Cryptocurrency on freefall

>>61305724

/biz/

>>61305724
>Hecyщecтвyющaя """вaлютa"""
>>>/trash/

>>61306113
Your post has been hacked by Ruskies, man! Watch out!

>>61306132
>>61306113
OK guys I'm just kidding LOL :---DDDDDDDD

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>>61306113

>>61305724
I hope this is true, since only normies care about buttcoin these days and watching them get shit on never gets old

Does this mean I should buy now?

>>61305724
Can only hope so. Was planning to drop few hundred bucks on ETH in August. You must be pretty retarded if you still believe that the shit won't jump up soon.

>>61306113
>implying it's any different than fiat shit

sauce?

>>61306175
buying during times of instability is no better than gambling

>>61306180
>Buy 1 ETH for £6 in Jan 2017
>Peaks in May/Early June
>Decide to continue to hold instead of withdraw
>ETH is crashing
>BTC is crashing
>all cryptos are crashing

T-There is hope, right /g/?

>>61306175
Buy high, sell low.

> Bitcoin banks on a normie breakthrough
> Altcoins bank on a bitcoin normie breakthrough
If you didn't sell at 2.5k you deserve to lose all your money
This shit is NEVER going to be a normie currency

I JUST BOUGHT 10 480s

WHAT THE FUCK AM I GOING TO DO WITH 10 OF THOSE PIECE OF SHIT CARDS?

It was only ever going to work if the price didn't drop and it hasn't for half a year and now this bullshit?

>>61306295
Fuck you, this is what you deserve.

>>61306227
You are not wrong but pretty much every "investment" with such potential returns is. It's to put some cash you don't need with the chance that suddenly the shit will jump up. No one sane empties their retirement fund to buy memecoins ... I hope.

>>61306237
Remember what happened to bitcoin? It fluctuated like shit too at start. I sold mine at $250, felt right at that time and then stuff happened. ETH is completely superior and got industry support, it's not going anywhere and will rise.

>>61306295
Mine some other shit. Mining is generally pretty silly, unless you can leach electricity somehow and get the hardware for a laughable price.

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>>61306295
Didn't you see all the threads telling you not to get invested in mining, especially now? Shoulda listened. If you weren't already part of the initial wave, then it's too late.

>>61306227
It's better than gambling because you'll at least be able to get some money back

Litecoin had a segwit and it shot up from $4 to $50

>>61305724

>yfw all the big whales pull out of btc and go all in with ETH.

>>61306338

I got a good deal on them though, pretty much just paid MSRP for used ones. But that's still $3000 I'm out in addition to the 2 X99 boxes they go in

>>61306374
Doubt it, there is no inflation risk with BTC, it's fucking gold just easier to store.

>>61306389
I'm a nice guy, so I'll buy one for 120.

>>61306374
ETH is crashing even harder

Member when BTC crashed to 25 and everyone thought it was over, member???

Any reason why simply downloading the wallet makes muh PC heat up?

>>61306427

I'd rather throw one of them into the fucking ocean before I take a more than 50% hit on even one of the RX 480s

>>61306640
Botnet?

Buy Tether it's on the rise and stable.

>>61306113
>Hecyщecтвyющaя
нecyщecтвyющий вaлютa
>not even russian

>>61306704
Valuta is feminine.

>>61306647
>I'd rather take a 100% hit than a 50% hit

>>61306647
People will still buy them for more than you paid probably due to the shortage.

I hope all those miner faggots will sit on their used 480's and 580's because nobody will be dumb enough to buy miner cards.

>>61306732
No one will pay full price for a card used for mining

>>61306647
you can still sell them for msrp on eBay but you will probably get jewed buy some pajeet who is just about to found out the price of crypto is bottoming out and the hashrate is about to get really bad on those cards.

>>61305724
>I have no idea what I'm talking about
>>61306632
Everyone here it's from 2014 or 2016, of course they won't remember anything
>>61306755
>I have no idea how solid state electronics work

>>61306704
you are wrong

>>61306718

It's the principle

>>61306879
The principle of being an idiot

>>61305724
I wish all miners would get cut in half.

>>61305724
>2500 btc

I'm feeling real bad about formatting my 50btc from when they were worth less than a tenth of a cent each. i'm a poorfag b t w

>still worth $2385
wow its fucking nothing

>>61308089
that's 10% decrease in 1 day with all valuable coins trending downward to match.

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keep up the good work bois

>>61306389
8gb or 4gb?

>>61305724
rip my 500 something dogecoin and 14 bts and .001 eth

>>61308294
A bit more work and you guys will get to 200.

>>61308294
Doesnt compare to when /g/ spread a rumor that Jobs died and caused apple stock to dip by 10%

>>61308294
the "rumor" happened after the crash

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>durr crypto bubble popped lmao!!

it'll be over in two days and nocoiners will still be butthurt

>>61305724
Not a fan of bitcoin, but this graph is extremely misleading. Look at the y axis, it doesn't go from 0 to 2550 but from 2450 to 2550

What it means is that Bitcoin is worth 4% less, which isn't that bad. It would be like if dollar wasn't worth 1.14 Euros no more but 1.17 Euros

FAKE NEWS

does vram make a difference for mining?
i can get 4gb rx 480s pretty cheaply

>2550 drops to 2450
4% dip in day trade

Literally NOTHING

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>>61305724
>literally half of the current Bitcoins
Stop spreading FUD if you don't what's happening.
In what you are talking about where it would split into 2 chains for forever, all of the bitcoins before the split will be valid as both.
So if you start with 1BTC enough miners stay stubborn and don't upgrade (this also means they will be making less money off transaction fees) you essentially have 1BTC on one branch and 1 BTC on the upgraded half.
If we just ignore the old chain and made btc on the old branch be practically worthless, the value of BTC wouldn't drop much.

>>61308520
BTC just had an extremely bullish period recently so of course you have to expect the value to try and correct itself.

>>61308294
I wonder if I could make a profit off of spreading rumors on memechan :^)

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>>61308816
>implying people don't already do that
>implying 90% of >>>/biz/ threads aren't that

>>61308816
it was probably vitalik himself, the cheeky zombie looking russkie

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>>61305724

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>>61306718
Miners

>>61306295
You only played yourself KEK

>>61306295
Hey since you are a fellow /g/entooman, i take one for $100

>>61305724
Sell all your crypto to companies now.

Those left holding dead currency are the ones who lose.

>>61305724
Seemingly, every generation needs to go through their own hard lesson in ponzi schemes. History is ever enough. At least, this time, the broader ecosystem will benefit from lots of cheap GPU hardware hitting the market for actual productive compute.

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>>61306295
play stupid games win stupid prizes

>>61310701
lol. I bought a Fury at the beginning of the year for $240. Mined with it casually when I was at work or sleeping. It's already paid for itself three times over.

If you had an AMD card already, you may as well mine with it, but if you bought cards specifically for mining this late in the game, you're just a fuckin dunce.

>>61306632

Remember when Cyprus banks were buying bitcoin to protect their money inflating the price to ridiculous levels after the crash at 25?

What nation will inflate your coins now?

>>61305770
Money is technology though. Do you even dialectical materialism

how will i buy my drugs off the DNMs now

>>61306295
search for aliens, seti@home

>>61306389
>MSRP for used
WAT

I did some quick math based on hashrates and difficulty increases,

A single 480 would take, assuming it was set to draw 150w and no more, $115 of electricity over 8 months at USA average cents/KwH.
>.15KwH * 24hr * 30.5day * 8mth * $0.1325
In that 8 months you would gain (at prices two weeks ago) ~$440 of ETH.

440 - 115 = 325 minus (cost of card) = ????
And then there is MTBF rates and the losses from downtime to factor in.
With 480s/580s going for double and more their MSRP you people are flat out getting played and are too stupid to realize it.

I concluded that any given hardcore mining setup takes roughly 10 months to reach break even, and the market is so volatile to begin with that you're making a 50/50 bet on throwing money away over that time span.

>but anon I'm making a bet that the value will continue to rise!
Stock markets behave like herd animals travel, that's my only advice.

>>61311116
what did you mine with the Fury?

>>61305724
lamo

if you have 2 BTC and there's a fork then you're not suddenly sitting on just 1 BTC. You'll have your 2 BTC and 2 newchainBTC too.

>>61306368
lightcorn is so last year.

>>61306697
Tether is a total scam and you can see why by reading it's terms of service. There is no obligation to redeem these for anything.

>>61308404
>over in two days
Look at the chart you yourself posted. That's distribution you're looking at, right there. It's the bear-market. Yes, it will recover and there will be another bubble but we're looking at two years, not two days.

>>61312143
Not him but the smartest move you could make was probably dual mining Sia and Ether

>nocoiners still won't get in on this dip

Now is the time to buy

>>61305724
stay on your containment board, you fucking shitstain
>>>/biz/

>>61306227
your mother took a gamble thinking she would have a child that grew up to be worth something and look how that turned out

Eth is under $210 ATM. Lowest it's been in a month

It's hardly fallen that far yet

Of course cryptos are still a meme. Seriously there are less actual transactions done in bitcoin now than when it was worth like $500, because Silk Road shut down. Yet people are still buying it for some reason.

BUBBLE

>>61312791
Silk Road shut down, but there are dozen of substitutes

>>61306295
Sell me one for 90USD

crypto is dead

>>61308338
wtf, when did this happen?

>>61305724
This is not a big deal whatsoever. Keep investing in Bitcoin everyday; ignore price. So far, I have 14 Bitcoins. The price will rise more and more as time progresses, and I will be sitting pretty!

>>61312791
>Of course cryptos are still a meme
You don't understand Ehtereum or Bitcoin.

In this thread, old timers and children unable to comprehend the new industrial revolution. Mark my words, you'll all regret you didn't get in now when the price is still low. Bitcoin will be worth million(s) as we evaluate for the long term.

>>61312965
Eth I understand fully. Bitcoin is literally just a fucking joke that people won't let go of though and is only still a thing due to the First advantage.

>>61312996
In this thread, redditors and children unable to comprehend a speculative bubble. Mark my words, you'll all regret you didn't get out now when the price is still high. Bitcoin will be worth little after people realize you have to convert it to USD to actually buy anything.

Does that mean I can buy a cpu now

>>61311395
>Money is technology
>dialectical materialism

wat, are you serious or just spouting memes

money differs from value insofar the belief of volatility is influenced by scarcicty which can be influenced
cryptocurrency is more of a commodity within a closed capitalization and technically not within the market as the bubble is insulated
the first burst came through the correction that only middle-men can regulate this market to limit risk
therefore proposing a relation between a perceived change which affects a portion of society ascribed to a value trading a currency isn't dialectical but more within a self-fulfilling prophecy
creating an equation between cryptocurrency and legal fiat tender is far flung because of this insulation yet if you speak as money as technology being a driver for change as progress is inherently valuable for its own sense is fallacious because progress would be therefore pursued for profit which is contradictory as the means would depend on the environment for greater survival.

could carry on but develop further

>>61312996

tell me more on black markets with irreversible transactions, this isn't the industrial revolution which is transparent asf it's the byproduct of a hash

crypto""""""currency""""""

Can someone post the images from the bitcoin subreddit they warm my thrussy desu

>ETH up nearly 4000% in 6 months
>surprised when that this sort of growth isnt sustainable

Yet people look at the S&P 500 in denial and think "Yes, it only goes up." Can't wait for this tech bubble to collapse. Crypto is fine though, its here to stay

>>61313099
>Crypto is fine though, its here to stay
Somewhat agreed but only in the sense that Linux is here to stay.
there's no year of the Linux desktop and it's not the next big thing. Anyone who believes that is fooling themselves. There will always be a niche market for an anonymous currency and nerds who think it will one day be big (like Linux desktop) will continue to invest without actually using it as a currency.

So I also believe it will continue to have worth and never fully crash.

>>61313162

good analogy with linux but this isn't a mere system, it also depends on acceptance because a linux user can still connect within the same universality as everyone else without being constrained, as developers may follow a monopoly without a port.
so when you have linux users connecting only between themselves then the options are limited because the network is walled and the worth isn't fully convertible into real world applications, so besides the silos and stores of value that can remain dormant in perpetuity, real world exchange is limited as far as the medium is accepted and convertible, and acceptance to a certain degree will imply some form of traceability either physical or digital

>>61313099
>Yet people look at the S&P 500 in denial and think "Yes, it only goes up."
Are you seriously comparing something that moves upwards at a glacial pace to the sort of "YOU TOO CAN INVEST $0.50 AND HAVE IT BE WORTH $75 MILLION WITH BITCOIN IN JUST A COUPLE YEARS!!!!" growth?
Like what nigger?

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>>61306295
Please flood the used GPU market so I can buy cheap gpus for builds

>>61306295
Fucking mining was the biggest meme of all. At least bitcoin is just an investment.

>actually paying money for shit to mine scam cryptos you don't intend to use and only want to trade out for real money
you fucking got MEMED

>>61306295
Make a render farm for AMD ProRender and learn blender to get funding making porn.

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>>61305724
>Due to a design error
lmao you faggots got scammed

>>61306295
Nice job fucking over 10 people that actually needed those cards because they dont have money to spend on pretend money.
Go play WoW some more you fucking chode.

>>61305724
>Healthy pullback, situation normal
Not that I think bitcoin really does have value

>>61306295
Fuck you then. I have been trying to buy a 480/580 at normal price for weeks.

>>61313666
This. It was planned obsolescence all along. They're using segwit as a smoke screen to steal BTC holders' money.