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bitcoins

I would set up a coinbase account. Then use their pro platform to onboard your fiat. Fees are reasonable there. Or cashapp. Once you have a sizeable amount (can only be determined by you), I would get a hardware device to hold your keys. You can send bitcoin to your wallet without it being connected to the internet. When it is on a hardware device it is effectively touchable by anyone but those that know the seed. The seed cannot be hacked. Hardware, paper, or brain wallets are the best.
 
Blockfi also offers free stablecoin purchases with 1 free outbound transfer a month. They also pay interest on several different coins. Most of my coins are on Celcius, which is sort of a crypto bank, earning apy, or on Kraken, earning apy while staked.
 
This is a great time to get in to bitcoin. the 2nd best time in fact...the best being about 10 years ago, lol.

I would get both coinbase and BlockFi. Take advantage of their promos and get as much free bitcoin as possible. Coinbase is good for that, as they have tutorials that allow you to learn a bit more about the whole crypto market in a way. You'll get a small amount of coin from them, which I just immediately sell for bitcoin (for free on coinbase). BlockFi will give you bitcoin depending on how much you deposit. They also have a referral bonus so if you know someone with an account, hit them up and you'll both get bonuses. Nexo is another option very similar to BlockFi.

It also depends on what you want out of the experience. Those two are both centralized finance and need KYC (know your customer). Eventually you may want MetaMask, which doesn't ask for any KYC (yet). But it is pretty essential if you want to trade small cap ERC20 (ethereum-based) coins. MetaMask can also hold many NFTs.
 
i converted most of my shib to ETH
i had heard some guy who has like 8 billion usd in shib is looking to pull out.
 
I bought myself an Antminer L7 with some profit taking. Should be online mid-Dec in New York. $0.0765/kWh and no hosting fees. As of now, would get me ~$125/day merge-mining ltc and doge (auto-converted to ltc). can't wait!
 
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Bowling4Bikes said:
I bought myself an Antminer L7 with some profit taking. Should be online mid-Dec in New York. $0.0765/kWh and no hosting fees. As of now, would get me ~$125/day merge-mining ltc and doge (auto-converted to ltc). can't wait!
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Good luck I don't think you will get anywhere near what you think. That's from personal experience with mining. When I orderd my machines years ago, they promised 1 btc a year. By the time I got them the difficulty adjustment made them way less profitable. Like maybe only 25%. By the time you get the miner the adjustment will go way up as all of those new miners are plugged in. Why do you think the makers sell the miner instead of plugging them in themselves? If you can stomach the initial losses, you will make out when the price rises. I pretty much mined at a loss at the time but am way up now on the coins I minted.
 
panthera said:
Good luck I don't think you will get anywhere near what you think. That's from personal experience with mining. When I orderd my machines years ago, they promised 1 btc a year. By the time I got them the difficulty adjustment made them way less profitable. Like maybe only 25%. By the time you get the miner the adjustment will go way up as all of those new miners are plugged in. Why do you think the makers sell the miner instead of plugging them in themselves? If you can stomach the initial losses, you will make out when the price rises. I pretty much mined at a loss at the time but am way up now on the coins I minted.
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*looks at the Butterfly Labs unit he paid 14BTC for that hasn't produced a single whole BTC yet*

Agreed
 

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panthera said:
Good luck I don't think you will get anywhere near what you think. That's from personal experience with mining. When I orderd my machines years ago, they promised 1 btc a year. By the time I got them the difficulty adjustment made them way less profitable. Like maybe only 25%. By the time you get the miner the adjustment will go way up as all of those new miners are plugged in. Why do you think the makers sell the miner instead of plugging them in themselves? If you can stomach the initial losses, you will make out when the price rises. I pretty much mined at a loss at the time but am way up now on the coins I minted.
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:wtf

thanks for the well wishes!
 
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Not sure what the confused look is for but maybe you dont understand what you are getting into. Ive been a miner for years and understand the industry very well. You can always reach out to me through pm if you need any technical help. Good luck.

Today will bring new ATH.
 
panthera said:
Not sure what the confused look is for but maybe you dont understand what you are getting into. Ive been a miner for years and understand the industry very well. You can always reach out to me through pm if you need any technical help. Good luck.

Today will bring new ATH.
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Thank you for the offer, I appreciate any advice. My confusion was from what sounded like you were both telling me it won't be profitable for me, but it was very profitable for you. I assume you were saying that I won't get as many total coins as I think, but you are wishing me luck that the coin price will more than make up for it like it did for you?

I think I get it. When your T17s were released in May '19, the btc difficulty was around 6.7 T. In May this year, the difficulty was about 4x that at ~25Th, and there was a halving last year. Meaning you were only minting about 1/8 of what the miners were originally producing. But as you addressed, btc has way more than 8x-ed during that time, therefore your net profits actually went way up over a few years. If I am missing something, please correct.

The L7 was a hell of a lot to purchase, but it felt a little better that I used "house money". We'll see how it works out! Today's LTC difficulty is ~11M. I'll be keeping a close eye on this, as it also affects profitability of my other miners.

Good luck to you as well, and I hope you get your T17s back online soon.
cheers :Port
 
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Yeah what I meant is you will mine at a loss until they go up in price. It's all good but with the same money you can get more coin just by buying. There is really only one reason to mine yourself. Non kyc bitcoin. You pay a premium though. I would have twice the coins I mined if I had just bought.
 
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