Topic: Number 9! Ninth altcoin thread. Back to the moon Baby! - page 49. (Read 66416 times)
well we have a little panic, some liquidation, 10% total out of defi, 20% pulled out of lending. Driving fees through the roof, mining is now really killing it. Btc will probably jump back up over our ATH (i hope) then we can sell that extra BTC each gpu is getting. the fees...https://etherscan.io/gastracker
My hedge started working nicely now. Now I have a nice 1.1 btc short with a 54,000 basis and a stop at 53,500, collecting interest also, hopefully around 0.25% a day.
At this point my play is to be short until the market strengthens, trying to trade this as a hedge and letting it run. If things still look weak tomorrow I'll have to set price points of where to sell more short, being careful not to let my position turn negative. If I get stopped out all the better my mining profits will make up for it.
Perfect example of wny I retired from 20 years of trading and started mning back in 2016. I went from a $4,000k gain to $500 profit.
At this point my play is to be short until the market strengthens, trying to trade this as a hedge and letting it run. If things still look weak tomorrow I'll have to set price points of where to sell more short, being careful not to let my position turn negative. If I get stopped out all the better my mining profits will make up for it.
Perfect example of wny I retired from 20 years of trading and started mning back in 2016. I went from a $4,000k gain to $500 profit.
If you want to hedge a position for a few weeks or so you should just sell the futures instead and not the perps. Reason why is because the funding rate is dynamic. It was around 0.25% a day however after todays dump it seems to have been flat at 0.01% every 8 hours. If the sell off is going to continue most likely the funding will turn negative where shorts will pay longs and you might lose 0.25% day in funding.
I had this happen last February 2020 where the funding rate was high like 0.25% a day, and the futures were like 5% for June 2020. Since the funding would of paid more than the June 2020 futures I stayed in the perps. Then all hell broke lose due to covid and I ended up losing -1% per day due to funding. And if I stayed in the June 2020 futures, I would of made like 20% extra because the premium was 5% but when BTC crashed down to $3K there was a massive discount of like 15%, so if you were short you would of gotten an extra 20%.
I spaced out doing the shuffle today, oh well.
I got picked for the 5900x processor. I'm on the fence about it.
I like to make my card tally public since eventually I sell the cards.
I just lower the cost value by the mining earnings although these cards may all have a $0 cost value when I sell them.
I just lower the cost value by the mining earnings although these cards may all have a $0 cost value when I sell them.
I'm pretty sure by the time you're ready to sell any of these cards the cost value will be $0. Some 5700 XT I bought back in November are just about there. My first 3000 series card wasn't purchased until Jan of this year so those still have some time to break even. I'm definitely slowing down with them though after seeing that post with those 100 asics up and running on eth.
I spaced out doing the shuffle today, oh well.
I like to make my card tally public since eventually I sell the cards.
I just lower the cost value by the mining earnings although these cards may all have a $0 cost value when I sell them.
I just lower the cost value by the mining earnings although these cards may all have a $0 cost value when I sell them.
I'm pretty sure by the time you're ready to sell any of these cards the cost value will be $0. Some 5700 XT I bought back in November are just about there. My first 3000 series card wasn't purchased until Jan of this year so those still have some time to break even. I'm definitely slowing down with them though after seeing that post with those 100 asics up and running on eth.
https://www.youtube.com/watch?v=d2DL5iGFskI
It says you can still mine in full (~28 Mhs) with a 4Gb card Ethereum (ETH) if you insert it into the x16 slot on the Mobo. I guess only on the first slot.... DAG is loaded into the RAM? What do you guys think?
It says you can still mine in full (~28 Mhs) with a 4Gb card Ethereum (ETH) if you insert it into the x16 slot on the Mobo. I guess only on the first slot.... DAG is loaded into the RAM? What do you guys think?
It works. But yeah, need a board with the bandwidth. And you need to use lolminer.
https://www.youtube.com/watch?v=d2DL5iGFskI
It says you can still mine in full (~28 Mhs) with a 4Gb card Ethereum (ETH) if you insert it into the x16 slot on the Mobo. I guess only on the first slot.... DAG is loaded into the RAM? What do you guys think?
It says you can still mine in full (~28 Mhs) with a 4Gb card Ethereum (ETH) if you insert it into the x16 slot on the Mobo. I guess only on the first slot.... DAG is loaded into the RAM? What do you guys think?
I had sold about 5000usd worth at 58000
I grabbed back a piece of it at 49000
I grabbed back a piece of it at 49000
My hedge started working nicely now. Now I have a nice 1.1 btc short with a 54,000 basis and a stop at 53,500, collecting interest also, hopefully around 0.25% a day.
At this point my play is to be short until the market strengthens, trying to trade this as a hedge and letting it run. If things still look weak tomorrow I'll have to set price points of where to sell more short, being careful not to let my position turn negative. If I get stopped out all the better my mining profits will make up for it.
Perfect example of wny I retired from 20 years of trading and started mning back in 2016. I went from a $4,000k gain to $500 profit.
At this point my play is to be short until the market strengthens, trying to trade this as a hedge and letting it run. If things still look weak tomorrow I'll have to set price points of where to sell more short, being careful not to let my position turn negative. If I get stopped out all the better my mining profits will make up for it.
Perfect example of wny I retired from 20 years of trading and started mning back in 2016. I went from a $4,000k gain to $500 profit.
Not to worry. Block rewards are through the roof 
This is the largest one I've seen:
https://ibb.co/WVw1Hzh
This is the largest one I've seen:
https://ibb.co/WVw1Hzh
so 276gh for 1 account the whole pool is about 600gh the network is 400,000 + gh. https://etherscan.io/chart/hashrate
so 276/400,000 is not too bad
eth had a solid drop 1950 to 1750
11.7 cents an mh down to 10.9 cents an mh
I sold a 1070 for 400cad today, sold in about 1 hour. Feel like thats pretty crazy considering its a 4 year? old card. time goes by fast. Another thing I was thinking about is the whole defi loan thing. Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse. The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
Yeah I sold a bunch of RX 470 4GB (so not for mining) and in a day I could sell up to 3 of them pretty much. No lowballers even. Just people sent a message saying "Is it still available if so I want to pick it up right away". Compare this to 2019 when it took maybe a month to sell 1 GPU and usually everyday I would get messages like "I know you mined with this GPU, I will give you $30 CASH.... TODAY!".
Regarding DeFI, this already happened before in 2018 with that MakerDAO (or something similar). Basically there were no liquidations when price was >$700 or so. So most people who issued loans in the $1000-$1400 were prepared to add extra collateral so they wouldn't get liquidated. The mess started right after Bitmex listed the ETH perp future contracts and massive selling started. And when price kept going lower and lower and lower, you could see the MakerDAO loans getting liquidated. They had the liquidation price public listed somewhere on their website and the whales make sure to liquidate as many people as possible because they knew they wouldn't be able to provide the collateral.
So this time its no different. As long as ETH stays high and doesn't go below say $900 or so. Most loans will be fine. However nobody knows what will happen.
Depends on how many keep buying Eth. I never was a big fan of the coin.
@ generalt
I like to make my card tally public since eventually I sell the cards.
I just lower the cost value by the mining earnings although these cards may all have a $0 cost value when I sell them.
I sold a 1070 for 400cad today, sold in about 1 hour. Feel like thats pretty crazy considering its a 4 year? old card. time goes by fast. Another thing I was thinking about is the whole defi loan thing. Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse. The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
Yeah I sold a bunch of RX 470 4GB (so not for mining) and in a day I could sell up to 3 of them pretty much. No lowballers even. Just people sent a message saying "Is it still available if so I want to pick it up right away". Compare this to 2019 when it took maybe a month to sell 1 GPU and usually everyday I would get messages like "I know you mined with this GPU, I will give you $30 CASH.... TODAY!".
Regarding DeFI, this already happened before in 2018 with that MakerDAO (or something similar). Basically there were no liquidations when price was >$700 or so. So most people who issued loans in the $1000-$1400 were prepared to add extra collateral so they wouldn't get liquidated. The mess started right after Bitmex listed the ETH perp future contracts and massive selling started. And when price kept going lower and lower and lower, you could see the MakerDAO loans getting liquidated. They had the liquidation price public listed somewhere on their website and the whales make sure to liquidate as many people as possible because they knew they wouldn't be able to provide the collateral.
So this time its no different. As long as ETH stays high and doesn't go below say $900 or so. Most loans will be fine. However nobody knows what will happen.
My 1080ti's are whaling on eth!
damn 9 cards are pulling in over 20 usd a day
https://etherscan.io/chart/etherpricedamn 9 cards are pulling in over 20 usd a day
The beginning of the run. July 31st we are 7 months in.
July 18 we were at 235
July 31 we were at 335
Aug 31 we were at 429
Sept 30 we were at 370 pull back
OCT 31 we were at 396
Nov 30 we were at 598
Dec 31 we were at 730
Jan 31 we were at 1374
Feb 21 we are at 1935
At fr4ankthetank. All speculation but If I was loaded up with silver and gold. (I am not). I would shift some to BTC and LTC/Doge
Really interesting. Probably looking at two decades or three down the line, then some more time to actually park it in a stable orbit and mine it. Happy my Central Bank holds no precious metals (although they mint them for buyers and make amazing coins). A kg polar bear gold coin is nice to have even if it'll be worthless in 50 years if this happens. 
thank you mr generalt
I think we may be peaking.
checking the 2018 slide it lasted a long time.
if we start to slide I did not over extend. So I need to just wait for the shipments to show up.
and hope for newegg shuffle to hit again.
I think we may be peaking.
checking the 2018 slide it lasted a long time.
if we start to slide I did not over extend. So I need to just wait for the shipments to show up.
and hope for newegg shuffle to hit again.
I think the gpu list is :
13x 5500xt........................mining
16x 5600xt........................mining
15x 5700xt........................mining all amd have paid off
1x 6800xt back order ..........1100
1x 3090..............mining this has earned 240 after power cost was 2070
1x 3090..............shipped 1960 cost zero back
3x 3080..............mining. these have mined 90 days 88 days 82 days earned 2717 power about 200 profit 2517 I PAID 2500 FOR THE 3 SO THEY ARE FREE AND CLEAR
2x 3070..............mining 1700 17 and 10 days earned 162 power 12 so 150 back
1x 3060ti............mining this has earned 528 power cost 53 net 475 I paid 512 for it it will be free and clear in 6 or 7 days
2x 3060ti............shipped 1850 cost zero back
2x omen pc with 3070 ............waiting for shipping. cost 2600 zero back
13x 5500xt........................mining
16x 5600xt........................mining
15x 5700xt........................mining all amd have paid off
1x 6800xt back order ..........1100
1x 3090..............mining this has earned 240 after power cost was 2070
1x 3090..............shipped 1960 cost zero back
3x 3080..............mining. these have mined 90 days 88 days 82 days earned 2717 power about 200 profit 2517 I PAID 2500 FOR THE 3 SO THEY ARE FREE AND CLEAR
2x 3070..............mining 1700 17 and 10 days earned 162 power 12 so 150 back
1x 3060ti............mining this has earned 528 power cost 53 net 475 I paid 512 for it it will be free and clear in 6 or 7 days
2x 3060ti............shipped 1850 cost zero back
2x omen pc with 3070 ............waiting for shipping. cost 2600 zero back
The accountant in you really shines. I really should do this for my cards as well and I only have about 15 cards mixed 5700 amd/3000 nvidia series
I sold a 1070 for 400cad today, sold in about 1 hour. Feel like thats pretty crazy considering its a 4 year? old card. time goes by fast. Another thing I was thinking about is the whole defi loan thing. Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse. The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
I think some people are literally betting that asteroid mining will alter precious metal values bigly.
Gold cap = 11 trillion
Silver cap = 1.46 trillion
so 12.46 trillion in them as wealth storage
BTC cap = 1.1 trillion
ETH cap = 0.219 trillion
If you believe that asteroid mining will work way better than Earth mining you lose some faith in both gold and silver.
If you have large holdings where to sink some.
Hedge your wealth on BTC and ETH.
https://www.foxnews.com/science/nasa-headed-towards-giant-golden-asteroid-that-could-make-everyone-on-earth-a-billionaire
If this is true then gold will be common. Makes you think what to do with 11 trillion of market wealth.
I sold a 1070 for 400cad today, sold in about 1 hour. Feel like thats pretty crazy considering its a 4 year? old card. time goes by fast. Another thing I was thinking about is the whole defi loan thing. Right now there is about 8 billion outstanding loans, and 40 billion locked in the defi system according to Defi Pulse. The way this usually works is that you have lets say this situation:
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
-1BTC or equivalent of shitcoin sent as collateral
-Borrow 0.5 bitcoin or equivalent of shitcoin lets say. 50% loan to value ratio. If the LTV ratio drops to a number, they will ask you to post fake USD or BTC or whatever shitcoin to bring that back down. In a price crash, LTV can change very, very fast. In that event, they will liquidate your collateral to cover the loan. Business as usual, but what about the systemic risk ?
As prices drop, all DEFI systems will margin call borrowers and automatically sell crypto, therefore multiplying the price crash, which will cause more margin calls and more liquidation in a even worse market. And what happens when lenders pull their crypto ? It just seems to me this is an event waiting to happen, a when not an if, and it makes no sense to me that people would design a system to be so fragile. What am I missing
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