Daily Mining Profits

auntjemima

Supreme [H]ardness
Joined
Mar 1, 2014
Messages
8,020
Im new to mining.
Its been under a month now..
Maybe its because I have no frame of reference, but I feel stress watching my wallet go lower after a day of mining.
BTC has dropped from $59K to $43k during the 3.5 weeks Ive mined.
Don't fret. I lost nearly 10k in the last week on eth. It will go back up, just gotta hold on.
 

therealjustin

Limp Gawd
Joined
May 19, 2008
Messages
386
I can definitely relate to the constant wallet checking! 😆

As frustrating as it is, we need to remember that the price of Bitcoin was under $10,000 a year ago. It is unfortunate that some have continued to allow Musk to manipulate them and the crypto market in general.

Hodl, as the hip people say.
 

Bassman99

Gawd
Joined
Feb 3, 2021
Messages
851
Don't fret. I lost nearly 10k in the last week on eth. It will go back up, just gotta hold on.
Damn thats a LOT!
I can definitely relate to the constant wallet checking! 😆

As frustrating as it is, we need to remember that the price of Bitcoin was under $10,000 a year ago. It is unfortunate that some have continued to allow Musk to manipulate them and the crypto market in general.

Hodl, as the hip people say.
Yeah people can be easily manipulated and dont learn from experience as a whole.
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
I can definitely relate to the constant wallet checking! 😆

As frustrating as it is, we need to remember that the price of Bitcoin was under $10,000 a year ago. It is unfortunate that some have continued to allow Musk to manipulate them and the crypto market in general.

Hodl, as the hip people say.
If one person can just say a few things and the market tanks, that speaks rather strongly the foundation of BTC. Or is that weakness? Wait until Elon dumps his 1.5 billion bought BTC, if he does. He has been getting much grief from the BTC community (some would say worshipers). Historically BTC has routinely dropped around 80% from the highs a number of times. If it goes to the Crypto Abyss, down market cycle, one can wait until the next Bull run, that is if it occurs. Anyways Crypto is a high risk, very speculative market. Anything mined is subjected to the whims at times of many and you can only count the earnings once you cash out. I cashed out on ETH, still mining, when it was above $4000 and will probably cash out the next batch as I mine. As for Eth going up or down from here, really don't know, to me the trend will be down, hopefully I am wrong.
 

Bassman99

Gawd
Joined
Feb 3, 2021
Messages
851
I thought I would post/ask this here.
I got a Dm on Discord saying I won a BTC prize.
Just wondering how to know if it legit or a scam.
Below is the message minus the Code to get my BTC

GrimyToday at 8:22 AM​

Cоngrаtulations Tор crуptо giveаwаy from 0.005 tо 0.3 bitcоin аnd 5 megа prizes frоm 0.3 tо 1.5 bitcоins. Тo hеlp pеoрlе in this diffiсult timе, thе Bigbitc trading рlаtform аnd our рartnеrs Bitfinex deсided to hоld a mass drаw and distributе cryрtoсurrеnсу to random Discоrd users If yоu rесeived this mеssаgе Yоu аre onе of the winners in our GIVEАWAY **Yоu wоn: 0.28 BТС

How уou cаn cоllесt уour winnings? Join or register an account on the exchanger https://bigbitc.com/ Go tо sеttings Entеr yоur cоdе in «рrоmо cоde» sеction Withdrаw BТC tо уour address Donе! Giveаwaу rules: Do not givе thе рromо code tо anоther реrsоn This сode is valid 3 daу from thе dаte оf issuе If уou havе any questiоns аbout your winnings, уou cаn usе the onlinе сhаt with suppоrt оn thе mаin pаgе of the site. To do this, click the "Supрort" buttоn and writе tо us in the сhаt. IF YOU DONТ КNОW ABОUТ СRYРTО AND НOW ТO USE IT, РLЕASE IGNORE ТНIS МESSАGE Regаrds Bigbitc Tеam ©️
Bigbitc
Bitcoin Exchange, cryptocurrencies on the Bigbitc
Buy, Sell & Trade Crypto using modern and secure trading platform.
 

FrgMstr

Just Plain Mean
Staff member
Joined
May 18, 1997
Messages
51,803
I thought I would post/ask this here.
I got a Dm on Discord saying I won a BTC prize.
Just wondering how to know if it legit or a scam.
Below is the message minus the Code to get my BTC

GrimyToday at 8:22 AM​

Cоngrаtulations Tор crуptо giveаwаy from 0.005 tо 0.3 bitcоin аnd 5 megа prizes frоm 0.3 tо 1.5 bitcоins. Тo hеlp pеoрlе in this diffiсult timе, thе Bigbitc trading рlаtform аnd our рartnеrs Bitfinex deсided to hоld a mass drаw and distributе cryрtoсurrеnсу to random Discоrd users If yоu rесeived this mеssаgе Yоu аre onе of the winners in our GIVEАWAY **Yоu wоn: 0.28 BТС

How уou cаn cоllесt уour winnings? Join or register an account on the exchanger https://bigbitc.com/ Go tо sеttings Entеr yоur cоdе in «рrоmо cоde» sеction Withdrаw BТC tо уour address Donе! Giveаwaу rules: Do not givе thе рromо code tо anоther реrsоn This сode is valid 3 daу from thе dаte оf issuе If уou havе any questiоns аbout your winnings, уou cаn usе the onlinе сhаt with suppоrt оn thе mаin pаgе of the site. To do this, click the "Supрort" buttоn and writе tо us in the сhаt. IF YOU DONТ КNОW ABОUТ СRYРTО AND НOW ТO USE IT, РLЕASE IGNORE ТНIS МESSАGE Regаrds Bigbitc Tеam ©️
Bigbitc
Bitcoin Exchange, cryptocurrencies on the Bigbitc
Buy, Sell & Trade Crypto using modern and secure trading platform.
First reaction.

LOLOL.gif
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
18,772
Im new to mining.
Its been under a month now..
Maybe its because I have no frame of reference, but I feel stress watching my wallet go lower after a day of mining.
BTC has dropped from $59K to $43k during the 3.5 weeks Ive mined.

Ice been at it for maybe 8 weeks and just let it ride. Dont stress over it. I feel since im mining, if it goes kaput, oh well, im out some electricity and may e so e hardware costs which i couldrecoup so.e of it anyway.

I feel lime mining crypto is just magic monopoly money even though it is t
 

Bassman99

Gawd
Joined
Feb 3, 2021
Messages
851
Ice been at it for maybe 8 weeks and just let it ride. Dont stress over it. I feel since im mining, if it goes kaput, oh well, im out some electricity and may e so e hardware costs which i couldrecoup so.e of it anyway.

I feel lime mining crypto is just magic monopoly money even though it is t
You are right
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
Yeah don't worry about it, BTC will be 72-80k before you know it.
37% down from the high, BTC cycles around 80% between the tops, historically. So far, this has been the biggest dip this year in the value of BTC which normally affects most of the other currencies. When it starts to go down, some short it and make money that way. Then the cycle repeats. Is it digital Gold, with current inflation numbers? The answer appears to be no, looks to be just a speculative market.
 

legcramp

[H]F Junkie
Joined
Aug 16, 2004
Messages
11,568
37% down from the high, BTC cycles around 80% between the tops, historically. So far, this has been the biggest dip this year in the value of BTC which normally affects most of the other currencies. When it starts to go down, some short it and make money that way. Then the cycle repeats. Is it digital Gold, with current inflation numbers? The answer appears to be no, looks to be just a speculative market.


Any exchanges (vpn usage included) do you recommend someone from the US can use to short crypto? For next time of course since we've already started consolidation from the highs so no point in shorting now.
 

DPI

[H]F Junkie
Joined
Apr 20, 2013
Messages
11,636
Im new to mining.
Its been under a month now..
Maybe its because I have no frame of reference, but I feel stress watching my wallet go lower after a day of mining.
BTC has dropped from $59K to $43k during the 3.5 weeks Ive mined.
Nope, BTC hasn't dropped. 1BTC still equals = 1BTC. And 1 ETH still = 1 ETH. If you're mining, then yield is what matters (ETH/day/week/month, BTC/day/week/month, etc.). Moving average of yield vs your costs.

If you're worrying about BTC vs $USD and you're not day trading - which is its own metagame and learning curve and mostly just gambling - then IMO you're wasting energy worrying about the wrong thing.

And forget the myopic hOdL or 'diamond hands' reddit meme bullshit. It's not about HODL'ing. Draw a line from the beginning of BTC/USD to where it is now, and note the angle and direction of that line. That gives you valuable insight for its tendency against $USD in the future, regardless of where it falls in the present moment. Past behavior isn't a guarantee of the future, but zooming out puts all the retraces/dips along the way into perspective. And really, why convert to Fiat at all? Eventually, real estate, cars, payrolls and many other large transactions will be tokenized. It may not necessarily be BTC in its current form, but it'll be tokenized.

Also remember the big point of GPU mining is it's a hedge, versus just buying tokens outright. The risk is already low, and when factoring current GPU market conditions and the long tail it's going to have, the risk is negative. As long as you're beating cost (electricity) + depreciation (what you paid for GPU minus what you eventually sell it for) you're immune to crypto/$USD fluctuations.
 
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Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,054
Any exchanges (vpn usage included) do you recommend someone from the US can use to short crypto? For next time of course since we've already started consolidation from the highs so no point in shorting now.
kucoin. I recommend shorting ICP.
 

oldmanbal

2[H]4U
Joined
Aug 27, 2010
Messages
2,547
Bloodbath in the streets, party at my house.

God we were spoiled with Eth profits last week, Gonna be a good time soon to convert usd to some sub 1 penny new cryptos and watch the 1000x explosion.

I'd like to see the face on some of the pension managers that let their investors get deep into bitcoin while it was on the rise. I bet i could find a color for every skittle there is.
 

obs

Supreme [H]ardness
Joined
Nov 4, 2002
Messages
4,663
Bloodbath in the streets, party at my house.

God we were spoiled with Eth profits last week, Gonna be a good time soon to convert usd to some sub 1 penny new cryptos and watch the 1000x explosion.

I'd like to see the face on some of the pension managers that let their investors get deep into bitcoin while it was on the rise. I bet i could find a color for every skittle there is.
Yea, I've been mining planning on holding long because why not. Looks like I'm finishing up getting my self directed IRA set up just in time to buy some.
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
Nope, BTC hasn't dropped. 1BTC still equals = 1BTC. And 1 ETH still = 1 ETH. If you're mining, then yield is what matters (ETH/day/week/month, BTC/day/week/month, etc.). Moving average of yield vs your costs.

If you're worrying about BTC vs $USD and you're not day trading - which is its own metagame and learning curve and mostly just gambling - then IMO you're wasting energy worrying about the wrong thing.

And forget the myopic hOdL or 'diamond hands' reddit meme bullshit. It's not about HODL'ing. Draw a line from the beginning of BTC/USD to where it is now, and note the angle and direction of that line. That gives you valuable insight for its tendency against $USD in the future, regardless of where it falls in the present moment. Past behavior isn't a guarantee of the future, but zooming out puts all the retraces/dips along the way into perspective. And really, why convert to Fiat at all? Eventually, real estate, cars, payrolls and many other large transactions will be tokenized. It may not necessarily be BTC in its current form, but it'll be tokenized.

Also remember the big point of GPU mining is it's a hedge, versus just buying tokens outright. The risk is already low, and when factoring current GPU market conditions and the long tail it's going to have, the risk is negative. As long as you're beating cost (electricity) + depreciation (what you paid for GPU minus what you eventually sell it for) you're immune to crypto/$USD fluctuations.
I have a different view, sell high buy low. People also have things they have to do, buy, look ahead, take care of which takes money that you can actually use for those items. Anyways sell at 60,000, buy at 20,000, rinse repeat.

Now many thought the institutions will hold the value of BTC, it will remain high or continue to go up and up and up, well those institutions have clients that want a return, meaning they will be the first ones to dump, short etc. on a very large scale making a fall happen much faster in my opinion.
 

obs

Supreme [H]ardness
Joined
Nov 4, 2002
Messages
4,663
I have a different view, sell high buy low. People also have things they have to do, buy, look ahead, take care of which takes money that you can actually use for those items. Anyways sell at 60,000, buy at 20,000, rinse repeat.

Now many thought the institutions will hold the value of BTC, it will remain high or continue to go up and up and up, well those institutions have clients that want a return, meaning they will be the first ones to dump, short etc. on a very large scale making a fall happen much faster in my opinion.
Until it goes to 100k or down to 1k. Then your way doesn't work so well. I generally try to avoid market timing investment strategies.
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
Until it goes to 100k or down to 1k. Then your way doesn't work so well. I generally try to avoid market timing investment strategies.
Been following this guy for years, has been spot on or very close throughout and has made money going up or down. Fast paced, to the point, funny, gimmicky -> everything entertaining while at the same time very useful. Now 100 to 1 or or 100k to 1k or it doesn't work well I do not follow. It can be 10% over and over again and one can make a fortune.

 

TaintedSquirrel

[H]F Junkie
Joined
Aug 5, 2013
Messages
10,463
Went all in on Etherum last week, 2 days before Elon's tweet. And I mean all in. Literally the single worst decision in my life, mostly due to bad luck (bad timing).
My entire net worth is down about 40% in 1 week, although I haven't sold yet. Fortunately I can survive without the money so I'm hoping it will at least break even in the coming months and I can get out.
 

96redformula

2[H]4U
Joined
Oct 29, 2005
Messages
2,568
Went all in on Etherum last week, 2 days before Elon's tweet. And I mean all in. Literally the single worst decision in my life, mostly due to bad luck (bad timing).
My entire net worth is down about 40% in 1 week, although I haven't sold yet.
Not financial advise but just about every single resource will advise things like single stocks or cryptos being a very small fraction ( less than 5% at a maximum) of your investments.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
11,273
Went all in on Etherum last week, 2 days before Elon's tweet. And I mean all in. Literally the single worst decision in my life, mostly due to bad luck (bad timing).
My entire net worth is down about 40% in 1 week, although I haven't sold yet. Fortunately I can survive without the money so I'm hoping it will at least break even in the coming months and I can get out.
I'm sorry for your loss. I sold my ETH on the way up at $1100-$1200 and felt I made out like a bandit. I don't think ETH is much more than a continuous experiment, and I personally don't trust it's coming back to $4k, or anywhere close. But I didn't think it would hit $4k either (or I wouldn't have sold at $1200). So what do I know.

Ultimately, history has proven ETH basically follows BTC, as do all crypto tokens. ETH was more independent this time, but if you zoom out and follow trendlines. BTC is still the tide.
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
I'm more upset that if I had waited 1 week it probably would've been the best investment ever, haha. Eth hit 1900-something this morning.
At present there is an oversold bounce, maybe short lived but for these types of periods it is very hard to determine if sustainable or another collapse will occur (at least from my prospective).

OversoldBounce.png
 
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obs

Supreme [H]ardness
Joined
Nov 4, 2002
Messages
4,663
Been following this guy for years, has been spot on or very close throughout and has made money going up or down. Fast paced, to the point, funny, gimmicky -> everything entertaining while at the same time very useful. Now 100 to 1 or or 100k to 1k or it doesn't work well I do not follow. It can be 10% over and over again and one can make a fortune.

This video was posted after the market already crashed over 30% within the previous 24 hrs and over 50% from it's highs.
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
This video was posted after the market already crashed over 30% within the previous 24 hrs and over 50% from it's highs.
He pretty much nailed it over a month ago on the possibilities and what he was looking for for the trends, put in a short recently at 48000 and still was riding it down, don't know if he is out of it now with the bounce. One video will not show the whole story, he started the warning shots way before the fall. Right now I do believe we are seeing a lot of bots and automatic orders come in as the price fell, once the owners wake up or other players, we just have to see where it goes. From past history usually you see just this while overall it continues to fall or a bear market trend.
 
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noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
Unfortunately they disabled margin I believe.


Buying more though, bounce is gonna be biggly.

We're still in an uptrend on the weekly chart... held the 30k on BTC. When there's a big move up, there's usually an equal move down cuz markets. 80K lets go :ROFLMAO:

View attachment 358046
The bounce is already big, if sustainable is another thing.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
11,273
Been following this guy for years, has been spot on or very close throughout and has made money going up or down. Fast paced, to the point, funny, gimmicky -> everything entertaining while at the same time very useful. Now 100 to 1 or or 100k to 1k or it doesn't work well I do not follow. It can be 10% over and over again and one can make a fortune.

Your boy nailed this drops bottom, for now.

subscribed. I watched this when you linked it, and he predicted the bottom absolutely perfectly.
 

noko

Supreme [H]ardness
Joined
Apr 14, 2010
Messages
6,274
Your boy nailed this drops bottom, for now.

subscribed. I watched this when you linked it, and he predicted the bottom absolutely perfectly.
He is very clear that he cannot predict, he uses TA to follow what a trend will look like going up or down and always having a plan to play it either way if the risks are low on the trade. He goes long, short or stays out of the market and usually makes money on the moves.
 

auntjemima

Supreme [H]ardness
Joined
Mar 1, 2014
Messages
8,020
Same, except you did not LOST anything UNLESS you sold them. Same for gain.
Well, if you put in 20k and now it's worth 10k, then you lost.

Luckily I never actually lost anything, per se. Just the profits I had made.
 

auntjemima

Supreme [H]ardness
Joined
Mar 1, 2014
Messages
8,020
No you don't.
Unless you sell it.
It's the same as losing money in the stock market. You start with 50 and now you have 25, you lost money. You can call it whatever you want .. down 25, lost 25, doesn't matter, it was capital you put in and now it's worth less.
 

funkydmunky

2[H]4U
Joined
Aug 28, 2008
Messages
2,694
you are constantly plotting and filling up drives as the more plots you have the more chance of winning a block.
it takes 90 plots give or take to fill up a 10TB drive, and your SSD just wrote 180+TB of data to create those plots.
That isn't constantly plotting. That is plotting until your drives are full. But I understand. Got a decent SSD that should do my modest 60TB plot with life to spare.
 
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