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iam
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PostPosted: Mon May 10, 2021 7:48 pm    Post subject: Cryptocurrency Thread

I am not a financial advisor. I'm a one-year old crypto baby. Anyone else in the crypto market?

First discussion topic: I've been in software industry for over 20+ years and investing in 3rd gen utility PoS blockchains feels a lot like investing in a programming language.

For example, ETH & ADA are comparable to the likes of .NET & Node.js

They each invented their own ecosystem and idioms for communities to develop with. Each crypto coin has its own vision; the coins with the communities that have the greatest amount of trust in the proposed visions go the furthest.

For mainstream use, consider how many programming languages are used everyday and at the end of the day they all just compile down to 1s and 0s. Java, C, C#, JavaScript, PHP, Python, GoLang. Imagine if you could monetize and invest in any one of these languages you'd be rich today. Doesn't even matter which one you pick, they were all used and were all successful and are all still successful.

Thoughts?
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C M B
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PostPosted: Mon May 10, 2021 7:57 pm    Post subject:

ETH is my pride and joy. I bought in big during its infancy and now it's going nuts.
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PostPosted: Mon May 10, 2021 8:07 pm    Post subject:

C M B wrote:
ETH is my pride and joy. I bought in big during its infancy and now it's going nuts.


The ETH2.0 migration is still a question mark... do you have an exit strategy considering issues with sustainability/gas fees or are you holding forever & ever & ever?
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PostPosted: Mon May 10, 2021 8:23 pm    Post subject:

I'm trying to get my beak wet with this. I was aware of Crypto and did some minor mining with my AMD card ~ 2011 or so. Don't even know where that wallet is. Things have moved on so much it's overwhelming. Is Mt. Gox (?) stsill around? Are any of you guys mining? If so which miner are you using? Are you guys trading on Voyager? Any good resources that cater to fairly noobs? The information I find out there is basically gibberish to me at this point. It feels like I'm trying to root a phone on XDA forums...there's just so much they assume I know and I don't.
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C M B
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PostPosted: Mon May 10, 2021 10:28 pm    Post subject:

iam wrote:
C M B wrote:
ETH is my pride and joy. I bought in big during its infancy and now it's going nuts.


The ETH2.0 migration is still a question mark... do you have an exit strategy considering issues with sustainability/gas fees or are you holding forever & ever & ever?


No strategy. I'm just going to sell when I hit my arbitrary milestone figure.
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PostPosted: Mon May 10, 2021 10:39 pm    Post subject:

C M B wrote:
iam wrote:
C M B wrote:
ETH is my pride and joy. I bought in big during its infancy and now it's going nuts.


The ETH2.0 migration is still a question mark... do you have an exit strategy considering issues with sustainability/gas fees or are you holding forever & ever & ever?


No strategy. I'm just going to sell when I hit my arbitrary milestone figure.



Does it involve buying the Lakers??? That's definitely my goal LOL
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C M B
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PostPosted: Mon May 10, 2021 11:06 pm    Post subject:

iam wrote:
C M B wrote:
iam wrote:
C M B wrote:
ETH is my pride and joy. I bought in big during its infancy and now it's going nuts.


The ETH2.0 migration is still a question mark... do you have an exit strategy considering issues with sustainability/gas fees or are you holding forever & ever & ever?


No strategy. I'm just going to sell when I hit my arbitrary milestone figure.



Does it involve buying the Lakers??? That's definitely my goal LOL


build them a new arena please
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Dr. Laker
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PostPosted: Tue May 11, 2021 6:48 am    Post subject:

The Ponzi Scheme of tech age (said in my grumpy old man voice).
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iam
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PostPosted: Tue May 11, 2021 8:30 am    Post subject:

Dr. Laker wrote:
The Ponzi Scheme of tech age (said in my grumpy old man voice).


I dont completely disagree but there are technologies that are trying to solve real world problems with utilities.
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PostPosted: Tue May 11, 2021 9:37 pm    Post subject:

Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.
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PostPosted: Tue May 11, 2021 10:29 pm    Post subject:

eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.
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misterchipmunk
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PostPosted: Wed May 12, 2021 8:21 am    Post subject:

I bough $24000 of Doge earlier this year at 0.05. I sold it and made some profit and then 4 weeks later that (bleep) skyrocketed.

That $24000 would have been 200,000 or 300,000 bucks!

(bleep) me man!
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Osama YoMama
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PostPosted: Wed May 12, 2021 9:54 am    Post subject:

C M B wrote:
ETH is my pride and joy. I bought in big during its infancy and now it's going nuts.


Congrats! I bought $5K @ 4,100. A little nerve wracking getting in so close to the ATH, but I really believe in this one.
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Oh it will be a blowout alright.

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Halflife
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PostPosted: Wed May 12, 2021 4:07 pm    Post subject:

elon no longer accepting bitcoin until theres less environmental stress should help drop the price.
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eddiejonze
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PostPosted: Wed May 12, 2021 7:09 pm    Post subject:

C M B wrote:
eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.

Good point, do you know if it requires the same electricity to mine as Bitcoin?
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PostPosted: Wed May 12, 2021 9:34 pm    Post subject:

eddiejonze wrote:
C M B wrote:
eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.

Good point, do you know if it requires the same electricity to mine as Bitcoin?


no idea
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Osama YoMama
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PostPosted: Thu May 13, 2021 7:43 am    Post subject:

eddiejonze wrote:
C M B wrote:
eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.

Good point, do you know if it requires the same electricity to mine as Bitcoin?


At the moment, it's second behind BTC in energy use. However, ETH has pledged that it will endeavor to lower its consumption by 90%.

Lots riding on the rollout of ETH 2.0.
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Oh it will be a blowout alright.

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C M B
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PostPosted: Thu May 13, 2021 6:23 pm    Post subject:

Osama YoMama wrote:
eddiejonze wrote:
C M B wrote:
eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.

Good point, do you know if it requires the same electricity to mine as Bitcoin?


At the moment, it's second behind BTC in energy use. However, ETH has pledged that it will endeavor to lower its consumption by 90%.

Lots riding on the rollout of ETH 2.0.


Can you tell me more about ETH 2.0?!?
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PostPosted: Fri May 14, 2021 3:06 am    Post subject:

eddiejonze wrote:
C M B wrote:
eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.

Good point, do you know if it requires the same electricity to mine as Bitcoin?


Cardano is another low energy/sustainable option that has been taking off recently. The price is still relatively low compared to other coins.
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PostPosted: Mon May 17, 2021 8:43 am    Post subject:

C M B wrote:

Can you tell me more about ETH 2.0?!?

Currently Ethereum is a proof of work crypto like bitcoin which means in order to mine coins you have to have some hefty computer hardware to make a profit from mining. Eth 2 is moving from proof of work to proof of stake. If you hold ether and delegate that ether to a stake pool then you generate passive income just buy holding the coin. This locking up of the coin is what secures the network. Uses way less power as a whole. On top of this Eth 2 is going to drastically lower transaction fees on the network. Currently Eth is very expensive to transact on making it unusable unless you are moving large amounts. The problem with Eth is that it was never designed to scale as they never thought it would be this successful. It's going to take awhile for them to sort this out. Years most likely.
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PostPosted: Mon May 17, 2021 8:48 am    Post subject:

BadGuy wrote:

Cardano is another low energy/sustainable option that has been taking off recently. The price is still relatively low compared to other coins.

You want to make sure you are looking at the marketcap of these projects and not the price of the coin. Each coin has a different supply so the price alone doesn't tell the story. Although the price of ADA is cheap the market cap is still 65 billion. ADA is a great project and they are here for the long haul so definitely worth checking out.
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eddiejonze
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PostPosted: Mon May 17, 2021 11:16 am    Post subject:

LakersGirl4Life wrote:
BadGuy wrote:

Cardano is another low energy/sustainable option that has been taking off recently. The price is still relatively low compared to other coins.

You want to make sure you are looking at the marketcap of these projects and not the price of the coin. Each coin has a different supply so the price alone doesn't tell the story. Although the price of ADA is cheap the market cap is still 65 billion. ADA is a great project and they are here for the long haul so definitely worth checking out.

What are your guys views on Doge?
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PostPosted: Mon May 17, 2021 1:04 pm    Post subject:

eddiejonze wrote:
LakersGirl4Life wrote:
BadGuy wrote:

Cardano is another low energy/sustainable option that has been taking off recently. The price is still relatively low compared to other coins.

You want to make sure you are looking at the marketcap of these projects and not the price of the coin. Each coin has a different supply so the price alone doesn't tell the story. Although the price of ADA is cheap the market cap is still 65 billion. ADA is a great project and they are here for the long haul so definitely worth checking out.

What are your guys views on Doge?


Scam, stay away. One thing to buy as a funny joke when it was .0002 and luck into a nice bit of money; different thing entirely to chase an impossible high hoping there's a greater fool longing for your bag of .50 doge.
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jonnybravo
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PostPosted: Mon May 17, 2021 3:27 pm    Post subject:

eddiejonze wrote:
C M B wrote:
eddiejonze wrote:
Bought in to Doge at 33 cents, then it shot up 4 days straight till 69 cents saturday morning but Elon Musk calling it a hustle on SNL dropped it back to where it is now.
I tried to buy a bitcoin when it was $6000 per but lost interest in the whole process of buying one...KICKING myself now.


Etherium is still pretty young.

Good point, do you know if it requires the same electricity to mine as Bitcoin?


It uses a ton as well. If you don't already have the hardware, don't even bother. A 3080 is selling for 3x price at least for a new card on 2ndary market. Lot of people are turning to laptops. For me I'm getting 300 mhash with just gear I own although I did spring for an Alienware desktop with a 3080 for non marked up price. (thankfully I have solar). A lot of people are buying premades and flipping the system minus gpu. Don't bother with anything other than an Alienware if that's your intention since they're the easiest to sell off. The system I got was $2000 after taxes, discounts, cash back and whining to Dell. Minus the 3080 I could probably get 6-700 for it so it'd be basically $1400ish for the video card alone. Steep price to pay but I wanted one anyways.
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PostPosted: Wed May 19, 2021 11:59 am    Post subject:

Imagine if keeping your car idling 24/7 produced solved Sudokus you could trade for heroin
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