Who's invested in Cryptocurrency

AlexTheLion

Theta101 wrote: »

Yes. Although I don't think the NHS would actually use Ethereum. I'm pretty sure they will use some form of Blockchain network designed by someone like IBM, who are doing big things with Blockchain.

Like IBM's partner, Stellar Lumens for example?

Chrysalis

I brought PC GPU mining equipment which including the supporting equipment cost me £950.

I have so far made from that about £600 in 4 months, if coins hold their value this is easily going to be profitable, bearing in mind I still own the equipment as assets as well which ironically have gone up in value.

I also spent some money on bitcoins in early sept directly during a dip and then made a couple of thousand profit from it. I could have made much larger investments but didnt have the courage to do it.

One guy on another forum recently posted he has made 30k profits from various alt coins.

greenglide

Does that include the cost of the electricity as well since that will significant, won't it?

I assume it only makes money if the price continues to increase?

Chrysalis

The £600 is revenue not net profit after electricity costs. (This also includes first 3 months of way lower revenue than the current), right now at current value its set to make over £300 a month.

I tuned the GPUs its pulling about 170 watts 24/7.

It would have made money still at the august and even September value, it just would have took "longer".

Anone thinking about coming into this now tho I Consider it risky.

GPUs although even highly priced last august, now cost even more, DDR memory has also never been so expensive.

Bitcoin and ethereum have both crashed before and recovered every time, there will be more crashes, the question is will those crashes always be recovered from.

I consider bitcoin as its been around for a quite a while a reasonably sound investment, it seems like houses where it has overall growth but short term dips, the other coins are more risky, if you outright buying coins. I would maybe consider buying some coins if we get another dip of at least 30% from the current value. The two key things are, only spend money you can afford to be without, and be prepared to be mentally strong on a crash, the key is to hold out for a recovery and dont panic sell.

A GPU investment sort of requires a longer term play tho and I dont know how long GPU mining will be viable for.

planteria

Chrysalis wrote: »

I would maybe consider buying some coins if we get another dip of at least 30% from the current value.

XBT is down over half of that in the last 24hrs..

Theta101

Like IBM's partner, Stellar Lumens for example?

Yes could be.

All the big (and little) software companies are working flat out to embrace Blockchain in some way.
Imagine an email application that is Spam free or Web sites without annoying adverts!
Blockchain needs the first 'Killer' Application like email/spreadsheet was to the Internet for the masses.
Anyone investing in companies like IBM or Apple or Google or Tesla is investing in Blockchain.

sstjc

Theta101 wrote: »

Yes could be.

All the big (and little) software companies are working flat out to embrace Blockchain in some way.
Imagine an email application that is Spam free or Web sites without annoying adverts!
Blockchain needs the first 'Killer' Application like email/spreadsheet was to the Internet for the masses.
Anyone investing in companies like IBM or Apple or Google or Tesla is investing in Blockchain.

I'm not convinced blockchain is the utopia everyone thinks. Once its use is widespread surely the hackers, spammers and advertisers will muscle in and find a way to exploit it. I seem to remember the internet being hailed in a similar way until people realised it could be exploited.

BananaRepublic

The problem with blockchain is that it is a solution looking for a problem. In the dot com boom any company linked to the internet saw its price soar, irrespective of the underlying specifics. And of course an awful lot of those companies were not especially profitable or competitive. It's now the same with blockchain. People are not asking basic questions such as "How will this technology improve this companies efficiency and profitability, do they have a credible business model etc". Instead it is a rather childish "Ooooh blockchain, nice, I'll buy some".

Chrysalis

crash happening right now

https://www.inverse.com/article/40218-bitcoin-ethereum-ripple-others-crashing

So I will probably buy some more bitcoins (or maybe an alt coin) when I feel its bottoming out.

Personally I think direct trading is better than mining, the problem with mining is you cannot react to events e.g. it takes me about 10 days to get 0.1 eth, I got my latest 0.1 eth this morning 24 hours after it crashed 30% in value. Whilst trading is instant on digital exchanges so if I was trading held assets, after the first signs of a crash I could sell. I sold it as a value of nearly 900usd is still very good for eth on the historical average. But i did consider holding it and waiting for the next spike.

Eco_Miser

Theta101 wrote: »

Imagine an email application that is Spam free or Web sites without annoying adverts!

I don't need to imagine, I can just remember.
But since adverts are what pays for most of the free content on the web, they're not going to go away.
As for spam, how is a blockchain going to stop a botnet spewing the stuff out?

Theta101 wrote: »

Blockchain needs the first 'Killer' Application like email/spreadsheet was to the Internet for the masses.

VisiCalc was a killer application long before the Internet was a thing for the masses.