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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 2212

post #22111 of 22312
Quote:
Originally Posted by Darkpriest667 View Post

I agree, if you have that much capital you should be trading for 1 or 2% a day and you'd make a ton[/quote

What's the most efficient way to trade along the margins like that then? I don't know if he is willing or I am willing to sit glued every day trying to maximize that investment. I get that anything can take work, but if I'm at work 14-16 hours out of the day, I just won't be physically able to do that.

As some one who is attempting to do this. . . it works but it's annoying. I would need a lot of capital to make it worth it relative to a decent job. But being constantly available does allow me to A. ride a rocket up with high volume becuase I know i'll be tehre to set new stop limits.

B* sell everything when necessary

Imagine setting up alarms for your portfolio so it blares at you every time something is happening. And having to trade on your phone because markets never close

It's super profitable to just be there for obvious moments of market momentum. And often just playing the coin of the day can be good too

Like BTC took off today and alts hit a bottom. . . .Buy that bottom and profit. Easy to do as long as you were there and had alerts set up to get out then get back in. Just bought some of the coins i like when BTC look like it was slowing down and there was some bottom on the candles.

Blockfolio and Bitcoinchecker are great on droid. . .

But all of this is pointless if you can't access your account to trade basically 24/7

For people who can't/don't want to put the labor in it should just try to pick a bottom on a coin and hodl for dear life. It's not like wallstreet crypto markets never close and volatility is massive.
Edited by Juicin - 10/22/17 at 12:10am
post #22112 of 22312
Quote:
Originally Posted by Darkpriest667 View Post

Its also possible to lose your ass mining. Especially if you don't know what you're doing.. you can mine some coin that is worth 300 today but tomorrow is worth nothing. He's not going to be mining BTC so that leaves ZEC ETH and a few others.. if he uses nice hash it only supports 8 GPUs (last i checked) which means his 10k is worthless past the 8 GPUS... and then there is the fact the buyin cost for mining is now higher than it ever was before.


You gotta take a risk somewhere. My advice is wait until after the forks when BTC goes down to 3500 and buy 3 BTC and sit on it for a year.
What? You don't actually think nicehash has a limit to gpu's do you? Unless you're talking about some windows software limitation.
Not to sound rude but do you honestly think they are going to LIMIT themselves to 8 gpu if a person wants to connect 100 gpu to their service? That would be a moronic business model.
Might want to stop giving advice if you don't even understand how a service works.

Quote:
Originally Posted by Balsagna View Post

Those were just number games. Basically, the investor doesn't really have a limit per say. He's all at just trying to turn a profit. Could be 3,000, 8,000, 20,000. It just has to have a valid reason behind it.

LIke I said, I honestly wouldn't, because it's not nearly as profitable and me, personally... I wouldn't want to put in the work to make it profitable either, especially with wear and tear in my own household.
However, when I was reading that a certain setup is mining 0.36 ETH a day, it makes me almost want to do it.

If all he's going to see is a couple hundred a month AFTER the fact that his investment is paid off, it's not really worth it. The only real worthiness is if you can just mine what you need, and hopefully, exchange it for another crypto that's doing well and start trading that way as well. That way, you know you can always mine something even once it's paid off. Rather than always using hard earned cash to do it.
He definitely has a limit, just like all investors do. People don't go about the real world going "all-in" with their liquid assets.

Turning a buck from mining requires knowledge of various things, you're not going to make a profit unless you mine early and hold long. Also you could mine just at the right time and earn a good profit and re-sell the hardware.

If your investor does not have a project manager creating a thorough plan, then he is just fantasizing about the idea of making money in crypto. The valid reason would be showing him the proof when bitcoin was $30, then $300, then $3000, and then $6000. Is he honestly trying to "turn a profit" in 3months or is he willing to invest in a 3year plan and watch ridiculous growth? Be prepared for the crashes, be prepared to buy coins that is.
post #22113 of 22312
Quote:
Originally Posted by Darkpriest667 View Post

Its also possible to lose your ass mining. Especially if you don't know what you're doing.. you can mine some coin that is worth 300 today but tomorrow is worth nothing. He's not going to be mining BTC so that leaves ZEC ETH and a few others.. if he uses nice hash it only supports 8 GPUs (last i checked) which means his 10k is worthless past the 8 GPUS... and then there is the fact the buyin cost for mining is now higher than it ever was before.


You gotta take a risk somewhere. My advice is wait until after the forks when BTC goes down to 3500 and buy 3 BTC and sit on it for a year.
It will depend on how the guy's connection is in getting decently priced "good mining GPUs"

I've seem someone opening a thread in my local second hand market listing a non-mining RX 580 at $450 USD

Why? Because he bought it at $500 USD for God-knows-what



Just have to know your stuff before going in. If the guy has no connections and no knowledge on mining prior to asking, ya it's probably not a good idea to get into it at this moment.

I myself took the half-and-half path. I spent about $1800~2000 for a 1000w mining rig (I managed to have someone place my rig somewhere with free electricity, then stuffed an extra 1070 onto my main rig to have a total of 6 GPUs mining at night, and 4 when I need my main rig for personal use. After that, I just put the remaining funds that I'm willing to invest straight into Kraken.

So I have a decent pool of capital to play with, and some small but stable income on the side.
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post #22114 of 22312
Quote:
Originally Posted by JamesMadison76 View Post

What? You don't actually think nicehash has a limit to gpu's do you? Unless you're talking about some windows software limitation.
Not to sound rude but do you honestly think they are going to LIMIT themselves to 8 gpu if a person wants to connect 100 gpu to their service? That would be a moronic business model.
Might want to stop giving advice if you don't even understand how a service works.
He definitely has a limit, just like all investors do. People don't go about the real world going "all-in" with their liquid assets.

Turning a buck from mining requires knowledge of various things, you're not going to make a profit unless you mine early and hold long. Also you could mine just at the right time and earn a good profit and re-sell the hardware.

If your investor does not have a project manager creating a thorough plan, then he is just fantasizing about the idea of making money in crypto. The valid reason would be showing him the proof when bitcoin was $30, then $300, then $3000, and then $6000. Is he honestly trying to "turn a profit" in 3months or is he willing to invest in a 3year plan and watch ridiculous growth? Be prepared for the crashes, be prepared to buy coins that is.

Yeah, he has no clue what he's talking about but AFA the bolded well I just did. smile.gif
post #22115 of 22312
Quote:
Originally Posted by HarrisLam View Post

It will depend on how the guy's connection is in getting decently priced "good mining GPUs"

I've seem someone opening a thread in my local second hand market listing a non-mining RX 580 at $450 USD

Why? Because he bought it at $500 USD for God-knows-what



Just have to know your stuff before going in. If the guy has no connections and no knowledge on mining prior to asking, ya it's probably not a good idea to get into it at this moment.

I myself took the half-and-half path. I spent about $1800~2000 for a 1000w mining rig (I managed to have someone place my rig somewhere with free electricity, then stuffed an extra 1070 onto my main rig to have a total of 6 GPUs mining at night, and 4 when I need my main rig for personal use. After that, I just put the remaining funds that I'm willing to invest straight into Kraken.

So I have a decent pool of capital to play with, and some small but stable income on the side.

lol you dont' need connections to mine

Just go to bitcointalk

There will be a thread on your specific GPU. . .. Look waht people are mining

It is almsot never a top coin. It takes a bit of labor but no connections.

Although atm Vert is probably most profitable. . . Most of the time it's some obscure coin you want to sell daily. Or at most keep while you think it's at a bottom.

Signatum which runs on skunkhash was the most profitable for months on nvidia since the eth crash. . . Very small coin

Dumpstered earnings on ZEC and ETH and pretty much eevry other coin for nvidia cards
post #22116 of 22312
Quote:
Originally Posted by Hueristic View Post

Yeah, he has no clue what he's talking about but AFA the bolded well I just did. smile.gif

Guess he don't know

http://www.independent.co.uk/news/world/europe/man-sells-everything-for-bitcoin-moves-family-to-campsite-a7994751.html

Are you the dutchman ?
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post #22117 of 22312
Hi Folks!

Quick questions given that bitcoin's near $6k.

Would it be better to put a pc together and mine various coins using nicehash, pick up an Antminer S9 and mine only bitcoin or neither?

A decent build, reusing a few parts, with 5 gtx1060's runs roughly the same price as one of the new S9's. Using the nicehash calc...
- 5x 1060's= ~$210/month revenue - 56 electric= $154/month profit. $1,800/154= ~12 months payback
- Antminer S9= ~$600/month revenue - 155 electric= $445/month profit. $1,800/445= ~ 4 months payback

Thoughts?
Edited by funsoul - 10/22/17 at 5:44pm
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post #22118 of 22312
Quote:
Originally Posted by funsoul View Post

Hi Folks!

Quick questions given that bitcoin's near $6k.

Would it be better to put a pc together and mine various coins using nicehash, pick up an Antminer S9 and mine only bitcoin or neither?

A decent build, reusing a few parts, with 5 gtx1060's runs roughly the same price as one of the new S9's. Using the nicehash calc...
- 5x 1060's= ~$210/month revenue - 56 electric= $154/month profit. $1,800/154= ~12 months payback
- Antminer S9= ~$600/month revenue - 155 electric= $445/month profit. $1,800/445= ~ 4 months payback

Thoughts?

The thing about antminer is the guys selling you the stock can also bring out new stock at any time. Things that will kill your profitability, or just flood the market with hash.

IDK the details but you need to be very sure you're buying at the right time on those antminers.
post #22119 of 22312
Thanks Juicin

Yeah man...want to be careful hence my questions. Hoping someone with enough experience can assist or point me to some good threads, etc.
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post #22120 of 22312
Quote:
Originally Posted by Hueristic View Post

Yeah, he has no clue what he's talking about but AFA the bolded well I just did. smile.gif



I wasn't telling him to throw all of his assets into one thing.. as far as who doesnt know what they're talking about.. If we'd all listened to you we'd be thrashed on a crap coin right now.. But whatevs I have made my money and I hope everyone else made theirs
 
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