ST Alpha - "Honestly you need to treat this like gambling. Take some money that you expect to lose. If you don't then good. But expect to lose it and you won't" (Reading a Post)

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In response to "Some quick thoughts on cryptocurrency and where my head is at on this... -- (edited)" by David

Honestly you need to treat this like gambling. Take some money that you expect to lose. If you don't then good. But expect to lose it and you won't

Posted by Bacon (aka redmond) Dec 30 '17, 20:11

get hurt. I am looking at the mining side of this. I might toss a few bucks into straight currency. But I would rather have a few miners that I can convert via software to go after the coins I think are going to pop.

Responses:

That's perfectly valid, too. I debated it, but it felt like the $600 for the machine would be better spent on actual coins. -- nm - David Dec 30, 20:12 6
- That's true, but I like building PCs so the hobby aspect would make it fun for me. Checking and seeing if I made a coin would be like gold panning - Bacon Dec 30, 20:16 5
  - If you pay your own electricity bill, your highest priority will become reducing that cost. Quickly. -- nm - Beryllium Dec 30, 20:21 4
    - kilowatts are 8 cents here, 36? in CA its 4 cents in Iceland and Ukraine (from a quick google) -- nm - zeitgeist Dec 30, 20:29 3
      - Ranges from 8 to 12 cents Canadian in BC... a bit pricey. Maybe with some solar/wind/tidal/wave power ... - Beryllium Dec 30, 21:01 2
        
        apparently Russia, china, india you can make deals, get it near free, pennies per, which might explain why most cryptomining is in those places. -- nm - zeitgeist Dec 30, 21:14 1
        
        On the other hand, cooling is cheaper in Canada. -- nm - Beryllium Dec 30, 23:26

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Honestly you need to treat this like gambling. Take some money that you expect to lose. If you don't then good. But expect to lose it and you won't

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