Bitcoin trading/mining - Cryptocurrency Trading | futures io social day trading
futures io futures trading


Bitcoin trading/mining
Updated: Views / Replies:23,231 / 117
Created: by Big Mike Attachments:3

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 3  
 
Thread Tools Search this Thread
 

Bitcoin trading/mining

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received

Bitcoin trading/mining

Bitcoin value reaches new all-time high against the dollar, continuing upward trend | The Verge

A couple years ago I toyed with the idea of building some big servers to mine for bitcoin but never did it. Now I think it is cost prohibitive to do so, the energy costs outweigh the return.

But I still follow Bitcoin and find it interesting. TheVerge has an interesting article on it (linked above).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Bitcoin Price Breaks All Time High | Bitcoin Magazine

It has more than doubled its value this year.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Pedro40's Avatar
 
Posts: 555 since Jan 2013
Thanks: 31 given, 361 received



Big Mike View Post
A couple years ago I toyed with the idea of building some big servers to mine for bitcoin but never did it. Now I think it is cost prohibitive to do so, the energy costs outweigh the return.

It is really a simple calculation, with one assumption, that the price of bitcoin is going to stay steady. If a few years ago when Bitcoin was under $5 it was not economical, I am sure over $30 it should turn a profit, even if it takes a bit more time/energy to mine a new coin.

But again, you have to bet/assume that the price is going to stay steady. I guess people who have access to very cheap or free energy (windfarm) can still mine them comfortably.... What if a school teacher runs a program on the school's machines overnight?

Reply With Quote
 
  #4 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received


Pedro40 View Post
It is really a simple calculation, with one assumption, that the price of bitcoin is going to stay steady. If a few years ago when Bitcoin was under $5 it was not economical, I am sure over $30 it should turn a profit, even if it takes a bit more time/energy to mine a new coin.

But again, you have to bet/assume that the price is going to stay steady. I guess people who have access to very cheap or free energy (windfarm) can still mine them comfortably.... What if a school teacher runs a program on the school's machines overnight?

No, it is not as simple as you think. The complexity of the protocol has changed over the years yielding far fewer "hits" or results for far greater CPU/GPU resource time.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #5 (permalink)
Elite Member
mumbai maharashtra/india
 
Futures Experience: Beginner
Platform: Ninja
Favorite Futures: Crue/Tf
 
jinhar's Avatar
 
Posts: 289 since Jun 2009
Thanks: 23 given, 762 received


Pedro40 View Post
It is really a simple calculation, with one assumption, that the price of bitcoin is going to stay steady. If a few years ago when Bitcoin was under $5 it was not economical, I am sure over $30 it should turn a profit, even if it takes a bit more time/energy to mine a new coin.

But again, you have to bet/assume that the price is going to stay steady. I guess people who have access to very cheap or free energy (windfarm) can still mine them comfortably.... What if a school teacher runs a program on the school's machines overnight?

The more ppl start mining the more complex the code to solve .. and with the introduction of the new chips specially developed to mine bitcoins which is costing around anywhere from 2k-30k it will become practically impossible to turn it into profit unless they decide to increase the 21mil coin limit... but right now only way to make a profit from mining bitcoin is if you get free electricity..

BTW there is a teacher in a school who is already using your mentioned idea to mine bitcoins and he did say he averaged around 20-30 bitcoins a month using 15 computers.

Jinhar

Reply With Quote
 
  #6 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Pedro40's Avatar
 
Posts: 555 since Jan 2013
Thanks: 31 given, 361 received


Big Mike View Post
No, it is not as simple as you think. The complexity of the protocol has changed over the years yielding far fewer "hits" or results for far greater CPU/GPU resource time.

Did it increase 6 folds? If so mining bitcoins for normal people is meaningless/unprofitable, and only people with access to free energy/computers can make money. Unless someone is betting on future price increase...

Since the current price runup was hyperbolic, I would short this above $30. Not to mention when (and it is a when not an if) the US government declares it illegal, watch out for the price collapse.... It is illegal to make a competing currency to the mighty US dollar...

Reply With Quote
 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received

A Bitcoin for Your Thoughts | Zero Hedge

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #8 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received


Pedro40 View Post
Did it increase 6 folds? If so mining bitcoins for normal people is meaningless/unprofitable, and only people with access to free energy/computers can make money. Unless someone is betting on future price increase...

Are you just repeating what I already said? I don't understand your post. How much research have you done on this topic before posting?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #9 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Pedro40's Avatar
 
Posts: 555 since Jan 2013
Thanks: 31 given, 361 received


Big Mike View Post
How much research have you done on this topic before posting?

Enough that I figure a hyperbolic raise in price could effect the profitability of mining. Since you said last time you checked it was years ago, price has just increased at least 6 fold, the math has changed.

Anyway, the problem with bitcoin is not mining or trading it but its inherent value, which is zero. When you throw in the government's action (banning it) as an unknown, it makes to buy and hold bitcoins a dangerous process.

Reply With Quote
 
  #10 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received


OK, so you think short @ 30. I'll take the long @ 30. Let's see how that plays out later this year.

Bitcoin Charts / Charts

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

Reply



futures io > > > > Bitcoin trading/mining

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Mexican Drug Cartel Enters Coal-Mining Business Quick Summary News and Current Events 0 January 11th, 2013 08:00 PM
Bitcoin ponzi scheme – investors lose $5 million USD in online hedge fund kbit News and Current Events 0 August 29th, 2012 06:28 PM
Scams: Prediction Point Trading, Hindsight Trading, Market Mover Trading flipper26 Trading Reviews and Vendors 5 August 6th, 2012 02:19 AM
Data Mining /A.I. in Ninja for automation? jungian NinjaTrader 4 March 17th, 2012 12:36 PM


All times are GMT -4. The time now is 03:25 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-18 in 0.13 seconds with 20 queries on phoenix via your IP 54.163.209.109