Did crypto finally crash?

[CerebralKnievel]

While I've got someone here who seems to know what he's talking about. Do you know anything about nicehash? Whether it's actually any good, or delivers anything near what they claim.

Oh, I know nothing. I just have enough presence of mine to filter good advice from scams. I obtain most of my insight from @SwamiLeoni and @rj144 . One of them may have an opinion.

Edit: I've seen it mentioned. They basically leech off of your system performance to contribute to large scale mining. Personally, I have a bit of an aversion to that sort of shit. I don't know what insidious plots these people may have in mind. Bit of hyperbole there, but seriously, I wouldn't want to grant access to my desktop to them. Not sure what sort of access they may be able to infiltrate. I also assume the payments are extremely minimal unless you're contributing significantly.

 

[Turtlejuice]

Oh, I know nothing. I just have enough presence of mine to filter good advice from scams. I obtain most of my insight from @SwamiLeoni and @rj144 . One of them may have an opinion.

Ah fair enough. I'm kind of in the same boat.

From what I can tell its like bitcoin mining, but rather than you actually mining bitcoin, you mine other coin and it automatically converts it to bitcoin. Trying to figure out if it actually does what they claim.

 

[Prefect]

This is the same shit people were saying 5 years ago, yet the value is still going up.

You want to gamble, go bet on the roulette table. Investing is not blind gambling.

 

[CerebralKnievel]

Ah fair enough. I'm kind of in the same boat.

From what I can tell its like bitcoin mining, but rather than you actually mining bitcoin, you mine other coin and it automatically converts it to bitcoin. Trying to figure out if it actually does what they claim.

I was under the impression that they basically harness some of your processing power and use it along with however many others to crowdsource mining on a large scale, and thereafter pay you a percentage of what is mined. Basically like mining without actuslly having to do anything, but I'm a bit skeptical of allowing someone else to access hardware functions on my PC.

 

[Prefect]

It went up something like 40% in a day last month, and now its correcting. It should be around 8K realistically based on marketcap but its at 11.5K as of now. So no it didn't burst, its not a bubble but people keep saying that because it sounds cool. I would also add that every January for the last 4-5 years crypto has hit lows, if you graph every year, you will see a big dip almost every january. This is all expected. Honestly if it keeps some of these people out who think they are going to make a million in a few months out that would be awesome. Im picking up about 10% more coin on this correction so for me it works out well.

Based on what? There are no indicators or a governing body trying to regulate it. Or even much usage of it as an actual currency. I can put all my money on black at the roullette table and be right but that doesn't mean that is a sound investment decision.