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Ask me about Bitcoin/Crypto investing

RayDunzl

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Wombat

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So, this thread inspired you to invest in bitcoin. How much are you down? Ah, it is a long-term investment. :D
 

RayDunzl

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Dismayed

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I’m sticking with Dutch Tulip Futures!
 

RayDunzl

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Traders gonna trade...

The 10 day simple moving average was the floor (support) on the perky runup, and is limiting rises (resistance) pretty well on the way down.

The 50 day SMA held for while on the way down, and that support became resistance for the rise (retest) after it failed.

The next drop found the 100 day SMA. The 10 day contained the bounce. Not much more to see there yet, except it didn't hold, and has become resistance to today's rise from below.

Next leg down will likely observe the 200 day average, $8000 or so.

After that, I have no opinion right now.
 
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amirm

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Had no idea there was a run going on graphics cards for this use!
https://www.extremetech.com/computi...ts-crypto-hysteria-pushes-gpu-prices-sky-high

One of the most important choices every PC builder makes is which graphics card to buy. That choice has been getting much more stressful lately as the price of GPUs skyrockets. You can thank the surge of interest in cryptocurrency for the increase in graphics card prices, but Nvidia is trying to do something about it. “Trying” is the operative word here.

As recently as the middle of last year, you could get a high-end GPU from Nvidia for around retail price. The cost of AMD’s cards has been on an upward trend for even longer, though. Late last year, increased interest in cryptocurrency sent speculative virtual money enthusiasts running for their nearest GPU retailer to pick up equipment for a mining operation. That’s left precious few cards for gamers who just want to frag some noobs.

Cryptocurrencies like Bitcoin and Ethereum are too mature now for a small-scale GPU mining operation to net much cash. Even newer coins like Monero might only make an operator the equivalent of a few dollars per day, but a jump in the value of the coins could make them instant millionaires. As a result, it’s a terrible time to buy a GPU for gaming. Cards like the GTX 1070 that cost under $500 last year are now selling for closer to $1,000. Even used cards will cost you $800 or more.

Nvidia has had enough of the price gouging, so it’s asking retailers to reserve some supply for gamers. Specifically, Nvidia’s proposal is a limit of two cards per customer, enough to set up a sweet SLI rig if that’s what you’re into. It can’t make anyone do that, but its own online store has implemented the pricing limit. Nvidia hasn’t increased the price of the “Founder’s Edition” cards, either. Even with the limit, Nvidia’s supply is all sold out.

It’s nice that Nvidia is taking notice of the problem, but targeting retailers probably won’t do much good. A significant volume of supply is probably never making it to retailers in the first place. Manufacturers like Asus and MSI are happy to sell cards wholesale in bulk. So, miners buy a crate of GPUs direct and save a few bucks, but retailers have fewer cards to sell.

If you need a graphics card, your best bet is to wait on Nvidia to restock at its more reasonable prices. I wouldn’t expect those units to last long, though. If people aren’t buying them for crypto mining, they might just flip them for a big profit to those who are.​
 
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My half year old GTX 1080 FE is worth more than I paid for. Tempted to sell it but than I wouldn’t have a high end GPU to replace it :p
 

soundArgument

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My half year old GTX 1080 FE is worth more than I paid for. Tempted to sell it but than I wouldn’t have a high end GPU to replace it :p
I'm a bit puzzled by these reports. As early as 2013, GPUs reportedly could no longer profitably mine bitcoins, and FPGAs and even ASICs--yes, chips built to mine for bitcoins--had become the ICs of choice for miners.

Even with higher Bitcoin prices, even the semi-strong form of the efficient market hypothesis would suggest that FPGAs and ASICs would fill the mining void.

Perhaps the cryptocurrency space is one in which the efficient market hypothesis lacks any predictive power...
 
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I'm a bit puzzled by these reports. As early as 2013, GPUs reportedly could no longer profitably mine bitcoins, and FPGAs and even ASICs--yes, chips built to mine for bitcoins--had become the ICs of choice for miners.

Even with higher Bitcoin prices, even the semi-strong form of the efficient market hypothesis would suggest that FPGAs and ASICs would fill the mining void.

Perhaps the cryptocurrency space is one in which the efficient market hypothesis lacks any predictive power...
People aren't buying GPUs to mine Bitcoins (at least most people aren't), they are using it to mine other newer crytocurrency. Etherium just half a year ago was extremely profitable through just GPU mining. Other ones I'm not sure about but I seriously considered mining Etherium. Thinking about it now, probably should have done it, could have come out ahead just by selling all the GPUs that have doubled or tripled in price. Though to be realistic, I didn't have a spare room to put a bunch of heat pumping mining rigs. :(
 

RayDunzl

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"Here is the typical map of investor sentiment for past bubbles:"

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