Hey Sup Forums
Crypto-noob here, is it too late to join the crypto game ? I dont have the funds to join the 15,000$ BTC club but there are other crypto-currencies that do exist.
How do I get into this game Sup Forums ? Can we have a /crypto/ thread ?
Other urls found in this thread:
Why all the crypto posts on Sup Forums lately? There's more people begging for Bitcoin here than there are panhandlers on the streets.
I bought $5 worth of Litecoin today. I've lost a $1.50 on it so far
Cryptocurrencies *somehow* managed to make Sup Forums noticeably shittier.
If you dont have money to not look at as an investment then you dont have time to play
I am not begging for BTC, I want to get in the game. I read about mining BTC but that was over in the 2013 era already. Cant do that at all. All that can be done now is "investment" in the BTC.
What about the other bitcoin currencies ?
What really caused the BTC to explode like this though ?
No, it's not too late, but you are going to have a much harder time doubling, tripling etc. your investment. Litecoin is overpriced. You had a chance at sub $100. Your only chances are in coins such as FTC, PPC, MIOTA, OMG. I'd keep an eye on PPC and FTC. PPC has been around about as long as Litecoin and is just as viable a currency as Bitcoin. FTC is undervalued and based on Litecoin, but it is better to use.
How can cryptocurrencies have "market" caps ?
It's based on the current supply and price. If there's 100% of a coin mined then there's a limit to the supply, but price should reflect that so 100 coins max with a value of $100 is a market cap of $10000 market caps vary on coins that aren't completely mined like Bitcoin.
I have a decent GPU, can I join a blockchain and start mining ? If I can atleast make enough to cash out the cost of my GPU (as an experiment), I'd call it a win.
Help me with this brother.
you're retarded. Crypto is about to crash. like in the next two months everything's gonna crash like it's the dot com bubble. I'm an investor and I even made some speculative investment off of a Bitcoin trust fund and I'm also an engineer so I'm quick to understanding new tech. Cyrptocurrency is in a massive bubble, investing in it now is pure stupidity (or simply lack of understanding).
Let me ask a real question :
Is BTC a safe way to keep my "tax-free" dollars ?
You won't make back the cost of your GPU. There's too much competition from people with deep pockets. I used to mine Bitcoin with a GPU back in 2012 then moved onto scrypt coins when Asics made it impossible to mine Bitcoin. It got more difficult over the years to the point where I wasn't making a profit anymore because you are outclassed.
I just don't understand the currency of something not backed by a government or by inherent value. I understand how the dollar is valuable and silver but can someone explain to an economic retard how bitcoin is valuable.
Mining with a retail GPU died years ago. Sorry, user.
So its too late to make any "easy" money off of any cryptocurrency ?
investing.com
There are tons of cryptocurrencies out there.
>something not backed by a government or by inherent value
The word you are looking for is a bank. Anything "backed" also read "regulated" by a bank isnt really free.
Dollar has no real value muh nigga. Its literally there by the power of the Fed.
Bitcoin is off the book method for performing transactions.
Shame really. So there is no way to make any sweet dollar out of BTC.
Mining with ONE retail GPU ended a few years ago. Nowadays you have people with $10,000 worth of GPUs mining.
Ok, so it's like this. Crypto isn't a new thing anymore. In the beginning, it was just a handful of people mining Bitcoin with their own computers. Next came the people buying GPUs in bulk. Next came the ASICs making it impossible to mine Bitcoin unless you have big pockets. Now we end up with the average person cannot mine anymore because the same people who bought GPUs in bulk are still doing it. Understand? You are outclassed. Unless you need a heater for your home this winter, you will not make anything significant. If it costs more to heat your home or room mining than running the furnace, then it's not worth it.
No shit, user. It goes without saying that if you have a fucking cluster of eight hundred GPUs, you're going to be able to make waves.
I'd say that you could yes, but you still have competition since everyone knows about crypto now.
What is the next big thing that I can invest my time and resources into now - I dont care if its a bubble in the long run, I need some cash flow - I am really tight.
>What really caused the BTC to explode like this though ?
A combination of sheer dumb luck and the fact that it was the first cryptocurrency to hit the public eye. It just happened to pick up enough steam early on to get huge.
...
So when does this bubble pop ?