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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 started dabbling in crypto over the last week and am quite frustrated with the hidden fee's that are tied to either withdrawals or exchanges.
For example, today I transferred $64 worth of BTC from NiceHash over to Exodus so I could convert that to ADA and stake it. I already had 327 ADA in that wallet, so I wanted to add to it. Once the BTC reached Exodus, my current BTC holding was below the threshold to be enable a BTC > ADA exchange. Okay fine, I converted my 327 ADA > BTC, now having beyond the BTC threshold to convert everything back to ADA.
Well, the final exchange left me with only 345 ADA from my original 327 ADA, or roughly $25 worth of ADA from an original $64. WTF!
Did I just fuck up by exchanging the BTC while it had dipped further than ADA, making an unfavorable exchange, or did I just get fleeced with exchange fees?
If someone could help me work out a more cost effective method of exchanging and transferring, it would sure help a lot.
Quoted from sixtyfourbits:With you being from Alberta, have you used NDAX before? That’s what I’m using to buy Ada. It’s been alright. It’s nice because I just etransfer what I want to spend, buy Ada directly in Canadian funds, and then transfer out every couple weeks to my ledger and then stake the Ada. I believe each buying transaction costs 1 Ada as a fee, and it costs 8 Ada to remove to the ledger per transaction. So I wait until I have a couple hundred to a couple thousand Ada to transfer, and it cuts the fee % down nicely.
I had no idea, I’ll have a look at that, thank you!
For those new to mining that don't want to mess with .bat files and manually entering and selecting pools, try NiceHash. Super simple. Download the application and hit go.
I've made about $250 in the last three weeks since I've started with my 3080.
Quoted from Spyderturbo007:I did read that and it makes absolutely no sense at all.
lol welcome to every Binance news item or promotion. Complete Greek to me.
Quoted from fosaisu:Hmm, "anonymous insider." Sounds legit.
They called the upcoming China FUD on the day. But, that was probably a lucky guess.
Quoted from Astropin:Just saw a guy who bought $200 with of safemoon. That gave him 50 million coins. He said in 3-5 years when it hits 0.5 he will sell for 25m.
Did the quick math and for safemoon to get to 0.5 would mean it has a 290 trillion dollar market cap!
WTF is the matter with people?
I put $200 into SAFEMOON at launch and it’s worth about $11k currently. At ATH it was $41k. Pretty decent return!
I was greedy and didn’t take profits, but if it ever makes it back, I sure as hell will.
Quoted from sixtyfourbits:I just won a playoff hockey pool, so I'm looking to buy a bit more soon (roughly $1000 Canadian).
I'm debating between ADA and AGIX, though ADA will likely win out again haha.
I know its starting to look really bearish to some, and we might be in consolidation for a while. I'm just not quite convinced its a bear market yet. And even if it is, I'm ok with buying, holding and staking for a few years. Short term may look rough, but I'm still a believer in crypto long term, so I'm not too worried.
My plan is to wait and see what Friday and Saturday bring. There is a Grayscale unlocking coming this weekend, and I think that will spook some people and drive prices down a bit yet. I usually prefer to buy on a Friday or Saturday evening as a rule anyway.
Grab $1000 worth of Cake and stake in the auto-compounding Cake pool @ 100% APY. Money works during potential bear markets, and Cake itself will rise in value over time. DONE.
Quoted from Spyderturbo007:I’d be very grateful if you would explain how I can get 100%. Do you have a walk through or instructions?
Just head to pancakeswap.finance and go to the Pools section. Buy some CAKE and deposit it in the pool of your choice.
77C369B6-8260-49DB-828C-518F8F44D80A (resized).jpegQuoted from Frax:This shit running on Binance? How the hell do I get BNB (for gas, presumably) without spending 50 bucks (Atomic Wallet), or having access to Binance at all since US/TX/No VPN. Really about to say to hell with it all and get a VPN...at least I know my roommate/sorta-landlord would be in on that, and willing to do the dirty work. :p
You can buy CAKE on Binance or KuCoin. If you don't have access to either, you can also buy CAKE directly on Pancakeswap with another token you have in your wallet, and it'll auto convert down the chain for you. So if you have USDT, it'll auto-swap your USDT > BNB > CAKE.
My process in Canada, is to send fiat to Newton/Shakepay, buy LTC or BTC respectively, then send that to Binance and swap for BNB. Send the BNB to my Metamask wallet on the BSC network, then swap for CAKE, then stake it.
If you don't have access to Binance, you can swap your fiat for USDT or whatever other token, send that token on the BSC network to your wallet, then swap for CAKE, and stake it.
Hopefully that helps a little. If not, here's CryptoDad explaining how to do it specifically in the US.
Quoted from robertmee:Don't try to catch a falling knife
I'm a fan of dollar-cost averaging that knife on the way down. Just a few chunks of change at a time.
Quoted from Frax:Anytime I've tried to do anything on PS, it's wanting to charge me BNB for the transaction fee. Is there something specific to USDT *specifically* in this equation?
This requires BNB for gas fee. Ask me how I know. I sent the USDC I planned to use to swap for CAKE, sent it to BSC, so now it's in my BSC wallet in Metamask, but I can't do anything WITH it, because I have no BNB to pay the transaction fees, nor apparently any direct way of getting BNB without either buying 50 bucks worth through my Atomic Wallet (which honestly isn't THAT big of a deal, it's just fucking annoying when I only need a few bucks at most for transaction fees), or brokering an off-exchange deal with someone to purchase a small amount.
Yes, you're right, you'll need some BNB for transaction fees. I always keep .1BNB on hand for such things, but if it's a struggle to get in the first place, I can see why it might put you off.
Quoted from sixtyfourbits:Ehh, I disagree.
He says crypto is controlled by a small group of elitists? Show me any major system that doesn't have a vocal group claiming that's the case for (the banking system, the stock market, political systems, religious groups, etc). Its one of the main things people claim if they are unhappy with a system or feel its not fair.
It sounds like he is mad that his cypto that he created as a joke, got really popular based on mass hype and little else. A lot of people in crypto agree with him that doge blowing up was a bad thing, but more so because it paints all crypto as pump and dumps with little utility. He also admits that he sold all his doge six years ago. Maybe he's just bummed that he sold his bag way too early, and that just made him even more bitter about crypto.
Crypto is still in its early stages, and its going to have believers who feel their supporting something in its infancy stages and will be rewarded when it grows into something much more. And its also going to have it doubters, who will shout from the rooftops that its controlled by a small group of elitist and that its just a system to drive an even bigger gap between the wealthy and the poor. And its also going to have some chill people in the middle, who may grab a little bit, just to put in their back pocket, relax and check back in on in a few year.
Right now, and likely for the next few years, we will all just have to wait and see who ends up right.
Without regulation, the space is almost certainly at the mercy of major whales/institutions manipulating the price. Can we say for sure? No. But, like everything else in this world, money is power, and those with the money/power, have control. Crypto is no different.
I am a believer in the blockchain, and absolutely see this being the future, but we have a lot to work out first. From shit coins, rug pulls, and market manipulation.
Something big is coming for the stock markets. Something real bad. It's another bubble that's about to pop, and I think this massive dip/bear market we're in is a direct result of these large institutions withdrawing their capital and playing the markets up and down, shaking out the paper hands to hedge against it.
I’ve said it before, but if you believe in the blockchain, you shouldn’t care about the price of BTC and ETH, and simply dollar cost average buy them like a retirement savings plan.
I am fully convinced crypto and the blockchain are here to stay, and I’ve never been so sure of anything in my life.
Quoted from sixtyfourbits:Late last night / early this morning, an entity sold 79000 Bitcoin in one drop on coinbase pro. That’s about $2.5 billion worth.
The part that leads me to think this was an attempt to purposely drop bitcoins value is that it was done on coinbase pro, a public exchange. Most sales this big are otc.
Considering such a large public sale, I think the price has held up well. Shows lots of people are currently buying.
My tinfoil hat theory:
Stock market crash is coming. Institutions and banks hold over 70% of the crypto markets and are liquidating crypto assets to either maintain liquidity to cover their looming margin calls due to the crash, or keep cash on hand to survive the coming crash (GME/AMC MOASS).
Even if you don't believe the GME/AMC MOASS, the above still can hold true.
Quoted from Astropin:Just submitted the application for the BlockFi Bitcoin rewards VISA card.
What do you get with the card?
• Earn 3.5% in bitcoin back on all purchases in your first 3 months, and 1.5% on all purchases after.
• No annual fee. No foreign transaction fees.
• Earn 2% back on every dollar over $50,000 of annual spend.
• Earn crypto interest on your Bitcoin rewards.
• 2% extra APY in Bitcoin on your stablecoin holdings.
• Trading bonus: 0.25% back in bitcoin on all eligible trades.
Once you’re a cardholder, you can earn $30 in Bitcoin for every client referral to BlockFi, on top of the base Refer-a-Friend program.
Almost sounds too good to be true. With them reducing their APY % every few months, I fully expect a few of those bullet points to be dropped as more adopt the card.
But very exciting in the meantime!
Quoted from cait001:I get that they're a tabloid but the NYpost cover page rn is intense
[quoted image]
They're referring to UST and LUNA bagholders. I know several people who lost 6-7 figures on each.
The subreddit for LUNA has a suicide hotline number pinned to the top, and many posts from users contemplating suicide after losing everything.
The headline is brash, but it isn't too far off at this time.
Hope any and all affected make it out okay. <3
Quoted from KornFreak28:You think BTC has hit bottom?
Down to 25k, then bounce up to 35k in Summer, then down to 15-20k for the remainder of the year, with relief coming in October.
Load up your bags when ETH is $1500.
From my crystal ball 
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Lethbridge, AB