Wow. Bitcoin is almost $1,500

[Red Storm]

I would not spend a dime on GPUs. You're going to be stuck with them. Everyone knows everyone is using their GPUs to mine, who's going to want to buy a 2nd hand card that's been running full throttle for way longer than typical use? Nobody, or at least not at a good resale price. And as Zeze said, every dollar put into VEN is (and will continue to) outperform money spent on GPUs.

That's how I feel anyhow.

 

[Ns1]

I would just like to point out that GPU's can be purchased on credit while crypto must be purchased w/ fiat. Therefore, the options are not mutually exclusive.

 

[Zeze]

I would just like to point out that GPU's can be purchased on credit while crypto must be purchased w/ fiat. Therefore, the options are not mutually exclusive.

What do you mean GPU can be purchased on credit while crypto is flat?

You can buy crypto with credit card.

 

[[DHT]Osiris]

What do you mean GPU can be purchased on credit while crypto is flat?

You can buy crypto with credit card.

You can also just take out cash advances.

Note: Don't buy crypto with cash advances.

 

[Red Storm]

You can also just take out cash advances.

Note: Don't buy crypto with cash advances.

Or GPUs for mining.

 

[destrekor]

What do you mean GPU can be purchased on credit while crypto is flat?

You can buy crypto with credit card.

Credit card companies are actually starting to prevent crypto purchases on credit.

But honestly, whether or not something can be purchased on credit should never be any kind of decisive factor. In reality it can be, but we really shouldn't be upset when you can't buy something on credit. You can't pay for gambling with credit, and you certainly can't buy typical investments with credit, it's gotta be cash from a non-credit account. Granted you could do a cash advance, transfer to bank account, then buy whatever investment vehicle you want, but that's no different than the situation slowly evolving in crypto-land.

 

[Zeze]

Agreed.

The only exception is that you know you have more than ample cashflow in the immediate future and you need to urgently buy.

 

[Ns1]

But honestly, whether or not something can be purchased on credit should never be any kind of decisive factor. In reality it can be, but we really shouldn't be upset when you can't buy something on credit. You can't pay for gambling with credit, and you certainly can't buy typical investments with credit, it's gotta be cash from a non-credit account. Granted you could do a cash advance, transfer to bank account, then buy whatever investment vehicle you want, but that's no different than the situation slowly evolving in crypto-land.

Correct me if I'm wrong, but if you can get 0% interest on credit then you can buy GPU's with 0% interest and pay the installments with mining earnings (if desired) until breakeven. As long as 0% interest period > breakeven period, what's the harm?

Meanwhile you can take that precious cash that you're not spending on GPU's and actually dump it in crypto.

 

[destrekor]

Correct me if I'm wrong, but if you can get 0% interest on credit then you can buy GPU's with 0% interest and pay the installments with mining earnings (if desired) until breakeven. As long as 0% interest period > breakeven period, what's the harm?

Meanwhile you can take that precious cash that you're not spending on GPU's and actually dump it in crypto.

Not a bad idea.

 

[Zeze]

Nano soared 50% in a single day today. People are going nuts

 

[Ns1]

Wtf is going on with Ven?

 

[ultimatebob]

Wtf is going on with Ven?

Looks like it’s doing up and down in a typical pump and dump fashion. You can find price charts that look like that for dozens of altcoins throughout recent history.

 

[dasherHampton]

Just to clarify, since I know nothing and have zero experience:

If I had bought a bitcoin around $8500 when I made my initial post I could have easily sold it for $11,000 when the price jumped?

No hoops to jump through? Are buy/sell transactions immediate or does a seller have to wait for an appropriate buyer to be located?

 

[momeNt]

Just to clarify, since I know nothing and have zero experience:

If I had bought a bitcoin around $8500 when I made my initial post I could have easily sold it for $11,000 when the price jumped?

No hoops to jump through? Are buy/sell transactions immediate or does a seller have to wait for an appropriate buyer to be located?

They are basically immediate because the market has high liquidity.

If you go through Coinbase, you also have the same account created for you at GDAX, which is free ACH withdrawals, so, you would sell yout BTC for USD, and withdraw it. The only "fee" is the bid/ask spread when you place a market order.

 

[dasherHampton]

Interesting. I might start playing around with this.

If it drops below $9000 I'm in for two coins. I've read that a "hardware wallet" is the safest way to store crypto. Do I need to acquire one?

 

[zinfamous]

holy shit guys I caught a unicorn

MSI Gaming Radeon RX 570 256-bit 8GB GDRR5 DirectX 12 VR Ready CFX Graphcis Card (RX 570 ARMOR 8G OC)
Sold by: Amazon.com Services, Inc.
$319.99

Good job, brah. You paid $320 for a ~$150 card. 😀 (remember when 470s could be found, rather easily, for about $120?)

 

[FelixDeCat]

Good job, brah. You paid $320 for a ~$150 card. 😀 (remember when 470s could be found, rather easily, for about $120?)

You think that's bad? How about paying $20,000 for a $10,000 BC?

 

[Crono]

Interesting. I might start playing around with this.

If it drops below $9000 I'm in for two coins. I've read that a "hardware wallet" is the safest way to store crypto. Do I need to acquire one?

No, paper wallets are the safest way to store crypto. Just keep multiple copies somewhere safe, preferably one off site in case of fire/flood/other natural disaster, and physically secured.

You should only get a hardware wallet if you need to make send/receive transactions frequently and aren't HODLing. Even then I personally prefer having light client wallets where possible on a secure machine. Hardware wallets from new companies aren't my thing as they can fail. As an additional backup they are okay.

 

[Ns1]

so close I can taste it.

Balance
0.14321112 ETH

 

[ultimatebob]

so close I can taste it.

Balance
0.14321112 ETH

Ooh, party at NS1’s house! Hookers and blow for everyone!

 

[ultimatebob]

You think that's bad? How about paying $20,000 for a $10,000 BC?

I once paid 0.75 Bitcoin for a flashlight back when they weren’t worth much. That (now $7,000) flashlight only lasted a year before it broke.

 

[Cappuccino]

im new to mining what is this? how do i apply? what qualifications do i need? do i need to buy my own protective hat and my own pickaxe?

 

[Ns1]

im new to mining what is this? how do i apply? what qualifications do i need? do i need to buy my own protective hat and my own pickaxe?

You'd have better luck getting rich by betting on the Argentinian soccer team.

 

[destrekor]

I once paid 0.75 Bitcoin for a flashlight back when they weren’t worth much. That (now $7,000) flashlight only lasted a year before it broke.

Try being the guy who was the first to ever order a pizza with BTC. It was something like 10k or 20k BTC, for a pizza order. That guy recently bought pizza again with BTC (on the anniversary of the first pizza), and was the first to ever do it over the Lightning network. In the background of a video with him is what looks like it could be quite the home. I doubt he's hurting too much over the 10000+ BTC, probably had way more where that came from and held some.

 

[Cappuccino]

You'd have better luck getting rich by betting on the Argentinian soccer team.

LOL you still remember 🙁