When you’re investing into things, always remember the golden rule: DIVERSIFY. This is to prevent you to lose all your money if you stick to one thing.
Corrections: I want to own a McDonald’s that accepts bitcoins and gives out pokemon products with meals.
What are some good sites you can buy altcoins? Tried signing up at binance but they are not accepting new users at the moment.
I couldn’t join with them too but they opened to new users a week ago. Maybe they just let a wave in so keep trying.
I’ve also got an account with Cryptopia. They’ve got 100s of coins and you can set up an account pretty quickly. Based in NZ.
I use binance and can 100% recommend. I didn’t realize they are not accepting new users at this time, but that really is a good sign that they care about their service to their customers if they are willing to stop bringing new ones in for a bit when they know they are too swamped.
ETA: Most the sites I know it isn’t so much “buying altcoins” as it is trading for altcoins and that is binance included. I mine ethereum so I just sent a little of my mined ETH to binance but for anyone just getting into crypto you will need to buy ETH or some that your chosen exchange offers in trading pairs. Avoid bitcoin like the plague as moving it around will take forever and cost you tons.
Cryptopia is quite decent for Some lower cap coins. I am not sure bittrex still accepts new members and im not a huge fan of the long wallet maintenances on critical moments, but a lot of new coins that make bittrex seem to get appreciation in price. But mostly I use binance now, solid platform.
I use binance as well. I’ve never had any problems with them. They are taking new accounts but it’s in an off and on capacity. Just have to get lucky.
So I’m looking at investing in an ico (haven’t done it before). What is everyone’s thoughts on Experty?
Can you share some basic ROI calculations for your ETH mining rig? How did you get started? Did you build it yourself? What was the initial cost and what is the ongoing electricity cost? How many months to break even? Are you participating in a mining pool? Any resources you would recommend to learn more? Thanks!
Edit: Not sure why quoting your post didn’t work but this is what I was referring to “I have halted any further USD purchases, but I have built quite a mining rig setup that is adding ~1 ETH per month to my crypto portfolio.” @gottaketchumall
@surfnsnow here is some quick info for the benefit of everyone. If you require any further more detailed information I’d be willing to discuss further in PMs.
I got started back in July with a $1,600 rig that I built myself. I have never built a computer before, but it was very easy. All calculators at the time were showing ~5-6 months breakeven which I thought to be well too aggressive. They actually turned out to be spot on because while the difficulty increased greatly (and therefore I mined less ETH than projected) the price skyrocketed so I actually did mine ~$1,600 worth of ETH and sold it on 12-31-17. Note that difficulty, price and electricity costs are the main drivers of what your profitability will be. If you live in a high electricity cost area, it may not be for you. I pay ~10 cents per Kwh. My first rig added almost $40 per month alone to my electricity bill but from the onset it was mining a few hundred dollars per month in ETH. Note that noise and heat generation will be a concern if you live in a small house/apartment. For me right now it is great as I run them in my basement and the heat they generate offsets so the furnace has to run slightly less in the winter now.
My main resources were as follows below (bookmark these, they are goldmines of info). I went through each multiple times before taking the plunge as well as loads of YT videos. Very similar to today is that when I initially took the plunge there were GPUs nowhere to be found. You can’t find any hardly in stock at retail. I mainly buy mine at Newegg. I recommend setting up alerts at nowinstock for whatever cards you are interested in. I actually built my whole first rig with used cards from eBay. I lucked out and had no issues but I wouldn’t recommend this as you don’t know what the prior person did with them and would have no luck with RMA/warranty claims.
I actually run all my rigs on ethos operating system currently, but am going to switch to windows so I can mine some altcoins, basically optimize to what “whattomine” shows as the most profitable coin. Ethos is a very very easy OS to use. Very little changes need to be made. Basically just inputting your wallet address. I would recommend mining directly to a “myetherwallet” address. My 1070’s are currently well underutilized mining ETH. I mine to nanopool.
Reddit ethermining wiki
Whattomine profitability calcether mining rig guideNowinstock AMD video cards
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Thanks a ton for this info @gottaketchumall! If I have any more questions I’ll hit you up in PM.
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Apparently there is a registration window for Binance open now for anyone who doesn’t have an account there and wants one.
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Thank you very much, I was able to register now successfully. Let the altcoin gamble begin.
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Obviously do your own research but might I recommend looking into:
Ethereum, NEO, Ripple, RaiBlocks
Ethos and Airswap are interesting but big gambles.
Personally, I’m not wasting time on brand new coins. Sure you want to get in early but it’s a waste of time when I’m thinking those top four (ETH, NEO, XRP, XRB) are going to at least double this year.
Any thoughts on VEN? It looks like it’s been doing pretty well.
I keep hearing about VEN but have yet to read up on it.
I’m sure there’s some other great ideas out there but I’m keeping my circle small. I’m sure there will be some that I miss out on and others that will explode but the main 4 I’ve narrowed down to I’ll stick with for a few years and see what happens.
I wouldnt touch ripple in a 1000 years but that is just my opinion, there are so Many things that fundamentaly dont add up for me. Neo is solid and im still highly invested in it. I am Also a huge huge fan of Icon, I can hardly find any flaws in that project and if they can deliver, to connect blockchains and get implemented deep in the roots of the south korean system I cant even predict what this project Will be worth. I Also think a 2x return in a year in crypto is very conservative.
anyone here have a blockchain wallet? I just have a question on how to sell my bitcoin?
Scary question.
If it is anything like any other wallet you will have to move it to an exchange like coinbase or gdax to sell it. A wallet is just that… a wallet. It can store and you can transfer into and out of it but not sell it. Where/how did you buy it? I would move it to the location.exchange that you bought it from to sell it as that is already possibly linked to your bank account?
The Low maintenance mining program transfers the satoshi to my blockchain wallet. I’m just curious how to sell it.