Cryptocurrency

[ManningEnvy]

[titanruss]

This is pretty tech verbiage heavy... but if you really want to learn something about BTC and the new taproot activation... here's the primer from Kraken.

 

 

https://kraken.docsend.com/view/9e9y7may8526z934

 

 

[pat]

Is it worth spending $2k to buy a gaming computer with a GeForce RTX 2060 off a geezer with terminal illness?

[titanruss]

2 hours ago, pat said:

Is it worth spending $2k to buy a gaming computer with a GeForce RTX 2060 off a geezer with terminal illness?

i think you can build cheaper than that right now. cards are back in stock.

[wiscotitansfan]

57 minutes ago, titanruss said:

i think you can build cheaper than that right now. cards are back in stock.

I wouldn't go that far if the card is actually worth a damn

 

3 hours ago, pat said:

Is it worth spending $2k to buy a gaming computer with a GeForce RTX 2060 off a geezer with terminal illness?

2060's aren't remotely worth it in my opinion (still comparable to the 1080 I use currently though and a comparable price I paid, but 5 years later). That being said, anything worth buying you aren't getting it close to MSRP and automatically tilts that back into the not worth it category.

 

Russ is right that you can get others for cheaper if you don't mind building or paying the fees to have it done but the prices right now are so out of whack even if you can get stuff in stock I wouldn't bother unless you really want something in the next year or so.

Edited September 15, 2021 by wiscotitansfan

[titanruss]

44 minutes ago, wiscotitansfan said:

I wouldn't go that far if the card is actually worth a damn

 

2060's aren't remotely worth it in my opinion (still comparable to the 1080 I use currently though and a comparable price I paid, but 5 years later). That being said, anything worth buying you aren't getting it close to MSRP and automatically tilts that back into the not worth it category.

 

Russ is right that you can get others for cheaper if you don't mind building or paying the fees to have it done but the prices right now are so out of whack even if you can get stuff in stock I wouldn't bother unless you really want something in the next year or so.

theres 12 GB 3060s on newegg right now for under 900. you could easily get the rest of the setup going for less than a grand and everything would be brand new and probably better overall components.

 

Theres some 3070ti's there for less than 1300. So you could still probably get the build for under 2k if you do it right

[Supdawg]

Guys, I have been loving my new BlockFi credit card, last statement I earned 93$ worth of Bitcoin (which is now worth 96$). Zero annual fee, if you're someone who funnels their monthly spend to earn credit card points and are also a believer of Bitcoin long term, this is an easy way to stack sats. Also, with BlockFi, you actually earn interest from your Bitcoin that you earn from spending money on the credit card. 



All other credit card companies give you credit card points that are constantly being devalued and watered down. 

Here is my personal referral code if anyone is interested. I think I would earn 30$ per referral just to be transparent. 

https://blockfi.com/?ref=dbab4ab1

[Supdawg]

And by the way, there is A LOT of chatter online that there is a better than 50% chance one or more of the MANY Bitcoin ETF's are likely to be approved in October/November. 

Still time, 100K+ by EOY I'd still say is fairly likely. 

[wiscotitansfan]

1 hour ago, titanruss said:

theres 12 GB 3060s on newegg right now for under 900. you could easily get the rest of the setup going for less than a grand and everything would be brand new and probably better overall components.

 

Theres some 3070ti's there for less than 1300. So you could still probably get the build for under 2k if you do it right

My friend recently bought a 3060 from newegg, didn't actually ship for a very long time

 

(Even had to change shipping addresses because they were going to be in the process of moving so just got it sent to his parents' house because all the uncertainty of when it was actually gonna get shipped)

Edited September 15, 2021 by wiscotitansfan

[pat]

The geezer was throwing in a chair and desk and a printer and a bunch of monitors.  It might be a good deal if I actually wanted all that crap.  But basically none of it is stuff I’d personally buy.

 

Basically this dude with cancer and copd blew $6K on his ultimate escape the world setup and now he’s about to croak.  He probably dipped into his retirement savings and went nuts since he had a terminal illness.

[BobbyCoins]

23 hours ago, Supdawg said:

Guys, I have been loving my new BlockFi credit card, last statement I earned 93$ worth of Bitcoin (which is now worth 96$). Zero annual fee, if you're someone who funnels their monthly spend to earn credit card points and are also a believer of Bitcoin long term, this is an easy way to stack sats. Also, with BlockFi, you actually earn interest from your Bitcoin that you earn from spending money on the credit card. 



All other credit card companies give you credit card points that are constantly being devalued and watered down. 

Here is my personal referral code if anyone is interested. I think I would earn 30$ per referral just to be transparent. 

https://blockfi.com/?ref=dbab4ab1

 

Was that about $6k in spending?

If you're someone who uses debit more than credit there's something to be said for Coinbase's debit card. You only get 1% back in BTC on debit purchases, but you also have the option of getting 4% back in XLM or GRT, which you could then convert into BTC. Depending on how much you use the card you could earn quite a bit in BTC that way.

The only thing is you have to buy USDC to use it. Then again USDC is pegged to the dollar so there is no gain or loss from selling them.

[OILERMAN]

Bogleheads: 

 

https://www.bogleheads.org/forum/viewtopic.php?f=3&t=349207

 

New Forum Policy Prohibiting Discussions of Cryptocurrency, Market Manipulation Schemes, etc as Investing Strategies

 

Eventually, one runs out of greater fools. - Burton Malkiel

 

What's our problem with cryptocurrency?

It is my and the Advisory Board's feeling that the cryptocurrency market as currently constituted is extraordinarily risky and should not play a significant role in a prudent investor's portfolio. The risks go far beyond what we are used to dealing with in regulated market securities. like volatility or bankruptcy risk or interest rate risk. Crypto exposes you to non-market risks such as losing the keys necessary to claim your ownership of the tokens, having your tokens stolen by hackers or the operators of the exchange holding them, or having your tokens on an exchange seized by government agencies. All of these have already occurred on multiple occasions. And then there is the largest risk of all. In a very real sense, crypto tokens are already bankrupt. They have a literal value of nothing, they have a future value of nothing. Thus their price depends entirely on whether enough people are willing to ignore this fact and exchange real money for nothing. The only basis for buying them is the hope the the price will go up because it has gone up before. We have a 400 year history of fads like this in the financial markets, none of them ended well,

 

[titanruss]

7 hours ago, NashvilleNinja said:

 

Was that about $6k in spending?

If you're someone who uses debit more than credit there's something to be said for Coinbase's debit card. You only get 1% back in BTC on debit purchases, but you also have the option of getting 4% back in XLM or GRT, which you could then convert into BTC. Depending on how much you use the card you could earn quite a bit in BTC that way.

The only thing is you have to buy USDC to use it. Then again USDC is pegged to the dollar so there is no gain or loss from selling them.

I think the fees are lower with stable coins as well but it's been a bit since I used coinbase 

[titanruss]

4 hours ago, OILERMAN said:

Bogleheads: 

 

https://www.bogleheads.org/forum/viewtopic.php?f=3&t=349207

 

New Forum Policy Prohibiting Discussions of Cryptocurrency, Market Manipulation Schemes, etc as Investing Strategies

 

Eventually, one runs out of greater fools. - Burton Malkiel

 

What's our problem with cryptocurrency?

It is my and the Advisory Board's feeling that the cryptocurrency market as currently constituted is extraordinarily risky and should not play a significant role in a prudent investor's portfolio. The risks go far beyond what we are used to dealing with in regulated market securities. like volatility or bankruptcy risk or interest rate risk. Crypto exposes you to non-market risks such as losing the keys necessary to claim your ownership of the tokens, having your tokens stolen by hackers or the operators of the exchange holding them, or having your tokens on an exchange seized by government agencies. All of these have already occurred on multiple occasions. And then there is the largest risk of all. In a very real sense, crypto tokens are already bankrupt. They have a literal value of nothing, they have a future value of nothing. Thus their price depends entirely on whether enough people are willing to ignore this fact and exchange real money for nothing. The only basis for buying them is the hope the the price will go up because it has gone up before. We have a 400 year history of fads like this in the financial markets, none of them ended well,

 

This is just a giant rant saying "please don't let us lose control of the money game" and "nah nah nah nah nah If I close me eyes it doesn't exist"

 

 

Edited September 17, 2021 by titanruss

[Supdawg]

12 hours ago, NashvilleNinja said:

 

Was that about $6k in spending?

If you're someone who uses debit more than credit there's something to be said for Coinbase's debit card. You only get 1% back in BTC on debit purchases, but you also have the option of getting 4% back in XLM or GRT, which you could then convert into BTC. Depending on how much you use the card you could earn quite a bit in BTC that way.

The only thing is you have to buy USDC to use it. Then again USDC is pegged to the dollar so there is no gain or loss from selling them.

I didn't even know that CB had a debit option... Sucks that you have to have USDC, though. I don't believe last month was 6K in spend. The first I think 5K or something like that you get 3.5% interest back then it goes to 1.5%. 

I don't use a debit card for anything, ever. I always buy everything I can with a credit card to earn points + get a 45 day cash float. I pay the statement balance every month so I don't pay any interest. If you use a debit card for spend you are essentially giving up a discount you could be earning. We travel a lot and most of it is paid for by points we have earned on our everyday spend. 

The other thing you would need to worry about is converting the XLM/GRT to BTC would be a taxable event I believe even though credit card rewards are not taxable income.