Bitcoin...Cryptocurrency

[In-Yo-Grill]

My debit card has a $750/week limit.


Skinny

Once you start buying it ups your limit. My limit is WAY more than what I want it to be. I could get in trouble real easy.

Good think I have AtTheWall to keep me in check.

Just kidding homie. I'm sure you mean well and appreciate your input whether I agree with it or not.

[8mpg]

Anyone know how this hits a credit card? Is it a cash advance or a purchase?

[In-Yo-Grill]

Anyone know how this hits a credit card? Is it a cash advance or a purchase?

Mine shows up as a purchase. In a perfect world I could just use my debit card as a means to transfer USD but it doesn't work that way.

[jkg2003]

Well, ripple hit my sell limit of .000800 and triggered a sell. I bought in at $.70 or so and sold at $1.24 or so Now like stocks, I hope I didnt shoot myself in the foot



Well, I just had my first limit triggered and sold my ripple...so I'll explain

A limit just states what you are willing to buy or sell at. So I set my ripple to .000800btc. I set that price last week and when the price went high enough to meet my limit (.000800btc/ripple) it triggered to sell. Im now going to set a buy limit at a lower amount (say .0007500) to buy the ripple. When ripple dips to that amount or below, it will automatically buy ripple for me.

That is a stop limit, and I understand that, what website are you using to buy and sell? On Binance, there are 3 options to buy and sell. Limit, Market, and Stop Limit. What you are talking about is a stop limit, Im trying to figure out what just the limit option is.

[Samson]

can someone explain Mining to me? Why do it? What does it do? How is it done?
can any crypto-currency be mined?

What: Mining is using a piece of computer hardware to help confirm the transactions on a particular crypto-currency network. It is also a a way to distribute the initial coins, as you get a reward of coins for every block solved. The current reward for BTC is 12.5 BTC per block rewarded to the miner who solves the block, plus all the fees from all the transactions confirmed in that block.
Why: you get paid a reward for your work.
Anybody can point hardware at a crypto algorithm and help solve the blocks that process the transactions. This creates a decentralized system that keeps the crypto network immune from attack, as the workers are spread out and not in 1 location.

Only proof of work coins are mineable. There are several proof of stake coins out there such as NXT, where all the coins were created and distributed to various initial stakeholders. Those algos still mine, but In a different way where you have to have coins to mine coins. It's not about the hardware with those coins.

Every proof of work algorithm has a set amount of time that they would like for a block to be solved and transactions confirmed. For example, Bitcoin is every 10 minutes. If the mining rate increases, and the block time drops below 10 minutes , then the algorithim adjusts the difficulty, which drives the block solving time back up to 10 minutes. If the block time increases above 10 minutes , then the difficulty adjusts back down to decrease the block time. Bitcoin adjusts difficulty about every 2 weeks. Because of pool hoppers, most newer coins will adjust difficulty every couple of minutes. Because the difficulty gets higher with the more people that are mining, people will pool their resources into a mining pool. This way you get a more consistent payout, as you are sharing the rewards with everyone that is in the pool, based on the amount of work you put in.

Ether and the cryptonight coins are the most popular with home miners these days, as Bitcoin mining has gotten so competitive and difficult that home hardware isn't efficient to mine anymore. Most people at home mine CPU coins or coins that they can mine with GPUs (video cards). Ether is one of the few that you can actually dual mine other coins at the same time to increase your daily profit.

I started mining Bitcoin in 2011/2012, right at the changeover from CPU to GPU. My biggest mistake was selling my miners when I couldn't mine more than 1 btc per day. While it was unprofitable at the time, today it would have been like mining 15k bucks per day! Back then I was taking a $5 per day loss in electricity. So when I hear people say that today, just remember it doesn't matter, cause in 5-10 years the price is going to be way different than today...

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[Samson]

Tip of the Day

Intense Coin ticker = ITNS

It's only on 1 exchange now because it's new. Stocks.exchange.

It's a coin that will allow for a true anonymous decentralized VPN network over it's block chain. It was only 30 satoshis last week, and hit 190 satoshis today, this coin is still very cheap. If the VPN works out, this thing will get huge in China, as the great firewall can't block the network.

They have a website , and a white paper. I suggest you read up on it if you want to invest.



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[Skinny]

My tip of the day

HODL


[emoji23]


Skinny

[LROSE]

My tip of the day

HODL


[emoji23]


Skinny

IT PAYS interest !!! HECK YEAH !!!

[Skinny]

IT PAYS interest !!! HECK YEAH !!!

Oh ****! Haha. That’s not what I meant. Lol

I meant to hold your coins! [emoji23]

HODL is a term meaning hold in the crypto world. Some drunk investor spelled it wrong one day and it caught on fire.


Skinny

[Jtrage]

My debit card has a $750/week limit.


Skinny

Mine started at $300, went to $750 after about a week and then said it would go up again after 28 days.

Plus it immediately starts going back up incrementally.


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[8mpg]

That is a stop limit, and I understand that, what website are you using to buy and sell? On Binance, there are 3 options to buy and sell. Limit, Market, and Stop Limit. What you are talking about is a stop limit, Im trying to figure out what just the limit option is.

I think you're confused....here is a good video that explains it:

https://www.youtube.com/watch?v=ra9dKSyviLM

A stop limit reaches a threshold (whatever you set) before your limit order is set on the board to buy/sell. When the limit threshold is reached, it will execute the sale/buy

[Samson]

My tip of the day

HODL


[emoji23]


Skinny

To the Moon !

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[Skinny]

Mine started at $300, went to $750 after about a week and then said it would go up again after 28 days.

Plus it immediately starts going back up incrementally.


Sent from my iPhone using Tapatalk

Oh trust me. I know! [emoji23]

I’ve tried to limit myself for sure but I have a certain money amount I’d like to invest in this crap. I think I was about 8 days late clicking on this thread as far as quick gains go. I’ve done pretty good so far tho.


Skinny

[texansfan]

Someone on here was mining for coins but can't remember who it was.

I gave my brother 2 old PC's so he could start mining some of the alt coins. Need to ask him if he ever pursued it. Probably bought his own island by now and won't return my calls.

I still mine Ethereum
I convert the ether into xrp

I just do it as a hobby
Not trying to get rich (I'm sure I'd make more money gambling riding the waves)

[Skinny]

To the Moon !

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Oh man! You must be on that Verge FB Group too!!!!

Those fools are plain dumb! Talk about millennial drama!


Skinny