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Anyone using crypto curency?

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Old 04-27-2018, 11:41 PM
  #11  
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Well I'm convinced, Nick et al my spare £500 is going under the mattress, well premium bonds actually. I can see they are still oscillating but the degree isn't really worth having to keep a daily track on them.
Thanks everyone for your input!
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Old 05-01-2018, 10:04 AM
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I have been mining crypto currencies for the past 6 months using a computer and some GPU's i purchased. I think that the height of the prices i was making £55 a day for the outlay of £5 a day electric. I earned pretty much all of my investment £4k equipment investment within the first 3-4 months. Since then the market has dropped a fair bit but im still earning £14 a day. Its a nice bit of extra money at the end of the month if required. Also the heat was great for heating the garage during the winter. Now its warming up im exhausting the heat outside and things continue to run fine.

Me personally i think its far easier to earn money via crypto coins than it is via the stock market. When i started mining ethereum was $300. At its height it hit $1400 so there was definitely money to be made. Now im going to pay my electric bills and save for the next batch of GPU's.

I got a bittrex trading account before everything went mad and also an account allowing me to change crypto into pounds early on.

Mining for me was a no brainer

Free heat and i also had an asset worth money if i chose to bail out. If you brought currency you have the potential to lose it all where as with a mining rig you can jack it in and sell up. If i was to sell my rig at the moment it would probably give me £3k back and it wouldn't take long at all to sell at that price

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Old 05-02-2018, 08:16 AM
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What do you mine? I looked to set up a Litecoin rig but it was estimated about 90 years of full gpu cycles to mine one coin?

A friend is recommending the htmlcoin spin off POMA but that's because he's director of tech there. Sounds iffy to me.
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Old 05-02-2018, 11:32 AM
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I was mining anything that was profitable during the boom. I have reverted back to nicehash at the moment. It gets a bad rep but its giving me better earnings that any other method at the moment.

I also rented my rig out on miningrigrentals.com. I remember on one day i set my daily rental price at over $150 and people were still renting it. Loads of new investors spending money with no idea what they were doing.

I'm currently getting paid just in bitcoin which is very easy to trade with. Im not one of these hold for 10 years type people. If the price of a coin doubles then that is fine with me and i cash out, being too greedy is a sure fire way to lose money.

I brought all my 1070ti and 1050ti GPU's before the prices went mad. When i started you could return your investment on GPU's within 100 days. Now people are spending £600 on a card that will earn them less than a pound a day after electricity. It doesn't make sense to start a mining rig at the moment IMO.

I enjoy it because after my initial investment i can now trade my earnings worry free. If i was to start now with the same amount of investment then i would put money in vertcoin, ethereum and zencash but like i said if the price doubles thats fine with me but some people will keep chasing the profits.

Vertcoin was nearly $10 4 months ago and is now $2.50. If bitcoin shoots up it will drag all these other coins with it and you can easily double your money.
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Old 05-02-2018, 12:05 PM
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Did you loose anything when nicehash got done? I keep all of mine in paper wallets to be extra safe. I've sold everything now bar the xrp. Made a fair bit on htmlcoin as I bought in a 2 sats and jumped at 30. But then screwed up and bought into BAR (before they were skanked and went TBAR) but lost my secret key (drinking & trading is pure stupidity!) so now I can see the value on etherscan but can't touch it! Luckily it's basically worth FA!
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Old 05-04-2018, 08:41 AM
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I think i lost about £10 worth but at that point nicehash was quite a poor earner compared to mining one specific coin. I was mining at a place called mining pool hub which allowed you to exchange to loads of currencies so at the time that was my preferred method.

At the moment nicehash is giving me good earnings so i cant complain. I don't bother with wallets because you end up downloading endless bits of software. I just keep the coins on bittrex and if the holding was to start getting very large i would transfer it to a secure wallet. Every coin that bittrex allows you to trade has its own online wallet you can use. Not secure i know but alot easier.

I did seriously consider running a 10mm SWA cable down to the garage and going into mining in a big way but decided against it. I know a few guys who have invested £100k + on mining rigs and some of the facilities are a work of art. Very dodgy territory thou as at the moment regulation isn't an issue but they could soon clamp down if they wanted too.
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Old 05-04-2018, 01:02 PM
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Interesting stuff. To be honest I'm in for the final cycle this year and think I'll quit just before US IRS season when the market arseholes. Unless Santander start using xRapid...
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Old 08-10-2018, 12:01 AM
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I'm fairly heavily invested in crypto and do a fair bit of swing trading and play with a lot of charts and indicators. I've done ok but if you're an handy trader there's absolute fortunes to be made (and lost) even in the bear market we're in now.

Converted to being a Bitcoin maximilist but have a 40% holding in various Altcoins too, which are attempted short term way to beat bitcoin... they have been hammered lately so that's not working out too well!

Long term i'm massively bullish and can see Bitcoin doing some crazy numbers soon. Near term I think we're likely to see a prolonged bear arket.

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Old 08-11-2018, 05:36 AM
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Certainly barren times at the moment. Im still mining various coins but the returns cover electricity and maybe another 25% on top. I wouldn't recommend getting into mining the coins that for sure. I have a few quid in Zcash and loads and loads of vertcoin which i have been buying at the low low price its at at the moment. It went on a run the other week and shot up 100% in a day so there is money to be made if you buy and sell at the right times. I think hopefully by christmas all the currencies will go on abit of a run again. If i make a few quid if and when that happens then maybe i will stay in it for a while longer
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Old 08-11-2018, 12:17 PM
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Originally Posted by MB View Post
I'm fairly heavily invested in crypto and do a fair bit of swing trading and play with a lot of charts and indicators. I've done ok but if you're an handy trader there's absolute fortunes to be made (and lost) even in the bull market we're in now.

Converted to being a Bitcoin maximilist but have a 40% holding in various Altcoins too, which are attempted short term way to beat bitcoin... they have been hammered lately so that's not working out too well!

Long term i'm massively bullish and can see Bitcoin doing some crazy numbers soon. Near term I think we're likely to see a prolonged bear arket.
What this man says...

LSK “cough cough”.... give it 18 months

binance and bittrex for shits and giggles... all about earning more BTC and trading on sat values.

Just wish I’d been more wise with my TAX allowance

Last edited by E4RTH WORM JIM; 08-11-2018 at 09:49 PM.
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