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01-03-2018, 10:41 AM #1
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Cryptocurrencies?
Some say its all spec and some have gotten rich off short term (possibly long term) investments on crypto.
I myself have invested in Litecoin (bought in at around $200) and Ripple (bought in at around $1.98).
What do you guys think about all this mess?Last edited by Plutus; 01-04-2018 at 06:02 PM. Reason: correction
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01-03-2018, 11:57 AM #2
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I love Crypto...
I am in Ripple got in at .77 and .84
However I am in USI tech as well....growing my money daily and earning Bitcoin..
I hear rumors that Bitcoin will hit $50k ...I sure hope so!!
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01-03-2018, 12:28 PM #3
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I've been in bitcoin since August. Dollar cost averaging every 2 weeks and holding steady!
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01-03-2018, 12:33 PM #4
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Just wanted to say if you are using Coinbase and want to avoid the fees sign up at Gdax.com
Same company but way lower fees...
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01-03-2018, 12:37 PM #5
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Yeah I looked at them. They're geared to more active traders though. I'm just a buy and hold type of guy.
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01-03-2018, 12:46 PM #6
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My friend has about 36562 shares of xrp...(he uses Bitstamp)
He just made $4k in about 3 seconds on the upswing!!
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01-03-2018, 12:48 PM #7
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I'm not into scalping lol. I'd love to see all the trades where he lost $4k in about 3 seconds!
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01-03-2018, 12:51 PM #8
Cryptocurrencies?
its still early stages for cryptocurrencies...every one should jump in guys! I recommend investing no more than 3 to 5% of your networth...do not lose out here boys and girls!
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01-03-2018, 12:54 PM #9
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Yea that happens too! but he has become much more conservative...a few years ago he got knocked out by a few bad moves....
I am trying to learn how to read the "candlesticks" but still too nervous to day trade ...I am just letting my XRP sit for a few years...
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01-03-2018, 01:04 PM #10
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I know very, very few people that have been consistently profitable daytraders. They all lament that if they only learned to buy and hold...
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01-03-2018, 02:50 PM #11
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One of my underwriters is a whiz when it comes to cryptocurrencies and got me into it. Ripple, Trx, and a few others have literally made thousands for me which I'm not going to complain about!
https://www.binance.com is definitely the best exchange if you have coins already and wanted to trade Alt coins, but like cash cat said GDAX is the best for BTC/ETH/LTC(And if you trade on limits you'll pay no fees).Tommy Stein
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01-04-2018, 06:05 PM #12
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- Nov 2017
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I used Coinbase initially to get into Bitcoin but I wasn't aware of the network fee that gave me the biggest shaft of the century when I sent it to Binance to trade on their market.
I like Coinbase for the simple fact that it's just put a card up and buy and the fees are NOMINAL when it comes to sending Ethereum ($0.46) and Litecoin ($0.27) and then I sent it to Binance.
Definitely will check out gdax tho
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01-04-2018, 06:06 PM #13
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- Nov 2017
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I actually bought TRX this morning through Binance, Tron looks pretty promising. Justin Sun is releasing their newest partner next week, apparently its a big dog.
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01-04-2018, 06:07 PM #14
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What about using bitcoin as collateral ? Thoughts ?
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01-04-2018, 08:07 PM #15
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If you mean leveraging your crypto values like a 401k to get a Line of Credit, etc.....then look into Salt Lending.
They do EXACTLY that. They will lend out money based on your value of your BTC/Cryptos..AND, like a car, you keep it and pay back towards the balance.
The big issue I see with this...is that people will leverage that cash to buy more crypto lol. Just like stacking a MCA. lol.
So, what happens if it all goes "ka-pooey". Their business is a mess then.
Therefore, I like the concept and hate it all at the same time.
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05-04-2021, 12:56 PM #16
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Any of you still holding those crypto's from 2018!?
I just got into investing into crypto about a month ago and have already seen a 100% profit on some of the coins I am holding.
I am even thinking about buying a mining rig. It's actually may be better to just invest in the crypto... But the Nerd in me wants to build a mining rig...
Last edited by Winning; 05-04-2021 at 01:04 PM.
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05-04-2021, 04:07 PM #17
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Sure mining is cool, but what about that Di-didi-di-dogggge...
GoDoge.jpg
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05-04-2021, 07:43 PM #18
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dogecoin to the moon. up 11,000% YTD.
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05-05-2021, 09:26 AM #19
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Crazy times indeed, when a 100% gain in 2 weeks sounds like amateur hour... I bought a $1K worth of ETC on April 17th 2021 @ $43.64, and today May 5th 2021 it hit a high of day of $149.
I am really pondering leveraging my credit score against financing an Antminer E9 ASIC for Ethereum Mining. I could get 18 months 0% interest financing.
The Antminer E9 supposedly will produce up to 3 gigahashes per second (3000mhs), power efficiency of 0.85 J/M, and power consumption of 2556W. Those specs, at today's ETH prices would profit about $6500 per month. ( use the eth profit calculator at
https://etherscan.io/ether-mining-calculator to see the numbers for yourself.) The Antminer E9 will cost $20K to $30k. So in only about 6 months I could repay the CC back in full. But at 0% interest for 18 months why would I... It would be better to take the profits and buy an additional E9 in instead. By the time 18 months roll around I would have more then enough profits to pay off the CC in full..
Damn that looks like a great plan, lol!Last edited by Winning; 05-06-2021 at 09:25 AM.
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05-05-2021, 10:01 AM #20
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05-05-2021, 12:08 PM #21
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05-05-2021, 02:39 PM #22
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05-06-2021, 10:12 AM #23
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Ever since I actually wrote the numbers out in my above post, I feel that the longer I don't move on this idea, the more from anxiety I have.. It's strange how that when you write something down, it get so much more real..
Since the Antminer E9 is not currently for sale, plus when it does go up for sale, I feel like they are going to be very hard to come by.. I am seeing tons of news of companies placing orders for 100's of millions of dollars of mining hardware from Bitmain (the company that makes the Antminer). Here is one such article https://www.globenewswire.com/news-r...eployment.html
So perhaps I can start small, and just get my feet wet with mining by buying an older used Antminer. I would feel comfortable going in with 1/10 of the hashrate and power consumption the E9 uses.. Hopefully I can find a used 1 for 1/10 the cost.. But as long as it can produce 1/10th the profit, it is still a win..
So a miner that is 1/10 of the E9 would have the below specs.
0.3 Gigahashes (300 mhs) using 255.6 watts of power.
Which would profit $650 per month.
If I could find a used miner with those specs that costs $2000-$3000 I am going to purchase it asap.
Going to start searching Ebay, Amazon, Facebook Market Place, Craigslist, Alibaba, etc....
If I can pull this off, this would essentially be proof of concept.
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05-06-2021, 10:52 AM #24
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Your going to need a shoebot type app to snag anything that hot off the market...
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05-06-2021, 11:13 AM #25
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