Author Topic: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion  (Read 27531 times)

Tonyahu

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OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion

Hey MMers,

This thread is not to discuss if crypto-currencies are good, bad, high risk, low risk...etc but simply to post your current/future holdings. This should start a positive discussion that will leave us all smarter and more wealthy. Please do not post here with negative generalized and non-factual based statements or opinions.

Core positions:

- Ethereum
https://www.youtube.com/watch?v=0UBk1e5qnr4&feature=youtu.be
- Monero
- OMG
- IOTA
- Litecoin
- Factom
- Lisk
- Ardor
- ARK
- NEO
- QTUM


I am a firm believer in Ethereum and Monero long term.  I look forward to hearing from you all.

Cheers,

Anthony
« Last Edit: September 08, 2017, 11:22:57 AM by Tonyahu »

L.A.S.

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Re: OFFICIAL: Crypto-Currency Portfolios and Discussion
« Reply #1 on: June 23, 2017, 01:33:21 PM »
I don't believe in crypto-currencies.  I don't think they are real.

Current holdings: 0
« Last Edit: June 23, 2017, 01:35:39 PM by L.A.S. »

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #2 on: June 23, 2017, 01:36:08 PM »
Ether was briefly at 10 cents today during a flash crash.
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Tonyahu

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #3 on: June 23, 2017, 01:40:03 PM »
Ether was briefly at 10 cents today during a flash crash.

That is false. Ether has not dipped under ~$320 on any exchanges today.

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ketchup

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #5 on: June 23, 2017, 01:48:36 PM »
0.05303289 BTC.  About $143 at present exchange rates.  Currently generating about 0.0053 BTC/day.

I'm mining using NiceHash across three GTX 1070s (one of them only part-time) I bought just before the recent surge in demand/out-of-stock-ness/price-gouging.

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #6 on: June 23, 2017, 01:58:13 PM »
0.05303289 BTC.  About $143 at present exchange rates.  Currently generating about 0.0053 BTC/day.

I'm mining using NiceHash across three GTX 1070s (one of them only part-time) I bought just before the recent surge in demand/out-of-stock-ness/price-gouging.

Very cool! Have you considered mining other coins? Bitcoin miining is very competitive but there are other coins you may receive higher USD gains from (unless your plan is to hold the BTC after you get it, of course).

Ether was briefly at 10 cents today during a flash crash.

That is false. Ether has not dipped under ~$320 on any exchanges today.

Bloomberg is reporting that it did: https://www.bloomberg.com/view/articles/2017-06-23/buffett-deals-and-blockchain-crashes?utm_source=yahoo&utm_medium=bd&utm_campaign=headline&cmpId=yhoo.headline&yptr=yahoo

YESTERDAY - There was market manipulation on one exchange  which caused a quick crash and recovery within seconds, technically yes it touched the price for a split second. The price quickly recovered.

 It's unfortunate. I personally lost my trading stack ($15,000) but had friends lose much more (over $200,000 for one friend). It's unfortunate and there will surely be lawsuits due to gross negligence of the exchange and a breach of their own Terms and Conditions and Terms of Service.

But, ETH price is stable across all platforms. This was a Black Swan due to market manipulation. It's horrible but part of the game as this is an entirely new world of trading.
« Last Edit: June 23, 2017, 02:02:01 PM by Tonyahu »

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #7 on: June 23, 2017, 02:07:35 PM »
0.05303289 BTC.  About $143 at present exchange rates.  Currently generating about 0.0053 BTC/day.

I'm mining using NiceHash across three GTX 1070s (one of them only part-time) I bought just before the recent surge in demand/out-of-stock-ness/price-gouging.

Very cool! Have you considered mining other coins? Bitcoin miining is very competitive but there are other coins you may receive higher USD gains from (unless your plan is to hold the BTC after you get it, of course).
NiceHash automatically mines whatever is most profitable given present market conditions and efficiency of your hardware with different hashing algorithms.  It's been mostly having me mine ETH and Zcash.  It pays out in BTC once a week.

I consider it a speculative investment of about $1200 (three cards plopped into two existing PCs).  I hope to at least make my money back before mining is unprofitable on the hardware.  Worst case, I end up selling two, and it'll just mean I bought my girlfriend a fancy graphics card for her PC at a discount.

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #8 on: June 23, 2017, 02:17:57 PM »

YESTERDAY - There was market manipulation on one exchange  which caused a quick crash and recovery within seconds, technically yes it touched the price for a split second. The price quickly recovered.

 It's unfortunate. I personally lost my trading stack ($15,000) but had friends lose much more (over $200,000 for one friend). It's unfortunate and there will surely be lawsuits due to gross negligence of the exchange and a breach of their own Terms and Conditions and Terms of Service.

But, ETH price is stable across all platforms. This was a Black Swan due to market manipulation. It's horrible but part of the game as this is an entirely new world of trading.

I'm so confused here.  You lost $15k yesterday, but it's just unfortunate?
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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #9 on: June 23, 2017, 02:45:11 PM »
0.05303289 BTC.  About $143 at present exchange rates.  Currently generating about 0.0053 BTC/day.

I'm mining using NiceHash across three GTX 1070s (one of them only part-time) I bought just before the recent surge in demand/out-of-stock-ness/price-gouging.

Very cool! Have you considered mining other coins? Bitcoin miining is very competitive but there are other coins you may receive higher USD gains from (unless your plan is to hold the BTC after you get it, of course).

Ether was briefly at 10 cents today during a flash crash.

That is false. Ether has not dipped under ~$320 on any exchanges today.

Bloomberg is reporting that it did: https://www.bloomberg.com/view/articles/2017-06-23/buffett-deals-and-blockchain-crashes?utm_source=yahoo&utm_medium=bd&utm_campaign=headline&cmpId=yhoo.headline&yptr=yahoo

YESTERDAY - There was market manipulation on one exchange  which caused a quick crash and recovery within seconds, technically yes it touched the price for a split second. The price quickly recovered.

 It's unfortunate. I personally lost my trading stack ($15,000) but had friends lose much more (over $200,000 for one friend). It's unfortunate and there will surely be lawsuits due to gross negligence of the exchange and a breach of their own Terms and Conditions and Terms of Service.

But, ETH price is stable across all platforms. This was a Black Swan due to market manipulation. It's horrible but part of the game as this is an entirely new world of trading.

Huh? $15K (or $200K) of alleged value of cryptocurrency gone?  Sorta makes one wonder...

Who is going to be sued and where and by whom and what sort of recovery would be sought?

Since these currencies are not a real thing and the account values are not backed by, or legal tender according to, any country's government, I suspect that if a suit were somehow brought against a responsible party the court would consider these cryptocurrency regimes to be essentially Ponzi schemes.  Basically a system where new money is used to pay prior "investors" when the cash out.  I mean, not everyone could sell at once and get the cash market value of their cryptocurrency in actual cash right? In such situations, recovery --  if any is granted at all -- is usually limited to the actual amount of cash that one brought in and not to the amount of any paper (imaginary) gains that may have been reported to the dupe in the interim.

With any sort of investment scheme its always important to remember that the cash is gone at the point when one buys -- the investment or asset can be sold for cash again but to the extent there is a market. 

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #10 on: June 23, 2017, 03:00:47 PM »
0.05303289 BTC.  About $143 at present exchange rates.  Currently generating about 0.0053 BTC/day.

I'm mining using NiceHash across three GTX 1070s (one of them only part-time) I bought just before the recent surge in demand/out-of-stock-ness/price-gouging.

Very cool! Have you considered mining other coins? Bitcoin miining is very competitive but there are other coins you may receive higher USD gains from (unless your plan is to hold the BTC after you get it, of course).

Ether was briefly at 10 cents today during a flash crash.

That is false. Ether has not dipped under ~$320 on any exchanges today.

Bloomberg is reporting that it did: https://www.bloomberg.com/view/articles/2017-06-23/buffett-deals-and-blockchain-crashes?utm_source=yahoo&utm_medium=bd&utm_campaign=headline&cmpId=yhoo.headline&yptr=yahoo

YESTERDAY - There was market manipulation on one exchange  which caused a quick crash and recovery within seconds, technically yes it touched the price for a split second. The price quickly recovered.

 It's unfortunate. I personally lost my trading stack ($15,000) but had friends lose much more (over $200,000 for one friend). It's unfortunate and there will surely be lawsuits due to gross negligence of the exchange and a breach of their own Terms and Conditions and Terms of Service.

But, ETH price is stable across all platforms. This was a Black Swan due to market manipulation. It's horrible but part of the game as this is an entirely new world of trading.

Huh? $15K (or $200K) of alleged value of cryptocurrency gone?  Sorta makes one wonder...

Who is going to be sued and where and by whom and what sort of recovery would be sought?

Since these currencies are not a real thing and the account values are not backed by, or legal tender according to, any country's government, I suspect that if a suit were somehow brought against a responsible party the court would consider these cryptocurrency regimes to be essentially Ponzi schemes.  Basically a system where new money is used to pay prior "investors" when the cash out.  I mean, not everyone could sell at once and get the cash market value of their cryptocurrency in actual cash right? In such situations, recovery --  if any is granted at all -- is usually limited to the actual amount of cash that one brought in and not to the amount of any paper (imaginary) gains that may have been reported to the dupe in the interim.

With any sort of investment scheme its always important to remember that the cash is gone at the point when one buys -- the investment or asset can be sold for cash again but to the extent there is a market.

These currencies are a "real" thing, you are misinformed on how block chain and block chain assets function. But yes, they are not FIAT currency if that is your comparison.

Furthermore, I lost 15K, a friend lost 200K and many people lost millions yesterday. There will be a massive lawsuit due to gross negligence of the exchange.



YESTERDAY - There was market manipulation on one exchange  which caused a quick crash and recovery within seconds, technically yes it touched the price for a split second. The price quickly recovered.

 It's unfortunate. I personally lost my trading stack ($15,000) but had friends lose much more (over $200,000 for one friend). It's unfortunate and there will surely be lawsuits due to gross negligence of the exchange and a breach of their own Terms and Conditions and Terms of Service.

But, ETH price is stable across all platforms. This was a Black Swan due to market manipulation. It's horrible but part of the game as this is an entirely new world of trading.

I'm so confused here.  You lost $15k yesterday, but it's just unfortunate?

Yes sir, very unfortunate. Given that the lost ETH is currently $15k in value, it will most likely be worth around $100,000 in a year or two.

Oh well, live and learn!
« Last Edit: June 23, 2017, 03:04:56 PM by Tonyahu »

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #11 on: June 23, 2017, 04:41:18 PM »
Tonyahu, sorry about your 15k.  If you don't mind my asking, does that leave you in a net gain or net loss position for your cumulative investments in crypto-currency?

I don't have any, so just curious.  Best of luck!

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #12 on: June 23, 2017, 04:57:43 PM »
Yes sir, very unfortunate. Given that the lost ETH is currently $15k in value, it will most likely be worth around $100,000 in a year or two.

Oh well, live and learn!

If the price only crashed for a second or two why did you lose any money at all? If you started with $15K worth of that crypto currency and it went to $1 for a second then the price recovered you would still have $15K worth of it.

What did you learn?

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #13 on: June 23, 2017, 05:15:20 PM »
0.05303289 BTC.  About $143 at present exchange rates.  Currently generating about 0.0053 BTC/day.

I'm mining using NiceHash across three GTX 1070s (one of them only part-time) I bought just before the recent surge in demand/out-of-stock-ness/price-gouging.

Is this worth doing if I don't have fancy graphics cards? What are good resources for a noob to learn about mining?

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #14 on: June 23, 2017, 05:26:19 PM »
I'd rather invest in something more stable and reliable than cryptocurrency. Like beanie babies.

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #15 on: June 23, 2017, 05:36:08 PM »
Geez... look I hold BTC and ETH and I have to tell you... all ETH guys do is pump, pump, pump.

All investments have risk, and all of the crypto space is immature from a technological standpoint. It does hold a tremendous amount of potential for solving many of the world's problems related to finance and property ownership. But investing in it is ONLY for people who have a strong stomach and a willingness to ride it out for a long period of time.

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #16 on: June 23, 2017, 06:49:40 PM »
Good thing I didn't buy in yet, I'd hate to have been wiped out right after I started. This is obviously an investment opportunity where one has to anticipate losing all and being called a fool - that's OK, I don't plan to put my life savings into it.

I am interested in Ethereum, mainly because from what I've read so far it has a lot more potential than bitcoin, which seems to be a one trick pony. Not that I really know what I am talking about - but I am setting aside a little fun money for crazy investments that I feel have potential. For me it falls under the category of risky investments, but hey, nothing ventured - nothing gained.

So where and how is the best place to begin?

Geez... look I hold BTC and ETH and I have to tell you... all ETH guys do is pump, pump, pump.

All investments have risk, and all of the crypto space is immature from a technological standpoint. It does hold a tremendous amount of potential for solving many of the world's problems related to finance and property ownership. But investing in it is ONLY for people who have a strong stomach and a willingness to ride it out for a long period of time.

So Honest Abe, what do you mean by pump?



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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #17 on: June 23, 2017, 11:39:51 PM »
I don't buy cryptocurrency other than to facilitate online purchases.

However, I am very interested in mining Ethereum and ZCash if there are every any RX-470s for sale again.

It seems like diversification to me?

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #18 on: June 23, 2017, 11:47:38 PM »
Following.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #19 on: June 24, 2017, 01:24:26 AM »
Yes sir, very unfortunate. Given that the lost ETH is currently $15k in value, it will most likely be worth around $100,000 in a year or two.

Oh well, live and learn!

Would you care to share how exactly you lost $15K in ETH?  Did someone hack your account and stole them.  Isn't the whole point of blockchain so that people cant modify the chain and steal your money?  They would have to hack all the nodes to modify the transactions on who owns the currency right?


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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #20 on: June 24, 2017, 01:27:58 AM »
He apparently had coins kept at that particular exchange with a stop loss order in that filled during the flash crash.

We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #21 on: June 24, 2017, 07:44:07 AM »
I don't believe in crypto-currencies.  I don't think they are real.

just like the money in your bank account - roughly 8% of all money is physical, the rest 1's & 0's which "aren't real".

I'd rather invest in something more stable and reliable than cryptocurrency. Like beanie babies.

if you actually knew anything about them, you'd realize that most of them are very stable... it's apparent you're only aware of bitcoin, which is ironically the most antiquated token.

It's unfortunate and there will surely be lawsuits due to gross negligence of the exchange and a breach of their own Terms and Conditions and Terms of Service.

sorry for your loss. i highly doubt there will be a lawsuit as the GDAX crashed because someone dumped 100,000 ETH. those who lost anything either had stop losses or were trading on margin. were you?
« Last Edit: July 05, 2017, 02:32:43 PM by gp_ »

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #22 on: June 24, 2017, 12:12:47 PM »
I'd been debating whether or not it made sense to start a thread about my experiment with crypto currency, but since I came back to the forum to discover there's already going on, here's my first update on my less than three week old old experiment with both mining (ZEC) and currency appreciation (BTC + a little ZEC). The numbers will seem quite low compared to folks like Tonyahu, but patterns should hopefully be representative.

Currently running 4 GTX 1060s (purchased for the experiment) and 1 GTX 970 (in the computer I use for VR). Have a 5th 1060 out of commission at the moment, potentially this is just an issue with a bad riser. 1060s are a bit slower than the cards a lot of folks run, but due the demand driving up the cost of 1070 on up, when I pulled the trigger these had the shortest payback time. Currently mining ZEC and getting paid in BTC through NiceHash but I've also experimented with mining ZEC directly through flypool.

I wanted to separate out the idea of "mining crypto currency for profit" from the idea of "owning crypto currency for price appreciation" in my records. "Mining income" assumes I sell everything for dollars at the prevailing price on the day it was earned. "Capital Gains/Losses" tracks the difference between mining income and the actual net worth of the cryptocurrency.  I jumpstarted the currency appreciation half of my experiment with ~0.44 bitcoins I found leftover on an old computer. Since if I wasn't doing the experiment I would have cashed that out, I reset my starting value on those coins to the price they would have received on the day I started the experiment.

My sunk costs would be lower if I built a second machine (by $200, or $400 if I subtract out what I spent on the last 1060 that may still come online at some point), but the only way I could have gotten to the point of knowing how to build the second machine was to build the first one. Currently 3 weeks in. Averaging about $13.50/day in mining income and $4.30/day in capital gains. If I can keep that up I'm 58 days from my break even point overall and 84 days away from my break even point considering only income from mining.

The rate at which the difficulty for ZEC mining is increasing has me a little concerned about the likelihood of success for my little experiment. From the start of my experiment to today, difficulty has increased from ~2M to ~3.5M. So far the price of ZEC has increased roughly proportionately ($240/ZEC->$360/ZEC, so I'm not seeing a big decline in my average daily mining take but it looks like the price may be starting to level off.



Anyway, lots of things could go wrong, but it continues to be a fun experiment, the rack I built could easily scale to 24 total graphics cards if I ever decide to put real money into this, and worse case scenario, I've got everything I've spent so far down in my monthly accounts as entertainment/hobby spending, not investment.
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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #23 on: June 24, 2017, 01:12:14 PM »
Following. Spouse mines Eth & has a small amount of BTC from years ago.

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #24 on: June 24, 2017, 06:05:56 PM »
The unfortunate: I started mining BTC back in 2012/2013  and also bought a few coins for fun when the value was under $20 USD but quickly gave up and sold because it seemed pointless and there was little immediate value to doing so. If I would have left my PC chugging along back then I would have thousands/hundreds of thousands $$ at this point.

Now: My rent includes flat rate utilities, so I have been taking advantage of that to mine BTC with a gaming PC I built 2 years ago. Seems like a good chance to make a small/albeit risk-free (no additional cost to me) investment in an otherwise risky investment.

Currently amassed only .03 BTC, mining at about .0013 BTC per day (somewhere around $100 per month at current exchange rate). Holding anything I mine long term and hoping that someday I randomly log in to find a massive increase in the value.


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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #25 on: June 24, 2017, 06:27:58 PM »
i hold BTC and ETH.  i've been holding BTC for years and plan to continue to hold both as an asset not correlated to stocks/bonds.

my concern with ETH, wrt holding, is that it does not have its long-term issuance policy defined.  BTC is more "K.I.S.S." or "tried and true" and has been following a simple issuance schedule.  i know exactly how many bitcoin will have been created 10 years from now.  with ETH, 10 years from now, what will be happening with proof-of-stake?  and will that actually work in practice?  BTC doesn't have these questions.

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #26 on: June 24, 2017, 08:56:33 PM »
BTC doesn't have these questions.

BTC has 3 mining pools controlling 51%+ of the hash. the largest pool (antpool) is controlled by bitmain which jihan wu started. jihan wu runs patented hardware (asicboost) which is incompatible with segwit, which is why the blockchain is stuck at 1MB and why he and people like roger ver were pushing for a secondary blockchain. segwit will supposedly activate with an expanded (to 2MB blocks), but it's such a fucking mess... trust me that for the people who are heavy into mining / investing, there are more questions than answers.
« Last Edit: June 24, 2017, 09:06:52 PM by gp_ »

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #27 on: June 24, 2017, 09:07:33 PM »
MOD NOTE: About a dozen posts removed discussing whether or not crypto-currency counts as an "investment" or "speculation."

This thread is not for discussing semantics of what makes an investment, or if crypto-currencies count.

If you want to start a new thread to argue about this, feel free to do so, or look up one of the other crypto-currency threads that already has this same back and forth.  Please not derail this thread with this argument yet again.

Cheers!
« Last Edit: June 24, 2017, 09:12:15 PM by arebelspy »
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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #28 on: June 24, 2017, 09:44:41 PM »
The unfortunate: I started mining BTC back in 2012/2013  and also bought a few coins for fun when the value was under $20 USD but quickly gave up and sold because it seemed pointless and there was little immediate value to doing so. If I would have left my PC chugging along back then I would have thousands/hundreds of thousands $$ at this point.

You sound like me. Back right around that time I experimented with CPU mining with a few cores I wasn't using on my work computer. Even at that point, CPU mining was considered not worthwhile, but I wasn't paying for the electricity and it was more of a way to educate myself than actually make money. After several weeks of this I had accumulated approximately 1 BTC and a few altcoins. Given the valuations at the time I was earning only about a dollar or two per week from it, and I had gotten all the educational value I wanted out of it, so I stopped mining because the money wasn't worthwhile. But looking back on it, getting a good fraction of a BTC per month on top of my regular salary would be nothing to sneeze at!

Since then I've occasionally used BTC to pay for online software bundles and the like (trading bits for bits, as it were), but haven't done any trading on exchanges. I still have about 1 BTC and a few thousand XRP from when they did a grid computing promotion a while back. I think I'm going to hold it a while and see where it goes. I have no immediate need to liquidate, but will be happy to do so if the value doubles a few more times.
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PDXTabs

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #29 on: June 24, 2017, 09:59:37 PM »
arebelspy,

Perhaps I should have been more specific. There is a big difference between mining cryptocurrency and purchasing cryptocurrency, at least as far as investing. Of note, in the US, you are taxed on the cryptocurrency the day that you mine it at the ordinary income rate (https://bitcoin.tax/blog/filing-your-bitcoin-taxes-income-spending-mining/). This also means that if there is a big crash before you sell, you still get to pay tax!

There is also a big difference between PoW (Proof of Work) based cryptocurrencies (which, at this point is all of them?) and PoS (Proof of Share) based cryptocurrencies (Ethereum wants to move to a PoS model). No one knows what PoS will mean for Ethereum, no one has ever done it before. Ethereum has already had one hard fork, when they move to PoS they risk another. These things matter for investors.

More reading / watching:
https://motherboard.vice.com/en_us/article/an-idiots-guide-to-building-an-ethereum-mining-rig
https://www.cryptocompare.com/mining/mineshop/ethereum-mining-rig-168mhs/
https://www.youtube.com/watch?v=OfE_QidD75M

CanuckExpat

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #30 on: June 24, 2017, 10:10:30 PM »
I'm following with curiosity, and to remind myself to learn more.

I'm interested in the blockchain technology and it's application. Have a very small (hundreds of USD) holding of BTC at the moment, for no particularly good reasons except curiosity, "skin in the game" to give myself incentive to  learn more  (and speculation) :) I may add a bit of ETH, .

I haven't been mining, but made my small purchases with Coinbase. I think I'm gonna play at it with combining with other hobby and eat the large fees to empty out some credit card gift cards I have lying around. The volatility is enough, that it sort of "absorbs" the fees (all of this is with no good reason).
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aspiringnomad

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #31 on: June 24, 2017, 10:27:53 PM »
Own about $4k USD worth of ETH that I initially purchased for much less. I've been aware of and/or following distributed ledger technology from early days thanks to my dad being a comp sci professor who took interest and a couple friends being big BTC promoters. They've obviously done well, but I was always reticent to buy in since I've had serious doubts about BTC's use case and the restrictiveness of the underlying code. And I still have those doubts, so I'm pretty bearish on BTC as anything other than a store of value (whatever the hell that means, I still can't figure out gold either) or as a means of conducting illicit activity (and I want nothing to do with that). But I'm very bullish on applications that use distributed ledger tech to remove friction, so I'm optimistic about the use case for the Ethereum protocol. I've also perused some of the work put out by Ethereum's founder and think the hype surrounding him is legit. But to be honest, I'm neutral on ETH itself despite owning some since I have no idea how its protocol's usefulness will impact ether's selling price, especially in a world with new coins with various features launched seemingly every day.

arebelspy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #32 on: June 24, 2017, 10:55:33 PM »
Perhaps I should have been more specific. There is a big difference between mining cryptocurrency and purchasing cryptocurrency, at least as far as investing.

To clarify: Feel free to talk about these two things, and how they differ, and why you think they're important.  This post that I'm quoting, for example, was quite informative. There's just no need to quibble for pages about if one, or the other, or both, is, or is not, "investing" under various definitions of the word.  :)
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OneCoolCat

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #33 on: June 24, 2017, 11:12:16 PM »
I'm in the process of making a rig.  I spent $2,100 on 6x PNY GTX 1060 3gb GPU's (on sale at BestBuy) and everything else.  It should all be here around July 4 and I'm going to set it up.  I will probably mine ZEC.  I think its fun and I do hope to mine enough coins to break even on the rig and electricity.  Hopefully I can break even after 4 months.

I will join a pool to mine.  I'm considering Claymore (if I can mine two coins at once with my GPU).  Nicehash seems interesting too but I'm not sure if I want to be paid in BTC. 

Is nicehash a pool?  What do they charge?
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starguru

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #34 on: June 25, 2017, 07:37:17 AM »
How would one even go about buying ethereum coins (on a mac)?


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arebelspy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #35 on: June 25, 2017, 07:39:07 AM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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wienerdog

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #36 on: June 25, 2017, 07:48:16 AM »
Adding this video playlist as it is interesting for a newbie.

https://www.youtube.com/playlist?list=PLiFMZOlhgsYKKOUOVjQjESCXfR1cCYCod


tralfamadorian

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #37 on: June 25, 2017, 08:41:42 AM »
following

starguru

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #38 on: June 25, 2017, 09:09:00 AM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


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arebelspy

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #39 on: June 25, 2017, 09:17:36 AM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


Sent from my iPhone using Tapatalk

Note that my only other step was to move the coins to your own wallet. You should never keep coins at an exchange, because they can be, and are, hacked.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

starguru

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #40 on: June 25, 2017, 09:58:19 AM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


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starguru

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OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #41 on: June 25, 2017, 10:00:05 AM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


Sent from my iPhone using Tapatalk

Note that my only other step was to move the coins to your own wallet. You should never keep coins at an exchange, because they can be, and are, hacked.


I'll have to figure that part out.  Any opinions on the Gemini exchange?  Seems more regulated and doesn't appear to support lite coin.


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gp_

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #42 on: June 25, 2017, 10:32:22 AM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


Sent from my iPhone using Tapatalk

Note that my only other step was to move the coins to your own wallet. You should never keep coins at an exchange, because they can be, and are, hacked.


I'll have to figure that part out.  Any opinions on the Gemini exchange?  Seems more regulated and doesn't appear to support lite coin.


Sent from my iPhone using Tapatalk

check out bittrex.com

bittrex was (and still might be) the only exchange which was dedicated to being fully and legally compliant with the ever changing crypto landscape. they were one of the first to apply for new york's bit license.

andystkilda

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #43 on: June 25, 2017, 10:55:19 AM »
I want to learn more about the field but I am buying a small portion of ETH (probably in the low thousands or tens of thousands) for now as an initial investment.

aspiringnomad

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #44 on: June 25, 2017, 12:24:27 PM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


Sent from my iPhone using Tapatalk

Note that my only other step was to move the coins to your own wallet. You should never keep coins at an exchange, because they can be, and are, hacked.

I moved mine from Coinbase to Jaxx based on a friend's recommendation. But yeah, definitely get them off whatever exchange you use and into a wallet.

farfromfire

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #45 on: June 26, 2017, 06:56:57 AM »
Seeing how volatile crypto currencies are, and considering that exchanges will not stop trading no matter what, margin trading is pretty dumb.

I hold some eth for the long term.

Tonyahu

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #46 on: June 26, 2017, 11:08:47 AM »
Great discussions so far guys, I hope we can get many more to learn about this developing technology.

Tonyahu, sorry about your 15k.  If you don't mind my asking, does that leave you in a net gain or net loss position for your cumulative investments in crypto-currency?

I don't have any, so just curious.  Best of luck!

The exchange actually decided to credit those who lost due to it being blatant market manipulation. But if that had still been a loss, I am still up nearly 700%.

Geez... look I hold BTC and ETH and I have to tell you... all ETH guys do is pump, pump, pump.

All investments have risk, and all of the crypto space is immature from a technological standpoint. It does hold a tremendous amount of potential for solving many of the world's problems related to finance and property ownership. But investing in it is ONLY for people who have a strong stomach and a willingness to ride it out for a long period of time.

There is that "pump" aspect in most of the sub-communities. I am very long on ETH so short term I am not too concerned bout. Right now is a good time to get in due to the large dip due to that troublesome Bitcoin.


Good thing I didn't buy in yet, I'd hate to have been wiped out right after I started. This is obviously an investment opportunity where one has to anticipate losing all and being called a fool - that's OK, I don't plan to put my life savings into it.

I am interested in Ethereum, mainly because from what I've read so far it has a lot more potential than bitcoin, which seems to be a one trick pony. Not that I really know what I am talking about - but I am setting aside a little fun money for crazy investments that I feel have potential. For me it falls under the category of risky investments, but hey, nothing ventured - nothing gained.

So where and how is the best place to begin?

I would just keep reading up on Ethereum everywhere you can. I would look up "Ethereum Enterprise Alliance" as well, and look into what those big companies are doing with Ethereum.


JP Morgans "Quorum" is an interesting project.



Yes sir, very unfortunate. Given that the lost ETH is currently $15k in value, it will most likely be worth around $100,000 in a year or two.

Oh well, live and learn!

Would you care to share how exactly you lost $15K in ETH?  Did someone hack your account and stole them.  Isn't the whole point of blockchain so that people cant modify the chain and steal your money?  They would have to hack all the nodes to modify the transactions on who owns the currency right?

I had a margin long open and there was market manipulation causing a short term plummet to essentially $0. This caused me (and many others) to get our margins called (and some peoples stops to get blown up) and losees of millions of dollars. This is being remedied by the exchange though, I will not be eating the loss anymore. Thank God!

MOD NOTE: About a dozen posts removed discussing whether or not crypto-currency counts as an "investment" or "speculation."

This thread is not for discussing semantics of what makes an investment, or if crypto-currencies count.

If you want to start a new thread to argue about this, feel free to do so, or look up one of the other crypto-currency threads that already has this same back and forth.  Please not derail this thread with this argument yet again.

Cheers!



Thank you for your additions to this thread!


trollwithamustache

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #47 on: June 26, 2017, 11:39:47 AM »
I am a simple troll and will hold my two bit coins that I purchased about a year ago for the long haul.  No other crypto currencies for me.

I was mining using an S9 for a while but I figured hardware only does down in value and the recent surge let me sell the unit for a small profit.  When I was mining I estimated my breakeven to be 1200$/BTC so was holding all the BTC and hoping for a surge. I net made about 20% mining so after I sold that BTC and hardware.

I don't know if I was speculating, investing or running a business but I am satisfied with the outcome :)

effigy98

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #48 on: June 26, 2017, 03:49:09 PM »
I have about 20 cards mining ETH and doing XMR on CPUs. I cannot find any cards at reasonable prices in stock anymore (running 1050ti's, 1060, and 1070's) and have kind of given up expanding the farm until I find some more reasonable prices on GPUs. 1050ti's are the best priced cards now vs profit but they do not scale as well because of the other equipment you need to buy to support them.

effigy98

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Re: OFFICIAL: Blockchain / Crypto-Currency Portfolios and Discussion
« Reply #49 on: June 26, 2017, 03:53:45 PM »
How would one even go about buying ethereum coins (on a mac)?

Step 1 is google "how to buy etherium".
Probably setting up an account at coinbase is the easiest way.  Make sure to move them off to your own wallet after.
Is coinbase what everyone uses?  Is there a chance someone can run off with customers funds on that platform?


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I have a nano ledger wallet. Seems like the most secure option. They are on back-order so if you want one order now and get by September.