Anyone hedge your mining income? - page 2.

lunobird

full member

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Quote from: Xazax310 on March 05, 2019, 02:09:15 PM

Quote from: badbart on February 24, 2019, 07:20:33 PM

For example if your going to make $2,000 this month sell short $2,000 of eth or btc? Your protected on the downside but your upside is locked in at 2k. Of course you would have to manage the trade to make sure it doesn't get out of control.

I've basically been mining anything profitable with the GPUs I have, 1060 3GBs, 1070s, 1070tis and turning whatever coin I mine(CLO, Grin, Beam, Zelcash etc) cash those out for BTC. Then with the BTC i HODL some and put what I can into my favorite coins, RVN and ETH. Personally, I think those will be the few projects with long term viability.

Coins to stay away from would be BTG, ETC, XVG, EXP, maybe some others PoW coins but the lack of develop on those coins plus the 51% attacks (BTC/ETC/XVG) have removed them from my "worth mining" list.

I disagree with you on BTG and ETC. Those are my favorite undervalued coins I mine and at all time bottoms. They are at killer deals, BTG is ran by someone that quit is google job to full time on BTG. BTG and ETC have big brand name recognition and strong purpose.

I like Grin and Beam also but they are also tooo new and they can still lose a lot of value during price discovery. Zelcash seems cool but seems like another project that's good at copying and pasting everyones work like vertcoin. Not a strong trend setter

badbart

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Quote from: BitBustah on March 05, 2019, 01:06:34 PM

Quote from: badbart on February 24, 2019, 07:36:53 PM

I have 80 gpus 1070s , 470s and some z9s and a F1 Blackminer with .049 KHW power been mining for 2 years. I'm not making 2k a month anymore lol more like $1400 before electricity

Do those bots work? I've traded stocks and futures for 20 years and I could never get any type of bot to work.

The bots you see for sale do not really look. If they bots were successful the wouldn't be for sale in the first place as the owner would rather use it himself to make profits. The only ones that are worth anything are private and not for sale.

I bought the cat bot and have been testing it. Its makes trading very easy for me, I set my trade parameters run it and it executes my trade with no human input. I set my entries exits and stops, it executes and removes my emotions from the trade which is a huge plus. I think if you tried to use it as a black box you would get burned.

Xazax310

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Quote from: badbart on February 24, 2019, 07:20:33 PM

For example if your going to make $2,000 this month sell short $2,000 of eth or btc? Your protected on the downside but your upside is locked in at 2k. Of course you would have to manage the trade to make sure it doesn't get out of control.

I've basically been mining anything profitable with the GPUs I have, 1060 3GBs, 1070s, 1070tis and turning whatever coin I mine(CLO, Grin, Beam, Zelcash etc) cash those out for BTC. Then with the BTC i HODL some and put what I can into my favorite coins, RVN and ETH. Personally, I think those will be the few projects with long term viability.

Coins to stay away from would be BTG, ETC, XVG, EXP, maybe some others PoW coins but the lack of develop on those coins plus the 51% attacks (BTC/ETC/XVG) have removed them from my "worth mining" list.

BitBustah

hero member

Activity: 1218

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Quote from: badbart on February 24, 2019, 07:36:53 PM

I have 80 gpus 1070s , 470s and some z9s and a F1 Blackminer with .049 KHW power been mining for 2 years. I'm not making 2k a month anymore lol more like $1400 before electricity

Do those bots work? I've traded stocks and futures for 20 years and I could never get any type of bot to work.

The bots you see for sale do not really look. If they bots were successful the wouldn't be for sale in the first place as the owner would rather use it himself to make profits. The only ones that are worth anything are private and not for sale.

ohwhy

newbie

Activity: 14

Merit: 0

Hobby mining now has become more of a long term investment for me rather than cashing out month-month. It was awesome time when mining could actually supplement some income! haha

Bathmat

jr. member

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Quote from: dragonmike on February 25, 2019, 07:39:41 AM

Nah, unfortunately, since BTC (and most alts) are at rock bottom and profitability is dismal there's not much to hedge, basically! Cheesy

In the more profitable days I used to convert my mined earnings into BTC fairly quickly and square that off for fiat maybe once a month.

Nowadays I'm not converting anything I'm mining into fiat. Just not worth it. And I haven't been since spring 2018...

I'm with you. I haven't converted anything to fiat in months. Basically mining to collect BTC, LTC, ETH, and XMR at this point as a long term investment. I look at it as a dollar-cost-averaging type of strategy.

dragonmike

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Nah, unfortunately, since BTC (and most alts) are at rock bottom and profitability is dismal there's not much to hedge, basically! Cheesy

In the more profitable days I used to convert my mined earnings into BTC fairly quickly and square that off for fiat maybe once a month.

Nowadays I'm not converting anything I'm mining into fiat. Just not worth it. And I haven't been since spring 2018...

peonminer

hero member

Activity: 798

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Crypto is King.

Quote from: badbart on February 24, 2019, 07:36:53 PM

I have 80 gpus 1070s , 470s and some z9s and a F1 Blackminer with .049 KHW power been mining for 2 years. I'm not making 2k a month anymore lol more like $1400 before electricity

Do those bots work? I've traded stocks and futures for 20 years and I could never get any type of bot to work.

Yes. It's a simple ping pong bot. You enter the percent gain and it pings and pongs your orders accordingly. Nothing fancy. I just put buys and sells on each side of the market with a few percent required for gain. As the market moves up and down my orders hit and my bankroll stacks. It's simple and beautiful. If the market runs on an alt you're left with either bitcoin or the altcoin in your wallet. Good for long term and then you can readjust the bot if the market goes stable again. I have it set to just add the gains to the next order so it compounds my alt holdings and then if they all run or decline itll run though my orders so I am left with one or the other. Of course I keep a bankroll of BTC so that I am covered if one or the other falls or rises. It's not a signals bot so it's not faked out with MACD or BBands or anything like that. It just goes on simple numbers of up or down. It's not fancy, but it gets the job done. Hedging with margin sounds hella risky imho. I tried to hedge with margin on ETH back in the day and now I miss my 1100 eth and 7+ BTC that I could have just set up to gain with the market directional movements.

badbart

member

Activity: 449

Merit: 24

I have 80 gpus 1070s , 470s and some z9s and a F1 Blackminer with .049 KHW power been mining for 2 years. I'm not making 2k a month anymore lol more like $1400 before electricity

Do those bots work? I've traded stocks and futures for 20 years and I could never get any type of bot to work.

peonminer

hero member

Activity: 798

Merit: 531

Crypto is King.

Why not use a pingpong bot such as Sampey's CAT bot to hedge by trading the up and down of the market? Set static orders like 10% each way or so to catch a fall or sell into the rise. May I ask what your setup is to be mining that much per month?

badbart

member

Activity: 449

Merit: 24

For example if your going to make $2,000 this month sell short $2,000 of eth or btc? Your protected on the downside but your upside is locked in at 2k. Of course you would have to manage the trade to make sure it doesn't get out of control.

Topic: Anyone hedge your mining income? - page 2. (Read 672 times)