It switches between the most profitable coin constantly. It’s difficult to say but it is not bad, though. It’s making more than it costs to run, so it’s on whenever I’m not gaming. This is what I get on Lyra using 80% power target, +125 MHz on the core and stock (5500) mem...
Last night I was looking at it and getting the sweats a bit even with my current low investment. It was down around 55%!! It's back up to around 70% of what it was before the dip for me now, and I'm honestly wishing I'd been able to buy some more while it was down, because within a few days it's going to be back up. One could double one's money buying this low in just a week.
Part of me was tempted buy a couple of ETH earlier this afternoon, could have made £300+ per coin or something already but ah well haha, at least things are looking up
TRX dipped to a low of 3.5p and has been up over 6p. A single £700-ish ETH would be around £1,200 just in one. And if you were buying more than one ETH. Well that's the gamble isn't it.
ETH is still higher than it was on 5th Jan, even after a 40% drop, that goes a long way to putting it's stability (compared to Alts) into perspective. I'm annoyed i'm further in the red with LTC, but even more annoyed payday is still a week away and I couldn't get any cheap ETH!
I'm up about 60% from yesterday's low point, which is nice. Wonder how many people sold at the bottom and are kicking themselves - and how it compares to the number who sold at the top and bought the dip and are now sitting pretty on a doubled or tripled crypto stack?
Here's the thing: nobody wants you to get rich if that means they get less rich. When the market's up, those who haven't bought enough will cry "bubble," "bull trap," "dead-cat bounce," in an effort to get you to sell your coins cheaply. When the market's down, those holding heavy bags will tell you to "buy the dip," "undervalued," "we've hit the bottom," "recovery imminent," and prey on your fear of missing out in order for you to shove money into the market and buoy up their investment. If someone's telling you it's a bull trap, then they're almost certainly invested in seeing the price drop or stagnate. Equally, if someone's telling you that we're heading for a recovery then they're almost certainly invested in seeing the price rise. Either way, ignore 'em and do your own research. Although, obviously, we're heading for a recovery and you should put all your money into Ripple right now. Like, immediately. Moon! Lambo! Et cetera! <goes back to refreshing Blockfolio to see if it worked>
Can't believe I'm going to say this... but Reddit.. Unless you can get behind something like the Bloomberg Pay Wall to get analysts research, its the best thing. But you've got to compile and critique everything you read.
Like @Mankz says, reddit is good - but better still, if you're in it for the longer term, is to apply critical thinking. If a project smells like a Ponzi scheme, has no public white paper, has anonymous backers, has no real-world use case? Avoid. Sure, you might get lucky and double your cash if you get in on the pump-and-dump wave early, but you might also lose everything. Pick a project or six that have real-world use cases, real-world users, a verifiable team with experience and knowledge, and a white paper that seems to make sense, and you should be set - though you'll likely make your gains over a much longer term.
Economics books that examine turn-of-the-century stock markets, when regulations were pretty lax and (relative to today) volumes were small and operation was slow. The principles examined there are applicable to todays crypto markets, which are similarly light on regulations and vulnerable to 'all the old tricks'.
Thanks all. Great info, I'll be sure to do some book studying and look beyond the coin name. (Dogecoin looks good ) For Reddit, is there one subreddit I need to subscribe? Or just search the coin name and filter through all the comments?
This. 1,000,000 times this. Its the only reason I dumped my cash into XRP in the first place. It had a real-world use and had uptake from known institutions. At the same time as we all want to make huge profits from these coins, its equally important we don't lose everything.
