Title: I seek advice Post by: vindyne8 on March 07, 2014, 07:26:33 PM I'm new to crypto currency. I just started last tuesday. I have a small rig with 2 x AMD Radeon HD 7850's. I am getting about 710ish kh/s on standard scrypt stuff. I am flat broke IRL. I do not have an income, and I do not have any capital. All I have is this rig, an internet connection, electricity, and a whole lot of time. Long story short, I have health issues and am only recently "out of the woods". I have infinite free time. I desire to make something of a living on the crypto currency market. I do not want to scam or take advantage of anyone. I want to be totally legitimate.
I'm asking for advice on what I should mine, what I should sell immediately, what I should hold on to, and what upcoming releases are actually worth spending electricity on. I know this is a lot of questions, and I'm sorry to be so forward. I just want to make sure I minimize my mistakes (I've made a ton in my first 11 days of this), and learn from the veterans here. Thank you for your time, I really do appreciate it. Title: Re: I seek advice Post by: XbladeX on March 07, 2014, 08:20:06 PM Hmm mine try Trademybit mulltipool.
They farm low difficulty coins that mean for you you mine more efficient than others. Look for new coins sometimes on hype you can sell for good price some coins coinwarz won't lead you to most profitable anymore because of multipools and auto-sell features and you wont be as fast as they. Invest keeps some BTC 50% then other 50% try spear in alts. 1. Alt need to be before pump ! Every alt i have bough after pump fallen hard no matter LTC,DOGE,DGC,ZET,ANC.... If you buy after pump you are screwed mostly ;/...and some coin need big amounts of BTC to keep price like Doge,LTC.... 2. Don't buy premine 90% of them have 1%-5%-10% for "promotions" that mean in PUMP phase dev can dump to 1sat when have balls : D like Wolong. Premine coins - IPO presells have good looking websites every of them are "game-breaking" - they should look that way all looks like commercial product Some of them are interesting but they are being like product for customer packed in good box they are selling good but someday someone will come with more cool box. 2. Goodcoins to invest are coins with low inflation or after few halfings, or innovative - lower daily market supply better advantage Low inflation mean that there is not many free coins around eg. if market look on another hype coin like "Aurora" it can keep still price. - 1 production day Doge need ~560 BTC to keep price if all want sell - 1 production day of LTC need about ~4800BTC if all want sell - 1 production of NXT need about 0 BTC all were mined but nxt 1st owners have 75% of it and they will get 75% income from transactions... they can be rich just for keeping that 75% all time...and getting 75% of fees and selling them back to market :P - 1 production of BC need about 0.005 BTC/day to keep price if all sell 3. Look at community if it is growing. I think coin like: Blackcoin BC - Imagine that you mine in 10-days with big hype LTC,PPC and you put all on market... 1% annual inflation mean this coin needs only 0.006 BTC/day to keep current price while Doge 560BTC... If Doge lose attention price fall. Same will be with other POW alts.I just mine others and buying more BC. Anoncoin and their implementation of Zerocoin protocool can be huge there will be only 4m Annoncoin - very rare unique coin i think it will get respect underground in TOR. Dogecoin this coins amazed me so many times while all crying when it falls it rissed again and again anh higher...haters gona hate. DGC now looks interesting to. Title: Re: I seek advice Post by: cosmoo on March 07, 2014, 08:34:19 PM DGC is establishing itself really well and is bound for a spike in interest.. but I think to make a real living you'll need to do more than mine. Maybe you could establish yourself as a trusted escrow agent, another good idea would be making and selling physical paper wallets (like woodwallets.io). Though if we're lucky who knows, maybe BTC will go to 10k and we'll all be rich :P
Title: Re: I seek advice Post by: 2Kool4Skewl on March 08, 2014, 07:00:20 AM Invest keeps some BTC 50% then other 50% try spear in alts. This is a good idea. Keep 50% in btc and put 50% in alts. I'd recommend that you use middlecoin.com to mine btc. As for what alts to buy, everyone will have their own opinion. I'd recommend that you purchase some NXT because I think it has a lot of potential being the first 100% PoS cryptocurrency. Read about the different currencies and try to make the best decision. Title: Re: I seek advice Post by: BitCoinPokerBro on March 08, 2014, 08:58:24 AM I'm new to crypto currency. I just started last tuesday. I have a small rig with 2 x AMD Radeon HD 7850's. I am getting about 710ish kh/s on standard scrypt stuff. I am flat broke IRL. I do not have an income, and I do not have any capital. All I have is this rig, an internet connection, electricity, and a whole lot of time. Long story short, I have health issues and am only recently "out of the woods". I have infinite free time. I desire to make something of a living on the crypto currency market. I do not want to scam or take advantage of anyone. I want to be totally legitimate. I'm asking for advice on what I should mine, what I should sell immediately, what I should hold on to, and what upcoming releases are actually worth spending electricity on. I know this is a lot of questions, and I'm sorry to be so forward. I just want to make sure I minimize my mistakes (I've made a ton in my first 11 days of this), and learn from the veterans here. Thank you for your time, I really do appreciate it. My brain.... It fails to comprehend where to start |