Yes! Wow it's almost like 1 : 1 for the dollar. Actually a bit better.

I use Brave browser so that's where all mine comes from. I don't have a lot to get excited but enough it has my attention now.

Looks like everyone has been talking about the stimulus package and people buying into crypto. I've seen those articles too.

This can be good and bad. It will probably pump the market up when everyone buys, but yes there will be some adjustments and people will probably be cursing their decision out because they are "feeling" and not "thinking".

I wonder if crypto will eventually enter a "great depression" in the coming few years and then rebound. History repeats itself and crypto is still really young. Long terms seems promising but we might have some bumpy roads in the near future. All speculative of course and this is me speculating.

I'm all about dollar cost average. 1) It's smart 2) it keeps me out of trouble from buying too much at once. I only invest what I mine. Either it's mined in the same coin or I trade it. It's kind of hard not to buy heavy now though haha.

Woah, I didn't know about Coinbase pro at all. Is there a fee for transfering your coins from Coinbase to CB Pro?

No fee

Thanks! Just moved most of my stuff to Pro. MKR and GRT wouldn't move and I left ATOM since it's earning 5% apy, which it looks like it doesn't on Pro.

Cardano has held its price jump from yesterday, so that strength is nice to see.

I noticed this morning that LINK had a nice jump too last night. Looking at it, I think its because of this:
Grayscale Investments is offering new trusts to invest specifically in five different cryptocurrencies
$BAT $LINK $MANA $FIL $LPT

I just saw that, which I'm loving. I bought BAT @ $0.63, LINK @ $0.48 and MANA @ $0.16.

Of course I didn't buy enough of them, but at least I'm up.

https://www.coindesk.com/grayscale-offers-new-trusts-to-invest-in-five-more-cryptos-including-filecoin-chainlink

Wowza! Nicely done!

Thanks. My cost basis is actually -$1.47 and I'm up 2,046% on the purchase. If I had only bought more I'd be retired. Ugh.

I got a kick out of this one.
86687031wtmk.jpg

Yeah got my electric bill from February where I mined half the month. Not gonna lie it looks suspicious from year over year and monthly increase.

has there been any accidents / tragedy around home mining setups? I know from police officers that home grow ops had a history of electrical issues and fires, so one small benefit of marijuana legalization has been the reduction there. (still more than enough meth/drug cooking accidents still, mind you)
Most mining stories I hear feel like urbans myths, and always hearsay.

Accidents from growing mj versus mining are going to be different but the most common that I hear about are issues with PCIe riser cards burning from overcurrent when the end user has them connected via SATA power. Unfortunately a lot of these parts are just sold as parts and don't come with instructions. What the designers failed to realize is the current draw from GPUs are much higher than a hard drive and the SATA connector wasn't designed to hand that much draw.

If you connect this way best case scenario you have a small mini fire within hours of hooking everything up. A number of people have fessed up to this in the comments section on YouTube

People who don't pay attention to power requirements will get into trouble faster and that goes for everything electrical, even pinball as we see with GI connectors from years ago.

But with mining I think there are so many combinations of setting up your computer and power distribution its super easy for people to be like "well it looks like I can do it this way" and be fine....but they aren't.

That's the thing about these small devices drawing down on power, they have a tendency to sneak up on you. If you plug in two too many hair dryers or toasters on a circuit it will just pop. Start adding a few too many GPU's or use cheap or wrong connectors, things will work fine on power up but problems will creep up on you.

I got my finger scratched by a moving fan once.

Just kidding. I haven't heard of anything. Most components have a thermal protection circuit that will kick in if they overheat.

Is mining really more profitable than just throwing money at it? Or is just the technical "thrill" of it?

never knew there was a coinbase pro

You can save a good bit in fees. I bought some BTC this morning and the fee through Coinbase would have been $14 if I remember correctly. I bought it through Coinbase Pro and the fees were $3.98.

I'm glad I wasn't alone in this. I think I opened my Coinbase account about 8 years ago and really hadn't used it much until the last 6 months. I'm guessing the Pro version came about when I wasn't really using the account.

I haven't really run the numbers, but I know it's profitable when you consider electricity and hardware costs. A lot of people do it because they have a gaming rig setup already and can just mine crypto when they aren't gaming.

My rig mined 9.67 ETH, 2,017 RVN and 3042 SC over its life. I probably have about $1200 into it or so for the 3 GPUs. They are struggling though and are getting close to being put out to pasture.

The issue is you can't buy a GPU anywhere so I'm going to milk them as long as I can.

It used to be called GDAX back "in the day".

There is definitely some thrill in building your own computer/rig.

As it sits, you can get into it right now, but you'll be paying between 2x and 2.5x the retail price for graphics cards. There is speculation that once Ethereum goes PoS (proof of stake) everyone will dump their GPUs/ nobody will buy them. Last I checked there are more than a hand full of coins available to mine haha. (Decent GPU up to $600 was about $350 or $300)

For my recent builds I spent more money on the CPU because I wanted to maximize the ability to mine Monero. Basic CPU that is good for gaming is about 250-300 but I went for the Ryzen 9 that comes in around $500. Then add $100 if you want to overclock and give it a proper cooling system.

Memory about $100, a computer power supply $50 to $60 but if you want more than 2 GPUs on your computer you'll need a server power supply so that's $150 easy.

Motherboards easily around $95-150 for something respectable.

Accessories like PCIe risers and computer case about $50. You don't really need a computer case if you don't care. If you refurb a tower that saves some money. You'll want to replace the tower fan with something nice (and quiet) that's only $20.

You can get a SSD drive pretty cheap. SATA or M2 is fine. I like M2 it's less cables and less mounting to worry about. I am told Window's 10 Home Edition throws up a lot of wrenches if you try mining. I'm using Windows 10 Pro. Enterprise will work too. You'll need software/license key for that. I won't disclose what I'm paying for mine because I honestly don't know. I've been buying them alongside some other parts. But all of mine are legally licensed with the stickers to prove it.

NOW we can talk about an important cost.....electricity.

Right now I'm at $0.09 per kWh which is average and still makes it worthwhile. Starting in June we're looking at 12 cents per. At this point you better hope your coins appreciate. Anything more than this you might not want to bother. One computer with 1 GPU can easily be like having an incandescent 100w lightbulb on all the time. Maybe 150. My current estimates put each of my computers in at earning $120 a month assuming all the coins stay flat.

Hopefully you can math better than I can. If someone told me these coins wouldn't appreciate I wouldn't have done what I did.

Okay...thanks. I'll just keep throwing crappy fiat at it.

That's the spirit!!

I just added to my post above too since you replied. The way I see it, NVIDIA, Microcenter and X-Cel Energy can take all my TP/FIAT.

considering the heavy-hitter mining operations developed in the last few years alone, I'd love to see a breakdown of the economics of making it actually profitable at the smaller scales.
But I can totally see the hobbyist allure of it.

Its turning out to be a decently green day across the board.

I wonder what ADA will hit

Yeah, ADA sure is on a ride but I'm accumulating and HODL on this one (as I learned here)

I put most of my crypto into ADA, tomorrow will be fun but will waiting years before cashing in.

We can take some guesses here.... $1.50? $1.60? Coinbase listing is an inevitable bump, I might use it for a quick trade as there are good odds it'll retrace a bit after the excitement.

It’s always fun to guess. I think at some point tomorrow we’ll hit 1.72 US
That might be a bit bullish, even though I think the coinbase pro listing will be huge. I think that, along with Charles hoskinson’s presentation at the blockchain Africa conference, will be a one-two combo that really gets people fired up on Ada. I think his presentation is pretty late into the night though, so maybe the effects of that don’t hit until Friday.

Good guess. I think it'll hit 1.75 and then fall back pretty quick to 1.55-60.

@Binance users:

Does any of you know how "Pool" works?
I transferred some coins and let it sit for days but nothing happened.

binance pool (resized).png

You can send your ADA to coinbase pro now though. Once they have "enough" ADA on the exchange they'll open up ordering. There is a phased approached they explained, I think it usually takes a few days before they reach a point where you can fully buy/sell ADA.

I could send my Ada to coinbase pro. What’s the upside? Are fees that different than binance.us? I’m excited for the potential price pop but not sure why I would take the transfer them.

Trading is supposed to start at 12pm ET if there's enough liquidity to allow it.

If you have a Coinbase account, you have a Coinbase Pro account. You can deposit into Coinbase Pro just like you can with Coinbase. The interface is just different.

Keep in mind, I think you need more than the wallet address to transfer ADA. I've never moved it before, but I thought I read that you need both the wallet address and some type of reference code. I'm not 100% sure. Make a small transfer first just to be sure. That's always best practices.

Transaction fees are: a + b * size (in bytes) = fee.

Right now;

a = 0.155381 ADA
b = 0.000043946 ADA

So your fee will be dependent on the amount of data required of the network to send your transaction. a and b are constants but can be changed through the voting process as the price of ADA fluctuates.

A typical transaction is about 200 bytes so you can expect fees to run about 0.164 ADA or about $0.23.

I've moved most of my ADA from Binance.us to my adalite wallet. It's pretty much the same, copy an address from your wallet and paste it in the Binance GUI to send. No extra codes. There was a caveat about certain addresses only being accepted by CB Pro but if starts with a "1" that's the good one AFAIK.

The market buy/sell fees for both are 0.5%...Unless you are trading huge amounts.

Based on Leeb18509 saying it was 0.075%, I assumed he was trading between $100 - $300 million.

On a side note, I really miss the GDAX days when the Maker fees were 0%

Capture (resized).JPG

Doh, added an extra 0 to both. My bad. Was really just hoping to afford a JJP Pirates CE someday...

Sure you did. You're just a whale and aren't telling us.

True story, this morning I had a dream that I woke up and checked my balance and it was $74,000. So 2 JJP CE's.

Looks like trading opened and there's the typical initial dip

If the first five minutes is any indication, my prediction is going to be a little off haha.
I'm guessing this is a case of "buy the rumour and sell the news" currently for some.

If you look at some of the other recent coins that went onto CB, there was a jump, and then when actual trading opened on CB there is a dip, and then usually followed by another jump. MATIC for example.

I am a whale, in my mind ... but in Nemo's body

Wasn't ADA supposed to go up?