Bitcoin Thread

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Getting a new PS 5 in March so I am considering using my old PC as a mining rig instead of selling it. Currently have an I3 9100f, and GTX 1660 Super. Found this link not sure how much electricity costs but assuming I can make 1.5 dollars a day (12 hours mining) that's around R 8000k in a year which is slightly below the PC's value so it seems to make sense. Anyone here still mine ?


NiceHash - Leading Cryptocurrency Platform for Mining and Trading

www.nicehash.com www.nicehash.com
 
Thanks saor for your help the other day.
I got some bitcoin cashed out to an SA bank account via VALR and sent some to Binance where I switched a third to stable coin due to the graph above....sure looks like a massive bubble well overdue to blow up in everyone's faces....however the mania seems even more extreme this time so it could spike even further...its allready touched 740k ZAR which by the above graph would be close to an expected peak of this bubble.
 
flytek said:
Thanks saor for your help the other day.
I got some bitcoin cashed out to an SA bank account via VALR and sent some to Binance where I switched a third to stable coin due to the graph above....sure looks like a massive bubble well overdue to blow up in everyone's faces....however the mania seems even more extreme this time so it could spike even further...its allready touched 740k ZAR which by the above graph would be close to an expected peak of this bubble.
Click to expand...
Cool. Yeah, next few days are gonna be interesting to see which direction this goes. I'm a little weary of all the hype at the moment but who knows...can only watch the market now and trade carefully.
 
Everything about that chart and price looks like a price drop is coming but there's this sneaky feeling that BTC just decides **** it, let's go up up up.

Also, what I'm about to say isn't anything I'm taking seriously, it's just a random observation about the charts that would be mitigated by a log scale and is also a function of the scaling factors etc. So chill. Anyway. Start of the 2017 price increase the previous price history was still visible as a landscape with hills and valleys...

1.png

But once the full extent of the price was reached in Dec 2017 and viewed in the charts, the preceding landscape is almost flattened to a line...

2.png

Now imagine where the current price would need to go to achieve the same flattening of history...

3.png

4.png
 
lol saor. Is that the moon as a theoretical peak? Including the first massive peak and trying to flatten it may be skewing your attempt a little. However you could just as easily be spot on.

One would have thought 50K would be a serious resistance...

btc51k.jpg
 
That is one way to look at it. Another thing is that the price movements are still the same only they're a lot more protracted. If you view it on a logarithmic time scale this 50k pump looks a lot like the 20k one of Dec 2017 that went pear shaped in only a few days.
 
ya I agree and that is why I got my previously underwater stash of BTC out in the open...to sell it before it goes underwater again. Although this time the final pullback will probably still have it above water. Would be nice to sell near the peak and buy back double the amount 6 months later....or something
 
flytek said:
another way to look at it

View attachment 1022336
Click to expand...
I was looking at that 62 before pull back before heading to 80+, but looking at the way things are going trying to get these new highs over 50, I'm thinking max 55 before we're back at 42 (ie, I'm thinking it could dump anytime over next few days) /shrug
 
L-Dog said:
Getting a new PS 5 in March so I am considering using my old PC as a mining rig instead of selling it. Currently have an I3 9100f, and GTX 1660 Super. Found this link not sure how much electricity costs but assuming I can make 1.5 dollars a day (12 hours mining) that's around R 8000k in a year which is slightly below the PC's value so it seems to make sense. Anyone here still mine ?


NiceHash - Leading Cryptocurrency Platform for Mining and Trading

www.nicehash.com www.nicehash.com
Click to expand...
Yup. Mining Conflux on one and Beam on the other.

Nicehash is easiest, but you lose out on exposure to newer coins...and their potentially dramatic movements (for better or worse)
 
It will all come down to funding interest stacking up and the price acceleration slowing down.

If interest funding on long positions remain high as the price acceleration slows down then rest assured there will be a big sell off in order to reset interest funding back to default.

Basically if someone is long and the interest rate is eating 3 times a day into their long position profit and this interest rate is as high as it remains currently and the price does not keep going up to offset the funding rate interest then it gets to a critical point that getting out of your long position is the profitable decision and when the bulk of long positions have the same approach that is when a big dump kicks off.

Not a doom and gloom prediction just what tends to happen after a big runup and interest rates remaining so high day after day. After the big dump and interest rate reset I see no reason for it to not to climb right back up.
 
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