necro
Regular Member
- Dec 23, 2010
- 313
- 194
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Inb4 Bitcoin is not profitable
Inb4 Mining is not profitable
Inb4 Trading is not profitable
Inb4 I know my shit <-- you dont!
---
So i saw a lot of btc and crypto Threads... overwhelmed with Noobs like i was one when i was 14. Here are the FACT's and with that i mean real FACTS not random nonesense i read on stackexchange.
1. Mining
For the love of god. Srsly stop crying for mining BTC. Yes the difficulty is high af. Yes you wont earn as much, like when you had an asic mining period change.
But... And this is the biggest but. Mining Crypto is not dead yet. But before posting another BTC mining is dead comment. Please review this webpage.
https://www.coinwarz.com/miningprofitability/sha-256
This page is made for a single purpose. It's made so I can see how much buck i would get with my BITCOIN miners, if i woudlnt mine bitcoin.
Yes, the BTC is mining is dead is actually so old, they started building Webpages to show that there are alternatives and more profitable coins out ther.
1.1 Mining Gear
So... Graphicscards are dead... The time is over and im sorry to dissappoint all who still believe in GFX Cards.
If you have an Topnotch GFX dont waste it for mining, please for the love of god. Don't waste your preciouis GTX on that, it wasn't made to run 24/7.
Go buy an ASIC!!!
ASIC stands for Application Specific Interface Controller. Which translates into this Hardware has 1 single purpose and not more.
So if i need to buy an miner what is important to me?
First... Check what you are mining. Bitcoin is based on the SHA256 Encryption. The whole coin is based on it. So if you know your Asic can min SHA256, it also can mine bitcoin like coins.
It cant however min Litecoin, because this is built upon the SCRYPT Algorithm, which uses quite other Algorithms and such (you dont really care about that to much yet, only thing to know is a miner has a Function he can mine.
SHA256, SCRYPT, X11, CPU are the most known. Reference the web for others or coinwarz.
2. Trading
My favorite posts in the past days were these.
A)
It's better to invest than mine. Find some newly launched coin like BitcoinZ and invest in it 100-200$. Wait 2-3 years if you patient and there are 2 possible outcomes: you lose the money you don't even remember or you bank hard
A.1) While it's true that getting involved in pump and dump scheme can grant you great earnings. Some pump and dumps got from 1 Satoshi to 160 in some days.
However. You Invest and please note this to yourself Right now if you ever trade anything. You are the only person who is to blame if something goes wrong. Forgetting you had money is not an OPTION!
I CARE ABOUT THE MONEY I EARN AND I CARE ABOUT THE INVESTMENTS I MAKE.
Or you can just say no to ever being an millionaire.
B)
Any tips?
Feel like I wanna purchase them all.
B.1) WHAT EVER PAYS YOUR GOD DAMN BILL AND GET'S YOU CASH. Stop thinking about what makes a Coin great an such. You are trying to buy in as a consumer.
Investments are not to be emotionally attached to. That doesnt mean however that you can't get in touch with the community and appraciete a coin.
C)
I want to trade BTC but i make around 1% a day.
C.1) You are trading wrong. You are trying to trade Crypto as an Asset like Stocks... There are multiple Problems with that... Stocks aren't usually Highly volatile. Cryptos are.
The time Frame for holding a stock is usually around 3 Months. If you hold a crypto for 3 months after getting released to Exchanges, you might have just losed a great chance to make 100$ to 16'000$
Like said, trading is about getting money back from your investments and holding those investments for your benefit, nothing else.
Knowing such things and knowing that there are a shit load of different approaches to trade cryptos, going with an asset way might just be the most ineffecient, i traded with my own trading stragy manually and did 150% in 4 hours. If you can't make that much money you are trading wrong. Plain simple.
So where do we take it from here after all this.
Trading is an art, to perfect an art you have to know what you are trading & what you gain from doing so.
Bests,
Necro
Inb4 Bitcoin is not profitable
Inb4 Mining is not profitable
Inb4 Trading is not profitable
Inb4 I know my shit <-- you dont!
---
So i saw a lot of btc and crypto Threads... overwhelmed with Noobs like i was one when i was 14. Here are the FACT's and with that i mean real FACTS not random nonesense i read on stackexchange.
1. Mining
For the love of god. Srsly stop crying for mining BTC. Yes the difficulty is high af. Yes you wont earn as much, like when you had an asic mining period change.
But... And this is the biggest but. Mining Crypto is not dead yet. But before posting another BTC mining is dead comment. Please review this webpage.
https://www.coinwarz.com/miningprofitability/sha-256
This page is made for a single purpose. It's made so I can see how much buck i would get with my BITCOIN miners, if i woudlnt mine bitcoin.
Yes, the BTC is mining is dead is actually so old, they started building Webpages to show that there are alternatives and more profitable coins out ther.
1.1 Mining Gear
So... Graphicscards are dead... The time is over and im sorry to dissappoint all who still believe in GFX Cards.
If you have an Topnotch GFX dont waste it for mining, please for the love of god. Don't waste your preciouis GTX on that, it wasn't made to run 24/7.
Go buy an ASIC!!!
ASIC stands for Application Specific Interface Controller. Which translates into this Hardware has 1 single purpose and not more.
So if i need to buy an miner what is important to me?
First... Check what you are mining. Bitcoin is based on the SHA256 Encryption. The whole coin is based on it. So if you know your Asic can min SHA256, it also can mine bitcoin like coins.
It cant however min Litecoin, because this is built upon the SCRYPT Algorithm, which uses quite other Algorithms and such (you dont really care about that to much yet, only thing to know is a miner has a Function he can mine.
SHA256, SCRYPT, X11, CPU are the most known. Reference the web for others or coinwarz.
2. Trading
My favorite posts in the past days were these.
A)
It's better to invest than mine. Find some newly launched coin like BitcoinZ and invest in it 100-200$. Wait 2-3 years if you patient and there are 2 possible outcomes: you lose the money you don't even remember or you bank hard
A.1) While it's true that getting involved in pump and dump scheme can grant you great earnings. Some pump and dumps got from 1 Satoshi to 160 in some days.
However. You Invest and please note this to yourself Right now if you ever trade anything. You are the only person who is to blame if something goes wrong. Forgetting you had money is not an OPTION!
I CARE ABOUT THE MONEY I EARN AND I CARE ABOUT THE INVESTMENTS I MAKE.
Or you can just say no to ever being an millionaire.
B)
Any tips?
Feel like I wanna purchase them all.
B.1) WHAT EVER PAYS YOUR GOD DAMN BILL AND GET'S YOU CASH. Stop thinking about what makes a Coin great an such. You are trying to buy in as a consumer.
Investments are not to be emotionally attached to. That doesnt mean however that you can't get in touch with the community and appraciete a coin.
C)
I want to trade BTC but i make around 1% a day.
C.1) You are trading wrong. You are trying to trade Crypto as an Asset like Stocks... There are multiple Problems with that... Stocks aren't usually Highly volatile. Cryptos are.
The time Frame for holding a stock is usually around 3 Months. If you hold a crypto for 3 months after getting released to Exchanges, you might have just losed a great chance to make 100$ to 16'000$
Like said, trading is about getting money back from your investments and holding those investments for your benefit, nothing else.
Knowing such things and knowing that there are a shit load of different approaches to trade cryptos, going with an asset way might just be the most ineffecient, i traded with my own trading stragy manually and did 150% in 4 hours. If you can't make that much money you are trading wrong. Plain simple.
So where do we take it from here after all this.
Trading is an art, to perfect an art you have to know what you are trading & what you gain from doing so.
Bests,
Necro
