The Mining Play

Crypto Mining ⚒ & Trading

Made up half my MDMN loss, if the market explodes in May like i think, will be in profit soon.

IMO I think we have seen the bottom of the most recent correction in the crypto market. The wild swings in trading volume between buys and sells and the on balance volume have seemed to stabilize. Coins seem to be in more stable hands. The slow and steady rise from a month or so ago bodes well for continued gains. (knock on wood)

I also am looking to offset my losses with other gains and I feel crypto are a good part of my overall investment strategy.

They sure do Jak, if i wouldn’t have wasted my money in MDMN, i would be in much better position now.

Hindsight is always 20/20. Sigh

Quiet here, waiting for the incoming bull run, we might have a few gold bugs coming our way, gold is not doing very good.

I don’t know enough about it to say yay or nay, just thought I’d throw this out there.
https://www.bnnbloomberg.ca/crypto-graveyard-fills-up-fast-as-icos-meet-their-demise-1.1100384

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Quiet is a good thing, IMO. Besides the couple of different hacks which have adversely affected the price, I think the next big push could come if and when the SEC authorizes the ETF’s in crypto.

Until then, it seems like the weaker investors have sold out and gov’t worldwide have stopped harping on trying to shut down crypto, but regulate it instead. If one is day trading crypto, you have a chance at some profit, but a big risk as well; however, I think BTC will continue within its trading range of approx $6k-$9k for a while yet. IMO, we need some other positive news to break through the $10k. For those mining, it makes sense to keep banking crypto. Any drop in the price just works into the dollar cost averaging approach. It sucks to watch it fall, but since I’m mining, not trading, lower prices mean more profit for me when it goes back up.

How much does it cost to mine it…just curious? I heard someone say around $5000 for Bitcoin and that was the critical level for it??

You do your research and you pick the best ones, I have a few ICOs, and they are still alive and kicking, but all the establish ones, like NEO and VEN are at a discount, these will go up a lot with Bitcoin.

This is very important news, big institutional money will invest into the crypto market there.
https://www.coindesk.com/coinbases-new-custody-service-is-now-live/

Depends upon what you want to spend. I am small time GPU mining. Have a couple old machines which I have cobbled together with a few extra parts and a few new machines w newer cards. Basically approx $3k gets basic GPU machine going. Not going to retire on one GPU machine, but gets you in the door.

If you like to trade Cryptos and like charting, this guy is the best I have seen.

Thanks for the link. Watching his stream, has some good charting skills. Better than mine! LOL!

Agree. It hasn’t gotten much press, but the institutional money has begun to flow into cryptos. With the possibility of ETF’s and institutional funds, cryptos look to have a more stable growth, with a lessening of volatility. Hopefully the influx will take the edge off the volatility, especially the effect of the smaller hacks, which IMO, have little effect upon the larger exchanges.

Risks will still remain, but they exist in all forms of trading. For example, who would have predicted GE being dropped from the DOW a year ago and look what Amazon’s announcement of purchase of Pillpack did to drug manufacturers and distributor stocks. I own some CVS, and I got hit for a 14% loss just on the announcement of the purchase. I still see strength in CVS and I dividend reinvest, so I will ride it out for now until more info becomes available. Eventually, I will most likely sell CVS until the marketplace shakes out the effect upon conventional drug resellers.

On a sidenote talking about drug companies. If the tariff war between Canada US increases and Trump hits our auto sector, there’s been talk of passing laws here to void American drug patents. That open it up for Canadian companies to produce them. The drug companies spend more than everyone else combined on lobbying in the US. Just saying :wink:

Agreed. May have issues getting them into the US though (more tariffs). It could be beneficial or a mess. I don’t have a lot in the drug sector. If it seems its getting messier, I may just take my small profits and move elsewhere.

Hi Rick,

I think the demand for antidepressants from us Medinah shareholders alone should enhance the prognosis for success of both countries’ drug manufacturers.

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Either that or elephant tranquilizers. Just need to take the edge off. LOL!

Ah Ah Brecciaboy.

In case anyone here is interested I posted a chart with a potentially very bullish formation that Bitcoin is at a critical juncture of forming. If the formation plays out you’re looking at a move into the $7900 range.

The post is in the “Other mining stocks” link: Other Mining Stocks

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