Crypto----thoughts going forward

[JParis]

I am curious as to others thoughts on the crypto markets moving forward...

Bitcoin has gotten very large, though it would be difficult at this point to make a large move without substantial investment. I am wondering what others might see as potential avenues...

I am looking at

Ethereum
Cardano

as potential growth targets...

[RobertELee]

I'm usually a day late, a dollar short, and hop on the wrong bus. I'm just letting the 1 litecoin purchased a few years ago collect dust. However some are predicting it to hit $10000 by 2025 so we shall see.

[Jim at Gentex]

There are so many coins out there that it's tough to pick the winners, much like the stock market.

Syscoin is stable and steadily rising.
Having their own blockchain is a big plus that separates them from most.

But at the end of the day it's still a guessing game as to which coins take off and which ones stagnate.
My Mrs. and I have small investments going in Digibyte, Dogecoin, and Syscoin, and we are way ahead on all three.  

Just like diversifying a stock portfolio, investing in a few different crypto options makes sense.  

[byte]

If you want to get in cost effectively on bitcoin, buy a few miners and put them to work!
Euretherum mining is very profitable right now, but thats for a limited time

[mattq]

I'm in Bitcoin and Ethereum I think $ETH is going to get more steam in the next few months.  Visa just approved it for a form of payment.

https://www.forbes.com/sites/ninabambysheva/2021/03/29/visa-to-start-settling-transactions-with-bitcoin-partners-in-usdc/?sh=dff3fba5228c">https://www.forbes.com/sites/ninabambys ... f3fba5228c">https://www.forbes.com/sites/ninabambysheva/2021/03/29/visa-to-start-settling-transactions-with-bitcoin-partners-in-usdc/?sh=dff3fba5228c

[RobertELee]

[quote="Thee Byte™" post_id=9428 time=1618240296 user_id=50]
If you want to get in cost effectively on bitcoin, buy a few miners and put them to work!
Euretherum mining is very profitable right now, but thats for a limited time
[/quote]

I'm still curious, is the amount of money gained greater than the electricity and maintenance costs involved?

[byte]

[quote="Thee Byte™" post_id=9428 time=1618240296 user_id=50]
If you want to get in cost effectively on bitcoin, buy a few miners and put them to work!
Euretherum mining is very profitable right now, but thats for a limited time

I'm still curious, is the amount of money gained greater than the electricity and maintenance costs involved?
[/quote]

That would depend on the cost of electricity where you live, and the efficiency of the miner.
If you are using a PC for sure you will lose money, prefer new ASic miners, if you can get an S19, should be good for 20$ a day or so, an s9 will get u a 1$ a day after electric.

[mattq]

Are those modern miners loud?

[byte]

Are those modern miners loud?

Yes, extremely loud, like an old vacuum cleaner.

[byte]

The noise varies according to temperature, so if you can keep the room cool, its less noise.

[Jim at Gentex]

[quote="Thee Byte™" post_id=9440 time=1618253686 user_id=50]
The noise varies according to temperature, so if you can keep the room cool, its less noise.
[/quote]

Yup.
Many people set them up in their garage or basement to help keep them cooler and reduce the noise in the house.

[Dan_AKA_ROY23]

F'ing Coinbase going public today. ticker: COIN

(well, I used the F word - sort of - since this is in the Outhouse)

[gcode]

One side effect of the crypto mining craze is what it's done to memory and video card prices

I bought a Quadro RXT4000 for my home workstation in Dec 2019 and paid $780 for it from Amazon.com

This morning one of my programmers blew the video card on his 8 year old PC.
I googled the RTX 4000 and got a shock.
They were running from $1050 to $1350!!!

I also got a quote from BOXX for an overclocked i9 with and RTX4000 and 64g of ram and a 500g PCIe SSD
It came in at $4700 less a $500 promotional discount at $4200.

From here, it's out of my hands.
I've been trying to get this guy a new machine for a couple of years.
Maybe I'll finally get it done

[Dan_AKA_ROY23]

One side effect of the crypto mining craze is what it's done to memory and video card prices

I bought a Quadro RXT4000 for my home workstation in Dec 2019 and paid $780 for it from Amazon.com

This morning one of my programmers blew the video card on his 8 year old PC.
I googled the RTX 4000 and got a shock.
They were running from $1050 to $1350!!!

I also got a quote from BOXX for an overclocked i9 with and RTX4000 and 64g of ram and a 500g PCIe SSD
It came in at $4700 less a $500 promotional discount at $4200.

From here, it's out of my hands.
I've been trying to get this guy a new machine for a couple of years.
Maybe I'll finally get it done

More likely the chip shortage, Tom. Not crypto mining. (I could be wrong..)

So much demand for semiconductor chips in 2020 has shriveled up the supply chain. They'll be behind a couple years I think before 'order is balanced once more'. Foundries, plants, etc. need to be built. Car industry in a bind. Cell phones. Laptops. And the other hundred techno gadgets.. This may be more serious and markets may be under reacting....for now. (wait and see)

[Jim at Gentex]

The Bitcoin mining pools have gotten so big it's almost impossible to make money.
It CAN be done, but it's not nearly as easy as it used to be.
And yeah, you have to really consider the cost to run the miner(s) vs. the profit you will make.

With Coinbase going public everything shot up big today.
Earlier today DOGE was up over 55%!!  :w00t: