Cryptocurrency (7 Viewers)

[Dostoevsky]

Yep, did some math on my own for my country but the electricity cost are too high.

People are investing in it here like crazy. A lot of companies are (were) buying GPUs for around 50k euros and going for mass mining.

Even small family business is possible, like I said, with 1k investment. I know some people who mine it. My ex boss.

I've seen some warehouses in Scandinavia where they have around 70k PCs digging 24/7

 

Buy on AliExpress.com

[Sir Miss-A-Lot]

Oh... that mining requires a lot of hardware doesn't it?

Not really, you can cloud mine it.

Anyway, for a lot of currencies you really have to take in investments in hardware and electricity costs, remember that the stuff you are mining have exchange rate risk.

 

[Quetzalcoatl]

Not really, you can cloud mine it.

Anyway, for a lot of currencies you really have to take in investments in hardware and electricity costs, remember that the stuff you are mining have exchange rate risk.

Not gonna do any mining. Just buy BC and hodl

 

[X Æ A-12]

People are investing in it here like crazy. A lot of companies are (were) buying GPUs for around 50k euros and going for mass mining.

Even small family business is possible, like I said, with 1k investment. I know some people who mine it. My ex boss.

I've seen some warehouses in Scandinavia where they have around 70k PCs digging 24/7

is that actually cost effective?

 

[Dostoevsky]

is that actually cost effective?

1k investment for mining? It is. It's buying 4 decent/good graphic cards and that's about it. You're already on a 0 after 5 months or so, and later on it's pure profit dipping in the pocket. It's around 250e per month. It might not sound like much but remember it's what majority of people earns here monthly.

 

[lgorTudor]

Not gonna do any mining. Just buy BC and hodl

I bought
https://coinmarketcap.com/currencies/neo/
at $5

also this is gonna be awesome
https://coinmarketcap.com/assets/omisego/

but of course, the actual btc is the safest

 

[Nomuken]

Wish I bought Bit Coins in 2009 hell even 2011.

 

[lgorTudor]

Wish I bought Bit Coins in 2009 hell even 2011.

The problem is that we would have sold them as soon as they reached $50 or so The only ppl who held them all the way through are those who lost their private keys

 

[Nomuken]

Damn for those who lost private keys, i can't imagine how many fought from jumping off a bridge.

 

[Quetzalcoatl]

I bought
https://coinmarketcap.com/currencies/neo/
at $5

also this is gonna be awesome
https://coinmarketcap.com/assets/omisego/

but of course, the actual btc is the safest

When are you going to sell? And what made you decide to buy those two?

 

[lgorTudor]

When are you going to sell? And what made you decide to buy those two?

never, I'm not a trained daytrader so I just hold maybe for a year. NEO will go through a correction because the latest pump was too steep. I can see it go below 10 dollars in next weeks. I am just not knowledgable enough to daytrade. Imagine I sell and it pumps up and I get pushed out of my position.

Why I picked those?
NEO is a smart contract platform, like Ethereum but it's compatible to multiple programming languages, claims to be quantum proof, superior security system, and chinese will love to adopt their own over eth. That's the gamble, since they have preferred stuff like wechat and alibaba over western stuff. Also lowish market cap at that point and relatively low supply. Their developers are straight forward no bullshit answers, no promises, no excuses, on point kind of guys. They've been editing their code daily. You could see that because it's open source on github.


OMG is a platform, call it digital wallet app, for people to seamlessly exchange between crypto and fiat and to send their currency of choice peer to peer. The direction is crypto mass adoption and giving the bankless people of the world a digital financial platform. There is cooperation with McDonalds. Their dev team is extremely prominent and Vitalik Buterin is a close advisor for them. The wallet will be released it Q4.

OMG is actually really exciting because the product is supposed to be the closest to real world application as I've seen a blockchain application go. I can see many retailers adopting this.

 

[Quetzalcoatl]

never, I'm not a trained daytrader so I just hold maybe for a year. NEO will go through a correction because the latest pump was too steep. I can see it go below 10 dollars in next weeks. I am just not knowledgable enough to daytrade. Imagine I sell and it pumps up and I get pushed out of my position.

Why I picked those?
NEO is a smart contract platform, like Ethereum but it's compatible to multiple programming languages, claims to be quantum proof, superior security system, and chinese will love to adopt their own over eth. That's the gamble, since they have preferred stuff like wechat and alibaba over western stuff. Also lowish market cap at that point and relatively low supply. Their developers are straight forward no bullshit answers, no promises, no excuses, on point kind of guys. They've been editing their code daily. You could see that because it's open source on github.


OMG is a platform, call it digital wallet app, for people to seamlessly exchange between crypto and fiat and to send their currency of choice peer to peer. The direction is crypto mass adoption and giving the bankless people of the world a digital financial platform. There is cooperation with McDonalds. Their dev team is extremely prominent and Vitalik Buterin is a close advisor for them. The wallet will be released it Q4.

OMG is actually really exciting because the product is supposed to be the closest to real world application as I've seen a blockchain application go. I can see many retailers adopting this.

I see. New coins are joining the market all the time, offering their own supposedly unique features. Without a lot of technical knowledge, it's hard to know which ones really stand out and have a real future.

 

[swag]

I prefer kleptocurrency myself

 

[PhRoZeN]

You guys talking about cryptocurrency gave marty a scare so he installed security patches.

Sent from my SM-G930F using Tapatalk

 

[Quetzalcoatl]

That bitcoin price.....

 

[lgorTudor]

That bitcoin price.....

it sucks, too expensive to get in

btw TenX is a project I am excited about right now. It's a VISA debit card you can deposit cryptocurrency on with an app and pay everywhere in the real world where VISA is accepted

https://www.youtube.com/watch?v=oLUQzRxs5Ek&feature=youtu.be

 

[IliveForJuve]

Good money in it at the moment.

Mining currency is getting a lot of money here with the lower cost of eletricity. There's a huge lack of GPU at the market but with the investment of ~1000 euros I think it's possible to earn ~270e per month.

Yep, did some math on my own for my country but the electricity cost are too high.

How did you guys do the math? I can't seem to find an average of electricity consumption when mining.

 

[lgorTudor]

How did you guys do the math? I can't seem to find an average of electricity consumption when mining.

your card(s) will be running full power so you can pretty much look what is says on the lable

 

[v1rtu4l]

I see. New coins are joining the market all the time, offering their own supposedly unique features. Without a lot of technical knowledge, it's hard to know which ones really stand out and have a real future.

that is why i would advise anybody to stay clear of cryptocurrency. there was an article in a computer newspaper in germany about how to mine and guess what happened to that currencies value ? it dropped considerably because every scrub and their dog started to mine it. Then you need to think about asia where the price for power is way lower then in europe and on top of that they do not have any regulations, so a company could just "outmine" everyone else and decide to make all that mined currency to real money leading to a flood of available currency and a steep drop of price.

another problem is finding a reliable platform to trade. these platforms are an easy target for hackers and if the platform provider does not fuck you there will be a hacker if the value is big enough. too many scrubs that are not knowledgabe about IT security in this whole scheme to make it a good investment.

that are just my 2 cents of gencoin

 

[lgorTudor]

that is why i would advise anybody to stay clear of cryptocurrency. there was an article in a computer newspaper in germany about how to mine and guess what happened to that currencies value ? it dropped considerably because every scrub and their dog started to mine it. Then you need to think about asia where the price for power is way lower then in europe and on top of that they do not have any regulations, so a company could just "outmine" everyone else and decide to make all that mined currency to real money leading to a flood of available currency and a steep drop of price.

another problem is finding a reliable platform to trade. these platforms are an easy target for hackers and if the platform provider does not fuck you there will be a hacker if the value is big enough. too many scrubs that are not knowledgabe about IT security in this whole scheme to make it a good investment.

that are just my 2 cents of gencoin

classic German Dinosaur views

Not only that bittrex has no history of security breaches when it comes to their 2FA protected accounts, you dont even store crypto on exchanges. You use encrypted wallets like exodus that have no history of getting hacked either. There are hardware cold wallets like the Ledger if you are particularly nervous or own a huge portfolio.