeah, this sold new for 2500, but ya had to buy 100 of them..  lol.  There are some much better ones then this but I'm pretty happy about it.  it's a BW L21, says 585 mh/s but only shows around 530 at the pools and has a 950w power supply.  Back when I started I had 2 gpu rigs that I mined alt coins on at like 35 mh/s and traded for btc.  That is my goal now, but everything seems harder to do  

[MikeB]

More miners, less chance you are part of a transaction.