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Thread: My crypto / blockchain adventure

  1. #101
    Plutonium big dick's Avatar
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    He will be ahead a million in two years.

  2. #102
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    Quote Originally Posted by ShawnFanningsLimpDick View Post
    I knew this would happen and tried to get Belly Buster to lock in at least some profits but I fear he lost it all. I found his story inspirational for how you could jump on a bandwagon late and still make good money if you were prepared to take a risk. At one point he was £100,000 ($130,000) ahead which is a pretty sweet chunk of change.

    Bellybuster will be just fine. The man is smart.

  3. #103
    Platinum Krypt's Avatar
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    Where are the updates?

  4. #104
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    Quote Originally Posted by Krypt View Post
    Where are the updates?
    Yeah, what was the final tally? Did you escape with any profits?

  5. #105
    Platinum Krypt's Avatar
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    Well, at least the safety net in lolengland is ubiquitous. And fwiw, you’re still the PFA poker room manager.

  6. #106
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    Quote Originally Posted by Krypt View Post
    Well, at least the safety net in lolengland is ubiquitous. And fwiw, you’re still the PFA poker room manager.
    Ouch.

  7. #107
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Quote Originally Posted by The_Lurker View Post
    Quote Originally Posted by ShawnFanningsLimpDick View Post
    I knew this would happen and tried to get Belly Buster to lock in at least some profits but I fear he lost it all. I found his story inspirational for how you could jump on a bandwagon late and still make good money if you were prepared to take a risk. At one point he was £100,000 ($130,000) ahead which is a pretty sweet chunk of change.

    Bellybuster will be just fine. The man is smart.
    Now I feel a bit bad for saying you made all your shit up.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

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  8. #108
    Platinum Krypt's Avatar
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    can we please get an update, or were you vanquished into another dimension?

     
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      MumblesBadly: I’m curious, also.

  9. #109
    Diamond Tellafriend's Avatar
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    Quote Originally Posted by Krypt View Post
    can we please get an update, or were you vanquished into another dimension?
    Like you with NTLA.

  10. #110
    NoFraud Poker Room Manager Belly Buster's Avatar
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    It's been two years since the last update to this thread so for those that are curious ... this is how it played out.

    The heady heights of the crypto boom peaked in January 2018 where (on paper) my profit stood at £139,000. ~£45k of purchase against a market value of ~£184,000.

    Then it all went south. Really south. The nadir was around December 2018 when BTC had collapsed to 3200USD. In the meantime I'd shelled out another £25k during 2018 to make my total invested up to £70k. At the lowest point my loss was around £30k. So from £139k profit to a £30k loss in less than a year. All on paper of course. Easy come easy go as they say.

    The orignal strategy was to slowly unload and take profits. But with the price collapsing I couldn't bring myself to do it. So like all sicko gamblers I doubled down. It just felt it was more of a buying opportunity so gradually increased the overall cash outlay to just north of £100k. I consolidated on holding mostly BTC and ETH, getting rid of the wankcoins, but mostly just sitting on my hands and hoping for a sunnier day.

    Given the recent rally things things have picked up nicely and the paper profit is back up to over £62k.

    Will I sell? Someday yes when I need the money. But not right now. With that said I'm not buying any more. #HODL

    Oh, and I haven't lost them or had them nicked (yet).

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      dwai: THEY'RE DONKDOWN THO
      
      Sanlmar: The HODL is a baffling concept to me but inflation and I genuflect in your direction
      
      gimmick:
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  11. #111
    Plutonium sonatine's Avatar
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    im so sorry for your loss but honestly you were warned

     
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      Sanlmar: Tight
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  12. #112
    Plutonium Sanlmar's Avatar
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    Greeting from the dumbest country

    The pound is jamming too vs the useless dollar. Wonder if you have to trade in dollars?

  13. #113
    NoFraud Poker Room Manager Belly Buster's Avatar
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    The crypto adventure is about to take a fork in the road.

    Stay tuned and buckle up.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  14. #114
    100% Organic MumblesBadly's Avatar
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    Quote Originally Posted by Belly Buster View Post
    The crypto adventure is about to take a fork in the road.

    Stay tuned and buckle up.
    Given some recent history, this should be interesting....

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    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

  15. #115
    NoFraud Poker Room Manager Belly Buster's Avatar
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    I was looking at options to get into crypto mining in some way. BTC mining is a busted flush, the hardware requirements now are off the scale; so I looked a bit down the pecking order which threw up some interesting finds.

    So it seems the "future" for crypto is moving away from BTC-style mining, aka "Proof of Work" and moving towards "Proof of Stake". PoW requires the huge hardware; PoS can run on stock hardware. You basically get rewards (kinda like interest) for operating as a stake validator. The rewards are distributed from the fees that others paying to run their transactions.

    Staking works in one of two ways. You can either operate your own validator (more lucrative), or join a stake pool and let someone else do the hard work. In order to stake you have to put up your own funds (hence Proof of Stake).

    So here's the fork in the road. About 2 months ago I divested about 3BTC to buy into ETH, ADA (Cardano) and Polkadot. Ethereum is transitioning from PoW (ETH1) to PoS (ETH2) and lauched ETH2 staking in December.

    To run your own validator node, you need a multiple of 32ETH, a reliable internet connection, some hardware to run the validator and some software know-how. There's also the slight snag of tying up your ether for a long time, as there's no exit route coded in yet, and not likely to be one for around 2 years. So you have to be in for the long haul. As an incentive to operate your node correctly, there's penalties for not running the validator, so your kit needs to be running as close to 24/7 as possible; there's harsher penalties for operating your validator incorrectly. This is called slashing and you can lose up to 50% of your stake if you really fuck up.

    The technical side is not for the faint-hearted; if your techie skills aren't up to much, you likely want to give this a miss and maybe just join a staking pool. For me though Ubuntu Linux and docker containers are bread and butter, so I decided fuck it I'll give it a spin.

    I already had 30ish ETH from a bit of trading back in the day; I decided I wanted to run 2 nodes, so I traded just enough BTC to get me to 64 ETH.

    For kit I went for an Intel NUC. These are tiny PCs you can fit in your hand. They come with a CPU but no memory or disk. I went for the NUC10i7FNH (£450) which has an Intel i7 with 6 cores, probably a bit overspecced, and banged in 16GB corsair memory (£85) and a 2TB Samsung Evo 970 M.2 SSD (£300). Here's a stock pic

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    So I get the kit and the first thing I do is underclock it. As it's running 24/7 I want minimal power consumption. I checked it against a power meter and it runs on average about 12W. This would be about 88 kWh/year which is less than £15/year.

    I set the bios to auto restart on power failure, as any time not running is money down the drain. Install Ubuntu, harden the security and install the software. You've got a few options for this; you can install directly, use DappNode, or do what I did which was install everything using docker using a sample project from github. The stinger for ETH2 staking is you need the full ETH1 blockchain which takes a couple of days to download.

    So now the scary moment, sending the 64 ETH; double and triple checking the deposit address. The process is fiddly but doable.

    Then it's a waiting game. The number of new validators is controlled per epoch, so it took about 2 weeks to get to the front of the queue, and the date came around this Tuesday. Check the stats and all seems to be working so far.

    The numbers. I'm in for about £865 for the kit and 2 years worth of electric. My return is currently 0.016 ETH per day; this is likely to go down a bit for outages and as more validators join. Forecasting a more pessimstic 0.012 ETH per day, this works out at just over 8.5 ETH over 2 years. At today's price that would be worth about £12,000, so easily £10k profit to be made even if the price stays the same.

    Of course there's plenty that could go wrong; but I'm betting on this working out and hopefully getting a good bump in the ETH price as well.

    Stay tuned for what I did with the Cardano and Polkadot. In the meantime here's a pretty dashboard showing some stats.

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      gimmick:
      
      garrett: wow very impressive unfortunately this is way above most people's capabilities =)
      
      YUUP:
      
      MumblesBadly: Good luck! Hope you make a bundle.
      
      Sanlmar: This post is stuffed with delicious nuts and caramel. I will reread several times with lips moving. Great post
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  16. #116
    NoFraud Poker Room Manager Belly Buster's Avatar
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      MumblesBadly: Nice!
      
      WillieMcFML: forever minted on the blockchain
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  17. #117
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Quote Originally Posted by big dick View Post
    He will be ahead a million in two years.
    3 and a bit years.

     
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      gimmick:
      
      BCR: Fantastic job my man
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  18. #118
    Hi Todd JACKDANIELS's Avatar
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    nice going belly you defo had the last laugh alan parridge would be proud
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"

  19. #119
    Hi Todd JACKDANIELS's Avatar
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    can we get a current portfolio breakdown by % ?
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"

  20. #120
    Hi Todd JACKDANIELS's Avatar
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    im like 60/40 sorare nft's / algorand

    im thinking at least one of these blows the fuck up in the next couple of years, both are worth checking out
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"

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