Fwiw- I started on Coinbase 12 days ago to kinda check out Crypto day trading. I went in with low expectations and didn’t drop much cash in to start.

12 days later (today), if I sold off everything, I’m at almost a 25% return. That’s good numbers. Not sure I’m ready to go full crypto, but definetly am going to up the ante in it.

From what I’ve read, Binance does have the lowest fees, and has a good reputation other than the backed up verification process

Are there any mining opportunities in any of these cryptos left for someone with a relatively basic gaming PC? The feasibility of mining BTC seems long gone, but I'm not sure if there are others that might be viable.

What GPU?

I'm mining RVN. I was mining ETH until the DAG went over 4GB and I couldn't mine anymore.

GTX 1070, so getting a little long in the tooth. I'm looking to upgrade to a 3080 once stock becomes available.

I'd mine ETH with that card assuming it's not a 4GB card. I don't think the 1070's came in 4GB, but wanted to throw that out there. Should be able to get about 26Mh/s from it. Estimated payout would be between 0.0022 and 0.0033ETH/day. Assuming $0.12kWh for electric, you should be able to pull in between $3.36 and $3.77 per day.

Thanks! I'm going to give it a try.

As a total noob on this, it looks like wallets provide the ability to mine? Any recommendation as to what one to select?

I've been waiting over a week for my USD verification. They have a manual process, it takes quite a while.

Looks like you can't trade fiat - crypto pairs without a cash verification? Wonder what that's all about.

Pretty standard, I had to go through the same type of verification with coinbase, kraken, etc.

I don't remember any type of cash verification with Coinbase. I had to do the AML / KYC stuff with my ID and linking it to my bank account, but I'm not sure what Binance means by "cash verification". Unless they are going to do the small deposit thing in my account for verification.

I started mining ethereum at the beginning of January. I created a wallet on metamask and currently mining on the ethermine pool.

Metamask.io
Ethermine.org

Basically you will download mining software & edit the miners batch file with your wallet information. Start the miner and go. I started with lolminer but then switched over to phoenix miner.

There is some simple step by step tutorials out there to help set everything up. And of course there is other pools you can use besides ethermine.

The wallet is just that, a wallet. Somewhere to store your crypto. My Trezor interfaces with MyEhterWallet (MEW), so that's what I use.

https://www.myetherwallet.com/

Once you create your wallet, you'll need to join a mining pool. I mined with Ethermine when I was mining ETH. Once you have all that setup, you'll need to actually setup the miner. A few things you'll want to be aware of when setting it up.

Make sure you change the wallet address in the .BAT file before you start mining to your own address. That way you aren't mining for someone else. Also, almost all antivirus software these days flags miners as malicious, so you'll need to add an exception for the software. There are a bunch to choose from so you'll need to do a little reading. From what I've seen lately, most people are running T-Rex or Phoenix. You'll want to research the associated dev fees and how well they work with your card.

Ah yea you're right it was just the ID check on the others. For binance, if I recall they basically just ask you some questions like how many transactions to/from your bank you expect to make annually, etc as they do the FIAT transfer through "prime trust" a separate entity. Level 3 - Answers to a Questionnaire (Purpose of Account, Source of Income, Association with Prime Trust, Anticipated Volume Fiat Deposits & Withdrawals, Anticipated Number of Fiat Deposits & Withdrawals)

So because binance uses this escrow company Prime Trust, you have to go through this extra step.

I've been verified...took a couple/few weeks. But I haven't used it yet...been too focused on BTC and ETH which I can just buy on Coinbase Pro. I have also been using Swan Bitcoin for DCA buying of Bitcoin. Works great, fee's arent bad and they will transfer to your hard wallet for no additional fee.

I'm just having problems wrapping my head around buying more BTC or ETH. The prices are really up there and we haven't seen much of a pull back since December. Every time I think it's going to pull back, it just keeps going up.

Good point on the antivirus. My browser blocked the download and I had a few issues with windows removing the miner's .exe file. Just need to make a few exceptions like noted above.

Deaconblooze
I should point out that the ethermine pool just raised their minimum payout threshold.

Previously you would get paid out after one week if you had mined a minimum of .01 ETH. This has now been increased to .05 ETH.

Note, ethermine will pay out daily IF you have at least .1 ETH. However this will only apply to much larger mining setups with multiple gpus/rigs.

Something to think about as its going to take some time for you to reach .05 ETH on just a single card.

There will always be pull backs, the question is how much.
My uneducated guess is that with more and more institutional investors buying up BTC; the downside should be more limited then in the past

BTC had a solid pullback like 2nd half of january. I bought in some at that time. ETH had some consolidation but never a pull back per se.

For whatever reason I feel like XLM is getting closer to pop.

I agree 100%, but the entire thing that scares me about this is the government coming in and doing what they do best......fu*&ing it all up.

I realize they can't ban it, but they can make it really, really difficult to use or convert to fiat.

I'm a hardcore crypto / blockchain advocate. I think some of the stuff in the works is going to turn out to be incredibly useful and I've been piling money into as much as I can. But there is always that lingering thought in the back of my head that Uncle Sam is going to swoop in and try to kill it.

I have been sleeping a little better at night now that companies like Tesla, Microstrategy, Overstock, Paypal, Visa, etc have been jumping on the wagon. They have a lot more firepower than we do if the government does decide to try and pull something stupid.

I hope! I'm in for 3002 XLM @ $0.154.

I appreciate the help! Does that mean that it will just increase the intervals at which the funds would appear in my wallet, or does it mean that I may not get a cut of a block at all if I don't hit that contribution threshold?

I've been running this for a few hours, do these numbers look right? It really hasn't changed much (if at all) since when I first checked it shortly after setup. I went with 2miners. I'm not sure if there's a reason to choose one pool over another.

pasted_image (resized).png

I'm waiting on the final verification step, three week and counting process so far... Have Coinbase, but want Cardano which isn't on Coinbase.

I used to have that same fear...but it's less and less and time goes by. Why? Becasue institutional money is buying in. Who do you think all these institutions manage money for....lawmakers would certainly be included. These people are not going to F themselves out of profits. Make no mistake Bitcoin (all crypto) will get regulated. But that will be a boon for Bitcoin...more regulation means even more institutional money coming in. It will give Bitcoin "legitimacy". Bitcoin won't replace fiat...CBDC's will do that. Bitcoin will (and is) replacing gold and many other forms of "store of value" assets. It will become the
"de-facto" safe haven asset used to protect profits against inflation.

We will soon (few years at most) be at a point where banning BTC would crash the stock market...obviously they won't let that happen. How would it crash the market? More companies are buying in every week. They are using Bitcoin to hold some of their profits. We have already seen what happens to a companies stock when this becomes public...their stock goes up. If BTC got banned their stock would tank...this of course would chain reaction across the market affecting companies that are not even in the crypto market. Doesn't take much for people to panic sell and create a market crash...we've seen it before.

Regulation will happen...outright banning (in the US) will not. Just wait until the first central bank buys in and then see what happens.

Everyone thinks BTC is too expensive...this is still EARLY. Bitcoin will surpass 300k after the next halving. The halving after that...500k-1Mil.

.

With regards to bitcoin and stocks, companies adding bitcoin to the balance sheet. Oracle is rumored to be the next big player to do so, look what it’s done for mocrostategys stock price!!! I own some bitcoin and am adding on dips along with ether. I’m also investing in companies adding bitcoin to the balance sheet.

Curve DAO is a great defi that i am in

Im not familiar with the pool you are using. You can click on that payouts tab and adjust your payout to the minimum allowed. They should also have a payout policy listed somewhere. Which mining software did you choose?

The hash rate though looks about right for a gtx 1070. You could probably get a few more hash's by overclocking your card and power limiting it. You should definitely check and see what temps you are running. You dont want to overheat the gpu.

Software:
MSI Afterburner. Used for overclocking. Again, look up some tutorials. You can research what others are using for setting as well. Be careful here.

GPU-Z. Helpful to see temps & what kind of wattage your pulling with the card.

Motley Fool made their first ever recommendation on a cryptocurrency. I don't know which though since I didn't sign up for their "10x adventure" club.

I'm not familiar with that pool, but you want a pool with a high total hashrate. The higher the hashrate, the more likely it is that someone finds a block. The more blocks the pool finds, the more you get paid.

What pool did you choose?c

As for hashrate, that looks right for a 1070. It will take a day or so for it to stabilize.

Cardano/Ada is up again. So far I've bought in twice. I'm really hoping for a dip to buy more at a better price, but with great news/implementation coming late February and early March, I'm kind of doubting it dips too low in the next while. Fingers crossed I'm wrong though.

At least I'm in it now though, and not just staring from the sidelines.

Confused about how the value comes into play with all cyptro currency
Dont you think that Botcoin ,being the only one you can use to buy anything is the only one that most likely would succeed ? The end game is another world currency will take over the current goverments "Gold thats not really their"currencies. Other them being a miner you have to use current currency to buy any and when you sell it you get current currency back. So why cant I use any cyptro to buy food,gas or pay my electric bill if its worth cash.
So the way I understand it so far is we are just gambling that the world current currency will crash and become worthless and the only thing we can buy food with is cyptro that has no real backing but the current cash we have put into it today ????
This is like learning all the rules on POTC lol

Crypto serves more purpose than just currency, which may be what you're overlooking. There are some great articles out there about how crypto can serve multiple uses in ways people are just starting to realize.

Using crypto for daily transactions is the future...not the current best use. Although I have purchased things with both BTC and ETH.

Right now this is still an emerging market. It will remain volatile until these assets reach their price discovery points. Then things will settle down on the volatility end and they can began to serve their intended purposes. This could take another decade though. Which is great, if you're an investor/holder. Trading can be risky during this time.

You can use it to buy things. Overstock, Microsoft, NewEgg, Twitch, sports teams like the Dallas Mavericks and Miami Dolphins, Tesla and the list goes on. For vendors that don't directly accept BTC, ETH, BCH, etc, you can go through a 3rd party to make your purchases.

The dollars in your pocket have no real backing either. It's only peoples' belief that someone will accept them as payment for goods and services that make them valuable. It could be dollar bills, red sea shells, paper airplanes, etc. Anything can have value if two people agree it has value.

I'm not gambling that the world currency will crash. It might, but that's not why I'm pouring cash into all types of crypto. I'm gambling that blockchain tech, DApps and DeFi are going to become adopted by the masses and I want to get in on the ground floor. Hell, to be honest, BTC makes a terrible currency. If you want to use crypto as currency, you'll want to look at something else like EOS, XLM, ATOM, etc. You want something with near-instant transaction times. I don't want to stand at the register trying to buy my coffee for 10 minutes while the BTC transaction settles.

Right now I'm quite big on bitcoin and Cardano, but does anyone have any other crypto they feel is worth reading up on? I think this is an exciting time for Cardano, and am wondering if there are any other crypto/projects that are in similar stages with exciting times/projects ahead. I feel I should look at diversifying my buying a bit, but want to read up on projects before buying in. Plus I'm really green and the more I can learn, the better.

Hence the Lighting network

Just starting mining BTC with NiceHash 2 days ago using my idle RTX 3080 GPU. I've made $34 CAD so far.

Just putting this out there so someone can tell me I'm doing something wrong, or should be mining something else.

Otherwise, I'm letting it go full steam ahead!

I've been a fan of LINK for years. I also recently started dumping money into GRT. If ETH can get their transaction times down, I think DeFi is going to kill it. LINK is an integral part of DeFi. I think GRT is going to be extremely useful as well.

I think I posted more about what function they serve somewhere around here.

You might also want to take a look at SNX, UNI, DOT and SUSHI. I've been eyeing ATOM and MATIC, but haven't pulled the trigger on either yet.

Looks like that card will do about $11.78/day when mining BTC and about $12.30/day when mining ETH. I'm not sure about BTC miners, but with ETH, you can typically dual mine coins without stepping on the ETH hash rate too much. Typically the secondary coin is not worth much, but it always has the potential to rise in value.

If you are using coinbase make sure you get the free coins they offer. It took me about 20 minutes to get $31 in various different coins which has since turned into $75 in the last month. Not big money but not bad for 20 minutes. Could be done in less if you just answer the questions and don't watch the video.

ADA doin the rocket man.

Wish Coinbase would add Cardano..

Fees are way lower on kraken versus binance for Ada just fyi

I think I’m done buying Ada for now, unless it gives us a nice big dip to buy on. I have about 1/3 of my fun budget spent, with enough coins now to feel I’m part of the fun.
Thanks to everyone for being a part of this thread, I look forward to seeing what 2021 brings for everyone.

Does Kraken allow funding with anything besides bank wires? That was the hang up for me.

I’ve never linked a bank account to Kraken or sent them money.

Just send them Bitcoin and traded the Bitcoin for ADA or any other coin they carry.

Thinking about going in on LINK or buying more XLM

Anyone pick up any GRT? It had a really nice pop overnight and is up 49%.