Let's talk about Cryptocurrencies - Page 44 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Enoch Root · 02-13-2021, 04:04 PM

Quote:

Originally Posted by dino7c

What are your Crypto holdings?

Emotional, on here maybe but it's all in good fun...I am cold blooded in the market. I have been diamond handsing whole coins of BTC since March 2017.

I am passionate about crypto as I really believe in it vs a government printing money and lying about inflation.

Currently I am holding BTC and buying Eth and ADA

go on

underGRADFlame · 02-14-2021, 02:57 PM

So I'm new in the game when it comes to mining. I have a rig up and running 3 cards now using NiceHash. One of the cards is a GTX 1080... I was expecting a hash rate somewhere around 33-35, but am only getting around 26. Has anyone used OhGodAnETHlargmentPill for the 1080? Does it work?

accord1999 · 02-14-2021, 04:01 PM

Quote:

Originally Posted by underGRADFlame

I was expecting a hash rate somewhere around 33-35, but am only getting around 26. Has anyone used OhGodAnETHlargmentPill for the 1080? Does it work?

Yes, it works for the GDDR5X video cards but it may be tricky now to find a executable version of it that you can trust. However, with more recent mining software they have command-line options that duplicate that functionality. With t-rex, the option is "--mt 1" while phoenix it's "-straps 1 ". You can try higher numbers for better performance but with possibly less stability.

1_Flames_Fan · 02-15-2021, 11:37 AM

So just transferred a couple grand into my coinsquare account to buy bitcoin. Anyone want to offer an educated guess on a good target price to buy at in the next week or so to maximize? Seems like BTC price is all over the place. Any Bitcoin gurus care to weigh in?

worth · 02-15-2021, 11:57 AM

If you are going to hold for a few years or more, and believe the price is going to 2x or 3x over that time, does it really matter?

If you intend to sell when it tops, in a couple weeks or however long it takes, you are just gambling with your money. IMO now is not the time to accumulate BTC for this purpose as that ship has sailed. It will come back at some point, but it's not here now. You would be better off stashing your money away until the bull market is over and invest it during an accumulation phase.

1_Flames_Fan · 02-15-2021, 12:05 PM

Quote:

Originally Posted by worth

If you are going to hold for a few years or more, and believe the price is going to 2x or 3x over that time, does it really matter?

If you intend to sell when it tops, in a couple weeks or however long it takes, you are just gambling with your money. IMO now is not the time to accumulate BTC for this purpose as that ship has sailed. It will come back at some point, but it's not here now. You would be better off stashing your money away until the bear market is over and invest it during an accumulation phase.

Thanks I'm planning on holding it long term but I think I'll wait for the markets to settle a bit before buying more. Appreciate the advice.

worth · 02-15-2021, 12:10 PM

You could also think about dollar cost averaging whereby you purchase btc on a reoccurring weekly or monthly basis regardless of price. This takes the emotion and guesswork out of it and ultimately the cost averages itself out over time.

topfiverecords · 02-15-2021, 01:30 PM

Quote:

Originally Posted by 1_Flames_Fan

So just transferred a couple grand into my coinsquare account to buy bitcoin. Anyone want to offer an educated guess on a good target price to buy at in the next week or so to maximize? Seems like BTC price is all over the place. Any Bitcoin gurus care to weigh in?

When dino is right and it goes to $1M in 7 years your buy in price will make a huge difference in what percentage of that million you’ll be worth.

afc wimbledon · 02-15-2021, 02:10 PM

Quote:

Originally Posted by 1_Flames_Fan

So just transferred a couple grand into my coinsquare account to buy bitcoin. Anyone want to offer an educated guess on a good target price to buy at in the next week or so to maximize? Seems like BTC price is all over the place. Any Bitcoin gurus care to weigh in?

If this was any other investment you wouldn't buy on a massive upswing, you would look to the inherent value of the investment and wait for it to drop down into a value range where its future earnings make the investment sensible

But its bitcoin, which depending on your theological bent is either going to somehow manage to increase in value forever for no appreciable reason or is in the middle of a vast ponzi like bubble that will inevitably burst and leave anyone holding the coin broke, you pays your money you takes your choice.

Table 5 · 02-15-2021, 03:03 PM

Quote:

Originally Posted by 1_Flames_Fan

So just transferred a couple grand into my coinsquare account to buy bitcoin. Anyone want to offer an educated guess on a good target price to buy at in the next week or so to maximize? Seems like BTC price is all over the place. Any Bitcoin gurus care to weigh in?

Not particularly educated, but personally, I'd buy 25-50% at whatever price is now to make sure you're in the game and don't feel like your missing out. Then I'd wait a bit to see if it goes one of two ways:
1) If it breaks $50K (USD), I think 55-60 could be achieved pretty quick, so I'd use that as a signal to buy the rest.
2) If it refused to break 50 for a sustained time, I could see it dropping to the low 40s again, or potentially even to the 30s.

Personally, I'd also take about 20% of your investment and put it into Ethereum, as I think there is more room to grow there than in BTC. Also perhaps a bit into ADA, Polkadot, EOS.

GGG · 02-15-2021, 05:19 PM

I think the “real” value of Bitcoin is a very interesting question.

If Bitcoin is gold you could look at the world wide gold market value and use that as a proxy for the amount of stored wealth is currently required by financial markets outside of fiat currencies.

Right now there is about 10 trillion in gold out there. Bitcoin is worth about .9 trillion. So if you assume that Bitcoin will eventually replace the role of gold it could have 10x left in rapid growth before becoming just an inflation hedge.

Where this could underestimate the value is that gold is tough to buy, store and sell relative to Bitcoin so the people using it as an inflation hedge might expand to the retail level more so then gold. This would increase the market significantly. What would decrease potential is if it can’t defeat gold as the default inflationary hedge or if it has to share that 10 trillion dollar market with Etherium and other coins.

Of course this assumes that these coins don’t replace fiat currency entirely which while possible is more of a moonshot and also likely the end of nation states.

DownhillGoat · 02-15-2021, 05:35 PM

I think the other variable might be that gold has an inherent value as jewelry, which bitcoin will never enjoy.

Even after it didn't back currencies, gold had other uses.

PsYcNeT · 02-15-2021, 06:01 PM

Quote:

Originally Posted by DownhillGoat

I think the other variable might be that gold has an inherent value as jewelry, which bitcoin will never enjoy.

Even after it didn't back currencies, gold had other uses.

Not just that, gold is literally required for computers as we know them to function.

Winsor_Pilates · 02-15-2021, 06:45 PM

Quote:

Originally Posted by DownhillGoat

I think the other variable might be that gold has an inherent value as jewelry, which bitcoin will never enjoy.

Even after it didn't back currencies, gold had other uses.

You sure can't wear a bitcoin watch

starseed · 02-15-2021, 07:01 PM

Sure, but gold isn't as finite as Bitcoin. There are only a certain number of Bitcoin out there, and that number shrinks every time someone loses their wallet password. Gold can be mined, or transmuted from other elements like lead. Or so I've been informed.

Sent from my Pixel 4 XL using Tapatalk

GGG · 02-15-2021, 07:50 PM

Quote:

Originally Posted by starseed

Sure, but gold isn't as finite as Bitcoin. There are only a certain number of Bitcoin out there, and that number shrinks every time someone loses their wallet password. Gold can be mined, or transmuted from other elements like lead. Or so I've been informed.

Sent from my Pixel 4 XL using Tapatalk

Do alt coins provide that function for Bitcoin? Does it matter if Bitcoin is finite if you can create other coins to hold value in a similar manner?

afc wimbledon · 02-15-2021, 08:20 PM

gold has cultural value in much of the world, it is a way of displaying wealth for wedding celebrations and the like.
If India continues to grow then the rise of their middle class is going to increase the market for gold exponentially

afc wimbledon · 02-15-2021, 08:34 PM

Quote:

Originally Posted by starseed

Sure, but gold isn't as finite as Bitcoin. There are only a certain number of Bitcoin out there, and that number shrinks every time someone loses their wallet password. Gold can be mined, or transmuted from other elements like lead. Or so I've been informed.

Sent from my Pixel 4 XL using Tapatalk

If it is infinitely divisible doesnt that make it infinite in practice?
I have to admit that's one thing I have tried to wrap my head around

GGG · 02-15-2021, 09:59 PM

Quote:

Originally Posted by afc wimbledon

If it is infinitely divisible doesnt that make it infinite in practice?
I have to admit that's one thing I have tried to wrap my head around

That supports the infinite value Diamond hands argument. As demand for Bitcoin grows supply is constrained so price rises until the total market cap meets demand.

dino7c · 02-15-2021, 11:15 PM

Quote:

Originally Posted by starseed

Sure, but gold isn't as finite as Bitcoin. There are only a certain number of Bitcoin out there, and that number shrinks every time someone loses their wallet password. Gold can be mined, or transmuted from other elements like lead. Or so I've been informed.

Sent from my Pixel 4 XL using Tapatalk

this guy gets it

Unless you think this will be the all time high price for BTC now is a good time to buy. If you are holding it doesn't matter and any day a major investment could come and push it into another stratosphere.

ETH and ADA will have better short term gains though IMO