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#181
ZeApelido said:
Thanks for the TRX tip. I bought Ripple at 0.23, unfortunately only a piece of about 6 altcoins I put into. Great returns, but when does it near "true value"?

I have no idea how to attribute value to these currencies!
Click to expand...

No problem! I'm hoping to help people make some money here. I personally am vested in Ripple and Tron and so I wouldn't mention something unless I actually have skin in the game. TRX is currently #8 on the coin market cap website and now at .20 since my post yesterday.

Great question in terms of value. At this stage in the game it is all about utility. 2017 was all hype. 2018 is about utility. The altcoins that have no use case will die off. The ones that have a use case will go to the moon.

If you are asking how much something should be worth? It's a free market and it's worth what people are willing to pay for it.

If you are asking how can I determine if a coin has value or not? The best thing to do is to check the website, read the whitepaper (most have a whitepaper), take a look at the vision of the company/coin. Does it have a solid team? Who is involved? Any significant names? Is progress being made? How is the community? Is the Reddit page active? How is the CEO? Is the product going to disrupt an industry or multiple? All these things add up to create value. It helps also just to get other's opinions. Hey what do you think of this? Some people might know something I don't know.

In Ripple's case, it's not surprising that it is rising in value and will continue to do so (it has to, to actually function properly, banks are going to need XRP to have a load of liquidity). The team solid, CEO is awesome, their product has extreme high utility, especially with corporate and financial institutions moving lots of money cross border. The utility explained on their website makes Ripple (XRP) valuable. They are getting press coverage, CEO has been on CNBC and Bloomberg multiple times. Good signs of something that has a future.

In Tron's case. For me personally, the vision really skyrocketed in value (in my personal eyes) in the last 48 hours especially after what happened with that Logan Paul situation recently with the posting of a dead body from suicide forest on YouTube. You realize how much centralized power this platform (YouTube) has when they did nothing, no ban, no suspension. So a decentralized content creation platform built upon the Tron protocol would and could put YouTube to the grave. Extremely disruptive in just ONE use case. Tron has many multiple use cases. The CEO is also founder of Peiwo (which has 10 million+ active users) which is like the Snapchat of China. And is a protege of Jack Ma. So far when Justin has made announcements on Twitter, he has followed through, time and time again. Good sign of a good CEO.
 
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#182
So, as someone who has no interest in gambling in something that I don't think has actual value. If I can easily use my unused gaming rig at home to mine something worth more than the electric it takes to mine it, then I'm game.

Any pointers? Based on a buddy of mine doing the same thing I'd likely just pick Etherium.
 
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#183
Bebop said:
No problem! I'm hoping to help people make some money here. I personally am vested in Ripple and Tron and so I wouldn't mention something unless I actually have skin in the game. TRX is currently #8 on the coin market cap website and now at .20 since my post yesterday.

Great question in terms of value. At this stage in the game it is all about utility. 2017 was all hype. 2018 is about utility. The altcoins that have no use case will die off. The ones that have a use case will go to the moon.

If you are asking how much something should be worth? It's a free market and it's worth what people are willing to pay for it.

If you are asking how can I determine if a coin has value or not? The best thing to do is to check the website, read the whitepaper (most have a whitepaper), take a look at the vision of the company/coin. Does it have a solid team? Who is involved? Any significant names? Is progress being made? How is the community? Is the Reddit page active? How is the CEO? Is the product going to disrupt an industry or multiple? All these things add up to create value. It helps also just to get other's opinions. Hey what do you think of this? Some people might know something I don't know.

In Ripple's case, it's not surprising that it is rising in value and will continue to do so (it has to, to actually function properly, banks are going to need XRP to have a load of liquidity). The team solid, CEO is awesome, their product has extreme high utility, especially with corporate and financial institutions moving lots of money cross border. The utility explained on their website makes Ripple (XRP) valuable. They are getting press coverage, CEO has been on CNBC and Bloomberg multiple times. Good signs of something that has a future.

In Tron's case. For me personally, the vision really skyrocketed in value (in my personal eyes) in the last 48 hours especially after what happened with that Logan Paul situation recently with the posting of a dead body from suicide forest on YouTube. You realize how much centralized power this platform (YouTube) has when they did nothing, no ban, no suspension. So a decentralized content creation platform built upon the Tron protocol would and could put YouTube to the grave. Extremely disruptive in just ONE use case. Tron has many multiple use cases. The CEO is also founder of Peiwo (which has 10 million+ active users) which is like the Snapchat of China. And is a protege of Jack Ma. So far when Justin has made announcements on Twitter, he has followed through, time and time again. Good sign of a good CEO.
Click to expand...
I’d like your opinion on the best platforms/steps you use to purchase these alt coins. I spent some time trying to figure out the best method and it is actually surprisingly difficult. It is much much harder than it should be and I am sure is a barrier keeping many potential investors on the sideline. I am in Canada and, for example, I can buy cryptocurrency on Coinbase but can’t sell it.
 
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#184
pz1975 said:
I’d like your opinion on the best platforms/steps you use to purchase these alt coins. I spent some time trying to figure out the best method and it is actually surprisingly difficult. It is much much harder than it should be and I am sure is a barrier keeping many potential investors on the sideline. I am in Canada and, for example, I can buy cryptocurrency on Coinbase but can’t sell it.
Click to expand...

Binance has worked well for me so far. Transfer from Coinbase / GDAX.
 
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#185
Xenius said:
So, as someone who has no interest in gambling in something that I don't think has actual value. If I can easily use my unused gaming rig at home to mine something worth more than the electric it takes to mine it, then I'm game.

Any pointers? Based on a buddy of mine doing the same thing I'd likely just pick Etherium.
Click to expand...

i am using WinMiner (https://web.winminer.com) to mine using a spare desktop. It mines some of the smaller coins and then i can cash out to either Paypal, amazon, or another crypto.
so i have been mining then cashing out to Litcoin on my Coinbase
 
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#186
ZeApelido said:
Binance has worked well for me so far. Transfer from Coinbase / GDAX.
Click to expand...

I signed up for binance but with two factor authentication via sms, it took up to 2 hours to receive the verification code to login today. Signed up for coinbase and tried to get verified using my drivers license and it got stuck on the verification page for 2 hours with no success. Opened up an account with kraken and can’t even log in bc keep on getting bad gateway error. I’m sure all these sites are overwhelmed with the recent volume of new users but it doesn’t inspire confidence, especially when one wants to cash out in the future. Can anyone recommend a site that is reliable?
 
Last edited:
#187
pz1975 said:
I’d like your opinion on the best platforms/steps you use to purchase these alt coins. I spent some time trying to figure out the best method and it is actually surprisingly difficult. It is much much harder than it should be and I am sure is a barrier keeping many potential investors on the sideline. I am in Canada and, for example, I can buy cryptocurrency on Coinbase but can’t sell it.
Click to expand...

Great Question.

So it depends on the alt coin you are talking about.

Most are on Binance, which is nice.

So what I do is I have a coinbase account. Let’s say for example I want to buy XRP (Ripple), as an example. Easiest way to get that is through Binance. Other exchanges have taken forever to verify me. I’m still not even versed on Kraken many weeks later...
______________________________

1.) So what I do is I buy bitcoin with a debit card on Coinbase for instant delivery into my account. If you do a bank transfer it will take days. If you are buying $700 or under, then the debit card route works great. Anything over that, I’d do a wire through GDAX (much cheaper to do than on Coinbase and done same day in hours if done before 3pm Central time). You can literally loginto GDAX with your coinbase credientials.

2.) So I now I have Bitcoin in my Coinbase wallet. I then login into GDAX. Inside GDAX I click on the deposit button on the upper left side. Then click on Coinbase Account. Choose your source which is BTC Wallet, enter the amount and click deposit funds. It’s instant and free.

3.) Now the Bitcoin from Coinbase is in my GDAX account.

4.) Then I login into Binance. Go to the top and scroll over “Funds”. A drop down menu appears. Click on “Deposit Withdrawals”. You’ll see a whole list of different Coin. Scroll over Bitcoin and click on the “Deposit” button. Your BTC Deposit Address should pop up. You highlight and copy the address.

5.) I go back to my GDAX tab in my browser. I click on Withdrawal button on the upper left hand side. Then a pop up windows shows up and click on “BTC Address”. Then you paste the address in the destination box. Set the amount you want to send, if you want to send all, click on the “MAX” button. Then click on the big Withdraw Funds blue button.


Why do I go through GDAX in an extra step? The transfers are free. If you transferred to Binance from Coinbase, you’ll be charged fees.

6.) Now we wait. Might take a while. If you go back to Binance. Go to “Funds” and then click on History. This is where you will see the deposit made. So refresh your browser every so often. Eventually you’ll see it pop up and it might say something like “1/2 Confirmation” in Yellow text. Eventually completing confirmation and now the bitcoin is in Binance. Depending on congestion of network it could take an hour or so. Maybe less.

7. With funds in Binance account. I’ll scroll over the top menu bar and go to “Exchange” and click on “Basic”. Your ready to buy. If you know the 3-4 letter code for the alt coin you can search for it. In this example Ripple is “XRP”. So you’ll see “XRP/BTC”. We are exchanging Bitcoin (BTC) for Ripple (XRP). Search bar is on the right hand side.

8.) I’ll do a limit order. But to make it easier on you, you could do a market order, which means you are buying at whatever the current price is. Click on the 100% then click on the green button and boom you should now have it and it has been processed. Scroll down the page and you’ll see a order history and check the status. “Filled” means it’s went through and whatever you bought is in your Binance account.

After all said and done. I highly recommend right away storing it in a physical wallet like a Ledger Nano S or a Trezor. The Ledger supports more coins. Trezor at the moment supports a handful.


Yeah I know it seems like a lot of steps. But until Coinbase starts adding way more Alt coins, this is pretty much my only way to do it personally.
 
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#189
ongba said:
I signed up for binance but with two factor authentication via sms, it took up to 2 hours to receive the verification code to login today. Signed up for coinbase and tried to get verified using my drivers license and it got stuck on the verification page for 2 hours with no success. Opened up an account with kraken and can’t even log in bc keep on getting bad gateway error. I’m sure all these sites are overwhelmed with the recent volume of new users but it doesn’t inspire confidence, especially when one wants to cash out in the future. Can anyone recommend a site that is reliable?
Click to expand...

Try using the Coinbase app to verify your ID. That was the only way I could get it to work.
 
#192
jvmoore1 said:
no it is PC only. Not sure if there is something like WinMiner for Mac.
NiceHash was another program i was looking into, but they were hacked shortly before i got my video card. Again, not sure if they have a MAC version.
Click to expand...

I wonder if the coins earned from mining are worth it from a energy used perspective?
I am running winminner on a old gaming rig in basement and over night I "made" about $1.50
 
#193
Unpilot said:
I wonder if the coins earned from mining are worth it from a energy used perspective?
I am running winminner on a old gaming rig in basement and over night I "made" about $1.50
Click to expand...

That has always been the key calculation in mining. I messed around with it back in early 2014, but my electricity costs were too high for it to be worth it. There are some calculators out there that you can enter in what you pay per kWh vs your graphics card hash rate/power consumption for various coins and you can see the break even point.

Now, if you have some excess solar production you can use......
 
#195
It just occurred to me.. Every AP2/2.5 car has a pretty beefy CPU/GPU platform...which just sits idle 100% of the time when not driving. Imagine a mining pool of every one of those cars using that platform for mining when connected to shore power only (not superchargers, that is). You could have an option on the main screen "Join Tesla Mining Pool" and the car would do the rest. Your credits would accrue in the My Tesla "wallet" which you could then transfer to any crypto exchange to turn into real cash.

Now imagine if Tesla was already doing this in the background? :)
 
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#196
HankLloydRight said:
It just occurred to me.. Every AP2/2.5 car has a pretty beefy CPU/GPU platform...which just sits idle 100% of the time when not driving. Imagine a mining pool of every one of those cars using that platform for mining when connected to shore power only (not superchargers, that is). You could have an option on the main screen "Join Tesla Mining Pool" and the car would do the rest. Your credits would accrue in the My Tesla "wallet" which you could then transfer to any crypto exchange to turn into real cash.

Now imagine if Tesla was already doing this in the background? :)
Click to expand...
reminds me of this
Tesla owner builds a bitcoin mining rig in a Model S to use free Supercharger power
 
#198
Unpilot said:
I wonder if the coins earned from mining are worth it from a energy used perspective?
I am running winminner on a old gaming rig in basement and over night I "made" about $1.50
Click to expand...
i am getting around 3.00/day. but, it is running on a system that would be running either way. im def not planning on getting rich off mining especially since i am only running one video card, but it is at least a little something extra
 
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