Until when? | Bitcointalksearch.org

CryptoATM

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Activity: 368

Merit: 15

Quote from: philipma1957 on May 05, 2021, 01:50:29 PM

Quote from: deskless on May 05, 2021, 07:17:45 AM

Quote from: Metroid on May 05, 2021, 06:39:33 AM

I just got a new price for the 3060 12gb --> 1499 usd, welcome to dementia gentlemen hehe

I am confused as to when to start selling the GPUs

For 580 GPU, currently one could get $450

After paying to ebay/Paypal (12%) we are left with 396

Then paying to IRS with 35% left with $257

sell every older card you have.

only keep nvidia 3000
and amd 5000/6000 cards.

once you sell every older card. send in an upfront tax payment to irs and your state.

ie 4500 in sales of old cards means 3960 after ebay/paypal fees.

and 2570 after taxes maybe 2300 due to state tax.

take that 2300 or 2570 and put ⅓ into the bank ⅓ into btc ⅓ into cash for buying btc if there is a strong drop in price.

And here I am still storing some gtx1660s, I guess I'm doing the wrong thing, yesterday I nearly make up my mind to sell these cards and build a server with 100tb for chia farming but I still don't have the nerve, I believe that GPU mining is just way better

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: deskless on May 05, 2021, 07:17:45 AM

Quote from: Metroid on May 05, 2021, 06:39:33 AM

I just got a new price for the 3060 12gb --> 1499 usd, welcome to dementia gentlemen hehe

I am confused as to when to start selling the GPUs

For 580 GPU, currently one could get $450

After paying to ebay/Paypal (12%) we are left with 396

Then paying to IRS with 35% left with $257

sell every older card you have.

only keep nvidia 3000
and amd 5000/6000 cards.

once you sell every older card. send in an upfront tax payment to irs and your state.

ie 4500 in sales of old cards means 3960 after ebay/paypal fees.

and 2570 after taxes maybe 2300 due to state tax.

take that 2300 or 2570 and put ⅓ into the bank ⅓ into btc ⅓ into cash for buying btc if there is a strong drop in price.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: deskless on May 05, 2021, 07:17:45 AM

I am confused as to when to start selling the GPUs

For 580 GPU, currently one could get $450

After paying to ebay/Paypal (12%) we are left with 396

Then paying to IRS with 35% left with $257

Not sure where you are but where I live, shops are selling the rx 580 for 800 usd, before this bs, the same rx 580 was sold for 100 usd. Yeah need to account for taxes too.

deskless

jr. member

Activity: 279

Merit: 1

Quote from: Metroid on May 05, 2021, 06:39:33 AM

I just got a new price for the 3060 12gb --> 1499 usd, welcome to dementia gentlemen hehe

I am confused as to when to start selling the GPUs

For 580 GPU, currently one could get $450

After paying to ebay/Paypal (12%) we are left with 396

Then paying to IRS with 35% left with $257

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

I just got a new price for the 3060 12gb --> 1499 usd, welcome to dementia gentlemen hehe

arielbit

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Activity: 3444

Merit: 1061

Quote from: philipma1957 on May 04, 2021, 09:59:44 AM

Quote from: HashingTower on April 18, 2021, 12:41:57 AM

I think we are already in bear market, hours ago bitcoin and Ethereum sinks in the pool of blood, it's been a long time since these coins bleed like this

ETH - from 2485 to 1946
BTC - from 61,000 to 51680

I was holding ETH and I've already lost 200$ in this huge retrace, sigh

eth is over 3300 as i type.

Now the market is fucking with all of us hehe...

A 2.5x from the previous market cycle top feels like not so top. Anyway 3k and above is when people should start to make a plan for exit strategy or consider priorities like paying loans instead of being too greedy.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: HashingTower on April 18, 2021, 12:41:57 AM

I think we are already in bear market, hours ago bitcoin and Ethereum sinks in the pool of blood, it's been a long time since these coins bleed like this

ETH - from 2485 to 1946
BTC - from 61,000 to 51680

I was holding ETH and I've already lost 200$ in this huge retrace, sigh

eth is over 3300 as i type.

deskless

jr. member

Activity: 279

Merit: 1

Quote from: Metroid on May 04, 2021, 09:12:11 AM

Quote from: TheMimic1 on May 04, 2021, 09:03:00 AM

You holding your ETH all this while? But you keep talking about market crash almost everytime 🤣🤣🤣 it seems you are deceiving everyone in this space all this while lol, I pity all those that makes any decisions based on your warnings haha

20% I still have, I sold already 80%. I always hold 20% for absolute top. Those 20% eth I have are the ones that I'm willing to lose. I say crash because eth at this price is a huge red flag, last year it was 80 usd.

I think this is the right attitude. Keeps a percentage for the top as long as you are ok losing it. No one knows how long it will last. The reduction of block rewards for last few weeks is concerning though.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: TheMimic1 on May 04, 2021, 09:03:00 AM

You holding your ETH all this while? But you keep talking about market crash almost everytime 🤣🤣🤣 it seems you are deceiving everyone in this space all this while lol, I pity all those that makes any decisions based on your warnings haha

20% I still have, I sold already 80%. I always hold 20% for absolute top. Those 20% eth I have are the ones that I'm willing to lose. I say crash because eth at this price is a huge red flag, last year it was 80 usd.

TheMimic1

member

Activity: 252

Merit: 13

Quote from: Metroid on May 04, 2021, 08:38:01 AM

Quote from: deskless on May 04, 2021, 08:31:55 AM

Seem mostly deep pocked people must be buying at this price of ETH. May be they see something that we don't see.

Usually those people are deep in this manipulation but there is limit to how much they can manipulate the market. This is very close to the top, if not the top already. I will wait a little bit more if eth can reach close to 5k usd then i willl sell all my remaining eth and get 50x profit, coming from 100 usd eth.

You holding your ETH all this while? But you keep talking about market crash almost everytime 🤣🤣🤣 it seems you are deceiving everyone in this space all this while lol, I pity all those that makes any decisions based on your warnings haha

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: deskless on May 04, 2021, 08:31:55 AM

Seem mostly deep pocked people must be buying at this price of ETH. May be they see something that we don't see.

Usually those people are deep in this manipulation but there is limit to how much they can manipulate the market. This is very close to the top, if not the top already. I will wait a little bit more if eth can reach close to 5k usd then i willl sell all my remaining eth and get 50x profit, coming from 100 usd eth.

deskless

jr. member

Activity: 279

Merit: 1

Seem mostly deep pocked people must be buying at this price of ETH. May be they see something that we don't see.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: adaseb on May 03, 2021, 11:19:36 PM

The profits are about the same as they were for the past few months. Sure the block rewards are lower but the price is higher. So no reason to panic yet. The issue now is why so many people are paying these crazy prices for GPUs. In my craiglist area there are tons of GPUs for almost $2K and tons of mining rigs selling in the $10-15K range. And the ads get updated which means that eventually someone must of bought them.

You need to realise that buying a GPU for $2000 and overpaying by $1000 markup is not the same as buying an iPhone at launch from a scalper or buying some new sport cars at huge dealer markup. Usually those people have money and they know they are over paying. However people which start mining, see that a GPU is $2000 and they go to a calculator and see that it makes like $5/day and they assume that it will pay off in about a year and the following year will be pure profit. However mining and difficulty doesn't work that way and I see alot of people getting burnt who are taking out loans to buy all these expensive GPUs.

The bullrun attract new idiots. I don't think the ones buying gpus 4x more than msrp are people who got burnt in 2018, same thing with cryptocoins buying, only idiots are buying right now at top. This bullrun will make a lot of new suckers, right now they are called investors ehhe, soon will be called suckers.

adaseb

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Activity: 3808

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The profits are about the same as they were for the past few months. Sure the block rewards are lower but the price is higher. So no reason to panic yet. The issue now is why so many people are paying these crazy prices for GPUs. In my craiglist area there are tons of GPUs for almost $2K and tons of mining rigs selling in the $10-15K range. And the ads get updated which means that eventually someone must of bought them.

You need to realise that buying a GPU for $2000 and overpaying by $1000 markup is not the same as buying an iPhone at launch from a scalper or buying some new sport cars at huge dealer markup. Usually those people have money and they know they are over paying. However people which start mining, see that a GPU is $2000 and they go to a calculator and see that it makes like $5/day and they assume that it will pay off in about a year and the following year will be pure profit. However mining and difficulty doesn't work that way and I see alot of people getting burnt who are taking out loans to buy all these expensive GPUs.

deskless

jr. member

Activity: 279

Merit: 1

this market is not stopping. Eth income has really reduced now Sad

arielbit

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Merit: 1061

Quote from: arielbit on April 14, 2021, 12:56:54 PM

Quote from: Metroid on April 14, 2021, 08:41:49 AM

--snip--
they can crash this market 50%
--snip--

this can be played in a 6 month trap.

if we peak July to August, maybe the trap can be played at the end of 2021 - early 2022 --- imagine putting your money back at the end of the year thinking it recovered from July-august and the bull run is continuing to 2023? LOL @ future REKTards

6 months is a psychological shift--> it can convince you the market is still "okay"...happened in the 10k to 6k BTC drop, i think it is around a 6 month area before a flash crash, no matter how good of a trader you are, that can catch you Grin

bull or bear....always watch out for a flash crash...another one bites the dust! REKT

how many had a psychological shift the past 6 months who got REKT'd?

batsonxl

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Activity: 1201

Merit: 26

Quote from: HashingTower on April 18, 2021, 12:41:57 AM

I think we are already in bear market, hours ago bitcoin and Ethereum sinks in the pool of blood, it's been a long time since these coins bleed like this

ETH - from 2485 to 1946
BTC - from 61,000 to 51680

I was holding ETH and I've already lost 200$ in this huge retrace, sigh

Yeah it was very scary but maybe it was trap. i had eth too and set limit at 2.3k and it has been sold at that price. they break record i think many holders coins sold today.

batsonxl

member

Activity: 1201

Merit: 26

Quote from: Metroid on April 17, 2021, 09:01:50 PM

New level of irrationality, new 3070 prices just in and guess what, resellers want 1800 usd for the ones with dual coolers and 2100 usd for the good coolers ehhe, a new breakthrough on stupidity, in December 2020 it was 600 usd where I live. This is the 3070, msrp 499 hehe, they all sold their 3090 for 4000 usd and 3080 at 3000 usd.

Yeah money to be made on stupidity, chinese factories welcome the madness, bull run = more money than sense, bear run = more sense than money ehhe

People buy that?

HashingTower

member

Activity: 285

Merit: 11

$CYBERCASH METAVERSE

I think we are already in bear market, hours ago bitcoin and Ethereum sinks in the pool of blood, it's been a long time since these coins bleed like this

ETH - from 2485 to 1946
BTC - from 61,000 to 51680

I was holding ETH and I've already lost 200$ in this huge retrace, sigh

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

New level of irrationality, new 3070 prices just in and guess what, resellers want 1800 usd for the ones with dual coolers and 2100 usd for the good coolers ehhe, a new breakthrough on stupidity, in December 2020 it was 600 usd where I live. This is the 3070, msrp 499 hehe, they all sold their 3090 for 4000 usd and 3080 at 3000 usd.

Yeah money to be made on stupidity, chinese factories welcome the madness, bull run = more money than sense, bear run = more sense than money ehhe

Topic: Until when? (Read 697 times)