Investing

The RFD - Cryptocurrency Mega Thread

Deal Guru
Mar 22, 2004
12361 posts
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RFD
I just started mining Ethereum ETH for fun on a single computer. I'm completely brand new to this crypto stuff so have to read a lot.

Is there a way to convert ETH to dollars? Or do you just convert it to bitcoin? I have to read about this because I have little to no clue.
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Sep 18, 2017
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Vancouver
radeonboy wrote:
Jan 2nd, 2018 1:05 am
I just started mining Ethereum ETH for fun on a single computer. I'm completely brand new to this crypto stuff so have to read a lot.

Is there a way to convert ETH to dollars? Or do you just convert it to bitcoin? I have to read about this because I have little to no clue.
Is it even worth it to mine ETH nowadays?
[OP]
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Jun 20, 2011
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VANCOUVER
radeonboy wrote:
Jan 2nd, 2018 1:05 am
I just started mining Ethereum ETH for fun on a single computer. I'm completely brand new to this crypto stuff so have to read a lot.

Is there a way to convert ETH to dollars? Or do you just convert it to bitcoin? I have to read about this because I have little to no clue.
You need to send your ETH to an exchange like QuadrigaCX. Locate the pairing you need to change the ETH to Fiat and then withdraw via ETF.

As the poster said above me, is it worth your time? If it's just for fun on a single computer I'm guessing you are getting 3-5 bucks in ETH a day. Now factor in energy costs... Now if you have the parts already and you're running a mining rig that's another story.
Deal Guru
Mar 22, 2004
12361 posts
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RFD
kaiseki wrote:
Jan 2nd, 2018 1:06 am
Is it even worth it to mine ETH nowadays?
I have no clue, I'm a literal newbie and keep hearing of ETH Ethereum on the "news" so i thought I'd try it out as it was quite simple to get up and running.

What would you recommend?
Deal Guru
Mar 22, 2004
12361 posts
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RFD
DDHLeigh wrote:
Jan 2nd, 2018 1:17 am
You need to send your ETH to an exchange like QuadrigaCX. Locate the pairing you need to change the ETH to Fiat and then withdraw via ETF.

As the poster said above me, is it worth your time? If it's just for fun on a single computer I'm guessing you are getting 3-5 bucks in ETH a day. Now factor in energy costs... Now if you have the parts already and you're running a mining rig that's another story.
Wow I did not understand most of your first part. I'll have to research.

What would you recommend in regards to the second part of your reply? I figure I'd start somewhere and run it on the weekends when electricity is lowest. A machine with i7-7700k and Radeon RX580 8GB
[OP]
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Jun 20, 2011
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radeonboy wrote:
Jan 2nd, 2018 1:39 am
Wow I did not understand most of your first part. I'll have to research.

What would you recommend in regards to the second part of your reply? I figure I'd start somewhere and run it on the weekends when electricity is lowest. A machine with i7-7700k and Radeon RX580 8GB
Yes, please research because you do not want to be losing your ETH. As for your setup for farming if it's for fun and learning by all means. In the long run you are better off just buying whatever you want to invest in with fiat.
Deal Guru
Mar 22, 2004
12361 posts
2892 upvotes
RFD
DDHLeigh wrote:
Jan 2nd, 2018 2:39 am
Yes, please research because you do not want to be losing your ETH. As for your setup for farming if it's for fun and learning by all means. In the long run you are better off just buying whatever you want to invest in with fiat.
Wow I'm so bad, shows how little I know about this space. I have to make a correction and state that I'm actually mining Electroneum and NOT Ethereum, it just sounded similar and I got mixed up. I think I have 72 ETN so far just running on the weekend and holidays so far. I have the CPU and GPU miner running separately, again just to start out somewhere and try.

As for the wallet. I'm using the offline wallet generator offered in the Electroneum website, is that safe? Before making it, it asks to move the mouse around randomly to generate a key for the wallet. All I know is that you can only share the public key and not the private and other key.
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Mar 16, 2010
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Burlington
How many people who have no prior experience in investing are buying into crypto?
[OP]
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Jun 20, 2011
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VANCOUVER
Dpack22 wrote:
Jan 2nd, 2018 10:05 am
How many people who have no prior experience in investing are buying into crypto?
It's the hot new thing. Probably more than we know.

As a side note, for mobile tracking i've been hearing good things about blockfolio.
Jr. Member
Nov 5, 2003
192 posts
30 upvotes
kevindurant1 wrote:
Dec 31st, 2017 5:30 pm
Yes, it can be done. Bitcoin ATM > Android Wallet > Binance or Bitcoin ATM > Binance. It depends on the machine/teller.

ATM have different fees. I saw one at 5% and I saw one at 15%. You have to check and then see how much the markup is. Some are acceptable some are just straight robbery.

The game is to get BTC/ETH with the lowest fees as possible and send those to binance. You dont have to just buy BTC. If you can get ahold of ETH or even LTC. That would be good too.
Any suggestion on what wallet I would want to use for this? I don't have any wallet now - my ideal would be having the ATM spit out a receipt; but that likely isn't possible. I'm an iphone guy if that matters.
Basically, I just want the easiest way to get the bitcoin from the ATM to my home so that I can use my laptop to upload to binance.

I still haven't been verified by QuadigaCX and can't even verify with kraken. I feel like I've missed huge profits - a few that I have been following (with thanks to RFD) have doubled or tripled since I've been looking. ugh!

Thanks for all the help.
Member
Jan 16, 2009
322 posts
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Coworker who was saying bitcoin was in a crazy bubble last month before the holidays, just told me today that ripple is the best thing ever. Apparently he did his research over the holidays and crypto is the future now. LOL.
Deal Fanatic
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Jul 29, 2005
8078 posts
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Mississauga
momack wrote:
Jan 2nd, 2018 10:49 pm
Any suggestion on what wallet I would want to use for this? I don't have any wallet now - my ideal would be having the ATM spit out a receipt; but that likely isn't possible. I'm an iphone guy if that matters.
Basically, I just want the easiest way to get the bitcoin from the ATM to my home so that I can use my laptop to upload to binance.

I still haven't been verified by QuadigaCX and can't even verify with kraken. I feel like I've missed huge profits - a few that I have been following (with thanks to RFD) have doubled or tripled since I've been looking. ugh!

Thanks for all the help.
Why are you having so much trouble getting verified? Maybe your ID doesn't match your facial shot? I signed up last week and basically got verified within minutes with CoinBase and Binance. I just got verified with Kraken on the weekend.
My food blog - Reggie The Food Critic.
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Jul 29, 2005
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So I'm guessing we should have a US bank account when redeeming our investments, or will Quadrigacx convert to Cad for us?
My food blog - Reggie The Food Critic.

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