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[Deleted member 314246]

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[ultimatebob]

Geez.... don't we already have enough crypto currency threads in both the ATOT and Video Card forums?

Maybe if you labeled it something like "Bitcoin alternatives", so it's not filled with the daily Bitcoin price swing posts like the other threads.

 

[[DHT]Osiris]

Geez.... don't we already have enough crypto currency threads in both the ATOT and Video Card forums?

Given the breadth, not really. We probably could stand to have a CC section to get this stuff out of OT, P&N, and VC&G, but that's up to others to decide on.

What do you guys think of cryptocurrencies? I'ts 2018 soon, Bitcoin went up to around 20,000 recently, a lot of other currencies shot up significantly too.

Is there money to be made? If so, how? I recently met a guy who's really interested in them, but his thing is BitConnect, and that one seems like a scam in my opinion. Though I have not invested anything anywhere, but I want to check if it's even worth my time doing the research.

I'm not so interested in cryptocurrency as is because it isn't accepted widely, even though I do like the idea of privacy some of them provide (Monero for example, there are other coins I think, not BitCoin, Bitcoin is slow, has high transfer fees and isn't secure nor private). If stores and online shops started using a decent currency coin (again, not BitCoin), I'd love to use it. But until then, I am not interested in it. I'd rather read something else that I feel attracted to, and I do read a lot about a lot of things on about daily basis.

However if there is any money to be made, I can start investigating and doing so.

Frankly, I think we're either currently seeing a downward correction, or we're about to see a very large spike followed by a very large correction soon. I'd be much, much more careful in the coming weeks than previous. I just recently cashed out my holdings of BTC and misc other coins (thankfully yesterday, before the ~20% drop), I might buy back in if it swings up but this is very much a 'caveat emptor' situation.

Personally, I think BTC is doomed to fail, or become some kind of weird 'backbone' currency that doesn't truly get used much beyond setting the scale for other currencies (think 'gold' backing for USD). Other currencies look great for potential 'actual, real' currency. Beyond currency, blockchain is just a superb development, I expect much to be done with it in the coming years.

 

[pete6032]

Let's use the search function!

 

[Deleted member 314246]

Member

 

[purbeast0]

Here's to hoping there is a decent upswing in the near future. If I just get back to even I may just cash out. I have learned since this big dip that I don't really have the balls to go through all the highs and lows lol. At the same time though, when I put some money into it, I planned on doing it for the long run so I may just keep it in there too!

 

[[DHT]Osiris]

Not sure what ATOT is though... But I thought off-topic is the most fitting section to post this in.

ATOT is this section, 'AnandTech Off Topic' (ATOT). You got it in the right place, for whatever that's worth.

Yeah, I saw the drop soon after posting this... I wonder, what caused it? I mean, it's not just one or two currencies, it's all of them it seems. What could cause something like that?

Eh, some whale decides to offload some, causes a dip. More dips cause more dips, spikes cause dips, shift in the wind in Atlanta causes dips, who knows. Cryptocurrency trends tend to only be tangentially related to anything actually happening.

 

[Capt Caveman]

The forum could use cryptocurrency section, because I certainly am not interested in mining hardware (which is the only thing that should be in VG&G section) nor in software. Not sure what ATOT is though... But I thought off-topic is the most fitting section to post this in.



Yeah, I saw the drop soon after posting this... I wonder, what caused it? I mean, it's not just one or two currencies, it's all of them it seems. What could cause something like that?



I use it plenty on a daily basis. When I post, I always post because I haven't found what I was looking for. No exceptions, so no need to be a smartass.

Or you could use one of the other cryptocurrency threads.

 

[[DHT]Osiris]

Or you could use one of the other cryptocurrency threads.

Can I say this any time anyone makes a new thread about a new VC generation? Or CPU news, or whatever other topics end up in our myriad forums? Just throw it in one of the other threads? :\

 

[sandorski]

Was up to 20k, now down below 13k. Extremely volatile, buy at your own risk. Seriously, much better to Mine one of the Cryptocurrencies than to Purchase.

 

[Capt Caveman]

Can I say this any time anyone makes a new thread about a new VC generation? Or CPU news, or whatever other topics end up in our myriad forums? Just throw it in one of the other threads? :\

There is thread below this one that has had dozens of people posting in it with lots of information in it. This thread adds nothing new and you can learn from the other one. OP was nothing but lazy.

 

[Deleted member 314246]

Member

 

[Capt Caveman]

I could, but Osiris also has a point. At this rate, the administrator might just create sticky treads that would prevent anyone from creating new threads about anything relating to CPUs or VGAs or Cryptocurrency. I don't think that's how a forum works, at least not in my mind. But that's also a part of why I'm not active on any forums - people complaining about the things one posts. I feel that my question is specific and requires specific answers, and since it's cryptocurrency - the answers seem to change more often than I change my socks, and I change my socks quite often. Also, when I'm looking for info, I often find very old threads and they are just outdated, the links do not work, Windows has changed, software isn't functional anymore, something has security holes, etc., I could go on and on. But in this case, to me most important is how I feel it is and the fact that administrators seem to not have any problems with my view either (so far at least). So please, let's keep conflict out of this, and if you simply dislike such threads - just don't open them. Complaining doesn't lead anywhere but stress for everyone involved.



I was thinking of that too, but it seems not very profitable anymore. Bitcoin was very profitable if you were to mine using an ASIC miner (1,500-2,000 EUR to buy one and they're always out of stock). I looked into mining other coins and it seems that it would require a huge investment into equipment and you would only get back what you've invested in months if not years. Please correct me if I'm wrong - I'd love to get into this and make some money. Personally, I particularly like Ethereum and Monero. Other coins - I don't like so much. Especially BitCoin. I never liked it for some reason.

And since the other thread is much more active with very knowledgeable people, unless they come here to post, you're not going to get the answers you might be looking for compared to if you posted in that thread. Pretty simple. Why clutter up the forum when there's a very active thread already?

 

[sandorski]

I co...



I was thinking of that too, but it seems not very profitable anymore. Bitcoin was very profitable if you were to mine using an ASIC miner (1,500-2,000 EUR to buy one and they're always out of stock). I looked into mining other coins and it seems that it would require a huge investment into equipment and you would only get back what you've invested in months if not years. Please correct me if I'm wrong - I'd love to get into this and make some money. Personally, I particularly like Ethereum and Monero. Other coins - I don't like so much. Especially BitCoin. I never liked it for some reason.

Definitely need to Mine other currencies.

 

[[DHT]Osiris]

I was thinking of that too, but it seems not very profitable anymore. Bitcoin was very profitable if you were to mine using an ASIC miner (1,500-2,000 EUR to buy one and they're always out of stock). I looked into mining other coins and it seems that it would require a huge investment into equipment and you would only get back what you've invested in months if not years. Please correct me if I'm wrong - I'd love to get into this and make some money. Personally, I particularly like Ethereum and Monero. Other coins - I don't like so much. Especially BitCoin. I never liked it for some reason.

Mining bitcoin itself isn't very profitable unless you're working with ASIC miners, and even those are basically a race to the bottom.. ROI's depend on when you get your ASIC in, down to the *day* it arrives. Mining via pools, alt coins, etc are fairly healthy right now, and there's lots of ASIC-resistant coin algos which can net you a healthy profit over time. Now, a clairvoyant buyer/seller can make more on the market, but then again you could make more with the lottery too

I've been doing primarily mining via misc altcoins, originally through Nicehash, now via pool mining. It's treated me well, I've made my investment back and then some (not counting resale value of hardware).

 

[ultimatebob]

Funny... I remember telling people that Bitcoin mining wasn't profitable at the time back when it was around $100. I was right... if you were one of those people like myself who sold it was soon as they mined it. The money that you were getting from your mined Bitcoin at the time didn't make up for your power or hardware costs, let alone the time you spent setting it up.

Now, if you held onto that Bitcoin you were mining... that's another story. You could have made enough money (on paper) to buy a new house now. Of course, not many people did that. I'm not sure if I'd try it now, either, since I still think that Bitcoin's price is in a big speculative bubble right now and it could easily crash back down to $1,500 where it was a few months ago.

Maybe the time to buy your mining hardware would be after the crash, where everyone is selling their equipment at a big loss just to pay their electric bill.

 

[sandorski]

Funny... I remember telling people that Bitcoin mining wasn't profitable at the time back when it was around $100. I was right... if you were one of those people like myself who sold it was soon as they mined it. The money that you were getting from your mined Bitcoin at the time didn't make up for your power or hardware costs, let alone the time you spent setting it up.

Now, if you held onto that Bitcoin you were mining... that's another story. You could have made enough money (on paper) to buy a new house now. Of course, not many people did that. I'm not sure if I'd try it now, either, since I still think that Bitcoin's price is in a big speculative bubble right now and it could easily crash back down to $1,500 where it was a few months ago.

Maybe the time to buy your mining hardware would be after the crash, where everyone is selling their equipment at a big loss just to pay their electric bill.

lol, ya. I almost Mined BC when it was worth $4ish, but it had spike all the way to $15ish once. Would have cashed out so long ago.

 

[sandorski]

Timely and interesting discussion about Bitcoin.

 

[Ns1]

BTC = Tulips 2017.

Much props to those who got lucky.

 

[DaveSimmons]

Aside from darkweb and extremist libertarians, the existing coins will be bypassed in favor of corporate and state coins that are efficient in power use and transaction cost, designed for a much higher transaction rate, and regulated.

None of the existing coins control any patents or trade secrets, and much of the code is open source. So they control nothing and have no power to stop or profit from the big boys creating their own coins.

People can make money on the existing coins, but that's high-risk gambling not investment.

 

[Red Squirrel]

Seriously toying with getting into mining. Probably do an alt coin though. In the new year I have company shares that open up, I might take some of the money out to build a rig. My end goal is a rack mount box with 8 cards on riser cables optimized for cooling. The case will be custom. I'll start with 1 card though just to get a feel for it.

Personally I think all of this is going to be a huge bubble, but I could very well be wrong and may as well at least get in for a bit. The ones that really made bank are the ones that got in early though. I don't think there is room left to make bank like those people did. But you never know. I still need to read up way more on this stuff myself, I've only really scratched the surface in terms of reading/understanding it. There's a couple interesting alt coins now that may be worth looking at.

 

[ImpulsE69]

I will admit I regret not mining more 5-6 years ago. I only did it for a few days and decided it was dumb.....but also realize I woudl have sold them things when they hit $100. lol.

 

[cytg111]

I got some coin on bitcoin.. so far it has made a 10 times on the investment so I cant complain.. But in the grand scheme of things still chump change.. Its 1M or bust, I have made my peace if its a bust and I can wait some years just fine.
These downwards trends always happens and then BOOM a few weeks later... The cynic in me believes its getting manipulated for profit.. I would consider going in now if you are new...

 

[Red Squirrel]

Dang think I just found the perfect motherboard for mining:

https://www.ncix.com/detail/asrock-h110-pro-btc-intel-b4-141794.htm

12 pci-e slots!

Now to find a 6kw 12v psu.... lol. Going to need a 240v 30a twistlock plug for that.

 

[cytg111]

Dang think I just found the perfect motherboard for mining:

https://www.ncix.com/detail/asrock-h110-pro-btc-intel-b4-141794.htm

12 pci-e slots!

Now to find a 6kw 12v psu.... lol. Going to need a 240v 30a twistlock plug for that.

If you got free power go for it ... If I had free power I would be sucking that "free" power dry.