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37 minutes ago, s3riouscat said:

Such crash wow.聽馃ぃ

Here's the real reason聽China bans crypto from financial institutions

A sensible explanation. Apparently some still think there is no cause and effect in the crypto sphere and it just goes up and down on a whim.

Seriously though, they tanked 40% from all time high in a short time, which even for crypto is a lot. Whether it's the crash we don't know, but it's certainly a crash. Buy the dip and all that, but I think it's a bit unhealthy to keep calling everything "a dip".

I'm not really fazed by it. Mining is still profitable and fingers crossed it'll blast up and beyond in the future again, in which case it's a nice opportunity to buy some discounted coins if you think they will. The people that will sell out (most likely at a loss) are unfortunately probably the ones that FOMOed in at or around all time high perhaps with too much money and are now scared by the massive drop in price.

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Watching with interest. More by chance than any conscious decision on the timing I did cash out of ethereum when it was near its peak over 4000 last week. I'm still mining on the side when hardware is not being used for other more important things like gaming. People who are in it for the long term will monitor and adapt accordingly.

Desktop Gaming system: Asrock Z370 Pro4, i7-8086k, Noctua D15, Corsair Vengeance Pro RGB 3200 2x16GB, Gigabyte 2070, NZXT E850 PSU, Cooler Master MasterBox 5, Optane 900p 280GB, Crucial MX200 1TB, Sandisk 960GB, Acer Predator XB241YU 1440p144 G-sync
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3 minutes ago, porina said:

Watching with interest. More by chance than any conscious decision on the timing I did cash out of ethereum when it was near its peak over 4000 last week. I'm still mining on the side when hardware is not being used for other more important things like gaming. People who are in it for the long term will monitor and adapt accordingly.

Unless you bought at like 3950 I'd say cashing out at 4k was a good choice regardless.

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13 minutes ago, tikker said:

Unless you bought at like 3950 I'd say cashing out at 4k was a good choice regardless.

I think he never bought any he only mines and to an extreme degree games on mining hardware.

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14 minutes ago, tikker said:

Unless you bought at like 3950 I'd say cashing out at 4k was a good choice regardless.

I don't consider myself a long time holder. I wanted to cash out for a while. Seeing what was then all time highs that seemed as good a time as any, at the risk of missing out of even higher highs. My track record on predicting the future isn't great. I sold a bunch of GPUs towards the end of last year possibly at their lowest price ever. Like everyone I thought we'd be all using current gen now. That worked out great...

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2 minutes ago, genisboy said:

I think he never bought any he only mines and to an extreme degree games on mining hardware.

Close. I game on gaming hardware. But if I'm not gaming, it can mine for a bit. None of my hardware was obtained with the intent of mining. It is for gaming in particular and other general uses.

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Former Main system: Asus Maximus VIII Hero, i7-6700k, Noctua D14, G.Skill Ripjaws V 3200 2x8GB, GTX 980 Ti FE, Corsair HX750i, In Win 303 NVIDIA, Samsung SM951 512GB, WD Blue 1TB, Acer RT280k 4k60 FreeSync [link]
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33 minutes ago, porina said:

I don't consider myself a long time holder. I wanted to cash out for a while. Seeing what was then all time highs that seemed as good a time as any, at the risk of missing out of even higher highs. My track record on predicting the future isn't great. I sold a bunch of GPUs towards the end of last year possibly at their lowest price ever. Like everyone I thought we'd be all using current gen now. That worked out great...

I mean in the end nobody can really predict these fluctuations. We have a bunch of models that seem to predict the Bitcoin trend fairly well, but mostly the general trend and not the big spikes. It's mostly a guess. You can buy like 1.5-2x the ETH you sold back now or pocket some nice change. Both good things in my book.

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1 hour ago, tikker said:

I mean in the end nobody can really predict these fluctuations.

Exactly. I can only do the best I can in the short term with the info I have at the time. I win some, I lose some. Crypto to me is a supplemental income and not something I rely on, but at the same time I wont turn it away as long as it makes sense.

Desktop Gaming system: Asrock Z370 Pro4, i7-8086k, Noctua D15, Corsair Vengeance Pro RGB 3200 2x16GB, Gigabyte 2070, NZXT E850 PSU, Cooler Master MasterBox 5, Optane 900p 280GB, Crucial MX200 1TB, Sandisk 960GB, Acer Predator XB241YU 1440p144 G-sync
TV Gaming system: Asus B560M-A, i7-11700k, Arctic eSports 34 duo, Corsair Vengeance Pro RGB 3200 2x16GB, MSI 3070 Gaming Trio X, EVGA Supernova G2L 850W, Anidees Ai Crystal, Samsung 980 Pro 2TB, LG OLED55B9PLA 4k120 G-Sync Compatible
Streaming system:聽Asus X299 TUF mark 2, i9-7920X, Noctua D15, Corsair Vengeance LPX RGB 3000 8x8GB, Asus Strix 1080 Ti, Corsair HX1000i, GameMax Abyss, Samsung 970 Evo 500GB, Crucial BX500 1TB, BenQ XL2411 1080p144 + HP LP2475w 1200p60
Former Main system: Asus Maximus VIII Hero, i7-6700k, Noctua D14, G.Skill Ripjaws V 3200 2x8GB, GTX 980 Ti FE, Corsair HX750i, In Win 303 NVIDIA, Samsung SM951 512GB, WD Blue 1TB, Acer RT280k 4k60 FreeSync [link]
Gaming laptop: Lenovo Legion, 5800H, DDR4 3200C22 2x8GB, RTX 3070, 512 GB SSD, 165 Hz IPS panel


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3 hours ago, porina said:

Watching with interest. More by chance than any conscious decision on the timing I did cash out of ethereum when it was near its peak over 4000 last week. I'm still mining on the side when hardware is not being used for other more important things like gaming. People who are in it for the long term will monitor and adapt accordingly.

I cashed out a few weeks ago, it wasn't a the peak and if I waited I could've gotten almost $100 more, but with the volatility of crypto I have decided not to worry to much about the value after cashing out a long time ago !

Early 2018 I cashed out when BTC was at $15k ... if I held out on it instead, I would now have 4x the money. But then I wouldn't have my current build (that's why I cashed out in early 2018, to upgrade my 4th gen i5 PC to a 8th gen i7).

So yeah, I'm personally not to worried about the current crash (didn't cash it all out, so I'm still losing money, but meh), as usual, it's going to go back up and when it does, the mining will surge up again. In the meantime, mining isn't going to stop overnight, like last time, it's going to take a while before miners start selling their card.

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2 hours ago, wkdpaul said:

I cashed out in early 2018, to upgrade my 4th gen i5 PC to a 8th gen i7

i bought the dip ytd

i earned enough to buy a new scalped GPU in 2 hours, it's been great

but i don't think im buying anymore gpu until price calms down or smth, we'll see

i have enough gpus i would think

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23 minutes ago, Moonzy said:

i bought the dip ytd

Yeah I made a "prediction" how deep it would go and what do you know it came true haha. I've never bought the dip so close to the dip.

3 hours ago, wkdpaul said:

I cashed out a few weeks ago, it wasn't a the peak and if I waited I could've gotten almost $100 more, but with the volatility of crypto I have decided not to worry to much about the value after cashing out a long time ago !

Early 2018 I cashed out when BTC was at $15k ... if I held out on it instead, I would now have 4x the money. But then I wouldn't have my current build (that's why I cashed out in early 2018, to upgrade my 4th gen i5 PC to a 8th gen i7).

So yeah, I'm personally not to worried about the current crash (didn't cash it all out, so I'm still losing money, but meh), as usual, it's going to go back up and when it does, the mining will surge up again. In the meantime, mining isn't going to stop overnight, like last time, it's going to take a while before miners start selling their card.

That's the thing with the whole "if I held out". You're dealing with unrealised potential gains and hindsight is 20/20. Personally if I make $100 in profit, but could hypothetically have made $200 by waiting one more week, I don't consider it as that I lost $100. At the time it might as well have tanked leaving me with a $250 loss. You got a nice PC upgrade out of it and isn't that all that matters the most in the end?

I started reading up on crypto december last year and small time mining/investing in it at the start of the year. ETH was "only" at $500, I would've been rich had I poured a big chunk of money in it then. To all the people saying "if only I bought BTC at $10" I heartily agree with the point of view that you most likely would've cashed out big time once that stash hit $10000 a coin.

Also, as you say, mining won't stop. Yes it's a crash, but look at the chart compared to a year ago. It's like x10 minimum all over the place. If you were in significantly a year ago this crash makes hardly a dent in your earnings.

4 hours ago, porina said:

Exactly. I can only do the best I can in the short term with the info I have at the time. I win some, I lose some. Crypto to me is a supplemental income and not something I rely on, but at the same time I wont turn it away as long as it makes sense.

Yep similar case here. I'm taking the risk of doing it as a risky long term investment in the hopes it will help out for future big money situations.

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i have 2 accounts.

1 long term investing and 1 short term.

they stay separate and both have made money. more then i put in.

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Not enough of a crash to cause any miners to liquidate their assets. We would probably need it to dip just as hard without recovery at least one more time if not twice to see antsy miners getting out of mining

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5 hours ago, LavenderPhantom78139 said:

Not enough of a crash to cause any miners to liquidate their assets. We would probably need it to dip just as hard without recovery at least one more time if not twice to see antsy miners getting out of mining

It would need to drop below a profitable rate. For reference, on a 1080 Ti at current difficulty that would mean ETH needs to drop to below $1000 at which point at my electricity cost it would be breaking even. In other words the latest cards would stay profitable even longer. The side effect of this could be that perhaps miners would then leave, which drops the difficulty and thus increasing hashrate and revenue for miners again. Even if it's not profitable now, if there's hope it may rise in the future again, they'll continue mining regardless. It's hard to say what exactly needs to happen for miners to give up.

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20 hours ago, tikker said:

You got a nice PC upgrade out of it and isn't that all that matters the most in the end?

100%, that's what I was trying to say, sorry if that didn't translate too well ! 馃槃

9 minutes ago, tikker said:

It would need to drop below a profitable rate. For reference, on a 1080 Ti at current difficulty that would mean ETH needs to drop to below $1000 at which point at my electricity cost it would be breaking even. In other words the latest cards would stay profitable even longer. The side effect of this could be that perhaps miners would then leave, which drops the difficulty and thus increasing hashrate and revenue for miners again. Even if it's not profitable now, if there's hope it may rise in the future again, they'll continue mining regardless. It's hard to say what exactly needs to happen for miners to give up.

Yeah, that's the thing with the current crash, we're back to early 2021 value, where the rush for mining started. So if people jumped into mining because of coins being at those values, then they're not going to get out now that it's back to the聽value that made them jump in !!

It would need to go back to much, much lower values for mining to slow down.

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1 hour ago, wkdpaul said:

100%, that's what I was trying to say, sorry if that didn't translate too well !

I assumed as much, it was more a rhetorical question 馃檪

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9 hours ago, wkdpaul said:

Yeah, that's the thing with the current crash, we're back to early 2021 value, where the rush for mining started. So if people jumped into mining because of coins being at those values, then they're not going to get out now that it's back to the聽value that made them jump in !!

fear is op, heard there's a nerf in next patch to make people less chikin and think with their brain for once

not to say fear is never useful, but making sound decisions is often better than kneejerk reactions

My PCs: Desky | Beddie | Miney聽|聽Benchie

Things I need help with: (nothing at the moment)

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I hate Intel's pricing, Ryzen's weird quirks, Nvidia's pricing, and Radeon GPUs in general

Spoiler

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Sony Xperia Z1 / Z2 / 10 ii, Asus Strix 970 / 1070, Samsung SSD, WD HDD,聽Corsair PSUs (AX, RM, CX(grey)), GeForce GPU, NZXT N450/S340, be quiet! Coolers, G.Skill Trident RAM, Logitech M525, Logitech G440, Razer Deathadder Elite

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Companies I absolutely adore: (and hope it stays that way)

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Corsair - very good RMA experience, absolutely recommend

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Personal Blacklisted Companies:

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Gigabyte: horrible customer service (gigabyte had literally 0 customer service, asked me to go to retailer with NO WAY to email them about a question) but at least they fixed my shit in ONE MONTH (would probably take me 1 hour to fix if they let me email them)

XiaoMi Phones: built聽like a tank but the software is buggy as all hell

Seagate HDD: had too many dead seagate drives

Kingston SSD: 300V controller swap thingy

Razer (except their mouse)

Remember, just because I had聽good/bad experiences with these companies/product, doesn't mean you will have similar experiences too. I would still recommend these products if they made sense for your needs, but I'll add a disclaimer of my experience if it's聽relevant. Feel free to DM me asking why they are where they are.

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On 5/19/2021 at 6:09 AM, genisboy said:

Crypto is crashing Ether crashed almost 40% in one day!!! Every major coin聽is in the double digit losses聽

finance-yahoo-com-1024x768desktop-ca8b23.png

Except chia. It鈥檚 still fairly flat. Been dancing at 800-1000聽

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5 hours ago, Hill160881 said:

Except chia. It鈥檚 still fairly flat. Been dancing at 800-1000聽

I don't know if you could call chia a major coin. It's been live for less than a month and it's market cap is on the level of polkadot.

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20 hours ago, genisboy said:

I don't know if you could call chia a major coin. It's been live for less than a month and it's market cap is on the level of polkadot.

And it finally came down just like the others.聽

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On 5/19/2021 at 3:12 PM, Levent said:

So?

Hodle the diamond hand聽to the moon.

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On 5/20/2021 at 2:58 PM, wkdpaul said:

Early 2018 I cashed out when BTC was at $15k ... if I held out on it instead,

If this trend continues you might get a second chance...

RIP investments (7 day trend):

afbeelding.thumb.png.7365a46b7591c4e1f6ac64688a82d10c.png

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  • 5 weeks later...

It is reaching new lows in latest times:

1 Bitcoin equals - 25,634.25 Euro ...聽30,153.00 United States Dollar聽

... but I'm no expert.

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  • 2 weeks later...

who cares this shit happens every 4 years. we predicted this already in febuary. time to keep mining and hodle. in 4 years my coin will probably be worth tripple.

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I can't believe how badly it has crashed. I was only introduced to mining around March this year and managed to get 3 cards which I believed to be decent. At first it was all good and balance was going up nicely but a few weeks ago my balance was going down even with 3 cards working their socks off. Barely covered the energy cost. I've sold one but will continue doing some mining as I'm sure it will come back up at some point. Was a radeon 5500xt which was pretty lousy for mining but fine for 1080p gaming so rehomed it.聽

Learned an absolute load about mining which in itself is worth something. I really regret selling off my older cards like 1060, 1080s etc last year as I let them go cheap and would have been better mining. Saying that it is nice to let someone have them for gaming.聽

I am a bit of a simpleton who just uses nicehash for mining. From what I have read it can become horrendously complex and I wouldn't want mining to be my main income. I know a lot of people who have lost serious money lately from the crash and they are not miners. Just people who accept BC as payment for their services. Whole thing is a gamble at the end of the day.

Energy prices were I am in the UK are very high so unless the cards has rate is 50 or above then its hardly worth wearing GPUs out for.

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