(Topic ID: 200502)

Somebody explain Bitcoin to me

By Pinballlew

6 years ago


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  • 1,905 posts
  • 176 Pinsiders participating
  • Latest reply 3 years ago by toyotaboy
  • Topic is favorited by 34 Pinsiders

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    #1039 6 years ago

    Has anyone purchased a Cryptokitty?

    https://www.cryptokitties.co/faq

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    #1063 6 years ago

    In the process of setting up a 8 GPU mining rig. I'll be running (4) GTX 1070 Ti and (4) Radeon RX 580 8GB w/ dual power supplies

    Not a clue how well this will hash or what currency I'm going to target, but figured this would be something fun on the side.

    At least I'll have hardware to sell if and when the shit hits the fan. (not that there won't be a zillion used 1070's and RX580's for sale)

    Edited: configuration (+2 GPU)

    #1118 6 years ago
    Quoted from Spyderturbo007:

    Has anyone used Etherdelta? I have my eye on a coin, but it's not listed on any of the exchanges. It only shows up there...

    I think Etherdelta is an exchange where anyone can create a crypto currency and upload it there on the exchange. Atleast, it sounds familiar when I was watching a YouTube video on creating and listing my own crypto currency >> Toastercoin

    1 week later
    #1233 6 years ago

    I’m one of those fools that bought some ETH on my cc @ coinbase. Bought my weekly limit about ten days ago @717. Broke $1400 today, so okay with the added fee.

    USD transfers to wallet were, or by default take 7 days. I also was having trouble verifying my identity and getting my banking info confirmed.

    #1250 6 years ago

    I think this was bound to happen, but who knows. The upward momentum on pretty much anything crypto was unsustainable.

    I look at this as a buying opportunity myself, but I believe in the technology going forward.

    Stuff like smart contracts and affordable, decentralized encrypted storage for medical records (HIPAA in the U.S.) on the block chain just seems like a no brainer.

    #1279 6 years ago

    This is how I cool my rig. Runs all my GPUs under 50c. Still trying to find a good balance.
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    My whole rig, monitor, fan everything pulls 850 watts. (890 if monitor is turned on)

    GPU 68% power, +200 core, +720 mem, 50% fans @ 3050 Sol/s

    I can drop power more, but like seeing sol/s over 3k.

    #1282 6 years ago

    Some days you wish there was a closing bell and time for a reset.

    #1338 6 years ago

    I can't wait my second rig goes live tonight. I was able to Source 6 RX 580 s at a reasonable price about four to six weeks ago.

    Just waiting on my power supplies and memory and that all comes this afternoon.

    Sticking with mining zcash with my first rig and probably siacoin and ether with my second one.

    #1356 6 years ago
    Quoted from pezpunk:

    picking up the 580s a month ago was a very nice choice! Consider giving NiceHash a try with this new rig - my 390's do extremely well on it, and they are similar architecture.

    I couldn't get it to boot last night and I left to Las Vegas today so I'll have to try when I get back. I really wanted it up and running too.

    Wanted to get started mining Monero.

    1 week later
    #1376 6 years ago
    Quoted from toyotaboy:

    thread should be retitled to "someone explain to me why every cryptocurrency is down the past month"

    Although I totally believe in the blockchain and many of the technologies, the market cap on most of the cryptos was/is nuts.

    As a believer in Ethereum it's been interesting to watch this last week. Most of my other cryptos have pulled back considerably. Eth has done very well IMO considering the rest of the crypto market. Most of the other cryptos have pulled back to end of 2017 pricing or even lower.

    My very uneducated and thinking aloud is Eth is somewhat supporting the market to a degree. If it has a considerable correction down to $700 or so it could really pull down everything else with it. I purchased a very small amount right before it went from 700 to 1350 or so and that wasnt long ago.

    With that said I will still buy below $900 and I'm currently mining Eth on both my rigs. I'm sure there are buying opportunities out there, but this stuff is not for the faint of heart. FWIW I am very long on Ethereum and others and I'm not too concerned about near term volatility.

    Edit: Not sure if this is the best place to be posting my mining tables, but you make do with what you have. Both temporary till I find a couple sturdy tables at an estate or garage sale.

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    #1381 6 years ago

    Gotta agree with Pez. Too much of a risk with the limited availability of hardware and ridiculous pricing if you can find it.

    If GPUs become available again for a normal price I might consider it. I found syncing 6 cards a challenge, but if you’re patient, there’s plenty of resources online.

    The only reason I have two rigs was in my scramble to source parts I ended up with 4 extra GPUs, an extra mining frame and a 4gb stick of RAM. GPUs sales on Amazon, eBay, Newegg, Best Buy and such were limited to one or two per and my purchases were getting canceled. Figured I was close enough at that point and had to pay too much for my final two RX580s. They have fans that light up red though so I guess that justifies the extra $120 a card

    #1425 6 years ago
    Quoted from Astropin:

    I'm actually surprised ETH is getting hit this hard. If anything held up well I would have thought it would be Ethereum.
    Tron down to .029....about an 87% drop from its high. (Although I really shouldn't even mention scam coins).
    Some good cryptos are taking a massive hit right now though....ETH and NEO to name two with probably the most upside potential ("But don't try to catch a falling knife").

    I sold my Eth @ 1100 and put a buy order @ 683. Finally got filled today, but not sure that’s a good thing, lol.

    #1434 6 years ago
    Quoted from extraballingtmc:

    Not sure when to rebuy, just keep watching. Things in a free fall right now. Scary. Should be a huge bounce back at some point but no telling when.

    Agree, it’s bananas. When I placed my order at 683 I didn’t think it would get filled..ever, and that was only three days ago, lol. I was happy to see a small bounce after flooring at 615 and I bailed at 715. Way too chaotic for me. I’ll stick to mining, even if profits are getting smaller by the day.

    #1444 6 years ago

    I'm thinking institutions will continue this cycle. Load up on cryptos, keep buying and run up price. Put the short in and start dumping and keep dumping till panic ensues. Let the price drop to basement prices and start buying again. Start cycle all over again.

    #1449 6 years ago

    Hmm, maybe I should consider this stock market thing. Thanks for the tip!

    #1461 6 years ago

    There seems to be quite a bit of support building at these ranges BTC @ 8k and ETH @ 800. Hopefully we can maintain these levels and build on them slow and steady. Most of the other cryptos seem to be following suit.

    #1468 6 years ago
    Quoted from Astropin:

    I think we are going to see another bounce from March into April. Slow and steady would be nice but this is still a new wild west market...slow and steady is years away.

    I don't need 10% a day, but I'll certainly take it.

    If it climbs too fast there's not enough support and when there is bad news the whole bottom falls out IMO.

    #1470 6 years ago
    Quoted from pezpunk:

    sure, although i wouldn't buy cards at today's prices. i think i'm making like $35 a day with my 8 Vegas. it was more like $60/day for most of my mining time, and peaked around $100/day at one point briefly. but i'll take it. electricity only costs about $4 a day.

    Are you still mining Monero? I'm juggling ZEC and ETH currently.

    I want one wallet for pretty much everything....Got any recommendations?

    1 week later
    #1521 6 years ago
    Quoted from okayestpinballer:

    Or is it Wall Street traders looking to pump and dump?

    I've been thinking this for some time. Everything basically trading sideways with the exception of BTC and few Altcoins, but BTC upward trend has been steady. Who knows when/if the dump will come, but it will pull everything down with it. I look at the sideways trading as lot of uneasy investors that might have been optimistic in the past.

    #1528 6 years ago

    Coinbase and GDAX are pretty much one. If you have a Coinbase account, you have access to GDAX. Use GDAX for pretty much any trade or withdraw.

    2 weeks later
    #1570 6 years ago
    Quoted from jwilson:

    Oof, if that's true you should be loading up bigtime today! XMR down 15%!

    Hard Fork delayed till the end of April now. Date moved from March 14th

    4 months later
    #1632 5 years ago
    Quoted from oldskool1969:

    TRUE, everyone knows you bet RED!

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