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UK. Mains gas is only $0.06 per kWh, and oil is just slightly more expensive than gas. https://nottenergy.com/resources/energy-cost-comparison And the Government want everyone to stop burning fossil fuels, and switch to electric heating. Yeah right. :rolleyes:

2.8kWh would cost me $20/day (24*2.8*$0.3). As mentioned in the other thread, my idea was to use a rig as a cheap form of heating in the winter but it's a non-starter if it only reduces the cost from $20/day to $17/day.

Any suggestions of good off-the-shelf rigs? I found this calculator which looks quite useful. https://www.coinwarz.com/mining/ethereum/calculator

PS. answering my own question: https://bravenewcoin.com/insights/crypto-assets-you-can-mine-from-a-home-computer

So much for my idea of cheap heating. Doh! Presumably there are other coins which are easier to mine? Where you could earn regular rewards with a single rig?

That's the bit I don't know.

Knowing my luck, that's exactly what would happen if I bought a rig. I guess it's only $2.5k and you could still use it as a heater. :D

True but if it's saving you $700/month, then you'd recover that in under 4 months.

I guess you're not in the UK. :D We have to have heating on from October to April.

BTC mining rigs consume a lot of electricity. Virtually 100% of that electricity is converted into heat. The price of electricity in the UK (approx $0.30/kWh) means it's difficult to profit from mining. However, you could use a mining rig to heat your home in the winter, and massively...

This article I came across a few years ago mentions the asymmetric nature, and makes a reasonable case for putting 1% of net worth in it. (If only I'd done that at the time when it was $4k :()...

Maybe you've just had better luck than before. :D

FWIW, death cross. https://bitcoincharts.com/charts/bitstampUSD#rg360zigDailyztgCza1gSMAzm1g200za2gSMAzm2g50zl

If you could come up with a consistent losing strategy, then it would be easy to make money. Create two accounts A and B. Put $x in A, and trade this using the losing strategy. Put $10x in B and take the opposite of every trade in A. :D

Sticking too many eggs in one basket and holding on to losers, hoping they turn around, can do this. I know because I lost over 80% of my capital doing precisely this. :banghead: If you only ever risked 1 or 2% of your capital, on any single trade, it would be nigh impossible to achieve a 45°...

If only I'd read this when I started out. https://jesse-livermore.com/trading-lessons-suckers.html I thought I knew something but it turns out I was a semi-sucker. It might also have stopped me becoming a super-sucker before I quit.

The OP said something similar; there's a difference between knowing the path and walking the path. Unfortunately, I don't know the path and I've no desire to go on any more random walks. :D

I quit trading quite a long time ago. The only thing that would persuade me to start again is if I knew of a reliable method of making money over time. I'm not convinced by the argument that, if you just keep plugging away at it for long enough, you'll eventually crack it. I know several guys...

Agreed. It doesn't look like just a pullback. It started to run out of steam in March and by April it looked like exhaustion was starting to set in. The 200-dma gives quite a few false signals but it's not a bad bellwether...

In the current climate of soaring debt and rising inflation, if silver starts to run, even JP Morgan might not be able to stop it. :D