Bitcoins - about to hit $5,000 per coin today!

[obsidian]

Its an 8gig. Thanks man. Appreciate the info. My buddy tore down his rigs and has a dhotnooad of 1080 cards. Maybe I can ask him for a few.

No problem. You'll have to tweak the GPU so it uses less power and overclock the RAM. Fan has to be set to about 60-70%. I flashed a custom BIOS to my RX580 cards but you can also set it with software I believe. Phoenix Miner is the one to use now or Team Red Miner. Claymore Miner stopped working. There are rumors the Russian mafia killed him lol! He's been making millions in fees off his Ethereum miner. All these miners have a developer fee of 1% or so. For 30 seconds every 1 hour I think the miner mines to their wallet. And then it goes back to your wallet.

If you can get the RX470 to mine at 29-30 MH/s and only use 90-100 watts it would be a good setup.

https://ethermine.org/start

This is an old video...

[obsidian]

Its an 8gig. Thanks man. Appreciate the info. My buddy tore down his rigs and has a shitload of 1080 cards. Maybe I can ask him for a few.

There is a TLB bug with the Nvidia cards. I think it affect the 1070, 1080 and 1080 ti cards. The 1070 ti cards are not affected. Basically as the DAG of Ethereum increased in size the performance of the GPU cards dropped and more power has to be used to get the hash rates up. There is no fix for it because it is a limitation of the hardware. Nvidia was contacted about this and that was their response. AMD was able to provide a fix for it. That being said I did notice a small drop in hash rate with the 1070 ti and RX580 cards. But not as much as my 1070 and 1080 ti cards.

https://forums.developer.nvidia.com/t/blockchain-drivers/110847/9

Robert_Crovella
Moderator
Aug 11
Here is the reply. Please note that I likely will not be able to respond to any follow-up questions about this. Therefore, if you ask a question, and I do not respond, that is the reason. I’m not permitted to share any more details than what is presented here:

We’ve confirmed that the performance drop is due to the size of the DAG exceeding the total on-chip TLB capacity on the Pascal GPU. As a result, there is an increased number of TLB misses, which affects performance. Because the TLB is a fixed capacity hardware resource, and the ETH algorithm accesses the DAG randomly, we don’t believe there are any software optimizations that could reduce the TLB miss rate.

In the Volta generation, TLB coverage was increased by 4x, and large DAG sizes (up to ~8GB, which won’t be reached for many years) will still fit in the on-chip TLB. So these newer GPUs (Volta and beyond) will show much less performance sensitivity due to DAG size

[Griffith]

http://www.coindesk.com/canadas-ci-global-files-for-what-would-be-worlds-first-ether-etf%3famp=1

Canada’s CI Global Files for What Would Be World’s First Ether ETF

If approved, the ETF would trade on the Toronto Stock Exchange under the ticker “ETHX.”

The world’s first ether exchange-traded fund (ETF) may be on the way, after CI Global Asset Management filed a preliminary prospectus in Canada on Thursday.

In an announcement, the firm said its proposed “CI Galaxy Ethereum ETF” would be the first ETF in the world to invest directly in ether, the native cryptocurrency of the Ethereum network.

If approved, the ETF would trade on the Toronto Stock Exchange (TSX) under the ticker “ETHX.”

Galaxy Digital Capital Management LP will act as the ether sub-adviser and execute trading on behalf of the ETF.

ETHX will invest directly in ether with its holdings priced using the Bloomberg Galaxy Ethereum Index, owned by Bloomberg Index Services.

“Ethereum is the leading candidate to be the base layer of Web 3.0, and ether is a growth asset that provides investors exposure to the explosion of decentralized applications,” said Mike Novogratz, chairman and CEO of Galaxy Digital, in the announcement.

[Bindare_Dundat]

Seems like some acclerated panic selling and profit taking going on. This is going to get ugly if a small bounce gets rejected. Both look like possible  reverse cup and handle patterns forming. Bearish.  Then the FUD will really start. Snowballing effect. How many will still be buying on the dip?

Still holding my btc. All my eth now gone. That might change over the next few days.

[Griffith]

http://www.financemagnates.com/cryptocurrency/news/grayscale-buys-ethereum-dip-as-eth-drops-below-1600/amp/

Grayscale Buys Ethereum Dip as ETH Drops Below $1,600

The crypto asset manager purchased 15,521 Ethereum in the last 24 hours.

Grayscale, the world’s largest digital assets manager, purchased nearly $25 million worth of Ethereum (ETH) in a single day after the price of ETH dropped below $1,600. ETH has dipped nearly 20% in the last 5 days.

According to the latest data published by crypto analytics firm, Bybt.com, Grayscale has accumulated a total of 15,521 ETH in the last 24 hours in an effort to take advantage of the recent crash in ETH. As of writing, the world’s second-largest cryptocurrency is trading near $1,600 with a total market cap of $185 billion.

The crypto asset manager now holds 3.17 million ETH with a total value of more than $5.1 billion. Grayscale purchased 238,784 ETH in the last 30 days. The firm reopened its ETH Trust in late January 20Grayscale has accelerated its efforts to accumulate ETH in the last few months.

Recently, the company released a report on ETH and highlighted the potential benefits of ETH 2.0. Michael Sonnenshein, CEO of Grayscale mentioned in December 2020 that the institutional interest in ETH-related investment products has grown significantly.

Grayscale’s total digital assets are valued at approximately $38.7 billion. The value of the company’s digital assets has dropped by more than $4 billion in the last 5 days. Despite the recent dip, Grayscale’s crypto assets have grown significantly since the start of 2021 as the company started this year with $20 billion worth of digital assets under management.

[obsidian]

I do like Bitcoin and will get some when alt coins have caught up a bit. I feel like the BTC market cap is just too dominant right now. Also the potential return on investment will be less compared to smaller market cap alts like Cardano. Cardano has been on a roll lately. 72% of Cardano is staked which helps to keep the price stable.

https://www.arabianbusiness.com/banking-finance/459254-dubai-crypto-fund-says-to-dump-750m-worth-of-pretty-useless-bitcoin

Dubai-based FD7 Ventures, a global crypto investment fund with $1 billion under management, on Friday announced plans to sell off $750 million worth of its Bitcoin holdings over the next 30 days to increase positions in Cardano and Polkadot.

According to the company, the increase in these altcoin holdings will better serve the needs of FD7 investors who are looking to diversify their portfolios in the growing cryptocurrency space.

“Aside from the fact that Bitcoin was first to market and society has given it meaning as a store of value, I think Bitcoin is actually pretty useless,” said Prakash Chand, managing director at FD7 Ventures.

“Projects such as Cardano, Polkadot and Ethereum are the foundation of the new internet and Web 3.0,” he added.

The FD7 Ventures announcement comes as the value of Bitcoin slumped by more than 9.5 percent in the past 24 hours following the cryptocurrency’s recent surge to record highs.

The price of of the cryptocurrency is now valued at just above $46,000, down from $51,600 a day before.

The cryptocurrency reached an all-time high of $58,000 on Sunday as a series of institutional investors put their weight behind the controversial blockchain technology.

Chand, previously founder of Ask The Doctor, and Q Dhalla launched FD7 Ventures earlier this month, aiming to help investors looking to diversify their portfolios into the growing cryptocurrency space.

Investors are looking at safe havens in everything from lumber to sugar to bitcoin as the dollar depreciates.

“I’ve been lucky enough to spend lots time with the brightest minds in crypto and I’m willing to bet that each of Ethereum, Cardano and Polkadot will be more valuable than Bitcoin within the next few years,” said Chand.

Both the founder of Cardano, Charles Hoskinson, and the founder of Polkadot, Dr Gavin Wood, were part of the original seven co-founders of Ethereum.

In their current roles, Hoskinson and Wood lead projects that are regarded as having the potential for significant worldwide impact, added Chand.

FD7 Ventures, which also has offices in Toronto, said it has already begun the process of converting their Bitcoin to Cardano and Polkadot and expects to complete the conversion transactions next month.

Chand said earlier this month: “Being a purchaser of bitcoin and other cryptocurrencies since 2011, I have watched the industry mature. From family offices, to business leaders and entertainment figures, we are seeing an increased demand for investment alternatives. As the space grows, execution risk remains in both storage and custody, and vetting of credible investment alternatives. Our mission is to offer a de-risked and credible path for seasoned investors to enter the space.”

The company said it has made its first three investments in projects based out of Toronto and Dubai.

[Bindare_Dundat]

CARDANO doing well. Up over 30% since getting in. So glad I got out of Ethereum when I did.

[obsidian]

CARDANO doing well. So glad I got out of Ethereum when I did.

Yes it is doing well. There could be a correction after March 1st when the Mary Hard Fork is released. All the hype is building towards that date. I'll be buying more ADA in the dip. Ethereum will still make moves but Cardano was the main asset that moved up the past few days.

Charles Hoskinson is cocky but very smart. Listen to his thoughts here on Ethereum 2.0

[Griffith]

I also have some ADA.

What are your views on Polkadot?

[Bindare_Dundat]

Yes it is doing well. There could be a correction after March 1st when the Mary Hard Fork is released. All the hype is building towards that date. I'll be buying more ADA in the dip. Ethereum will still make moves but Cardano was the main asset that moved up the past few days.

Charles Hoskinson is cocky but very smart. Listen to his thoughts here on Ethereum 2.0

Why would it drop after the hard fork?

[Bindare_Dundat]

I also have some ADA.

What are your views on Polkadot?

I'm not familiar with polkadot but I do know Ethereum is losing people to both ADA and polkadot for the time being.

[Bindare_Dundat]

I follow this guy.

No screamming, no fast talking, no hype. Very good investing advice, imo.

[polychronopolous]

I wouldn't be surprised to see eth drop significantly lower  for the short term

I wouldn't be surprised if Cardano passes up Ethereum in market share over the next 12 months.

Of course with Bitcoin you don't have to worry about this because it stands alone and has a giant moat.

I expect a dog fight between that next tier which includes Ethereum, Cardano and Polkadot. I wish the best of luck for people who choose to speculate on who comes out on top.

[Bindare_Dundat]

I wouldn't be surprised if Cardano passes up Ethereum in market share over the next 12 months.

Of course with Bitcoin you don't have to worry about this because it stands alone and has a giant moat.

I expect a dog fight between that next tier which includes Ethereum, Cardano and Polkadot. I wish the best of luck for people who choose to speculate on who comes out on top.

 I'm not concerned with bitcoin. Its a long term investment and it will do well for those holding.
If ETH continues this slow bleed for the next week or so, I think.its possible to see a dramatic drop down as more people shift their money around to alternatives.

Potential for $1100 Eth is a real possibility  imo.

[polychronopolous]

I'm not concerned with bitcoin. Its a long term investment and it will do well for those holding.
If ETH continues this slow bleed for the next week or so, I think.its possible to see a dramatic drop down as more people shift their money around to alternatives.

Potential

 $1100 Eth is a real possibility  imo.

It wouldn't surprise me.

A few years ago it was Neo, EOS, IOTA, Tron and others that were "all the rage" and youtube videos were being produced with these fantastical price predictions (based on very little fundamental value imo)

Ethereum is not immune to this because of the competition it is surrounded by.

Bitcoin has no competition so long time holders don't have to worry about that.

[Griffith]

https://dailyhodl.com/2021/02/27/crypto-giant-grayscale-buys-709000000-in-bitcoin-and-ethereum-in-less-than-a-month/

Crypto Giant Grayscale Buys $709,000,000 in Bitcoin and Ethereum in Less Than a Month

Digital asset manager Grayscale has added hundreds of millions of dollars worth of Bitcoin (BTC) and Ethereum (ETH) to its crypto portfolio in the last few weeks.

According to crypto trading and intelligence platform Bybt, the crypto behemoth tallied up an additional 7,280 BTC worth $348.28 million and 240,000 Ethereum worth $361.5 million to its crypto holdings from February 1st to February 26th.

In total, Grayscale pushed its total GBTC and ETHE holdings by $709.2 million this month.

As for the company’s Ethereum Trust (ETHE), Grayscale started the month of February with 2.93 million ETH in its portfolio. By February 26th, the company pushed up its total ETH holdings to 3.17 million.

[Teutonic Knight]

How is fake coins situation in Nairobi (Kenya) 

[obsidian]

It wouldn't surprise me.

A few years ago it was Neo, EOS, IOTA, Tron and others that were "all the rage" and youtube videos were being produced with these fantastical price predictions (based on very little fundamental value imo)

Ethereum is not immune to this because of the competition it is surrounded by.

Bitcoin has no competition so long time holders don't have to worry about that.

Funny thing is EOS and TRON were labeled Ethereum killers. Look where they are now. Ethereum has been around since 2013. Cardano came out in 2017 and the price tanked from a high of $1.50 or so down to a few pennies in 2018-2019.

Also right now people are buying ADA on the hype. It does not have any real projects running so we'll have to see how it performs in the real world.

Hoskinson claims governance makes it better than Ethereum and Bitcoin. Note that both Bitcoin and Ethereum do not have governance built in. Go read up on the pros and cons of governance. It is not a sure bet that it is a superior method to roll out updates.

There are also rumors that Cardano scammed a bunch of Japanese investors. They did an ICO in Japan to avoid the SEC calling them a security. You could never mine ADA. So it is like XRP in some ways where an initial coin or token offering was launched.

The SEC has already claimed that Ethereum and Bitcoin are not securities.

[obsidian]

I also have some ADA.

What are your views on Polkadot?

I have not looked into it much. Can't buy it on Binance and the Coinbase fees are too damn high to get in on it for me. I wish Binance offered it. But they probably want to push their Binance Smart Chain. I would not be surprised if Binance starts playing dirty with Cardano like they did with Ethereum once Cardano is live with their projects. Remember Binance stopped Ethereum trading recently for a period with the lie that it was congested - which it was not. Binance basically forked Ethereum and centralized it for the speed and lower fees. So how can you call something DEFI or Decentralized Financing when it is Centralized? That's CEFI! Like banks and lenders which we are trying to move away from!

The Polkadot founder also split from Ethereum like the Cardano founder. All three including Buterin are rock stars in the crypto space.

There's billions or even trillions of dollars to share and I think there should be a good spirit competition. Nobody wants to see millions of investors lose all their holdings because one guy or group tries to destroy the other guy. That shit talking could lead to death threats or even worse if many are financially harmed because of some major FUD. The Polkadot guy is not talking as much shit as Hoskinson as far as I am aware. I'll have to read up on him more he is very academic with a PHD i think.

[obsidian]

Why would it drop after the hard fork?

Because that is the hype that is causing the run. And nothing goes up forever. You think Cardano is the only one going 10x from here while everything else is sitting on the sidelines? I have ADA myself but don't see only ADA doing well at the expense of other projects.

Remember Cardano has not even yet hit ATH from 2018. Ethereum and Bitcoin already went past their ATH. That reason and all the hype is why it is shooting up at the moment. Combine that with a lot of Ethereum FUD and there could be a correction after hard fork because then it has been done and what do you hype now?

Also 72% of ADA is staked. That is why ADA did not do so bad recently compared to other cryptos. Because people that panicked literally could not sell their ADA like Bitcoin, Ethereum and other holders could. Their ADA is locked up in staking.

Actually it looks like ADA has already corrected. It was $1.47 a few hours ago and now $1.35. Boy would you feel like a fool converting ETH to ADA right when ADA was at $1.47.

That being said I do plan on getting more ADA and BTC. I am heavily weighed in ETH and need to spread it out a bit. I'll be looking for dips to make another entry.

[Bindare_Dundat]

Because that is the hype that is causing the run. And nothing goes up forever. You think Cardano is the only one going 10x from here while everything else is sitting on the sidelines? I have ADA myself but don't see only ADA doing well at the expense of other projects.

Remember Cardano has not even yet hit ATH from 2018. Ethereum and Bitcoin already went past their ATH. That reason and all the hype is why it is shooting up at the moment. Combine that with a lot of Ethereum FUD and there could be a correction after hard fork because then it has been done and what do you hype now?

Also 72% of ADA is staked. That is why ADA did not do so bad recently compared to other cryptos. Because people that panicked literally could not sell their ADA like Bitcoin, Ethereum and other holders could. Their ADA is locked up in staking.

Actually it looks like ADA has already corrected. It was $1.47 a few hours ago and now $1.35. Boy would you feel like a fool converting ETH to ADA right when ADA was at $1.47.

That being said I do plan on getting more ADA and BTC. I am heavily weighed in ETH and need to spread it out a bit. I'll be looking for dips to make another entry.

Appreciate the response.

[Griffith]

Investment Firm Launches the First 'Crypto Hedge Fund' in Spain- Plans to Expand Across Europe, Latin America

In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.” The product has been registered in Malta by Avenue Investment Crypto, headed by a crypto advocate, Martin Huete.

Investments Allocated Mainly in Bitcoin and Ethereum.

The investment company seeks to promote the fund across Spain, Portugal, and North Europe. Moreover, the second stage targets Latin America and the rest of Europe.

According to Infobae, the hedge fund “exclusively” targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900).

The fiat serving as base currency fund is the euro, and Avenue Investment Crypto clarified all profits accrue.

Firm Expects to Raise $122 Million by the End of 2021.

https://news.bitcoin.com/investment-firm-launches-the-first-crypto-hedge-fund-in-spain-plans-to-expand-across-europe-latin-america/

[FitnessFrenzy]

$ 44,752.16

[affeman]

Party is over, 2k by the end of the year

[Bindare_Dundat]

Party is over, 2k by the end of the year

lol, hardly over.

Again, people were cheering when it passed the 20,000 ath. Then 30, then 40. Many seem to forget just how high its climbed and how quickly. Its a major achievement.  No doubt, if you bought near the top, you're not too happy about the current situation but people need to again be reminded that 30 to 40 percent corrections and the following climb from that to new ath is nothing new.

If it can bounce off the 42000k area  it will most likely head to new highs again by the summer. If not, theres a good chance this bull cycle will cool off considerably as most people who entered late head for the exits and things snowball. Overall though, BTC isnt going anywhere and the next cycle will exceed this current one in regards to ath's. 


The 1.9 trillion dollar stimulus will be a factor as well.