I thought why invest my money into this crypto mining (Bitcoin, Eth, Litecoin, etc.) when you can buy or invest in the mining equipment and produce the coin yourself! Reading up on it, mining seems literally like growing money on trees or at least it seems like it as long as the bubble doesn't burst. I've seen mining gear as low as $60 and all the way into the 10's of 1,000's of $$$. Any of you out there mining yourself and, if so, what equipment would you recommend to purchase?
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To remove first post, remove entire topic.
I thought why invest my money into this crypto mining (Bitcoin, Eth, Litecoin, etc.) when you can buy or invest in the mining equipment and produce the coin yourself! Reading up on it, mining seems literally like growing money on trees or at least it seems like it as long as the bubble doesn't burst. I've seen mining gear as low as $60 and all the way into the 10's of 1,000's of $$$. Any of you out there mining yourself and, if so, what equipment would you recommend to purchase?
So I've done a lot of research on different machines and like this one the best. Specs say it can mine ETH which is what I was looking to do. Profit calculator comes out to around $7K-$8K per year based on current ETH prices. Any thoughts?
So I've done a lot of research on different machines and like this one the best. Specs say it can mine ETH which is what I was looking to do. Profit calculator comes out to around $7K-$8K per year based on current ETH prices. Any thoughts?
So I've done a lot of research on different machines and like this one the best. Specs say it can mine ETH which is what I was looking to do. Profit calculator comes out to around $7K-$8K per year based on current ETH prices. Any thoughts?
So I've done a lot of research on different machines and like this one the best. Specs say it can mine ETH which is what I was looking to do. Profit calculator comes out to around $7K-$8K per year based on current ETH prices. Any thoughts?
Jimmy, that miner I posted a link for above is not a good one. I have since found out more about it and the hash rate is bad evidently. Please tell me more about this mining bot....
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Jimmy, that miner I posted a link for above is not a good one. I have since found out more about it and the hash rate is bad evidently. Please tell me more about this mining bot....
Jimmy, that miner I posted a link for above is not a good one. I have since found out more about it and the hash rate is bad evidently. Please tell me more about this mining bot....
In doing a little research, I concur on your conclusion. That miner that you linked would be a waste of money IMO. Supposedly that Antminer S9 that I linked is the best available today.
You can also contract someone to mine for you, such as Genesis Mining.
The bot is a "trading" bot, not a "mining" bot. Basically, you feed this bot your Bitcoin, and it compounds it on a daily basis. It makes anywhere from 1% - 2.5% a day (and never loses). When you understand the power of compounding, then you'll understand the power of the trading bot.
To illustrate the power of daily compounding, a $2,500 investment becomes $94,459 assuming a 1% daily return after 1 year, and $3,568,969 after 2 years.
I used dollar amounts for the illustration above, but in actuality, those numbers would be expressed in Bitcoin values. The above example also does not take into account the market value of Bitcoin. If it continues to climb, then the numbers above would be even higher. Obviously, if the market value fell, then the numbers would be lower. The example above only seeks to demonstrate the power of daily compounding.
Nevertheless, if you want to discuss this further, you'll have to PM me so we discuss it further.
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Quote Originally Posted by JROCK1966:
Jimmy, that miner I posted a link for above is not a good one. I have since found out more about it and the hash rate is bad evidently. Please tell me more about this mining bot....
In doing a little research, I concur on your conclusion. That miner that you linked would be a waste of money IMO. Supposedly that Antminer S9 that I linked is the best available today.
You can also contract someone to mine for you, such as Genesis Mining.
The bot is a "trading" bot, not a "mining" bot. Basically, you feed this bot your Bitcoin, and it compounds it on a daily basis. It makes anywhere from 1% - 2.5% a day (and never loses). When you understand the power of compounding, then you'll understand the power of the trading bot.
To illustrate the power of daily compounding, a $2,500 investment becomes $94,459 assuming a 1% daily return after 1 year, and $3,568,969 after 2 years.
I used dollar amounts for the illustration above, but in actuality, those numbers would be expressed in Bitcoin values. The above example also does not take into account the market value of Bitcoin. If it continues to climb, then the numbers above would be even higher. Obviously, if the market value fell, then the numbers would be lower. The example above only seeks to demonstrate the power of daily compounding.
Nevertheless, if you want to discuss this further, you'll have to PM me so we discuss it further.
I received an e-mail notification of a friend request from Crazy_Train. I have repeatedly tried to respond to the friend request, but the link keeps timing out. I will, however, accept the request if I can figure out how to do it.
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I received an e-mail notification of a friend request from Crazy_Train. I have repeatedly tried to respond to the friend request, but the link keeps timing out. I will, however, accept the request if I can figure out how to do it.
Not sure how the message above got so mangled, but let me try again.
I received an e-mail notification of a friend request
from Crazy_Train. I have repeatedly tried to respond to the friend
request, but the link keeps timing out. I will, however, accept the
request if I can figure out how to do it.
0
2nd attempt:
Not sure how the message above got so mangled, but let me try again.
I received an e-mail notification of a friend request
from Crazy_Train. I have repeatedly tried to respond to the friend
request, but the link keeps timing out. I will, however, accept the
request if I can figure out how to do it.
Let me see if I have this straight. You have a screen name of "wallstreetcappers", and have no clue what alogrithmic trading is? Something that has been a major player in the markets for a decade? It seems that the only thing that "scammy" is your handle . . . IDIOT!
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Let me see if I have this straight. You have a screen name of "wallstreetcappers", and have no clue what alogrithmic trading is? Something that has been a major player in the markets for a decade? It seems that the only thing that "scammy" is your handle . . . IDIOT!
I'd be careful...after a quick search on this topic, it smells super scammy to me.
Furthermore, this is a thread about mining cryptocurrencies, not algorithmic trading. If you feel the need to warn others about what a "scam" algorithmic trading is (ahahahahahahahaha), then start your own thread. Just be warned that the people reading and posting on this message board have internet connections. That means they can Google algorithmic trading for themselves to see how utterly foolish your assertion really is.
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Quote Originally Posted by wallstreetcappers:
I'd be careful...after a quick search on this topic, it smells super scammy to me.
Furthermore, this is a thread about mining cryptocurrencies, not algorithmic trading. If you feel the need to warn others about what a "scam" algorithmic trading is (ahahahahahahahaha), then start your own thread. Just be warned that the people reading and posting on this message board have internet connections. That means they can Google algorithmic trading for themselves to see how utterly foolish your assertion really is.
How about you not make claims regarding the miner equipment or genesis?
A quick bit of research pretty much shot down your claims quickly and I ask that you do not make claims as you did, we do not allow it. And the only reason I even mentioned algorithmic trading was in response to a direct question that was asked by another poster.
I made ZERO claims about any mining equipment or any mining company. I merely suggested he look into it. I personally know very little about mining, and have never actually done it. I am very interested in learning more about it though.
I did, however, make a 100% accurate claim about algorithmic trading that I am personally involved with. My ROI today was 1.15%. Nevertheless, one has absolutely nothing to do with the other.
I understand you're trying to help here, but you're not. That is so because you are not able to follow the conversation. My friendly suggestion to you is to randomly Google "algorithmic trading" and read a few links. Only then will you be likely to follow what's going on.
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Quote Originally Posted by wallstreetcappers:
idiot???
How about you not make claims regarding the miner equipment or genesis?
A quick bit of research pretty much shot down your claims quickly and I ask that you do not make claims as you did, we do not allow it. And the only reason I even mentioned algorithmic trading was in response to a direct question that was asked by another poster.
I made ZERO claims about any mining equipment or any mining company. I merely suggested he look into it. I personally know very little about mining, and have never actually done it. I am very interested in learning more about it though.
I did, however, make a 100% accurate claim about algorithmic trading that I am personally involved with. My ROI today was 1.15%. Nevertheless, one has absolutely nothing to do with the other.
I understand you're trying to help here, but you're not. That is so because you are not able to follow the conversation. My friendly suggestion to you is to randomly Google "algorithmic trading" and read a few links. Only then will you be likely to follow what's going on.
Well post 5 and 7 were yours, I didnt write those.
And yes my only purpose is to protect the site and our members so if you are unhappy with my cautious comments you should not be.
It might be BETTER if you made a disclaimer or stated that for you the return has been X but that is no guarantee rather than what you said in post 3..
Post 3 is for sure not what we want inexperienced members to think is true.
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Well post 5 and 7 were yours, I didnt write those.
And yes my only purpose is to protect the site and our members so if you are unhappy with my cautious comments you should not be.
It might be BETTER if you made a disclaimer or stated that for you the return has been X but that is no guarantee rather than what you said in post 3..
Post 3 is for sure not what we want inexperienced members to think is true.
@Scooby-doos....from the research I have conducted, it is literally comparable to growing money on trees...the tree being a computer hashing out the math. I am a person of modest means and simply cannot afford the equipment investment at the moment or I would have bought a machine months ago. The cloud mining is also interesting enough but you have to risk the crypto price going up to make it work. I would have rather invested in the machine instead. As it is, I just settled with investing in some crypto thru coinbase. Look into it and see what you think. Good luck!
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@Scooby-doos....from the research I have conducted, it is literally comparable to growing money on trees...the tree being a computer hashing out the math. I am a person of modest means and simply cannot afford the equipment investment at the moment or I would have bought a machine months ago. The cloud mining is also interesting enough but you have to risk the crypto price going up to make it work. I would have rather invested in the machine instead. As it is, I just settled with investing in some crypto thru coinbase. Look into it and see what you think. Good luck!
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