Bitcoin in Lebanon

so.. i've been mining for about 3 months now, i don't use nicehash, altho it's nice if you want something simple and easy, but they take a small fee, personally prefer not having a middle man so i mine ethereum using t-rex miner, the benefit of nicehash is that it mines the most valuable crypto at the time in exchange for a small fee, ethereum has been the most valuable crypto for most of the last 2 months i've been mining, so makes no sense for me to use nicehash, here's a quick and easy guide to get into it:

1. get a wallet, safest being a hardware wallet( not cheap or easy to get in lebanon but worth it if you are planning to invest into it), second best is a desktop wallet (i use MyCrypto), not a fan of phone app wallets but i guess they are way more convenient.

2. choose your miner, as already said, nicehash is easy and simple to use, benefit being they will choose the crypto to mine for you and pay you in btc, but if you want my advice, just mine straight ethereum(for now), you can check daily on whattomine.com to see what's the most valuable coin, if not using nicehash, the best mining software for you will depend on your card and coin you choose, i am mining ethereum with gtx 1060 and gtx 1070 ti cards, so i chose t-rex, very simple to use, download, enter your wallet address and pool you want to use

3. choosing a pool, now unless you have a bunch of asic miners or an ungodly amount of cards laying around, mining solo is not recommended so it's best to join a mining pool, you can use poolwatch.io to pick one, it's a little tricky, the website will show you pools sorted by hashrate, high hashrate also means higher difficulty, so it's best to ignore the first one or two pools you see in the list (it's also better for decentralization, the whole point of crypto, if a pool has over 51% of the hashrate power you risk the coin being hit with a 51% attack), obviously you also take into account things like server location and fee, pick a close server because the better your connection to the server the less stale shares you will have.

that's all you need for very basic knowledge of how to start mining crypto, obviously i can go on but i rather not overwhelm any new comer to this field, if you want more info there's a vast sea of resources available on the internet, and i do recommend you inform yourself before you do any financial investments. godspeed fellow miners.

I just have a question, how do you guys mine with all the powercuts? You have a UPS for internet and pc and you mine on power generators as well?

i mean.. you should have a ups already anyways? my ups lasts around 30min which is ample time, but even for normal non mining use you need a ups in lebanon

DOGE hodlers

So who's holding? and buying the dip?

I literally had the chance to sell at 0.7 but I didn't because I believe it will rocket eventually.

Also what are your "sincere" and not "trading" thoughts on Barry Silbert's tweet?
Personally I believe it's just promoting BTC for the rich to become richer.
Some of those whom have missed the train when BTC was 4k-8k or even lower are investing in bitcoin now not because it's going to be a global virtual payment method across the internet (specifically merchandise and other supply websites) but thinking that they're on the "safe" side inwhich there's a small chance that BTC will massively dump and their money/investments will be safe (no i'm not talking about whales, because non of us are "whales") so i'm thinking small.

When you get to pay something in general i don't think it's audible nor visually comforting to pay something in floats (numbers) such as: 0.01btc for a phone or anything really. I personally and this is my own opinion that this is not "the future" of payments (i mean the idea of paying in floats! not BTC itself)

So it would makes some sense to me that if DOGE goes to $1 or LITERALLY any other coin/token that is equivalent can and would allow people to interact with the token/coin more comfortably without getting confused. Example: "I'm paying 0.02btc for an iphone!" it does sound not too much in terms of numbers right? I'm sure those whom have bigger brains understand what i mean.

Also what are your thoughts on SNL earlier? I personally enjoyed it and wanted more tbh! my favorite sketches were:

- Weekend Update
- Murder Durdur
- Chad on Mars
- Post-Quarantine Conversations

They were hella funny!

Trading doge absolutely, investing no. At the end of the day doge has unlimited supply, and 3 wallets hold half of the available doge. Same goes for Shiba and safemoon. Just couple of weeks ago, UNI would show you a huge message to proceed with caution when buying Shiba.

I believe the meme coins are a great way to bring new money into the market, specially from people who just heard about it in the news and have no idea what or how crypto works. When or if the alt season is over and the market is bearish, doge and shiba will be the first to fall.

As for btc floating numbers, I do agree it sounds annoying, but you can calculate that in sats, eventually wallets and people will be dealing with sats instead of btc.

if you're seriously hodling dodge.. i'm sorry i don't know what to say, maybe do a bit more research and invest in an actual useful coin like ethereum or polkadot, even monero is useful because of the extremely low transaction fees, but who am i to tell you what to do with your money.

I know there's a lot of telegram / whatsapp groups out there about crypto currency in general as well as selling / trading.

But what do you guys think if we make a private group for us the Lebgeeks community, say on telegram due to more privacy, and I think we will be more comfortable discussing crypto in general and even buying / selling / trading amongst each other.

EDIT:

After a couple of members PM me about the group, I went ahead and created it.
Whomever is interested in joining, kindly PM me for the invitation link.
It is preferable to put your telegram account the same as your name here if you don't have one already.

Feel free to start such a group, but please do not associate it with LebGeeks or advertise it here (apart from the post above).
For those interested, contact AVOlio via PM.

All new shipments will be a gamble game now. Only 3090 is out of risk. They will be forced to use a driver or the graphic card will stop with no roll back like the 3060 now. This is applicable no none LHR variants.

Source:

https://www.ign.com/articles/nvidia-alters-its-graphics-cards-to-make-them-less-useful-to-cryptominers?utm_campaign=trueAnthem%3A+Manual&utm_medium=trueAnthem&utm_source=facebook

Hello guys we own a Collision repair and a Paint Booth Garage, Thinking of putting ads online that we accept crypto as an alternative payment. Maybe it will attract people, What do you guys think?

arithma wroteHello
I recently (not nearly a month ago) bought 9.5 BTC at a total cost of ~$315.

Now they're worth $378 if I needed to sell them. That's a good 20% return on investment without doing nothing. Though it's not much since I was afraid of taking a larger risk.

Is anyone else following the BTC craze?
Are there any possible outlets in Lebanon?
If not, is there enough potential interest?

I understand all I get is going to be anecdotal evidence (at best) and some subjective opinions. Still it's the only resource I can find at the moment.

Just curious, did you sell your BTC? =)

Guys I made a very small amount from GPU ETH mining as a test for a couple of month or so. How can I check out that amount in here locally? and will it be USD or LL?
I made an e-wallet but they're still on the mining software for now.
Thank you.

LifeEngineer wroteGuys I made a very small amount from GPU ETH mining as a test for a couple of month or so. How can I check out that amount in here locally? and will it be USD or LL?
I made an e-wallet but they're still on the mining software for now.
Thank you.

You need to reach a certain threshold for the amount to be paid out. It's usually either when you reach 0.1 ETH or 0.01 ETH paid out at the 28th of each month. Which pool did you mine on ?

Guys if someone is interested to sell and cashout a respectable amount of crypto (crypto -> USD cash in your hand), I can help with this service. PM me.

MrClass wroteGuys if someone is interested to sell and cashout a respectable amount of crypto (crypto -> USD cash in your hand), I can help with this service. PM me.

Where is your location ?

vengeance666 wrote

LifeEngineer wroteGuys I made a very small amount from GPU ETH mining as a test for a couple of month or so. How can I check out that amount in here locally? and will it be USD or LL?
I made an e-wallet but they're still on the mining software for now.
Thank you.

You need to reach a certain threshold for the amount to be paid out. It's usually either when you reach 0.1 ETH or 0.01 ETH paid out at the 28th of each month. Which pool did you mine on ?

Not an expert on pools man. I downloaded Kryptex software just to make everything work seamlessly without my intervention.
I have like 70USD or so, if I remember correctly.

You guys can also mine directly to the binance pool that way it's just a simple click to transfer it from the pool to your binance wallet

Hello guys,

How can I cash out my USD here in Lebanon?

I have Binance account and ADVcash account. But I don't have a bank account in Lebanon.

So what do you suggest? Shall I open an account with BLOM or Audi or another bank and transfer from ADVcash to the bank account? or it doesn't work?
Or is there any other way?

I know there is P2P on Binance, and to be honest I've never tried it. There are option to get paid with WesternUnion from dealers here in Lebanon. Did anybody try this?

Any input will be useful, please share your thoughts. Thanks.