Showing posts with label Cryptocurrency. Show all posts
Showing posts with label Cryptocurrency. Show all posts
Thursday Mining Update 2
Update: Unfortunately, I don't have an internet connection at my house in the country until my new provider comes to install it. I've resorted to using a tether through my cell phone for the time being. Bandwidth is low, latency is high and I have a data cap. So, until then, the blog updates will be sparingly and no YouTube video updates.
Stocks markets have been doing well in some sectors. No spotlight on Cannabis stocks lately, I think I may have to buy in more to lower my average cost and wait for another run up.
Bitcoin saw a nice increase in price to a 5 month high, only holding out for an hour before falling. I personally think this is a correction and it will continue to climb past $6,000.
As seen in the picture, a mere 24 of mining on my system has gained another $1.15 of bitcoin, which I still plan to hold in my saving account.
I use a AMD
powered system, including a Ryzen 5 2600
and RX570 4GB
to mine cryptocurrencies.Thursday Mining update
Still having a little fun mining cryptocurrencies with Nicehash. The speed for the CPU is pretty normal, but not many people have gotten a RX570 to mine Ethereum at this speed, let alone dual mine Keccak. While the power draw is enormous, this was only for approximately 5 minutes at these rates. Another plus, for me right now, is how this actually helps heat the house. The furnace actually runs less often and I don't have to use any space heaters.
Here's a link to the different algorithms - in case you're curious. I can also make a guide on how to easily mine cryptocurrencies.
First Payout from Mining
Took about a total of 72 hours to earn or "mine" my first payout of 2019 on the Nicehash service. At current bitcoin prices, I personally believe mining for profit has returned.
This balance will be going into a Bitcoin "savings" account where I will earn a daily compounded interest on the balance.
Check out Nicehash Here - Keep in mind you'll need recent computer hardware to mine.
Check out FreeBitcoin Here - This site is also a way to gain Bitcoin every hour, and a place to gamble it. I personally just use for the savings feature.
If Crypto does fail to takeover fiat currencies, at least it was an enjoyable experience for me. However, if it does, I will be steps ahead! Now back to stock trading tomorrow!
What are your thoughts on crypto? Are you saving?
Overall markets and conditions
It's still impossible to tell the future. I thought AMD was going to keep gaining until $30 and then level off again early this week. I lost $46 total on these options, but everything is a learning experience. I'm fairly certain if I had allocated more time to research charts and news I would've done a different strategy.
Regarding cryptocurrencies, the recent spike in prices has sparked interest in mining again. Coincidentally, I restarted mining one week prior to the price hike. I'm only planning on holding my position or coins, I'm actually not mining for a profit. I truly believe these currencies will take over in the years to come. I'm mining with my main computer, and through Electroneum's cloud mining.
As you can see, I have received a few mobile miner payouts. My current balance equals about $5.5 USD. You can join me and the community here: Download the Electroneum App
Enter this QR code:
That's it! Start mining!
Great Performance for Low Cost
In this video I show the performance of this under valued card. This also allowed my to sell my still overpriced Nvidia GTX 1070 card I got with my new computer. It makes just under $0.05 less per day mining cryptocurrencies and I didn't lose much for framerates in my games either.
I bought the RX570 for $90 and sold my GTX 1070 for $200. Not a bad trade off while I save for the upcoming Ryzen CPUs and Navi GPUs.
AMD stock option results
Monday, Tuesday and Wednesday profits, ladies and gentlemen. Very happy with my call options and profits. I could have made a little more today, but decide to play safe. I do believe however, that AMD will continue to climb based on the good news of profitability.
Bitcoin has surged in price the passed two days as well, almost reaching $5,500 today. I didn't expect it to last though. It has already come down in price from today's high point. Funniest part, I think, is that recently started mining again (see post) just last week.
April 2019 Ccryptocurrency Mining
I like to think it doesn't make sense to save just one currency. In this video we take a look at mining with moderate computer hardware and saving the profits.
Cryptocurrency Mining - Why I still do it
This is a video I made last year of my computer mining a cryptocurrency called Electroneum. I was very excited to break this barrier. I kept modifying my code and parameters until I reached peak numbers.
I like to think it's how I got started in stock market trading. I was trading cryptocurrencies for another and selling, turning my small amounts into USD. Of course this all too soon crashed after everyone tried to "get rich quick."
Truth is, after you hear about something, it's already to late to cash in. Mining crypto for one month did in fact pay my bills during December 2017, but became a lost cause soon after.
Do you still hold any cryptocurrencies? What coin?
Do you believe crytpocurrencies hold any value in society? I think they are here to stay. People are just afraid of change and in 1000's of years this is the first time we'll could change how we buy things.
We are already looking at numbers on a screen to tell us what we're worth. The only difference is we can go to a bank or ATM and get "cash" if we choose to do so. Fiat currencies actually hold no real value, and are pretty much worth what we're told it's worth. Just watch any video about how money is made, and how the banks do it.
Subscribe to:
Posts (Atom)