Never looked into this in detailed fashion, are you saying there are rewards for mining contribution? Have no clue about that honestly, my comment was more geared towards the amateurs who try to mine on mediocre rigs and then realize they would've been far better off just simply buying the coin.
I actually heard it's likely a scam, their website doesn't go into any details about their claimed experiences, partnerships etc. No working product, barely any development public (or should I say zero), zero disclosure, empty github etc. There are also zero informations on the CEO's past projects and companies, someone digged through the internet and found that they don't even really exist. Wouldn't invest in this at all.
The rewards of course, are the coins. If your rig does not contribute enough, you will never get coins. If you have a GTX1080 and try to mine bitcoin, you will simply never provide enough contribution to get credit. Conversely to what you were saying, if you try to mine Ethereum with the same (Single) GTX1080, you will get some reward. The question is it worth it? If you were mining Ethereum back in January and it cost $30.00 in power to mine 1 Ethereum when Ethereum was worth 10 bucks, one would say it not worth it....unless you held it, then yes, it would be well worth it. But yes, why spend $30 in power when you could buy 3 Ethereum at 10 bucks.
Ah okay, so my sentiments still stand and we agree. Way too many people trying this on underpowered rigs instead of simply buying the coin, ending up with a net loss compared to buying the coin.
Unless you have subsidized electricity or can get equipment as some secret under-market price, you'd be better off spending the money you'd spend to mine on just buying the currency. If mining is more profitable than buying, more people will mine and increase the difficulty until you reach a general equilibrium. And since it's almost certain that other people can mine cheaper than you, that means you're going to make less by mining than just buying the coin outright. China has a lot of cheap/subsidized electricity, which is why you see so much mining there. And that does not account for all the time and work involved to set up the equipment.
I hope this lasts awhile. I just max bought some bitcoin and coinbase has it on hold for another 8 days.
He sold at 18, at the last peak and was really confident it would drop back down under 10 by tuesday and would bet anybody that thought he wasnt confident enough.
My bitcoin order finally went through today. nice 50% profit since i put the order in last week. used it to buy 2 of these bad boys https://bitcoinware.shop/collection...9-13th-s-bitcoin-miner-new-16nm-0-098-watt-gh
It will hit your BTC account on the 18th. The only way for it post directly to your account balance is by depositing funds into your Coinbase USD wallet but that also takes 7 days, which is somewhat counter-productive.
I do wire transfers into Gemini. Depending on your bank wire transfer fees, sometimes its the most cost effective way. That and my money is available in a couple hours instead of a week+ Gemini is what CBoe uses for their exchange.
Confident is quite of an understatement. That's why I warned him multiple times, your MS in finance doesn't mean sh** if you become arrogant at this game and think you can predict the market 100%. No one can predict this at all, especially when you start with nonsense like "xy K at xy PM". Reputable analysts will at most tell you that the outlook is bullish, bearish or that the TA isn't telling us anything atm, then you'll see cautious predictions like "in case this is bullish/bearish, the next support lvl/resistance is at xy K and the most likely outcome, next levels are at...". You have to check the charts constantly and readjust your TA all the time, and even then it's only a model to slightly improve your odds, but you aren't f****in Nostradamus and able to nail how this market behaves. Hope he at least realized his mistake and bought back in at a healthy level, I still want all of us to profit here and to learn from mistakes in a way that doesn't wreck anyone financially.
What are your determining factors for it being good for the rest of the year, if you dont mind me asking? Edit: Nevermind. Im sure your post above explains it.
Futures bringing a bit more stability into this and us now having serious players wanting btc's long-term success, holidays coupled with media attention, no serious forks upcoming, the trend still showing no setbacks, bcash/btrash having lost its war. Right now, the logical assumption is that institutions and players understand that longing this atm is the best outcome for everyone and the mid-term future of btc.
I can tell you 100% for a fact that someone with an MS in Finance (unless you got it at MIT) is incapable of the level of ability to conduct proper technical analysis needed to make money in the stock market. As far as crypto goes, technical analysis in a traditional sense is bullshit here. The market isn’t established or stable enough to do that. It makes me lol when I see people link to YouTube videos discussing Fibonacci retracement and bollinger bands on cryptos. What a load of bs. Fundamental analysis is still king in this realm. The extent of technical analysis that works best here is how good of an algorithm can you write to take advantage of market inefficiencies. Attempts to predict price movement on mathematical models is out the window here. This is very simple in comparison to stocks. People trying to do too much are only going to outsmart themselves.
