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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

AceVentures

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When you discovered the iPhone - did you think that people were going back to using Blackberries?

When you discovered Uber - did you think people were going to instead hail cabs and get jipped by a**hole Taxi drivers?

When you discovered Social Media - did you think people were going to ditch the internet thing and go back to writing each other letters instead?

When you discovered self-sovereignty - did you think people would instead prefer to submit to a set of rules that work against them? Within a rigged game?

Our laws of governance were created and evolved during times of chaos. People couldn't organize and couldn't agree with one another. Few had access to education and information was withheld to enforce power. Brute force had to be used to establish legitimacy.

None of our previous thousands of years of existence could leverage the network consensus mechanisms that the internet provides the collective. Imo this is bigger than currencies - it's about establishing a framework for governance using game-theory to coordinate behavior.

Idk man... from my own short-lived experience I have discrete examples of disruptive technology changing the game in an overall net positive way.

I'll take my magic internet beans and wait until the equilibrium line shifts - for now I'm happy being the crazy hopeful outlier.
 

Kevin88660

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I need some cheering :(

had 700k matic and 2000bnb which I hold for ages (even tax free in my country after 1 year hodl ) Sold it all before it blew up and now Iam sad asf. Could be a legit two times millionaire now :( now Iam far from even a quarter million. Should have just hodled. f*cking paper hands
I was early miner of ltc in 2013 and sold all in 2014 hype and missing out the 100x bull run in 2017.

I also bought doge at 0.02-0.05 and sold them at 0.08-0.10.

Rest assured that it happens to millions of people on a daily basis.
 

Antifragile

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@AceVentures

you make a great point (again).

I remember thinking the iPad was a dumb idea because it didn’t even have external storage. Since then I’ve owned like a dozen of them.

I’m also convinced that everything, every investment is cyclical and will have highs and lows. This means that even if ETH is worth 100,000usd. It will go higher than that and then correct down.

I wish I knew the peaks and valleys, I don’t. But I know it’ll continue being cyclical
 
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GPM

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Buying my first mining rig, maybe 2 tomorrow off some guy. He says he has 12 rigs making 2k a day, he’s invested 90k all up. That’s a crazy roi.
What are you paying for it? This is a card that does well on the ethereum algorithm, and not great on others. Go to whattomine and check it out.

Keep in mind ethereum payments are going to drop by 40-50% in mid July when EIP1559 hits the streets, and then go to 0 when ethereum goes PoS. That means you will have to mine firo or raven or something and the rx580 isn't great st that.

It all depends on what you pay for the rig.

I personally have 14 rx580 cards. I almost sold a 13 card rx580 rig for 4.5 ethereum about 2 months ago. I'm kicking myself now for it lol. But hey whatever, it's still just sitting there printing money for me.

Keep in mind the rx580 is a super old card too. If this person didn't take care of it it could be in bad shape. If he really has as many rigs as he says he does, he may have taken good care of his stuff though
 

MitchC

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Yeah my bad I paid $6700aud which I worked out to take 100-130 days to pay itself off, looks like I don’t have 100 days to do that so yeah oops.

I knew I was late to the party but I didn’t realise the party was about to end.
 

James Fake

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Although it looks like I'm inactive; I browse through most of the posts.

Whether right, wrong, etc. I can say with 110% the regulars (a core of 10-12) are some f*ckin' rockstars.

You guys are right. 100% right, actually. Likely won't happen during this bull cycle, but it will happen either with the next or the one after before we end this decade (2029). And/or it happens as a result of a likely global depression at the end of this decade.

Near the end of 2017; many discussions were similar. Many discussions and perspectives on Bitcoin's utility, including Ethereum, blockchain tech, etc. Most of it never came true. It was too early. But you know when it did?

Today. "Just 4 years later"; I think the average Joe investor could give you a rough overview of what blockchain is, the utilities that Bitcoin does factually provide now, and how Ethereum would essentially become the core skeleton mainframe for the blockchain tech, etc.

Now guess what? Every single thing these guys are saying WILL HAPPEN just like what was discussed in 2017.

If you want to be early on the next wave of blockchain and where it's headed and want to be sitting in coins that are (or will be eventually once it hits crypto winter) cheap AF coins so that you can stop reading about crypto millionaires and become one...

Then you need to spend 20 hours and read through this entire thread from the past year and identify the core people I am talking about. Note every single thing they say, they like, and what they are looking at, their theories, their gut feelings, etc.; skip any mentions of their short-term projections and listen to what they like mid-long term. There's many coins, tech, utility, etc. mentioned.. and I GUARANTEE YOU, IF YOU SIT IN SOME OF THESE MENTIONED BY THESE GUYS EITHER NOW (AND ONCE WE HIT WINTER) CAN AVERAGE DOWN AND HOLD FOR YEARS... YOU WILL EXPERIENCE EXTRAORDINARY GAINS.

Of course; saying is easy to say than do. People paper hand, lose faith, need to dig into the money, etc.

Many people forget there is a (not often talked about) execution side of trading/investing than just predicting what will happen in the future.

Not all my predictions were right; but my mid-long term predictions aren't too shabby at all. And I've given the success treasure map with all the answers on the test to many of my peers/friends/etc; and most failed the open book exam due to poor execution (scared, greed, forgetting the big picture, etc.).

Anyways; again, read through the past year, and study this thread. The treasure map is there for the next 4, 5, 8, 10 years. And if you fumble the ball; then you executed the investments poorly.
 
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GPM

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Yeah my bad I paid $6700aud which I worked out to take 100-130 days to pay itself off, looks like I don’t have 100 days to do that so yeah oops.

I knew I was late to the party but I didn’t realise the party was about to end.
The party is not ending, it is changing. Once ethereum goes away you can change what it mines.

I also think that you paid too much for that rig! Keep in mind electricity costs. Those system will use roughly 1250 watts of power. Payouts also change like crazy.

One month ago 1000mh/s in hashing paid like 1.5 eth a month. 2 weeks ago it was 1. A few days ago it was 2. Today it's like 0.9. depending on a lot of variables this always changes. By August this will be 0.5.
 

Mainstream7

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Although it looks like I'm inactive; I browse through most of the posts.

Whether right, wrong, etc. I can say with 110% the regulars (a core of 10-12) are some f*ckin' rockstars.

You guys are right. 100% right, actually. Likely won't happen during this bull cycle, but it will happen either with the next or the one after before we end this decade (2029). And/or it happens as a result of a likely global depression at the end of this decade.

Near the end of 2017; many discussions were similar. Many discussions and perspectives on Bitcoin's utility, including Ethereum, blockchain tech, etc. Most of it never came true. It was too early. But you know when it did?

Today. "Just 4 years later"; I think the average Joe investor could give you a rough overview of what blockchain is, the utilities that Bitcoin does factually provide now, and how Ethereum would essentially become the core skeleton mainframe for the blockchain tech, etc.

Now guess what? Every single thing these guys are saying WILL HAPPEN just like what was discussed in 2017.

If you want to be early on the next wave of blockchain and where it's headed and want to be sitting in coins that are (or will be eventually once it hits crypto winter) cheap AF coins so that you can stop reading about crypto millionaires and become one...

Then you need to spend 20 hours and read through this entire thread from the past year and identify the core people I am talking about. Note every single thing they say, they like, and what they are looking at, their theories, their gut feelings, etc.; skip any mentions of their short-term projections and listen to what they like mid-long term. There's many coins, tech, utility, etc. mentioned.. and I GUARANTEE YOU, IF YOU SIT IN SOME OF THESE MENTIONED BY THESE GUYS EITHER NOW (AND ONCE WE HIT WINTER) CAN AVERAGE DOWN AND HOLD FOR YEARS... YOU WILL EXPERIENCE EXTRAORDINARY GAINS.

Of course; saying is easy to say than do. People paper hand, lose faith, need to dig into the money, etc.

Many people forget there is a (not often talked about) execution side of trading/investing than just predicting what will happen in the future.

Not all my predictions were right; but my mid-long term predictions aren't too shabby at all. And I've given the success treasure map with all the answers on the test to many of my peers/friends/etc; and most failed the open book exam due to poor execution (scared, greed, forgetting the big picture, etc.).

Anyways; again, read through the past year, and study this thread. The treasure map is there for the next 4, 5, 8, 10 years. And if you fumble the ball; then you executed the investments poorly.

Like YFI? *wink*
(NEO 2017 *wink*)

Many people don't realize that mainstream people coming in is not a top signal.
It's the next layer of people coming into the space. They are us in May 2017.
We are cycling from early adopters to early majority.
2013 - Early innovators
2017 - Early adopters
2021 - Early majority
2025 - Late majority
 

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Frinys

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The party is not ending, it is changing. Once ethereum goes away you can change what it mines.

I also think that you paid too much for that rig! Keep in mind electricity costs. Those system will use roughly 1250 watts of power. Payouts also change like crazy.

One month ago 1000mh/s in hashing paid like 1.5 eth a month. 2 weeks ago it was 1. A few days ago it was 2. Today it's like 0.9. depending on a lot of variables this always changes. By August this will be 0.5.
It's unclear whether it's changing or ending. Everyone who mines Ethereum today will have to switch to other blockchains. We have two possibilities:

1. The value of these blockchains will increase. The blockchain networks will be securer since there are more miners. And a more secure network should, in theory, be worth more than a less secure one. But that holds true only in a rational market.

2. The miner's margin will lower drastically. If so, hobby-miners, who are the ones with the current lowest margin return, may end up mining at a loss with no way of making a profit.

The best case for everyone is possibility number 1, but I doubt that this will happen because it requires that the market is rational. And right now, it is not. I see the second possibility as the most likely one, where we enter a new age of mining where you have to be a professional miner to make a profit. It's where we are going to end up no matter what, but the question is if it's with Eth 2.0 or later.

Stage 1 of Eth 2.0 is still somewhat far away, so there is no reason for panic right now. But every hobby-miner should reflect upon this, especially if they consider modifying or upgrading their rig.
 

GPM

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100% hobby miners are going to lose their shirts over this. Guys spending 2x MSRP prices for graphics cards are going to get slaughtered. I want to swoop in and buy their hardware at firesale prices.

Many coins are at 70% profitability when compared to ethereum. Why would that change because ethereum goes away?

I'm considering a massive coin price haircut, and a reduced payout volume when compared to ethereum, but I am not expecting this to just go away.

In 2019 I was barely mining more than what my electricity would have been, but I was not selling at the time so it did not matter. The same goes for the next winter. If all my hardware is paid off and I owe nothing, all I need to do is pay my electricity bill, stack those coins, and start selling when prices come back up.

Anyone with big loans on cards are going to be hammered big time.
 

Antifragile

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Kaboom !
Anyone else thinking Tezos could be that “alt”?
 

GPM

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Elon is just trolling the market to make obscene amounts of money. He can swing any market he wants in any direction from a text from his phone. Dude can make a hundred million dollars by trolling from his phone while taking a dump.
 

Timmy C

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Elon is just trolling the market to make obscene amounts of money. He can swing any market he wants in any direction from a text from his phone. Dude can make a hundred million dollars by trolling from his phone while taking a dump.
Well he doesn't make money selling cars. Manipulating the crypto market is the way to go for him.
 
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GPM

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Well I have gone and done it. I just built a Chia mining rig.

AMD 5800x processor, 32 gigs of ram. Should be good for 7 plots in parallel. I am limited by storage space for now.

It's set to run 3 plots in parallel, temp files on a 1tb nvme firecuda, moving to a 8tb NAS. If this works over the next few days I will either get another 1 or 2tb firecuda nvme, and another 8tb NAS drive. That will allow for a total of 6 or 7 Parallel plots depending on if I get the 1 or 2tb nvme.

After this I'll need to figure out the best storage system. The motherboard I am using has 8 SATA slots, so that's a good bit of storage if I can figure out how to make them auto-pick a new HDD when the old one is full.
 

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Ing

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Well I have gone and done it. I just built a Chia mining rig.

AMD 5800x processor, 32 gigs of ram. Should be good for 7 plots in parallel. I am limited by storage space for now.

It's set to run 3 plots in parallel, temp files on a 1tb nvme firecuda, moving to a 8tb NAS. If this works over the next few days I will either get another 1 or 2tb firecuda nvme, and another 8tb NAS drive. That will allow for a total of 6 or 7 Parallel plots depending on if I get the 1 or 2tb nvme.

After this I'll need to figure out the best storage system. The motherboard I am using has 8 SATA slots, so that's a good bit of storage if I can figure out how to make them auto-pick a new HDD when the old one is full.
Lets hope, the net won’t rise more than 10% per week, else we ll suck.
 

Mainstream7

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I forgot that we are allowed to do predictions here.

Mine:
BTC hit around 120k in Mid-June.
YFI will hit 1m in Mid-June.

Followed by a 70%+ correction in alts(including YFI, while BTC consolidates on strength(two corrective waves in total). Alts bottom in beginning of August, and markup until beginning of September.
BTC hits 420k beginning September 21.
YFI hits 4,2m beginning September 21.

End of normal cycle markup.
I consider it the normal cycle top.

BTS dips back to around 120k until End of December 21. Alts lose 85-95% in value.

End of the first half of the Super cycle.
Second half of super cycle starts.

BTC bottoms in December 21 and gains back dominance. The second half of the supercycle sees BTC hit 800k+ in 2025.
Weak alts will continue to lose value or strong alts go into consolidation after December 21 as BTC gains back it's dominance.
 
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Mainstream7

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In May 2017, techies and entrepreneurs(early adopters) came in when ETH just did their first 10x after a long-lasting consolidation.
In May 2021, average joes(early majority) start to buy DOGE after it did their next 10x.

The Late June crash is the first one to melt faces. Average joes will ask themselves what is happening.
First they are happy to make money. Then they get the first taste of a major dip.

I can still feel how it was like in June 17. It's emotionally draining.

The September top will have the first glimpses of late majority giving up and buying in into new highs and breakout of the late june top, buying into the narrative of a Q4 run.

Both early majority and a few of the late majority will lose 90% of their capital if they hold into December 21.
 

EvanOkanagan

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I forgot that we are allowed to do predictions here.

Mine:
BTC hit around 120k in Mid-June.
YFI will hit 1m in Mid-June.

Followed by a 70%+ correction in alts(including YFI, while BTC consolidates on strength(two corrective waves in total). Alts bottom in beginning of August, and markup until beginning of September.
BTC hits 420k beginning September 21.
YFI hits 4,2m beginning September 21.

End of normal cycle markup.
I consider it the normal cycle top.

BTS dips back to around 120k until End of December 21. Alts lose 85-95% in value.

End of the first half of the Super cycle.
Second half of super cycle starts.

BTC bottoms in December 21 and gains back dominance. The second half of the supercycle sees BTC hit 800k+ in 2025.
Weak alts will continue to lose value or strong alts go into consolidation after December 21 as BTC gains back it's dominance.

Buy BTC now and get a 1000%+ ROI in 4 months. I'll take this prediction if we can make it happen pls.
 

Antifragile

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I love the specifics of predictions by @Mainstream7! Haha.

Disclosure to new readers: if you are taking investment advice from a random person on a public forum, consult your doctor.
 

GPM

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Yup, make sure you get your doctor to prescribe you whatever the latest trend is that the pharmaceutical rep sold them at their last visit.

Get your pills folks!!

Crypto is dropping hard! I figure this is either a great sign as those who are serious will get more, and it will get media attention which will drive adoption towards the rocketship (before the real crash/correction). Or!!! This is it and I missed selling and my mining operations are about to take a massive hit and I missed my chance to pay off the latest acquisitions with good ethereum prices

Google search trends, twitter and social media mania, and that CBBI market top prediction are all super low when compared to the last run in 2018. I am pretty sure this is just like the 30% pullback we had a few months ago when ethereum dumped under $1000 USD and I almost panicked
 

Sethamus

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100% hobby miners are going to lose their shirts over this. Guys spending 2x MSRP prices for graphics cards are going to get slaughtered. I want to swoop in and buy their hardware at firesale prices.

Many coins are at 70% profitability when compared to ethereum. Why would that change because ethereum goes away?

I'm considering a massive coin price haircut, and a reduced payout volume when compared to ethereum, but I am not expecting this to just go away.

In 2019 I was barely mining more than what my electricity would have been, but I was not selling at the time so it did not matter. The same goes for the next winter. If all my hardware is paid off and I owe nothing, all I need to do is pay my electricity bill, stack those coins, and start selling when prices come back up.

Anyone with big loans on cards are going to be hammered big time.
Would you consider starting a mining thread in the speedway channel so those of us interested and often contributors to the forum(speedway) could talk and learn more?
 

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