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      11-25-2021, 09:37 AM   #23
yusko
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Quote:
Originally Posted by DrFerry View Post
BTC is up over >8000% since 2013, just wondering how your mining rig endeavor worked out?
If this guy kept mining since 2013, right now he is too rich and too busy to reply to us
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      11-25-2021, 09:40 AM   #24
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Quote:
Originally Posted by yusko View Post
Quote:
Originally Posted by DrFerry View Post
BTC is up over >8000% since 2013, just wondering how your mining rig endeavor worked out?
If this guy kept mining since 2013, right now he is too rich and too busy to reply to us
He's still active on the Forms according to his Profile account recent posts. But that's probably between champagne foot paths, and lap dances among other things.
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      11-26-2021, 08:28 AM   #25
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A couple of charts below - for the chart driven data lovers amongst us. I'll just leave these here for anyone unfamiliar with the subject, and who might be interested to learn more.
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      12-01-2021, 05:05 PM   #26
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I am interested too. Are we invited to OPs super yacht party? ))
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      12-01-2021, 05:23 PM   #27
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Originally Posted by Kolyan2k View Post
I am interested too. Are we invited to OPs super yacht party? ))
I guess you'd have to ask the O.P. I've messaged him (PM) since he's still on the forums and posting - just not in this thread anymore. Maybe he keeps higher profile company these days after mining BTC since 2013!
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      11-30-2023, 02:28 PM   #28
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Quote:
Originally Posted by Brooklyn Mark View Post
bitcoin is crashing and its getting harder to mine everyday. Pretty soon you will be paying more for electricity than you actually profit from mining. But I manage to make money through otc crypto trading, a very interesting way bypassing the exchanges.
I understand your concerns about the profitability of Bitcoin mining. It is true that the difficulty of mining Bitcoin has increased significantly in recent years, and this has made it more expensive. As a result, many miners are now struggling to make a profit.

There are several reasons why the difficulty of mining Bitcoin has increased. First, the number of people mining Bitcoin has increased dramatically in recent years. This means that competition for rewards increases, making it more difficult to mine a block.

Second, Bitcoin's algorithm is designed to automatically adjust mining difficulty as the network's overall hash rate increases. This is done to ensure that the average time required to mine a block remains around 10 minutes.

As a result of these factors, the profitability of Bitcoin mining has decreased significantly. In fact, some estimates suggest that it is now only profitable to mine Bitcoin if you have access to very cheap electricity.
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      11-30-2023, 05:40 PM   #29
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Originally Posted by Antene View Post
I understand your concerns about the profitability of Bitcoin mining. It is true that the difficulty of mining Bitcoin has increased significantly in recent years, and this has made it more expensive. As a result, many miners are now struggling to make a profit.

There are several reasons why the difficulty of mining Bitcoin has increased. First, the number of people mining Bitcoin has increased dramatically in recent years. This means that competition for rewards increases, making it more difficult to mine a block.

Second, Bitcoin's algorithm is designed to automatically adjust mining difficulty as the network's overall hash rate increases. This is done to ensure that the average time required to mine a block remains around 10 minutes.

As a result of these factors, the profitability of Bitcoin mining has decreased significantly. In fact, some estimates suggest that it is now only profitable to mine Bitcoin if you have access to very cheap electricity.
Other than the upcoming “halving” what you describe is yet another mechanism to increase scarcity. As supply of BTC dwindles (for many reasons other than those mentioned here) the price of BTC will also increase. As this happens (and it has already begun) the profitability of mining BTC will vastly improve. BlackRock will be approved for their spot BTC ETF in 1Q 2024 IMO and this event will usher in a new period of institutional interest in BTC not to mention pension funds and hedge funds wanting to ride the growth wave. Own BTC in your portfolio or be left behind.
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      11-30-2023, 06:17 PM   #30
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Quote:
Originally Posted by DrFerry View Post
Other than the upcoming “halving” what you describe is yet another mechanism to increase scarcity. As supply of BTC dwindles (for many reasons other than those mentioned here) the price of BTC will also increase. As this happens (and it has already begun) the profitability of mining BTC will vastly improve. BlackRock will be approved for their spot BTC ETF in 1Q 2024 IMO and this event will usher in a new period of institutional interest in BTC not to mention pension funds and hedge funds wanting to ride the growth wave. Own BTC in your portfolio or be left behind.
.
Are you holding BTC directly or via ETFs? Been burned in the past with malware or something siphoning bitcoin during transfer to a offline wallet. Since bought into ETFs and looks like there more change there soon.
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      11-30-2023, 06:23 PM   #31
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Originally Posted by DRLane View Post
Are you holding BTC directly or via ETFs? Been burned in the past with malware or something siphoning bitcoin during transfer to a digital wallet. Since bought into ETFs and looks like there more change there soon.
Been holding directly off the exchange(s). No spot price BTC ETFs exist yet. Grayscale Bitcoin Trust exists but investors in GBTC only hold shares while Grayscale holds the actual BTC. Not a fan but might buy in before EOY before the next cycle BTC liftoff.
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      12-01-2023, 12:32 PM   #32
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Holy thread resurrection Batman. OP, i'd like an invite to the yacht party
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      12-09-2023, 09:53 PM   #33
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Just a quick follow up to the above. Think about what's shown in the list below. BTC's market cap is in the top 10 but has a long way to grow to equal the market cap of GLD. Once the BlackRock et al spot ETFs are approved in 1Q 2024, institutional flows will follow. Quite possibly money will flow from metals and equities into BTC/ETH.
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