How many people are going broke?

Riccochet said:
A lot of alt coins had a small run up then dropped back off and leveled out. This one bumpy ride. lol
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My alt coins are down like 40% since I bought them. :( It's not technically a loss until I get rid of them though... so I guess I'll sit on them for several months or years and see if they rebound.

Mining is still profitable and I'm getting around $50 every 3 days from ETH (down from $120 every 3 days two months ago). I just wish I hadn't bought a bunch of other coins the day before they all crashed.
 
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I'm actually wondering how far down they'll go, I just registered at Kraken and would like to make a purchase of some alt coins but I'm not sure what the expected low would be

Anyone got any clues on that? I haven't been verified yet but when the time comes I think I'm going to snatch up some RIPPLE and maybe some HUSH
 
PiERiT said:
My alt coins are down like 40% since I bought them. :( It's not technically a loss until I get rid of them though... so I guess I'll sit on them for several months or years and see if they rebound.

Mining is still profitable and I'm getting around $50 every 3 days from ETH (down from $120 every 3 days two months ago). I just wish I hadn't bought a bunch of other coins the day before they all crashed.
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You never know, but I sold off 3300 dash when it dropped under $10 because I lost faith in it. I'd be sitting pretty if I would have just held and sat on it.

I'm not saying that if you hold you'll win big, but if you truly believe in the coin you invested in, just hold it and choose when to get out with a profit.
 
Vaulter98c said:
I'm actually wondering how far down they'll go, I just registered at Kraken and would like to make a purchase of some alt coins but I'm not sure what the expected low would be

Anyone got any clues on that? I haven't been verified yet but when the time comes I think I'm going to snatch up some RIPPLE and maybe some HUSH
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August 1st is coming fast. Could blast off, could fall off a cliff, or just roller coaster.

This is legal gambling...
 
RevMen said:
Good luck with that. I've been waiting for about a month.
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I noticed that in reviews, seems like all recent reviews of everything except coinbase were showing the same thing, I guess there's literally 10's of thousands, I've even heard a few million on some sites, people getting into the crypto world recently with the ETH hike and it makes sense that some of these suck recently. I've done $50 on coinbase back at 260 for ETH but everyone says avoid coinbase lol
 
Probleminfected said:
Most folks who figured all this out late haven't even gotten their equipment yet and its already tanking.
The panic sell is real and whales are eating it up.
A flood of cheap gpus incoming.
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So time to cash in and stop GPU Mining?
 
What's this August 1st stuff? Is that the split?

I too use Bittrex. I started with Poloniex but two of my ETC transfers to there never made it through, and they haven't replied to my support ticket in over two weeks.
 
I don't think gpu mining is done, there are other coins out there
 
PiERiT said:
What's this August 1st stuff? Is that the split?

I too use Bittrex. I started with Poloniex but two of my ETC transfers to there never made it through, and they haven't replied to my support ticket in over two weeks.
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Yeah, on Aug 1 there is a very real chance that Bitcoin will split into two currencies / two block chains, and things can get weird from there. It is even possible for one of the bitcoin currencies to exist for a while and then go *poof* at some point in the future. It all depends on how much hash power winds up behind each chain.
 
If we keep our BTC in exodus what do you think will happen to it? Should I install the classic BTC client and make a fully offline wallet? I don't mine BTC but then again I've got a small amount but I'd hate to lose enough I could purchase a GPU with lol
 
imre said:
So time to cash in and stop GPU Mining?
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Little late to cash out, but selling way over priced cards, yes, I'd get rid of them while you still can and buy 1080ti's instead. At least the 1080tis will hold their value.
 
Vaulter98c said:
If we keep our BTC in exodus what do you think will happen to it? Should I install the classic BTC client and make a fully offline wallet? I don't mine BTC but then again I've got a small amount but I'd hate to lose enough I could purchase a GPU with lol
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The core btc wallet is a massive download, but it is the safest for this possible split. There are other safe ways out there though.
 
Vaulter98c said:
I'm actually wondering how far down they'll go, I just registered at Kraken and would like to make a purchase of some alt coins but I'm not sure what the expected low would be

Anyone got any clues on that? I haven't been verified yet but when the time comes I think I'm going to snatch up some RIPPLE and maybe some HUSH
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Clues on what exactly? Predicting the future? Crystal balls haven't been invented yet.
 
odditory said:
Clues on what exactly? Predicting the future? Crystal balls haven't been invented yet.
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No but some people seem to be able to predict these markets better than others. Nothing is guaranteed but just like in stocks there are people that have pretty good ideas of the general flow of things.
 
Vaulter98c said:
No but some people seem to be able to predict these markets better than others. Nothing is guaranteed but just like in stocks there are people that have pretty good ideas of the general flow of things.
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Crypto is nowadays unpredictable, i.e. we have no real fundamentals. The market is defined by whales, panic sellers, noobs and some traders trying to apply traditional TA in such a market. Unfortunately, Technical Analysis of cryptocoin market movements is worth as much as a coin toss, probably less.

My advice is just read everything you can to at least maintain a thorough understanding of crypto currency and how it works, the differences between the top coins. To begin to try speculating on it without at least that baseline understanding is folly.
 
It's hard predicting coins, you need to read whitepapers, research developers (if they are anonymous then it's a warning sign), look at the coin features, try to predict how accepted it will be in the future, etc. But it sure as hell did make some people dirty rich in short time.
I bought 115k Espers when they were at their highest, now they are 1/5th of their value. It only cost me about $100 so I'm holding, maybe in 2-3 years they will rise. I have invested in Waves, Shift and ARK as those seem promising, got some Hush as well as I expect the price to rise in 6 or so months as they have limited quantity, will soon be released on bigger exchanges and there is some nice progress planned.
 
I had mined BTC years ago and had 7.463221 coins saved. I'm starting to think that I did okay. I sold two coins at $2673 each, bought some parts to mine with (also bought a Savage 10ba stealth, CZ SP01 tactical and an Osprey 45 can) that I wouldn't mind having afterwards, Z270E motherboard and an open box 7700K and it's been running two 1080ti's and 4 1070's. This was bought during the whole wannacry ransomware BS.

Since then the machine managed to pay off two of the 1070's. I've been lazy and just run nice hash. The big question is do I return two of the 1070's to Best Buy since tomorrow is the last day or keep on mining.
 
Another big crash incoming as everybody cashes out for August 1st.

Could be an amazing time to buy in when everybody else is running scared.
 
Probleminfected said:
I agree. But unless he got burned on the price when he bought them, he can just sell them and break even or make a few bucks.
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I should have worded that better, the two up for return haven't been used yet. The motherboard I'm running only supports 6 devices. I was considering replacing the 1080ti's. They were bought for $399 a piece.
 
I bought $5k worth of Eth at $325 each.

I'm holding.

Wish I had known it was crashing down to under $200.
 
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Vaulter98c said:
I'm actually wondering how far down they'll go, I just registered at Kraken and would like to make a purchase of some alt coins but I'm not sure what the expected low would be

Anyone got any clues on that? I haven't been verified yet but when the time comes I think I'm going to snatch up some RIPPLE and maybe some HUSH
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I just got approved to level 2 on Kraken. Took a month. You will be waiting forever.
 
PiERiT said:
My alt coins are down like 40% since I bought them. :( It's not technically a loss until I get rid of them though... so I guess I'll sit on them for several months or years and see if they rebound.

Mining is still profitable and I'm getting around $50 every 3 days from ETH (down from $120 every 3 days two months ago). I just wish I hadn't bought a bunch of other coins the day before they all crashed.
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I don't think we've seen bottom yet for most of the trash coins. This is where ETH proves if its real or just another litecoin.
 
Staples said:
I just got approved to level 2 on Kraken. Took a month. You will be waiting forever.
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I made my account on the 12th. Today I got confirmation I made it to 2 and the guy told me that my identity pic needs to be better and then I'll get my 3. And considering I made my kracken account at 11 pm that's practically 2 days, so yea that looks like its getting better
 
I just replied with the new identity picture, I'm not sure how the first one was not good enough but hopefully this one will work, I'll let ya know how long this takes, seems like its going much quicker than others were saying in the past
 
mkrohn said:
I don't think we've seen bottom yet for most of the trash coins.
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No we haven't, even for BTC and ETH. But the volatility is good. It burns out the bandwagoners and nicehash kiddies. Fry's shelves today were full of returned 1060s and 1070s; good news for anyone that understands the meta beyond "One weird trick to get FREE CA$H from your gaming PC" youtube videos, and recognizes which metrics are most important in the mining game (hint, it's not "how much you're making" in fiat).
 
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it's funny tho there's literally over 10 grand in folding cards in the FST forum right now lol, if prices get a bit better I may pick a few up for long haul
 
Vaulter98c said:
it's funny tho there's literally over 10 grand in folding cards in the FST forum right now lol, if prices get a bit better I may pick a few up for long haul
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Yeah, I can see people dumping cards already. eBay prices are down to $250-$275 ea instead of the usual $300+
 
Vaulter98c said:
it's funny tho there's literally over 10 grand in folding cards in the FST forum right now lol, if prices get a bit better I may pick a few up for long haul
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Prices won't get better for a while. There's pent up demand from gamers, and longer term miners and mining operations that are doubling down because they have an understanding of the meta.
 
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odditory said:
Prices won't get better for a while. There's pent up demand from gamers, and longer term miners and mining operations that are doubling down because they have an understanding of the meta.
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That's my feeling as well. The real miners are holding and mining alt coins. Nothing will change when there are too many pump'n'dump opportunities.
 
odditory said:
Prices won't get better for a while. There's pent up demand from gamers, and longer term miners and mining operations that are doubling down because they have an understanding of the meta.
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I doubt that. Many late comers who are not crypto believers are shitting bricks right now with BTC and ETH crashing down hard
 
Vaulter98c said:
I made my account on the 12th. Today I got confirmation I made it to 2 and the guy told me that my identity pic needs to be better and then I'll get my 3. And considering I made my kracken account at 11 pm that's practically 2 days, so yea that looks like its getting better
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Glad to hear it. I eventually just signed up at coinbase and was approved and buying with my bank account in under a week. If anything, the delay kept me from buying Eth at $400 each.
 
It actually appears that the current ongoings in the mining scene have caused an increase in 1080ti prices. A 6 card mining rig based off of 1080ti cards recently sold for $4500 on eBay.
 
That puts the cards at $750 a piece, not accounting for any other hardware that might have been included. That's about where the price for those cards have always been.
 
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