This syncing process is extremely annoying. I bought ETH ages ago and never synced for month and starting from scratch was advised so I did. Still takes forever. And once you are there you must basically let you PC running with geth for several hours each day to be able to catch up. How do you guys handle this? Full resync ever other month? But then when you want to sell you will have to wait hours or by then maybe days till you can actually sell and price might have crashed by then. For sure the software /stack is not yet ready for prime time and general adoption.
Will 2018 be the year of ETH supremacy? It sure looks like it's making a run for it.
Ethereum is one coin that I've never really gotten into. It wouldn't be the worst idea to diversify some of my BTC more. Although, whenever you consider jumping into a coin, doing so after a good jump almost always seems like a bad idea. It has always seemed rare for a coin to make a large jump (Ethereum went up around 25-30%) without taking a modest dip before going up again.
Although, the one thing I'm trying to find now is a good portfolio app/site. What I mostly want is to be able to do something like add in an offset to help me realize gains. An example is how I bought some Augur for .0005, and right now, that same Augur is worth something like .000496. Yes, it's still worth money, but I want it to be rather visible that the Augur has lost me .000004. It would also be good to see how that trends over time. On the other hand, if I mine altcoins, I don't care as much about using offsets. I could argue that they cost me USD to create due to running the video cards, but I'm not as concerned about that.
Have you tried Blockfolio?
Hm, I'm trying it out, and other than being a little buggy, it has one big problem that I see... it doesn't support receiving coins. At least the only thing I can find is adding transactions, but if I can't go back through Coinbase and add all of my transactions, I won't have a very accurate ledger. Of course, if I don't care about the Bitcoin values, I could just use it to track altcoins that I've used Bitcoin to purchase (or bought LTC with BTC to purchase other altcoins). It does seem to do the other part pretty well as in it keeps track of how much value a coin has gained since I purchased it, which is definitely something that I've been looking for.
The app unfortunately won't do everything you asked and it's under heavy server load at the moment (so a little buggy) but is good for keeping track of purchases, pricing, earnings and losses etc.
Is it worthwhile to purchase ETH on Coinbase? I'm a total newb, but my friend was talking about buying some bitcoin on Coinbase so he can purchase some Ripple.
Yeah, I find that a lot of apps don't support mining. If you attempt to add coins, they'll want to assign some sort of value to them.
I'd recommend against buying Bitcoin to purchase Ripple, because Coinbase/GDAX don't trade Ripple. That means you have to transfer the money elsewhere to purchase it. Bitcoin still has fairly high transfer fees... especially if you're only investing a small amount (~$15-25 per transfer). On the other hand, Litecoin transfers are free on GDAX. So, you can do the following...
I know Binance supports LTC/RPL, but the site has been under some major stress lately. There are a few that support LTC and RPL trading, which means BTC can easily serve as a median coin. You will lose a tiny bit to trading fees (usually less than 1%), but it's not a huge deal.
- Purchase Litecoin on Coinbase.
- Pull in the Litecoin into GDAX from Coinbase.
- Send the Litecoin to any Exchange that does LTC/RPL or BTC/RPL.
- If the Exchange uses LTC, just trade once it's available. If not, trade the LTC into BTC, and purchase the Ripple with BTC.
Better to buy on GDAX than Coinbase. Lower fees (or no fees if you make the buy offer and someone takes it).
Get a hardware wallet like the ledger nano s. I stopped syncing completely once I got that since there is no need for it.
this. get a trezor or ledger nano s. they both support eth and erc20 tokens. havent looked back since. syncing the eth blockchain is a mess with the current clients, at least for casual home use.
only disadvantage is currently you need to go through myetherwallet with the trezor/nano s for eth and tokens access. not sure if that will change in the future.
prioritary? is that a britishism i'm not aware of?Currently out of stock. Order today and get prioritary shipping from March 20
prioritary? is that a britishism i'm not aware of?
Can't you just use the chrome apps? That's what I do.only disadvantage is currently you need to go through myetherwallet with the trezor/nano s for eth and tokens access. not sure if that will change in the future.
Can't you just use the chrome apps? That's what I do.
How does mining with your GPU add value to whoever your mining for?
Does anyone run one of these setups off a solar panel?
Don't kill me please for the nOOb question, but this stuff works like the old search for alien life projects, but instead you're using your GPU?
How does mining with your GPU add value to whoever your mining for?
Does anyone run one of these setups off a solar panel?
you mine for yourself. the money (crypto concurrency rather) is yours to keep (if hoping the value to go up) or sell for fiat money immediately.
mining involves solving equations to find a constantly changing "magic number" that unlocks an amount of currency (thats the easiest way to explain it i suppose). since it typically takes trillions of calculations to find this number, people usually combine their rigs into pools and when that number is found by anyone in the pool, all the people in the pool share the reward.
you would need a decent solar setup to power a typical gpu miner, say a rig with 6 medium power gpus (say 6x GTX 1070s). call it 800 watts or so. add more gpus, more power and get more money. and heat to dissipate.
but you can always start small. if you have a gaming rig with a decent gpu, you can start now and get your feet wet for free, well except for the increased power bill but unless your power cost is crazy high you should make a bit of money from it. enough to get a feel for what its all about anyway.
To add to @VeryCharBoiled 's statement, I will point you to GridCoin:
https://www.gridcoin.us/
You may not make as much off GridCoin as you will something like ETH or XMR, but if you are concerned with HOW your GPU computing power is used, then GridCoin is probably best for you.
Ethereum, Bitcoin, Monero, etc. mostly "throw away" your hashpower. They require less than 1% of available hash power to actually verify transactions. Thanks to the way Proof of Work functions, people keep adding more computational power to try to get more rewards, so it's an arms race. The vast majority of the hashing is a waste of time and energy. It only "adds value" by adding redundancy to the network as a whole, so that it's hardened against attack. Ideally, it also prevents centralization. Bitcoin and Bitcoin Cash have centralized most of their hash power though, so PoW does not always work.
Thanks for the info.
Who sets the 'magic number'?
What's driving it right now? Hope it's not a bubble.ETH has been steadily climbing over the past few days, about $1,150 right now...
What's driving it right now? Hope it's not a bubble.