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Crypto Currencies

J_D 2.0

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Okay. Most GPU rigs I've seen make their money back in about 6 months.
The question is do you leave it in or take it out.
If the prices are rising and you stay in the profits will be even greater.
Yeah. I guess having a GPU rig gives you the flexibility to go where the money is and mine whatever crypto is currently cash positive. Of course that’s more a strategy for if your not mining and holding.

If your mining and immediately selling for cash you would swap around to whatever is making the most cashflow at that point in time. If your mining and holding for value appreciation then the immediate return would be less of an issue for you (provided the crypto values go up over time of course).
 

shane_3800

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Yeah. I guess having a GPU rig gives you the flexibility to go where the money is and mine whatever crypto is currently cash positive. Of course that’s more a strategy for if your not mining and holding.

If your mining and immediately selling for cash you would swap around to whatever is making the most cashflow at that point in time. If your mining and holding for value appreciation then the immediate return would be less of an issue for you (provided the crypto values go up over time of course).
I wonder if there's any companies that have trade bots that spread your money out over all the coins. Then the bots will just buy and sell and keep you on the coins that are making good increases.
Then you could just mine whatever is making good money and put that money into the bots to be spread out.
 

shane_3800

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Hey what exchange are you on? I tried joining Binace but every time I go to log in it wants a verification code and I put it in and nothing happens so I deleted that ****.
Is coinbase any good?
 

J_D 2.0

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I’m on CoinSpot. I only just joined so I can’t really speak on how good they are but I know they have been around for ages and they are here in Australia rather than overseas which makes be feel a bit better about security etc.
 

shane_3800

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I’m on CoinSpot. I only just joined so I can’t really speak on how good they are but I know they have been around for ages and they are here in Australia rather than overseas which makes be feel a bit better about security etc.
I might join up coinbase isn't excepting my card and they're meant to support Australia. But they have a message in the help section basically saying they have too many people joining and can't handel all the help requests.
 

shane_3800

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I’m on CoinSpot. I only just joined so I can’t really speak on how good they are but I know they have been around for ages and they are here in Australia rather than overseas which makes be feel a bit better about security etc.
I just found out coinspot is a broker not an exchange.
 

J_D 2.0

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I just found out coinspot is a broker not an exchange.
Yes they are. Works out ok for me so far. There are no minimums you have to invest and you can transfer your crypto to your personal wallet to put in cold storage if you want to.
 

Skydrol

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I use Coinbase but if you join in, take the keys from the exchange in your posesion. You cannot trust the exchanges, anybody remember what happen with the exchange called Mt Gox?
 

Skydrol

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I tried mining but is a costly and daunting task to get set up. The further we go to the cap, the harder is to mine. I say I got late into the game because I thought it was a fad that will fade away on its own. Is a good idea but still uncertain what is going to be right one. I would hate to set up for one coin and become worthless later.

Now Elon Musk is trying to make his own Crypto Coins. Each time a new Crypto comes out, about 1/3 of the total are mined by the creator picking out the easy and low hanging fruit. They ones that takes a shît load of effort are left for all of us.

I rather invest my hard earning cash on what is out there, trade and watch the trend than trying to mine.
 

shane_3800

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I tried mining but is a costly and daunting task to get set up. The further we go to the cap, the harder is to mine. I say I got late into the game because I thought it was a fad that will fade away on its own. Is a good idea but still uncertain what is going to be right one. I would hate to set up for one coin and become worthless later.

Now Elon Musk is trying to make his own Crypto Coins. Each time a new Crypto comes out, about 1/3 of the total are mined by the creator picking out the easy and low hanging fruit. They ones that takes a shît load of effort are left for all of us.

I rather invest my hard earning cash on what is out there, trade and watch the trend than trying to mine.
I tried it 3 years ago. If I had of kept going with ETH I would be quite well off. I had the same thoughts back then as I do now.
I think I'll wait for the next big dip in the market and buy some GPU's for cheap. And buy some cheap coins.
 
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