Its patriotic to pay taxes ;)
The point is I guess is that it really takes ironhand discipline to make lots of money, oftentimes it is purely accidental. Buy 1000 gazillion in 2009 as a meme, forget about it and then sell it for 10k at 2017-2018.
Though I remember one old guy who kept buying in 2016-2017 and become a millionaire by 2021, sadly he died out of cancer. But even he panic sold some of it when it tanked.
you do realize that isnt a good thing,righ?>muh patch of land goberned by a bunch of old farts
Before things became even worse, of course.
THIS SCAM THREAD SHOULD BE DELETED
i'm still making like $4-6/day mining ergo>btc with my rig of 6x vega cards (that is if i were to sell as i mine, but i'm holding for better prices in the future). i dont have to pay electricity so this is actually not bad. these cards are worth like $200-250 on ebay now, i got them at prices between $600-800 a year ago. at peak crypto last year they were earning over $20/day. these are old ass cards from 2017, but they have good hash/power ratio for mining ergo, are cheap and readily available used, sturdy, have a wide stable range for clocking and volting, and have 8gb of memory so they can mine most crypto for a few more years, so i like em
if i were to get into crypto today, i would probably just make a rig for ETH and gamble on eth classic continuing to be profitable to mine when eth disappears. prices for cards are so low right now it is a good time to build a rig. prices will probably be even better in a few months when the next series of cards gets released, there will be tons of used cards for sale
>>292566>prices for cards are so low right now
yeah, no thanks to pajeets like you. RTX-40 series isn't releasing anytime soon because Nvidia doesn't know how to restrict mining capabilities to keep tards like you from buying up and burning out all the new cards. You are the one oppressing gamers worldwide.
>>292566> i dont have to pay electricity
so essentially you're stealing $4-6 a day from your parents
$1.5-2 in my area, and not from parents, if you ever have a place that has electric included in the rent that is ideal for mining
these are 5 year old cards bought used that have been mined on continuously by who knows how many other previous owners. they were shit on so hard on their initial release for being way too expensive. no one uses these things for anything but mining now. you can get readily available current gen stuff on ebay for an equivalent price that plays games much better and at lower power usage
hodl mining ergo rn
I finally realized that this is what made crypto succeed more than. It happened because of the same thing that caused the real estate bubble, the tech startup bubble, and every other bubble that's occurred throughout the 2010s: QE and near-zero interest rates flooding the economy with liquidity, without a corresponding increase in productivity, leading to asset inflation.
Think about it, a digital asset with built-in scarcity, that can be quickly bought by anyone in the world with internet access, and can (seemingly at least) be used to launder money or dodge taxes… it was the perfect vacuum for the mountain of monopoly money in the hands of people too lazy to do actual investing.
And no coincidence that in 2020, immediately after the most ludicrous wave of stimulus in all of history, with so many people suddenly having spare money and nothing to do with it, cryptos mooned. Now we're headed in the complete opposite direction, with what's looking to be the greatest credit crunch in all of history.
I recommend any wizzies that haven't sold your bags yet do so promptly. The economy is going to make a rapid shift from artificial scarcity and digital bullshit to real scarcity and productivity. It's already happening with all the oligarchs buying up farmland. There will probably be inflation still for a while, not of assets, but of goods and services. After all do you think people will bother buying crypto when food, electricity, debt payments, etc. will take up almost all of their income?
maybe short term things will get pretty bad. im ok spec mining for a few years and holding it for a while. this stuff always happens in waves
Don't get hysterical. This boom and bust crunch has been going on for hundreds of years in order to consolidate real assets into the hands of the powerful. If you have the realistic means to get out and buy a bit of land and a hovel to live in or whatever it is you need then do that.
Otherwise, diversify to weather the storm. Pay particular attention to payment transfer platforms that might become defunct, so diversify those as well. I was recently staying in a motel for a few nights after camping for free in the woods and the guy was like>yeah I'm one of the few motels around here to still take cash
Little bit of a shocker for me, but that's how it goes. He also listed paypal and child support cards as things he wasn't taking as payment (lol)
are there are noncustodial solana wallets for windows? everything i see is a fucking chrome extension or some mobile nft game bullshit, or some mega wallet service website that is really just storing coins on THEIR wallets not urs
The federal reserve bank is only about 110 years old. It's not the first time they did this to the US. It's just the first time that finance and economy have been so interconnected at a global level that the lucifereans are salivating and chomping at the bit in order to achieve their precious new world order.
But they can't bring down the existing one without a new one to take its place, and they don't yet have any global (((consensus))) on what to do instead, so don't do anything rash just yet. The storm is still a-brewing.
>>290917>Life ruined>Has nearly half a million dollaroos
Just buy drugs off the deep web and sell them for a profit at your country club, you avaricious bastard.
ok just found something called atomic wallet that completely solves my problem. time to accumulate
Solana is a centralized shitcoin
who cares. if jp morgan and mr bigjew are buying up jewcoin im gonna tag along
Good analysis fellowiz.
History rhymes sometimes. I feel we are in late 90s. Anyone could put some money in some tech stock and make x3 x5 the money. There were many tales about people becoming millionaires, or millionaires losing everything back.
There was also a recognition of a looming recession. This was quite unlike 2008 when the collapse came very fast and very hard. EVERYONE knew internet companies were in a bubble but no one knew when it would crash. You would have people talking about how crash was coming sine 1995 but then realize that people made enormous money between 95-99. So you invest only to lose everything in 2000-1.
Everyone can be a financial genius in booms. And always remember that most "crypto" investors, especially the ones you see on image boards are zoomers who don't even remember 2008 recession that much. They are in their early 20s and never seen a proper recession. The next one, whenever it comes will be quite lifechanging for them.
It's kind of a slow board and I'm pretty much out of the game, so I don't always have much in the way of rare information or novel hot takes. But keep fighting the good fight because there are going to be a whole bunch of people going through the same thing and learning the hard way about international finance and geopolitics. If I'm around if and when IT'S HAPPENING maybe I'll chime in. At this point, it's probably about enough that people remember that it's always HAPPENING and that it might start HAPPENING again pretty soon and that they're better off thinking and planning a head a little bit, and asking questions from people putting out an offer about having been somewhere around the block before.
not much to talk about in terms of crypto mining. gpu mining isnt really profitable. with no profits, where is the interest?
it's identical to old western cycle called "boom and bust" where boom towns developed around gold mines or other resources, and then became ghost towns when the single resource was exhausted
I'm still waiting to buy in. Was interested in it since late 2020 but I was perfectly aware it was a bubble. I was really tested this June when I saw prices go to 17k but I'm still waiting to buy in at 10-15k.
I'll just buy few cryptos that I believe will survive. I will hold them for 7-10 years then sell them or whenever they reach x20 profit.
But I absolutely agree that this is not an investment at all but a gamble. I will gamble roughly 4-5$k at most 10k$. It's basically like investing in pokemon-magic cards and beanie babies.
I believe there are few crypto that are decentralized enough and tested and tried to hold or even gain some value on the long run. Monero and Litecoin are two things that I wait out. Monero might be cracked down or increase its popularity due to anonmyty and I believe after bitcoin mining becomes far difficult miners will revet to other proof of work coins. I think litecoin is one of the good candidates as it is quite old and established and do not have chinese mining syndicates or schizo ceo's behind it.
I'll just buy 5k worth wait 7-10 years and see what happens. It goes to 10k? great. Miraculously goes 100k? awesome (I highly doubt one can more than that, even 100k is extremely optimistic and delusional level). If everything tanks? Oh well lost 5k$ in 2022 to some memeshit.
Bonds-stocks-real estate-farmland those are true investments not meme coins. Pure gamble.
in the last 20 years the US m2 money supply has quintupled, looking at the 20 year period before that it tripled. if we extrapolate that then in the next 20 years we can expect the m2 money supply increase by 300-500%. the supply of monero on the other hand is projected to increase by 22% in a span of 30 years. given that the US dollar is controlled by a for-profit company that does not have your financial interests in mind, and monero is decentralized and has been designed to be scarce, i dont know where your uncertainty arises. if youre autistically focused on a minute by minute price graph then yeah it does look like a gamble, however eventually the market can determine if something is more valuable than another, and since monero is objectively a better currency than the US dollar, that makes it more valuable.
Your first point concerning inflation is valid. But that is nothing new to me. People were talking about inflation in 2008 crisis too and even before that. Staying on cash is stupid but that doesn't make your investment valid. There must be other reasons to hold an investment.
There is no guarantee that monero will last next 10 years. There can be massive crackdowns on darkmarkets and places like bisq and localmonero. There can be a better faster private currency. Pushing monero away. You cannot predict the future.
Also, riddle me this. Would you own worlds entire gold, entire crypto? or worlds entire farmland or companies? Companies produce something they create value, farmlands provide you food every single year. Crypto and Gold just fucking sits it produces nothing it creates no value. Now there are some technicalities ofc, gold is used in some applications but most gold just sits there in a fucking vault or basement.
This doesn't mean monero might not be more valuable in future I believe it will be but I don't want to bet on it.
You can invest in a total market index fund + government bonds and Unless there is a communist revolution you can bet that you will increase your money. Roughly 5% after inflation. Read up on boggleheads if you are curious.
For me crypto is way too risky. If I have 100k I would put no more than 10k on crypto and put rest on some vanguard target retirement fund. If you want to go all in to monero be my guest. I am more than happy to have smaller returns for smaller risk.
yeah, i would rather have the actual wealth instead of its representation, but that can be a lot of work and not everyone has the capital to get their foot in the door on that kind of thing. plus it has nowhere near the potential for gains that crypto has. if crypto is successful it will replace fiat entirely, meaning every fiat dollar in existence will go into crypto. that is an enormous gap that has to be bridged, and i believe it will be, its inevitable. like how after the french revolution monarchy was done for, weve already had crypto gain global recognition and theres no going back. and just like how im sure there were many failed revolutions against monarchies, the government might crack down on monero. it doesnt change a thing though because the wheels have already been set in motion, when its governments vs the people, the people win.
To give some counter arguments. Just because crypto might have a future (it may not) doesn't mean the crypto as it is today might be prominent 10 years later.
You could predict internet would've been a big thing but might have lost all your money to pets.com, or panicked after dotcom bubble.
Or you could've be very smart and predict that search engines would become very important and go all in to altavista. Google would come up years later.
anyways my point is it is a gamble can win big but also loose all. I rather keep my money on safe and sound things than go all in on some bet. I'm content with the low returns.
It's amazing and lucky as fuck how I managed to save my money from Celsius and Luna Terra.
I used both platforms, but I pulled out of Celsius for Luna Terra, then I sold at a 20% loss when the Luna Terra ponzi was collapsing.
It's honestly I miracle I didn't lose all of my money and only taking a 20% haircut, which equates to tens of thousands of dollars.
Now all of my money is just sitting in a savings account gaining 2.5% interest a year.
Watch out for ponzis and scams wizzies
put it in a vanguard or ETF at least.
This retard actually bought Solana, when I specifically said it was a centralized shitcoin.
Now Solana is dumping massively because the FTX Jew propped up the centralized shitcoin and is selling all of their reserves.
You can't even deposit or withdraw Solana on crypto.com because they froze it.Retard, should have listened
no worries, i didn't actually acquire any meaningful solana. i was using unmineable for a few days to get paid in it but the rate was terrible. at this point im mining at a loss anyways
buy bonds or high dividend stocks. 2.5% is dumb
Apparently this Bankman guy was a big name in the effective altruism and rationalist community. Now you can see how altruistic utilitarians really are when they manage things (pure hybris).
Why does god only give money to the drooling retards who don't know how to use it?
He gives his toughest battles to those He loves the most. Or at least that's what I tell myself
Bought the absolute bottom of the crypto crash and I've already made a couple thousand dollars.
Yeah, that was the bottom. I bought the absolute bottom in 2019 and I got the same feeling when I just bought a SHITLOAD of crypto. Like, 95% of my networth is in crypto right now.
Let's fucking gooooooo.