Bitcoin Forum

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on  which alt coins to buy  ?

It should be the major crypto and why? that gives you the more guarantee on the development progress and anything that related to the adoption, cooperation and partnership. Medium and small tier coin could be another choice but that will be involving the more risk.

1st choice: Bitcoin

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Good luck with your strategy, mining seems to be not profitable anymore and hopefully your farm would run again to help the network you are supporting.  :)

That is, it turns out that today you still do not understand what exactly to invest, but you understand that you need to sell your farm? This is of course completely your right, but I think that the best that can be done today is to invest in top coins.

I would like to see double bottom prior going in on BTC and ETH...personally I am looking at PIVX, Monero, ETH, NEO and XRP.

Dude, you should stick to it. Anyone is eager to get rich overnight, but how many people can succeed? In my opinion, if you can't overcome the current suffering, then you will not succeed in doing other things in the future. Everyone here is almost a loser in 2018, so you are not the only one.

Personally I just focus on bitcoin , because I'm already earn more than $ 10.000 over 4 years because of it.
For alternate investment, ETH may become the wise choice , just do the same, Hold it because I will keep doing it for next 1 or 2 years !

I know the BTC is always the best choice.

But I use crypto currency only as investment, so I want to buy some altcoins have the potential get more profit...

The main suggestion is to get in step by step, not the whole amount at a time.
The second one is to get away from alts. My investment strategy is based mostly on BTC at the moment, because I don't think that the market has reached the real bottom yet.

I will advice that you should not sold all and then buy into some kind of shitcoin,rather,invest in the best coin we have now like Btc,ETH,Xrp etc.You cannot afford to sell all and loose all.

Why not try to invest in btc or eth? We may say that 2018 is not good for those 2 crypto but they already showed us what they can do. To be honest i really do think that 2019 will bring more investors to cryptomarket especially with what will happen in btc, there are a lot of news and controversies against btc but as soon as all of it are cleared then btc will be back to it's normal price but then again this is just my opinion.

buy anything from top 10 coins and in the bull run you will easily 10x your investments but no one can predict the bull run when to start

I am really sorry to hear that. Miners are greatly important for this market and future of all cryptocurrencies. Yes it is not profitable thing to do right now but I am sure it will change soon.

I also suggest Ethereum right now. It can rise before Consantinapole fork.

Well i think it is a good decision considering the no profitability of the miners from many months, as far as best buy is concerned i think eth under 100 was the best option it still is good to buy as im bullish about eth in coming months. Some other good buys can be npxs below 200 eth satoshis and xyo network below 1000 eth satoshis both are good for nice return at these levels.

If you are solo mining did I guess there's some truth about the news that small to mid mining farms are closing because it's no longer profitable, although you will be bored easily because your rigs are all gone. Anyways, as far as financial advises, I'm not good at giving one so I will leave it out to the "experts". But in my honest opinion, Bitcoin and Ethereum are the only one that can give you a good return long term. Alts are good as long as you can ride the wave and exit on time. Best of luck.

I think an almost safe bet for 2019 is Waves. The price has also declined sharply due to the general market, but there is happening so much in the background. 2019 also includes an airdrop to Waves holder on a new project called Vostok (permissioned blockchain based on Waves technologies for enterprises). There are many competitors from Ethereum, But neither EOS nor Cardano are as good as Waves.

I'd agree with your decision at this point, you can always buy back your mining rigs if it becomes profitable to do so again. Consider the alts that you were trying to mine but were too costly, they're likely to see price increases as people take similar action to yourself.

This is the sad situation now. Private miners leave the market  :'( I wonder if the mining will now become fully corporate? If so, then the crypt will gradually come under the control of state bodies or large investors and no one will be able to earn more

You make the right choice ,I think it's best to buy coins directly instead of investing in mining rigs ,they are not worth it anymore but if profitable again then you can just build  another rig instead

You can choose to invest in altcoins that are ranked less than 100. At present, their prices are very low. When the bull market comes, it will definitely bring you a fortune.

a pretty good strategy and entered the market again at this time was a good decision. This is indeed a good beginning of the year to return as the market predicted will experience good achievement compared to last year. large coin became the target for many investors as ethereum because they expect the increase of hardfork.

i think you are opting good strategy, i suggest you to go for btc and eth . other than this you can look out for top 10 alts for making investment.

A wonderful decision, today these coins are also a normal solution. But I still think that investing today is a good opportunity for future income. But this is usually only speculation. Maybe nothing good will happen.

I saw that a lot of people start to switch off or sold their mining rig because of current market situation their mining profit can't paid the electric costs, however at least you got some money back, try to research top 100 altcoins, most of them have potential to gain big profit in next market pump.

If you want no risk or low risk, btc and eth should be fine.

But if you are looking for a big win, i must advise semux. It can grow a lot!

Buy ETH and XRP to have some pure profits with less risk. Also, don't forget to keep some BTC. I always put some BTC. Investing in only altcoin may give you much profit while investing in BTC is less riskier than altcoin.

I have heard that many professional mining companies have stopped running most of the machines. The revenue they generate is not enough to pay for electricity. This is really a bad bear market. Both investors and miners are huge loss.

It is alt season now so selling mining equipment will give some funds to invest in other coins like Cardano, EOS, and other top quality coins. Zcash is a good privacy coin to add some variety, those might pump as regulation kicks in

I suggest to diversify your portfolio and buy Bitcoin and Altcoins from top 20, for examle Ethereum, Litecoin, Monero, Dash, Neo, Nem, Eos, Cardano, etc...

Crypto mining is no longer profitable. Selling a mining machine may be a good choice, but if you want to invest, I think it might wait for a while.

Bitcoin also makes good profit for me so this is my top suggestion to those who wants to enter in the market right now. The only altcoin that I trust much is the ETH, you can see the market right now that ETH was able to get back in the top position which is a sign of a real strenght of ETH. You sacrifice a lot and hopefully that you will make a good decision, solding your rigs wll become more worth it if you put that money in the right coin.

Buy Ethereum. It will soon grow strongly in price. In a month there will be news about Ethereum 2.0. This will give a good growth stimulus.

Why not convert your mining rigs to Gaming rigs then sell it on the the market? But that's fine, I advise you to buy Ethereum, look at some news and you will figure out why. Though, mining might be profitable soon, It's the right thing you've done.

I am not sure it's time to buy in) But mining became really pathetic now, that's true. I wonder what ROI did you get from this? What was the buy price and what was the sell one? Bet you've lost at least 70% as result.

That is the wisest decision to make at a time like this and I agree that mining is not that profitable for small time farmers. No hard feelings but the fact that you only have that number of rigs cant actually cover the bills and the price movement for altcoins is not that favorable. I suggest you grab some potential altcoins like Credits, ADA, XMR, EOS, NEO and the most bullish this month, Ethereum.

Analyzing the trend and knowing which coins can be a good one to divert your money, as mining is no longer profitable from what the market conditions right now, but before you jumped in make sure that you study the whole industry, avoid losing your money by picking the wrong project.

With that being said, you are lucky to get your money back and thinking of investing in the cryptocurrency market. I guess the best coin you could buy and invest  is the coins which belong in the top 30 in the coin market cap.

Selling all mining computers and use this money to buying cryptocurrency at this time, instead of losing cost for mining is also a wise choice. And the trend of future will also prioritize POS instead of POW

I'm going for Eth and Monero.
I see a lot of future on both platform and their coins as well.
Good luck to everyone this 2019!

Just look at the top coins and your money will be good. Go for ETH, XRP and EOS these coins can make a big comeback and its price will become higher until they reach the new peak. Go for long term investing and don’t forget to own bitcoin, this is still a top coin that can generate profit better to have it on your portfolio.

You are wise to get out of mining, especially if you were doing any of the major coins.
At this point, the only 2 options you have is to join one of the huge mining pools that monopolize everything and compete for hash power.
Or move to the middle of nowhere on earth where utilities will be dirt cheap.
Neither are attractive options.

Now that the market is low, it is best to take all that money and buy up btc.
I know you asked for an alt, but in times like these, your best bet is btc.
You could split it up and go for one of the smart contract projects (like neo, ada, etc.), but I think you will find that btc will give the most consistent gains.
And it's dirt cheap right now too.

yes, bought altcoin for now it's great for holding in long time, but don't fast for take action to buy altcoin because market condition for now is not stable, another bearish maybe are coming nearly

It's good that you sold the cords as mining is not profitable these days and its better to Invest in crypto currency to see some changes in the value to get some profit. I suggest you to go with the Top 10 coins in the CMC once after Investing kindly wait patiently for few more months to see a change in Market don't be in a hurry.

Why altcoin? Go bitcoin.

It's cheap for now but there is a higher chance that it will go upward.
But if you are really decided to choose an altcoin then I would go Ethereum. Somehow I think it already reached its bottom so it is obvious into where it will go next.
Of course it wont go zero. There is still a lot of users that transacts with it.

yes, with electricity and other costs, mining is indeed very unable to benefit, because the current market price, selling machines to switch to buying several altcoins for us to make a long-term investment, is an alternative to be able to generate profits in the future, but indeed we must really be able to choose and if we think that the altcoin can grow rapidly in the future, and indeed we should not be wrong to choose.

Yes, I understand what you are talking about, because I also stopped doing it, although it used to bring profit, now many projects are switching to other systems such as POS and basically there will be such systems. What can be said about this? I think that our time is passing.

I cannot blame you I think you made the right decision only big companies with mining in cheap electricity can do mining even cheap electricity cannot even guaranty profit now, it's better to buy some good coins and just hold for future profit, we are on a dip and soon bull run will come.

Maybe you should check which altcoins the Palm Beach Group recommend and also check the progress these altcoins made in 2018 and going to make in 2019.
Which means you will have to put some work into it / do some research, so you dont end up blindly investing in something.

Keywords to focus on :

roadmap
use cases
vision
progress
financial sustainability (can its dev team survice and operate in strong bear markets?)

there are lots of good coins on the market today. one of them is ethereum, soon ethereum will start hardfork. it would be very profitable to buy now.

or you can buy new listings in the market, if you have a lot of money there's no harm in gambling with new coins.

I think that major crypto like BITCOIN, Ethereum and Ripple are the best choice for long-term investments..they have good liqudity, big community and strong teams and probably that they will fail in next year is smaller than other "smaller" coins.

Hit this season with ETH and Waves. What do you like better choose yourself. ETh after the update will grow. The waves have already grown from $ 1 - to $ 3

Many miners sell their farms. It is strange that they generally worked for so long without visible profit.

It is very risky to invest what you have in real life that could give you sure profit on crypto. You do not have to expect that much that you could get rich instant because you do not know what will happen in the market and if you cannot handle it properly you can end up with nothing but loses.

It is difficult to argue with such doppings. Of course, now the best investments will be top projects, I am sure that many will agree with me here. Today, these projects are probably one of the most remarkable opportunities for the implementation of new financial improvements.

if you want to buy, then try going to several big markets and see some of the coins that are included in the top 10 list because they have potential when bought and traded after we buy.

You have a point,  it's not cost effective to mine for some, not generally. Individual miners feel this heat the most. Since you sold your rigs, and want to get some alts on your portfolio, I think you should go for the good projects at top charts on coinmarketcap if you are going long term. Ethereum won't be bad to hold some, but I'm not a financial advisor, please do proper research before keying in.

I have a proposition for you. Why are you still thinking about it? Urgently need to buy ETH. At the moment, this is the most promising currency. You can also Deposit a small amount of money into XRT.

My first choice will be Bitcoin, the price is relatively low now. For altcoin, ETH, XMR and Neo are worth investing, the prices have dipped much in this bear market.

You have to be really careful now. Investing in altcoins is not something you just dive into or seek opinions on this forum. You will get several answers and suggestions, be wise not to make the wrong choices.

It was a great decision, because mining is pretty unprofitable at the moment. I wish you the best of luck with altcoins! Be advised and invest only in certain projects that are actively working on their product development.

I think the top 5 coins on the coinmarketcap list are worth buying if you want to invest, because the will be very profitable to keep them for 2-3 years from now.

And of course your patience will be very tested for this.

Well as for the coins there are really much to buy, but i think you should never do such a thing like selling your farm into crypto. That is really a bold step you've taken. you can get yourself some potential coins like monero, CHT, cadano and liber.

I feel you are asking a question you should have asked before selling your farm, you suppose to know what coin to invest in before selling your farm I just hope you will make necessary to search before putting your hard earn money in.

I don't think closing your farm for crypto is the best thing to do,most times crypto is meant to be on part time especially now that the market is bad.You can actually combine the two,why close your farm when you are not even sure of what to invest in.

Sorry, for you that you should close your farm, but I am aware that the price of the electricity ( some countries) , the mining difficulty and the market price is not in favor of the miners. In what to invest it depends on your preferences, what would you want to achieve and how big risk want to take. The most secure investment is in top coins ETH, BTC.

you made the right decision because today is the best time to start buying a variety of promising coins them very much in the market I advise you to buy coins that already have a working business I have 1 example of this coin I will store for a long time because the company is very promising its name Pundix

Buy bitcoin and ETH, or the top 10 in the market, there are worth investing now, they will survive
even if the bear market will continue and I'm sure they will recover easily and will probably make us profitable bigger than our expectation.

I would also suggest that you purchase Bitcoin and Ethereum, and perhaps some other coins like ripple.
And never forget to spare some of the fund for something unexpexted.

Investing now still has risks because market prices are also not stable. But if you want to invest which I think is safe is the top 5 coins. Like Bitcoin, XRP, Ethereum, and EOS are very worthy to buy. But you also have to look at the market price situation when buying coins.

Guess we are on same page my friend ,I had no choice but to let go of some of my mining rigs ,they are not profitable anymore so I used the cash to buy some coins I never had

I think that's a wrong move,profitable from mining is affected by market price and same for investors too ,if market price start surging you will be able to make profits from your rigs again

There are actually a lot of options.I would advise you to spend time and study in more detail the road maps of different projects.How they develop and what they are doing at the moment.Knowing this information will make it easier for you to make investment decisions.

I advise you to pay attention to neo, in my opinion this is the best altoin with great potential. Now its price is very low and this is a great opportunity to buy neo.

In 2019, the largest increase in liquidity can be observed in the cryptocurrency that is applicable in the real economy and will help to enter the market for large institutional capital. Analyze, find coins with great potential and invest in them.

Good choice.
In my opinion, you can use your money to buy top 10 coins at coinmarketcap.com. 
And if I have money like you, then I will use a portion of that money to buy Bitcoin.  Then I will use some of my money to buy ETH, XLM, XRP and EOS.

Now there are a lot of decent altcoins on radars. I would prefer to get HYDRO, OCN, QKC, SKYFT and many more cool altos. Try again to consider ETH, it seems to me that this year will be successful for this coin.

I agree with the author and I also refused to mining in my time. For me, it also became unprofitable, primarily due to the high cost of electricity. Maybe in different countries in different ways and somewhere is low prices for electricity. Then, there, of course, is profitable to mining. Well, I suggest to invest in the ETH because in any case, most projects sell their coins for the ETH.

I think the best advice to buy altcoin is still Ethereum. Now, after the transfer of the Constantinople update, the price of the coin is very favorable. In addition, the coin is committed to the transition to the POS algorithm and it will allow you to have a passive income. Therefore, the more ETH will be in your wallet, the better.

probably now it is best to buy exactly those altcoins that are already on the market for a long time

Recently it has become unprofitable, I heard about this problem. Although I have never done mining, I think that today as a whole it is already losing interest. Therefore, probably the period when mining was popular has passed.

It is something I expected to happen, because crypto prices aren't reasonable for home miners.
All of my friends related to mining abandoned this activity and it seems for me that it is not profitable . To my regret it is so

I think ethereum could be a good option. It wouldn't be too far from the old days you know. If someone has mined altcoins before they are somewhat familiar with making a return on their investment, if you invest into ethereum right now that means you will be making money thanks to staking when it starts. You are not going to make a lot of money but your ethereum will be basically mining ethereum for you.

That way you will be investing into something that is projected to x10 when bull comes, investing into something that's staking itself and making more money and investing into something that is not too far from what you used to do and gives you a reason to check the wallet every 15 minutes when you are bored. If you have too much money than DASH masternode could be the same logic as well.

right decision. Surely you do that based on the market down? yes I'm sure that's your reason. it doesn't matter if your decision is like that, because a bad market makes mining revenues uncertain, a good step is to buy altcoins while there are still opportunities. I suggest buying altcoin ethereum and xrp because both of these coins have great potential in my opinion and you better research them first.

OP, you should have considered running the two at the same time. Your farmland is capital asset, which hardly or does not diminish, while cryptocurrency is a digital asset that is volatile.
Yes, you can make it big in cryptocurrency and still buy back your farm, if you truly understand crypto.
The reason you should not leave your farm, is because you may not be able to predict what the outcome or status of market would be.

Yes, the mining situation came to end 5-6 months ago. I used to have small mining history too, with two PC and 14 screen cards i was mining ethereum but now oth two machine closed and waits me in storehouse and i am thinking about the selling them. But even i sell my system i would never invest to altcoin today.

but nevertheless, you still invested your money in the extraction of ethereum, Avito computer equipment maintenance, including electricity. Even the mined ethereum was not given to you in vain.

If you are a newbie in crypto, it would be better to buy top altcoins and bitcoin. You can open coinmarketcap and find the most famouse coins. After you can buy which ones you would like.