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Posted on 5/10/21 at 12:28 pm to BaddestAndvari
quote:
Celsius as well, I have setup both and will probably move mostly everything to Celsius because of Blockfi's arbitrary restrictions on max coins
Could you explain this a little more? I am considering putting some stable coins in either Blockfi or Celsius to earn interest like a savings account. What are the benefits of Celsius compared to Blockfi or vice versa?
Posted on 5/10/21 at 12:40 pm to Tiguar
quote:
Or it’s exactly what happened last time
While this time does "keep" feeling different, I just can't help but feel like this:
We will see - I've never "expected" a crash for 8+ months before like this, literally back at Thanksgiving I was talking about January being the most extreme theoretical "top" we could get to in this cycle... just look at it now.
(That was for Bitcoin, which was $29,000 in January, this bull market is just different, and at this point I'm done predicting, I'm just expecting a massive selloff, and would happy to be wrong if it takes a long time to happen - or never happens)
This post was edited on 5/10/21 at 12:45 pm
Posted on 5/10/21 at 12:49 pm to BaddestAndvari
There’s enough data on btc now to trend and avoid pure speculation.
This is a double edged sword because yeah you can trend it...but you can trend it, which means it theoretically should be less volatile.
But at the end of the day, miners still hold most of the cards with btc.
Gas fees are sky high on eth and amateur “home office” miners are about to put downward pressure on its price just like 2018.
Like you say, time will tell. Either direction is a good one for me.
This is a double edged sword because yeah you can trend it...but you can trend it, which means it theoretically should be less volatile.
But at the end of the day, miners still hold most of the cards with btc.
Gas fees are sky high on eth and amateur “home office” miners are about to put downward pressure on its price just like 2018.
Like you say, time will tell. Either direction is a good one for me.
This post was edited on 5/10/21 at 12:54 pm
Posted on 5/10/21 at 12:50 pm to BaddestAndvari
It felt different in late 2017 but there was still not much practical usability of crypto then. Lots of dreams and ideas but not much practical implementation. There were no killer apps to draw in the masses and capture them.
Others may not agree, but I feel that today's improvements on the above still feel underwhelming.
Others may not agree, but I feel that today's improvements on the above still feel underwhelming.
Posted on 5/10/21 at 12:53 pm to rocket31
quote:
ha well it does seem like people are overly euphoric right now. it's been awhile since we've had one of those 20% pullbacks
There was a 25% pull back just last month
Posted on 5/10/21 at 12:56 pm to 13SaintTiger
What I’m wondering is if the 0.09 ratio with btc is magic for eth. If so, and this is completely theoretical, eth will flirt around 5k-5.4K and that’ll be the top.
But that’s literal speculation
But that’s literal speculation
This post was edited on 5/10/21 at 12:57 pm
Posted on 5/10/21 at 12:59 pm to Tiguar
quote:
Gas fees are sky high on eth and amateur “home office” miners are about to put downward pressure on its price just like 2018.
This isn't true.
While it is true that many cards are "profitable now" there is not enough 5+ year old gaming PC's to drive the hash power in a way that you mention.
The only-thing that will move hash power significantly are the new ASIC miners being deployed form China.
Also, Miners dont affect price people are willing to pay for Ethereum. Miners earn a reward. That is it. They mine blocks to process transactions and are paid in ETH.
This post was edited on 5/10/21 at 1:02 pm
Posted on 5/10/21 at 1:01 pm to JayDeerTay84
Fair that it may not impact market movement, but people are in fact making a car payments worth of profit on eth right now with a 1080.
Selling of rewards creates the pressure; not generation there of.
Selling of rewards creates the pressure; not generation there of.
This post was edited on 5/10/21 at 1:02 pm
Posted on 5/10/21 at 1:04 pm to Tiguar
quote:
Fair that it may not impact market movement, but people are in fact making a car payments worth of profit on eth right now with a 1080.
Spot price sure. I have been mining for a while. This never lasts.
We will have a few days of crazy mining profits and then back to reality. Rinse Repeat.
Posted on 5/10/21 at 1:05 pm to Tiguar
quote:
Selling of rewards creates the pressure; not generation there of.
..... Now you are just using word play. Demand and supply is the only thing that affects price lol
If there was no demand miners would mine something else.
Posted on 5/10/21 at 1:09 pm to JayDeerTay84
I’m unsure what’s funny or what’s word play.
Retail miners sell, experienced miners may or may not sell. Inexperienced miners tend to create more blunt sell pressure than experienced ones, thus increasing supply.
Your kind does what it does and I’m not really talking about people who have been mining for years and know what they’re doing.
Retail miners sell, experienced miners may or may not sell. Inexperienced miners tend to create more blunt sell pressure than experienced ones, thus increasing supply.
Your kind does what it does and I’m not really talking about people who have been mining for years and know what they’re doing.
Posted on 5/10/21 at 1:17 pm to Tiguar
quote:
Retail miners sell, experienced miners may or may not sell. Inexperienced miners tend to create more blunt sell pressure than experienced ones, thus increasing supply.
These "inexperienced miners" dont exist in a way you mention.
It is exactly the opposite. Its the big pools that dump thousands of coins at a time. We saw this with BTC during its pump and F2Pool.
Here is a reference. I have just over 800 MH/s in my operation. All new'ish RTX cards. This 8-15X what your average joe is about to turn nicehash on with.
Do you know how long it would take me to earn even 1 ETH in rewards with this hash power?
This post was edited on 5/10/21 at 1:24 pm
Posted on 5/10/21 at 1:34 pm to JayDeerTay84
ICP with a not so strong debut. Yikes!
Posted on 5/10/21 at 1:50 pm to Douglas Quaid
yea. there are projects that are completely broken continually making all time highs. doge clones like shib doing 50-100x for no reason whatsoever. other crap that does not have any strong value proposition being promoted on binance.
one has to wonder how long manias like this can last
one has to wonder how long manias like this can last
Posted on 5/10/21 at 1:50 pm to JayDeerTay84
I’m well aware of how the btc miners influence the actual price in the long term which is why I said in my earlier posts it’s the miners game.
They dump when retail nerds get involved in the same way Saudi Arabia increases oil production when fracking gets profitable.
Same principle, different commodity.
They dump when retail nerds get involved in the same way Saudi Arabia increases oil production when fracking gets profitable.
Same principle, different commodity.
Posted on 5/10/21 at 1:51 pm to Mikes My Tiger
quote:
Could you explain this a little more? I am considering putting some stable coins in either Blockfi or Celsius to earn interest like a savings account.
honestly, I think BlockFi has better collateral loans and their rates tend to be a little higher, but for the most part Celsius and BlockFi are doing the same thing. My biggest thing with BlockFi recently is that if you have more than 2 BTC worth of coins on their platform the interest they pay out drops significantly - which somewhat goes against what their original goal was.
Both have pretty good stable coin rates, I'm just doing both right now for the signup rewards
Posted on 5/10/21 at 1:55 pm to rocket31
I’m riding Shib up to millionaire status
Posted on 5/10/21 at 1:58 pm to Tiguar
No normal person is mining btc 
Before today, a gtx 1080 was only making ~$150/month. The "retail miners" mining on single cards to make a buck here and there have such a miniscule affect on the actual market.
Most people that are taking mining seriously with multi-card setups or dedicated machines are hodlers
Before today, a gtx 1080 was only making ~$150/month. The "retail miners" mining on single cards to make a buck here and there have such a miniscule affect on the actual market.
Most people that are taking mining seriously with multi-card setups or dedicated machines are hodlers
Posted on 5/10/21 at 1:59 pm to BaddestAndvari
quote:
honestly, I think BlockFi has better collateral loans and their rates tend to be a little higher, but for the most part Celsius and BlockFi are doing the same thing. My biggest thing with BlockFi recently is that if you have more than 2 BTC worth of coins on their platform the interest they pay out drops significantly - which somewhat goes against what their original goal was.
Celsius is what, 3 coins before the rate halving?
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