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Crypto Market is crashing

Discussion in 'General' started by 2e522d44, Apr 10, 2018.

  1. 2e522d44
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    2e522d44 Full Member

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    Wow guys the whole crypto market is crashing.. Crazy to think btc was worth 20k like 3 months ago..
     
    #1
  2. LW001
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    LW001 Last Mod Standing Moderator Wiki Contributor Beta Freedom! Member

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    Well the stuff comes with a risk, it will probably recover sooner or later as it has for years...
     
    #2
    Last edited: Apr 11, 2018
  3. zeke morgan
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    zeke morgan Retired Moderator Retired Moderator Freedom! Member

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    Well that's what you get when you invest in a crypto currency that isn't backed or guaranteed against anything.
     
    #3
  4. TheGreatishJimmy
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    TheGreatishJimmy Rising User

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    General advice for any crypto is don’t put in any more money than you’re willing to lose. Making investment choices for mining can be especially difficult because your ROI on parts will change with the market prices.
     
    #4
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  5. RyanSellers
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    RyanSellers Freedom! Celebrity Verified Freedom! Partner Freedom! Member

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    If you check the past years of the BTC graph it always goes down around this time of the year every year. It mainly goes up in October or November time.

    Also the stock market is down too.
     
    #5
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  6. Stefan Grant
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    Stefan Grant Staff Member Staff Member Moderator Beta Freedom! Member

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    As Ryan says this is pretty normal I am not to worried about it I am pretty sure it'll recover. As always do not put in more than you can afford to loose and do not panic sell everything goes down after Christmas and i expect it to start to climb again properly around May then make big jumps as we approach year end.
     
    #6
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  7. TheGreatishJimmy
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    TheGreatishJimmy Rising User

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    I'm seeing a lot of predictions and speculation that it would top 20k, some of the more far out ones even say 100k or other six-figure numbers by the end of this year. Monero is also really profitable to mine right now because of a recent hard fork to prevent ASIC's from entering the market. So if y'all can mine that it's probably gonna be more profitable for a while.
     
    #7
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  8. DostThouEvenDerp
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    DostThouEvenDerp Rising User

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    The best thing to do now is mine it anyway. Why? Because when it comes back around and the value increases you will immediately make back the time you spent anyway as the value climbs.

    The same thing happens with gold and precious metals and jewelry. Buy low, sell high.

    I am a metal detectorist. I have to know when to sell my gold and silver items. You only sell when it is of greatest profit, you hold onto stuff when the value goes down and wait for the turn around.

    Using the Miner costs us nothing but use of our time anyway. We aren't investing anything but time. Freedom is handling the money bits!! Dont worry Freedom Family! We will see a turn around eventually!
     
    #8
  9. TheGreatishJimmy
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    TheGreatishJimmy Rising User

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    There's a few ways to lose money with mining. The first concern is the investment in hardware. If you don't already own the hardware, you have the purchase price of the graphics cards to mine, and the computer to put them in and all that. Then you have the electricity cost of running that computer 24/7 -the average for the US is about 12 cents per kilowatt/hour. If the coin you mine loses it's value too quickly or the difficulty is so high you don't get any payout then you start losing money, and it can happen really quickly.
     
    #9
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  10. DostThouEvenDerp
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    DostThouEvenDerp Rising User

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    I have been using the miner consistently for the past week while I sleep and evry morning there has been an increase in the ZEC numbers. My estimated daily earnings were 0.31-0.35 USD last week and now those have gone up to 0.42-0.43 USD. So it might be on the upturn?? Lets hope so!!! Im still gonna keep using it because as the currency gains value anything I have already mined at low value will be worth more anyway! Hooray!
     
    #10

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