i do

just upgraded my setup too

thinking of moving some profits into mining

Don't have enough money to buy a dedicated mining rig, I've seen some people rig up USB coprocessors. Any info on that?

let me give you the skinny on mining. assuming the coin price stays stagnant you will make your investment back in about 1 year 3 months. however the coins always go up more than what they were a year ago, if you want to start mining a different coin because it has become more profitable it works just as well, the parts you buy will have a minimum age range of 5 years (really about 7-8).

have you heard of BURST?

nope

on the USB coprocessors, i dont think they are really that viable imo.

better to save up the 3k for a decent rig to put together

https://www.burst-coin.org/proof-of-capacity

im going to read up on burst. looks like an interesting concept.

https://coinmarketcap.com/currencies/burst/

if it doesnt constantly overwrite bits on free space then it could be really good.

I need to learn more about all the tech, just starting a data structures course which I'll follow with a cryptography and then cryptocurrency course

hasn't stopped me from speculating though, why do you say "if it doesnt constantly overwrite bits on free space then it could be really good." if you don't mind briefly explaining?

I'm currently using a laptop and cooling pad to mine Monero but I think I'll get to work on building a dedicated mining rig over the spring and summer.

Of course it helps that I'm taking computer architecture this spring.

nice

any particular reason why Monero for mining? Besides it being a good coin?

I think that if any other coin has a chance of increasing in value like Bitcoin, it's Monero as it offers something more of value than just "being like Bitcoin".

Namely it offers more privacy

it's a solid one for sure

BTW total newb question but, how do you buy crypto currency with us dollars?

https://www.coinbase.com/ and I'm hearing more about https://gemini.com/ might be cheaper than coinbase

Interesting, Gemini is what the bitcoin futures contracts are based off of, and a lot of brokers use Gemini as a reference point for the "official' price of bitcoin.

I take it you can also sell crypto currency there as well right?

I know nothing of Gemini tbh, checking it out

Yes, coinbase also owns the site GDAX.com which is an exchange with charts and more intracate ways to buy/sell

for altcoins there are a variety of popular exchanges, some I can think of are www.bittrex.com www.binance.com www.gate.io www.huobi.pro www.poloniex.com www.bitfinex.com

Thanks

www.cryptopia.com

I end up using a bunch because some have the coin I want but not another etc etc

How much are you averaging or most spent on transaction fees when sending bitcoin to another address??

I will bite. Sent $5.00 to IE just testing out this as new. And came to $19 something! 😱

So $14 mining fee!?

So BTC is down. Is the whole market down?

Comment from HN https://news.ycombinator.com/item?id=16121434

"Yes, there was extremely wide discussion in 1999 and 2000 about the dotcom party being typically somewhere between fraudulent and a giant bubble. The Buffett side of traditionalists won that argument, by a landslide. In the end, profits mattered, sales mattered, and something a lot closer to a traditional valuations model won out.
There was common discussion about junk dotcoms like TheGlobe.com, DrKoop.com, Geocities and dozens of others, and how they had no actual sustainable business (and often no plan for when they'd develop one). Scient, Viant, Razorfish, MarchFirst, and dozens of dotcom service companies were granted crazy valuations versus existing traditional peers (which is history rhyming re Ripple vs PayPal/Stripe/Square/Ant/etc).

The high burn rates, the lack of business models to actually make money, some that went public with practically no plans for how they'd make money at all, extremely high valuations on the few that were making money, and so on. These things were all very widely discussed, many skeptics were shouting about it, it wasn't popular to give them TV talking time (channels/sites like CNBC et al have a vested interest in pushing exuberence)."

@this_that5553 yes, it's hard to balance optimism and pessimism especially in the short term vs near term. For example, there were signs of a housing bubble in 2006 but the crash in 2008 didn't even dip below 2006 levels so it would not have been ideal to start holding off at that point. Seems the economy has feast and famine periods and you lose a lot if you don't eat during the feast periods. Personally I've dealt with this ambiguity by having already pulled out my initial investment in crypto, only using profits, and I will probably take some of those out soon too

@here I’m ready to buy my first Cryptocoin, specifically Iota. Can someone help walk me through the process?

@Wotan Klan-GA as I understand it most people start by buying Bitcoin and then using that on an exchange to trade for a coin like Iota

@Aldo
[6:27 PM] Aldo: hasn't stopped me from speculating though, why do you say "if it doesnt constantly overwrite bits on free space then it could be really good." if you don't mind briefly explaining?

if it constantly overwrites bits on free space then it will drastically reduce the life of the drive and lead to bit errors.