It's finally all over.
fucking thank god.press B to benis :DDD
How is it over?
>>61414073citation neededdon't get my hopes up, please
>>61414098shit's been declining for a week, yo.
No, BTC is just going down because there is a lot of specualtion for the upcoming August 1st date. It will rise after that.
By over you mean you finally off'd yourself?
Thank god, fuck these jewcoins for making graphics cards prices skyrocket
>>61414113Nigga that is not a valid reason, What events are causing this decline? Are people just being retarded? did some investor back out? is this shit actually useless?
>>61414122>August f-f-first guys!>it'- it'll r-r-rise!You new to this?
Have you seen /biz/? The stupid memecoin miners are shitting bricks
>yfw another memecoin spikes after all the miners jump ship from ETH
>>61414149I'll bite, why do you think it is dropping?
>>61414144Well from what i've gathered the mining has gotten less profitable and the market is starting to cannibalize itself with whales and hackers.
>>61414152That's downright glorious.
>>61414162copy-paste what happened to dogecoin.
Why isn't there a piece of hardware designed for mining that isn't a gpu?
You guys are the same delusional bitter retards who shat on Bitcoin when it was $1 a coin. Thousands of neets just like yourselves have earned hundreds of thousands of dollars off of it over just a few years while you autists are still bleeting like scared, stupid sheep. This is nothing new for the crypto markets.
>>61414113>Like a weekLol
/biz/ needs to go back
>>61414152Good, they are the most obnoxious cunts on 4chan, and by that merit the entire internet.
>>61414335There are purpose built mining rigs, but the big enticing factor for Ether was that you didn't need any of that stuff to mine it.
>>61414073It's still plenty profitable at $150 though. It will die when the difficulty keeps going up and eventually gets too high.
>>61414601>it lost 33% of its worth in a month>guise, it's still profitable eheheheRetard.
>>61414623It is. Unless you live on like the west coast and pay out the ass for electricity.
>>61414510Should rephrase that>Shit's been declining for a month>Shit's been CRASHING for a week, yo.
>>61414641>factoring in electricity has a make or break factorlol, it's a factor but not much of an influence of the overall ROI.
>>61414073PREPARE FOR CHEAP USED GRAPHICS CARDS
>>61414667People who are still mining are going to keep mining though. You're not going to see that flood of cheap used graphics cards that poorfags on /g/ are hoping for yet.
>>61414073Damn, I was going to sell my unused RX480. Do you think it's too late?
>All the coinfags freaking out on /biz/S U I C I D E W A T C H
>>61414073Memereum was always a scam, that's why the many forks by people who knew it was thievery to avoid the founder 'reward' and run a rival coin, and the Ethereum hard fork the founders did to avoid having to pay out that DAO contract hack. Forks upon forks upon scams. Everybody involved will turn on each other soon and lawsuits will begin when one of them cashes out the scam early and leaves the rest holding the bag.
>>61414623You know they were making like 1600% on their electricity costs, right? The only problem is ROI'ing and even then they still have quite some resale value >>61414862You aren't even taking into amount the massive and ridiculous amount of ICO scams that have been popular lately
>>61414739No, most of the miners selling their cards are still doing it at 2+ times the MSRP
ITKEEPSTUMBLIN DOWNTUMTUMBLIN DOWNTUMTUMBLIN DOWN
Thank god, can't wait for it to return to the norm so I can aquire cheap ether for the next speculative bubble 4 years from now.See you faggots then
>>61414073I hope many of those miners die from poverty
What are the minerfags going to do with all the GPUs they have?
Any of you learning Solidity to make millis in crypto?
>>61414995The fleet footed ones will sell at a loss, and others will hold onto them and mine another meme currency that will bubble in a year.
there is only one alternative to bitcoin
>>61414162Because people aren't buying it.Bitcoin is driven entirely by demand.
That's what I said around 14 euro after the hard fork.
>>61415339Luckily I bought some again at 80 dollars.
>>61414995I've been in the game since before the last huge pump and crash in 2014. So I have a pretty good grasp of what will happen. Small miners (less then 5 rigs) are already dumping their cards on eBay. Medium sized miners, the type that have some decently cheap power and maybe rented out a place to host several dozen rigs. They will probably hold for 6 months or so while mining other shitcoins.Large facilities, you know the ones with millions of dollars in hardware in huge warehouses. They are typically owned by Venture Capitalist groups and operating costs for whatever years was already budgeted for ahead of time in their business plan and investment. IE they probably are not going anywhere for over a year.
>>61414335The way that Dagger-Hashimoto (Ethereum's Algorithm) interfaces with memory you can't make an ASIC for it. So that is why it's only capable on a GPU.
>>61414122There's only one thing rising in August and it isn't bitcoin.
>>61414162Somethings must fall for others to rise.So sayeth the laws of the universe.The bigger the thing that is set to rise.The bigger the fall.
>>61414073Yes fellow 4channers, sell me all of your ethereum, I'll take great care of it
>>61414995Crunch numbers for free on Folding@Home and BOINC projects for that glorious e-peen, along with hashing ebin trips and cracking the trips of tripfags they hate
It's gonna take few more weeks before it's dead. Right now it's still profitable if you already have a mining rig.
>>61414913Not to mention the upcoming Bitcoin apocalypse where some mining consortium released a PR release advocating for a fork. Nobody can sit down anymore and build a consensus. Everybody instead just releases press releases or shit awful navel gazing blog posts and tries to discredit each other enough until one side gets what it wants. If Bitcoin implodes Ethereum goes with it
Just looked at ebay. Tons of rx480s being sold. HHAHAHAHHAHAHAHHAHAHAH MINERS BTFO
>>61414098The hype is dying, so more of ETH's cracks are showing. The three most obvious issues with ETH are:1. All of ETH's extensive corporate sponsorship defeats the purpose of a decentralized blockchain (since they can, theoretically, exercise control at any time)2. We still have no fucking clue regarding scalibility since no one has accepted ETH directly as a payment option yet. (Everyone seemed to just be hoarding it waiting for "that guy" to show up and build something.)3. In the current political climate, using a coin developed by a Russian is a huge red flag by the international community (inb4 /pol/).It had a lot of other problems from the start, but all of these were looked over by crypto noobs seeing "OMG MICROSOFT IS BACKING IT GUYZ xDDDD" and started getting hyped to dick.
>>61415898Hey man, I'm just trying to make a profit off of some dumbass trying to get into the game late.
>>61414692I'm already ready. All the RX480s have been sold out for weeks on Newegg.
>>61414122>Bitcoin has real utility goys>surely you recognize it's value>it has limited availability and is therefore valuable by proxyMy taint hair is quite the specimen. What will you pay for it anon?
>>61415917People cant be that dumb anon. The ones who will be buying these cards will be the people you fucked over in the first place.
>>61415911>no one has accepted ETH directly as a payment option yet.And no one will. No business is going to risk accepting a currency that isn't stable. Places that started accepting bitcoin were only doing it for publicity when the first crypto bubble hit mainstream.
>>61415965Do you take Goycoin?
>>61416013ETH is not bitcoin, it's an application platform so nobody will be paying 'with ETH' anytime soon. The whitepaper explaining exactly what Ethereum was supposed to be is here: https://github.com/ethereum/wiki/wiki/White-PaperYou could however taint some ETH tokens and claim they are now "ETHUSD" if you were a bank or exchanger, and then use the system to trade for other tokens or services which is what the orig plan was, problem is imperative programmed contracts are a terrible, terrible idea. The Russian 'founder' pushed for this in Bitcoin and they politely explained why they refused to allow a turing complete language on the block chain so he created his own shitcoin which is rapidly tumbling.
>>61416096B-B-BUT HE WAS ON THE COVER OF NEWSWEEK!
>>61416112He paid to be through a PR agency, google "The Submarine" essay by paul graham which explains why you constantly see Ethereum in the media
>>61414087qFight the system.
>>61414073>tfw you bought at 391 USD and it's under 100 now.holy shit what did i do guys?
>>61416206Just wait a while.
I don't think ETH is over by any means but it was never meant to be a fucking currency. It was created as a platform for distributed computing and meant to be held. The smart contracts are so that it's value can be tied to a real asset to give leverage to holders. The transactions are meant to compliment the solving of actual cloud-based computing problems and exchange of digital services, which is why is was made turing complete. Except like >>61416096 said, any jackass can just create a token now which led to the creation of a million scam ICOs that overshadowed the good ones with a solid business plan. Couple that with decentralization and no form of regulation and you've got the cluster fuck that is going on right now.That being said, I still have a few hundred dollars tied up in ICOs with actual business plans and am going to keep my money there. ETH is not going away, it's just having major growing pains.
>>61416206>bought at 391Kill yourself you monumental moron.
>>61416351I consider ETH contracts 1.0It is to me kind of a buggy, scammy venture and somebody else is going to come along and iron out said bugs, not have a scammy founders reward, not shill themselves in the press every second and use a declarative type contract language that other people can verify is correct. That will start grass roots and quietly take over when ETH eventually crashes because I see the founder(s) all cashing out and running away if promised quick billions aren't forthcoming.
>>61414073>Be me>Poor af, jobless>Decide to put the only money i have left on 2 RX 580, to start mining because hype>They were expensive af because miners, won't even say how much but it was a lot>Decides to focus on Etherum because Bitcoin is too hard to mine, and the other crypto shit aren't worth shit>This happensSheeeeeiit
>>61416460Come on, anon. You would have to be retarded to think that wasn't a terrible idea.
>>61416460There is still money to be made in shitcoins. Just mine the really really cheap alt coins. Even a minor price rise when a coin is really cheap means big gains for any holders.
>>61414357Yeah except ETH is genuinely bad. There are plenty of competitors already that are just as scammy but ultimately have better tech, whether or not smart contracts are even really valuable is yet to be seen but being short on ETH is obvious
i just bought 1,018 dollars worth of ethereum and pretty sure that i'm gonna be set for life off this shit. i would invest even more but that's literally all the money I have, thanks for the tip /g/
>>61416962is this bait
>>61417031Yes, no one is that retarded.
How much is an rx 480 8gb worth for on ebay right now feel like picking one up.
>>61417083I want one too. but pretty sure I looked a couple days ago and they were still overpriced
>>61415190my nigger, just got into it
>>61416460get on the monero hype train buddy
>>61414073Wait until Vertcoin moons. If you've think you've seen some shit with the (fraudulent) Eth rise, just you wait.
>>61416460You should have rather bribed someone for a job ya dingus
this thread has really got me thinking.....
>>61417270We're talking about legal businesses, alphabay is far from legal.
>>61415911>In the current political climate, using a coin developed by a Russian is a huge red flagMost Russian diaspora in North America are Jews and hate Putin.
>1 week ago>HOLY SHIT I CAN'T FIND ANY AMD GPUS THEY ARE ALL SOLD OUT IN THE ENTIRE WORLD>Now>Ethereum going down faster than the 9/11 towersTell me /g/. How many people lost money getting into Ethereum so late? I want to laugh at them.
Mined for 3.5 weeks in may-june on my shitty rx480 from gigabyte, made about $60 right in time before steam sale which was pretty nice. But those faggots who bought every card available deserve to be castrated.
>>61414087BBBBB E N I S :DDD
I'm constantly amazed at the lazy people who gets angry at the people who put towards effort to take advantage of this goldrush.
>>61418111Said goldrush only lasted a month and a half. There will never be something as big as bitcoin again so why even bother to begin with.
WHY dont you SHORT SELL on that shit , and make money anyways.
>>61418208ANS will be bigger than BTC and ETH ever hope to be.
>>61414073Thank fuck, now we wait for used GPU. >>61414087B
>>61414087BFIMLY :DDD Resd im bepis.
so /g/ can someone give me a quick rundown on bitcoin mining ? I know what bitcoins are, how mining works so the technical side is no mystery to me. but I still have a few questions:1) Is it actually possible to make money off of this without taking crazy risks ?2) If you want to start mining is the way to go to buy graphics cards and mine from my basement or how do I do it ? Or do I go to one of these cloud mining services and invest so that they mine it for me ?3) Assuming I have to invest a few 1000$ into a mining rig or sth wont it take me forever to make that money back ?4) How easy is it to turn my bitcoins into real money ?
>mine for ethereum in February>price jumps from $30 to $60 or whatever>this would be a good time to sell>two months after it jumps to 300+>mine some more>it crashes before I can sell highEvery time. What should I do anons? I didn't lose any money but I want to squeeze everything I can out of it
>>61419185It's a risky as fuck investment and you are too late to make any money off of bitcoin.You might have had a chance to mine ethereum but now it's crashing before the flip so heh.
But the coin wasn't made for doing business, it was made for paying for running programs, right?
>>61419233Either sell now or commit fully to it doing a BTC and becoming massively valuable later on. Neither option is a good one but they're all you've got.
How good is Ripple? I want in early and scam money out of people when it inevitably shoots up because le Bitcoin backed by banks meme.
>>61419185>1) Is it actually possible to make money off of this without taking crazy risks ?Yes. It will just be a tiny little bit of money, and it will take ages. >3) Assuming I have to invest a few 1000$ into a mining rig or sth wont it take me forever to make that money back ?When Ethereum had a high price, you could make $3/day per card. Not sure about now.
>>61419185A good gaming PC will give you 200MH/s. An Asic will give you 2GH/s.Chunks run hundreds of Asics in places with free electricity.Ethereum is like Litecoin, it uses lots of RAM for hashing so GPU isn't that much improvement over CPU.
>>61419671When etheteum was high, you could make 5-7$ per card, you're doing $3 now, assuming you have around 29Mhash.
>>61417773It always goes up on mondays. But that doesn't change the fact that the overall trend has been downwards for a month straight.
>>61414113Sweet, I'm going to tune in on the shitstorm over at /biz/Those fags made it a crypto board, and this news tastes sweet
>>61419916Wow at $3 a day you could pay off your rig in like a year wow provided crypto currency doesn't slip through the floor before then wowAll those smart investors on here last month must certainly be patting themselves on the back right now
it's going up againanother crash in 2-3 weeks from now
>>61419995Fuck if I know, I only mined because I have an unused R9 290 just rotting here and electricity is dirt cheap, so I made magic money out of thin air.
>>61415911> developed by a RussianSo people think a nineteen year old hobbyist was a state actor?
>>61420127You didn't make it out of thin air, you made it out of electricity, you pillock.
>>61419916I took my readings when Ethereum was high, not now.
>>61420157You know what I mean you faggot. May as well been thin air since a year of 24/7 mining costs like $180 here.
>>61419696False, you might get one share an hour CPU mining, if you are lucky.
>>61414195>HackersSource on that? As far as I can tell it's just returning to a sensible value after a massive bullrush.
>>61420194>if you are luckyI only talked hashes per second. Not luck.
>>61420148Yes, negative stereotyping/generalizing against Russians is politically correct.
>finallyare you one of those butthurt /v/ tards who can't afford a new GPU to play minecraft in your mom's basement?
>>61414357So how much money did you lose?
>>61420148>implying he's anything but a front
>>61416206Why the fuck would you buy at over 3000% YTD gains and ATH?
>>61420663so .3mh/s on a cpu vs. 28mh/s on GPUYou don't even understand what you are talking about, fuck off.
>>61414073Come back after SegWit.
>>61417773>Ripple and IOTA circulation numbers Get in before the crash?
>>61414073>It's finally all over.You're clearly a noob. I remember when it hit resistance at $20 and retraced to $7-8 back when this DAO things was "hacked".ETH is currently trading at $171. Now, you wouldn't even have started this thread if you were very good at math and reading graphs and charts so I'll give you a few pointers. $171 is a number with three digits.It's nowhere near over, not even by a long-shot. Sure, it's down a bit since its peak at $420 and it's clearly entered a bear-market - and so has Bitcoin - but it's far from over. Distribution of al those coins accumulated at single digit prices will take years, not days or months.
>>61417964Maybe not now, this is fucking Crimea annexing, proxi war with ukraine, political enemy murderering, election medling Russia. Also fuck Putin.
>>61415635Most of the psychopaths behind buttcoins&co don't give a fuck about progressing human knowledge and they'd never waste 1¢ of electricity for BOINC
>>61414357You guys are the same delusional bitter retards who shat on ``insert obscure penny stock'' when it was at 0.01$ a share. Thousands of inverstors just like yourselves have earned hundreds of thousands of dollars off of it over just a few years while you autists are still bleeting like scared, stupid sheep. This s nothing new for the penny stock market.You see why it's retarded? Do you know what the survivorship bias is and how it relates to assets and investors?
Where do i look out for some cheap ass rx 480
>>61416460Monero and pretty Mich every non-ASIC and mineable coin in the top 15 is profitable even with the current correction (that will hopefully end up in a crash)
>>61414073so gpu prices will finally be normal again?
>>61414087BCryptofags should be shot in the head with the smallest anti-personnel pistol caliber round available so we won't waste more resources than we absolutely have to
what to invest in? I'm getting tired of being a poorfag tbqh.
>>61417995considering they literally bought out every 470/480 1060 1070 1080 1080ti im fairly sure a its metric fuckton of ppl.
>>61414144The amount of buttcoins flooding into the market exceeded the amount of buttcoins people are willing to buyso the prices on buttcoins droppedthey will keep dropping until all the buttminers give up and stop buttmining buttcoins
>>61416460Same.>be black>no job>live welfarecheck to welfarecheck cos momma and sis spend it on shoes n shit>spend my meager saving hoping i can get the fuck out>go for etherum>this happenslike shit, i think i might just do black things now
>>61424496So instead of getting a job, you go for a get rich quick scheme. I don't know where this niggers are stupid meme comes from; absolutely mind boggling.
>>61424568i cant get a job cos they all racist against meyo virgin ass dont know nothing white boi
>>61424496>be non black >spend $4500 on mining rig >rig makes $35 a day >resell cards for over $150 msrp to pay off rig >trade the mined coins every week for insane profits >rig already paid off >all of that happened within 2 months>effort consist of buying cards off Amazon and selling coins every Wednesday Now I'm going to churn this cc for a free $200. Fortune favors the bold. In this case many people are simply too lazy to do 30 minutes of research to get started.
>>61424789I need a good amount of money to start something like that
>>61425012>You need money to make money Wow
>>61414073This shit was over the first tine it got breached. The whole concept is flawed.
>>61425096How the hell is a poorfag meant to get into real estate? That's something you do when you're already quite wealthy or see an opportunity to exploit a housing market in some developing area or some shit. My only chance to not be a wageslave is probably crypto-currency.
>>61425156find an etf you like. do you have 1 year of wages saved? Do you have an IRA?
>>61425156Get a real job, get money, buy a rehabIf you're trying to jump from burger flipper to millionaire you're not going to make it.
So what was it useful for?I get the point of BTC, as a non-fiat deflationary currency, but all the hubhubb about ETH was that it was useful to enforce contracts or some shit but I was never really interested enough to read on it.Please tech wizards, enlighten this fool.
>>61420106It always goes up on Mondays.
/biz/ is hilarious
>>61417067>implying >>61422596Yes buy low and sell high
>>61419626Yes buy it is much more expensive than just building your platform on AWS
>>61424036There's two or three shitcoins bolted on BOINC and FAH
>>61424379>yes goy buy at ATH just before stocks crash like they did in 1999
>>61427179>buy high and sell lowfix'd
So why aren't the GPU prices dropping?
Golem on the way back to finally
Now it's the time to buy retards, it's like you hate easy money.
How can I manually mine a cryptocurrency? I'm too poor to buy lots of GPUs so I want to mine them manually. How to?
>babby's first speculationIt's a seven week low you ape. Seven weeks.
>>61427382get a pickaxe
>>61426062Absolutely nothing. It was hyped up so hard by kikes so that clueless millennial idiots would dump money into it to inflate its value. Once it reached its high point, (((they))) dumped their holdings and cashed out at $400. After the dust settled, all the hype wore off and everyone began realizing that its full of flaws and really has no value and now its going back to being just another shitty altcoin.The kikes do these pump and dump schemes all the time, and it was bigger with eth because its used by big companies, and they could exploit that fact to inflate the hype. It's completely dead now that they have made their profit and moved on, and eth will soon be back to $10-$20 range, in the same pile of the pnd shitcoins that it came from. If you're still holding, then you're either a complete retard or a someone that only put in an amount that they don't mind losing.You'll still have morons clinging onto the belief that it will reach $[arbitrarily high number] for absolutely no logical reason other than "muh new technology!!" or "it has support from big corps!!", where the latter is in fact bad and goes counter to what crypto is supposed to be.
>>61427293>got nice freesync monitor>was gonna get a 580 to enjoy the feature>LOLNOI really hate miners.
>>61427668lol whats wrong you hate capitalism bro? blame the manufacturers for not making enough cards. now if you'll excuse me I have an entire store worth of video cards to buy up with my ez money, smell ya later losers!
>>61427668>Not buying on launch
>>61427668I put in a back order on a 580 8gb nitro for $230. That's about all I can so unless I wanna pay the insane prices to get it now.
>>61428113>gpu thread>"le >>>/v/ xD">"do I fit in yet guyze"
>>61414113It was declining for a month before shooting up. Banks are still investing heavily in eth due to their "smart contract" shit
>>61414073>290's still $250 AmazonWhat the fuck
>>61427497Did (((they))) actually cash out? So many fucking ICOs dumping should crash the price close to post-DAO prices
>i-its dead guys>I promise>for real
>>61415423get the fuck out urianger
>>61414073>overIt's only just begun.
>>61428796FUUUUUUUUUCK NOT AGAIN NO NO NO NOMY GPUSFUCKING MINERS NOW I WILL NEVER GET TO CROSS FIRE
>>61428796Here's hoping I get a second chance to sell my 480.
>>61428796>tfw shorted at 180I will keep this with iron hands even of I get margin called
TIMETO GETSLI 1070
>>61414073Mining is for fucking chumps. You're better off simply investing rather than spending fucking thousands of dollars hoping to "mine" a volatile resource.
>>61428796Fluctuations like this kill hype, without hype your monopoly money will be worth next to nothing soon enough.
>>61429832People have been saying this for the past years...Nocoiners will never learn.
>>61414073CUT MY LIFE
>nobody mentioning proof of stakeEthereum clearly wants to be a currency, yet wants to have no advantages over a credit card for the user, with plenty of advantages for owners of large quantities of Ethereum. Anyone who doesn't see that ethereum is a money making scheme is fucking blind.