Bitcoin Forum

I've been sleeping on a false hope for a very long time, I was a fan of new cryptonote coins and I've spend years gathering them, thinking I will be rich one way or the other, I mined coins like

1. Mask Coin
2. Goro Coin
3. Snowflake
4. Recoal
5. Tokl
6. Festival Coin
7. Btor

All these coins are now abandoned and dead, no update since 2018, I'm sharing this today to warn those who still believes in petty coins like these, stop wasting electricity and mine better coins like Monero, Haven Protocol and other popular cryptonight coins or regret later on

I do not know about any of a coin what have you listed here amd you should also leave them all because what is the value behind the coins? PoW is the best consensus what we have, it brings a real value to the coin because miners have to spent something to get a coin.

Cryptonight coins were ones much popular with CPU and GPU miners. The early miners of Monero made some good profit. There were a few other CPU mineable coins that got some price after a time but I don't think any of the mineable coins have got any success after 2018. Electroneum and Grin as well to some extent NIM were profitable a bit ago and now with increased price, they are also getting difficult to mine.

This is the risk of mining small shitcoins and if I have a chance to mine I will always go for the top coins because that is more profitable and can cover all your expenses. Mining is not easy mate, so you should know what you’re doing and if you think you’re not earning in mining anymore, start looking for a better alternatives.

It is unfortunate, even though in 2018 there are already many Altcoins that are better to be mined than the Altcoins you mentioned, if we look at 2018 there are indeed very many new Altcoins that are born and die at this time, so why don't you choose Altcoin that has value in at that time ? if you choose Altcoin which is valuable at that time, then you are already very rich.

You choose the wrong coins, mining new coins is just like looking for new coins to buy and hold, you need to do research on the coins before mining them, don't just mine because their mining difficulty rate is very low, I mined coins like LOKI and ETN and I make lots of gains from these two coins

Sorry about your loss, I am confusing how you fund those shit?, how you manage to cost your electricity before if you don't sell it?

Thats why its better to just ignore noname shitcoins

If these coins have died since 2018, then I believe you are wasting time and electricity on these projects. You will not be able to profit when mining dead coins. Focus on the top altcoins in this market because in the long run its price will definitely increase and make you profitable.

I thought that before try to mining those crap coins and you should have known the risk that you will be faced it when you were trying to deal to mine crap coins.

People have a different opinion than you and there are so many people choose to mine trusted coin rather than bet into the crap coin. 

That's right, never mine shitcoin in this market. Its price will quickly collapse in the future and make you not get much profit. And if you hold them in the long term, they will surely die. Time and money should be spent mining or investing in top projects in this market

now there are so many coins left behind and dying, not only mining but there are also investors who lost their money because they chose the wrong coin to invest, before we mine or invest, make sure the quality and prospect of the coins we will invest first.

OP might have learned a lot of lesson from here. It looks like that he will never try to do that again. he was wanna trying to get the chance to expect a lot from those coins while the probability to be the shitcoins even more than the change to be a legit coin.

Most altcoins are dead, especially the altcoins that use mining. I've also wasted time with bullshit altcoins investing in mining and masternodes in them. In the end, their prices dropped hundreds of times and made me suffer heavy losses

very unfortunate it turns out you are on a project that failed or can also be said to be a scam project.
you should be wiser in choosing projects. this time before starting to work on a project you should have to check it first. whether the project has the potential to develop or instead will become a junk project. check beforehand so that you don't waste your time.

Cryptocurrencies with algo cryptonight is very much and originated like mushrooms after rain. Unfortunately, many of them were worthless and disappeared as quickly as they arose. Personally, I think it is always the risk that will be successful.
Verifying basic things like the support team and the project as a whole can be helpful - This helped me, for example, with the X-cash project. After a short time, it will become clear whether it makes sense to do mining.
Yes you are right it is better to mine coins that are verified. But it is also good to monitor new projects, because there may also be a project that will be successful in the future. I would not lose hope in serious new projects - with different algorithms.

You brought a pile of shitcoins and say that it is not necessary to mine them. It seems that you did something that you were not asked to do - you said the obvious thing for everyone that no one else is doing. Is everything okay?

That is a valuable lesson for you. Never mine small altcoins in this market, they will never make you profit. And just as you say, we should only invest and mine the top altcoins in this market to ensure profit.

I myself have never heard the names of the tokens that you write, even when in 2018 I have never seen them at all, it's only right that now they are dead and the team ran away, it is hard to believe they have made you really lose.

make this as a lesson and experience so as not to do the same thing for the future, hopefully all users here can learn from your bad experiences in the crypto world because work without results is the thing we hate the most in life.

I never heard of this coin, I agree that miner should only mine those stable coin that you can mine like Monero, compare to investors you are losing a lot electricity mining rigs and you have to spend a room for your mining rigs, but there are a lot of people who are still attracted to mining new coin which has a very high risk.

Oh, what a waste of electricity that you had mined those shitty coins. I never heard those coins, 2018 was full of scam coins. I hope that you learned your lesson, we should do research first before to mine but it's better to mine that already listed in the market.

It's not just electricity you wasted.
Time, energy, and effort.
You have to read all of those first and analyze everything specially the profits that you will have for mining it.
Yet, they just dumped it like its nothing.

Top 100, pick one.
There should be one there with low difficulty to mine.

Their are many things that goes on stake like mentioned, its not just money but various other things like time which is the most precious because once it goes away then you would not get it back rest of the things can still be pursued in future. Efforts and energy also is the right thing which gets wasted. Learning from the mistake and not repeating it in future will make be help the person to grow as well.

How do you keep mining without any certainty that the developers are working on the project and have the intention to develop it, sometimes it is good to keep up with updates to know if to buy or mine a coin, all the time wasted on those projects should have been invested on good projects, now you have learned and know better.

I wonder why you did not sell those altcoins when its trading is active.  You should have mined those altcoins that have strong buy support and you should have been vigilant for sudden changes in the market movement.  Most of the mining coin especially those who have not catered much attention and does not have much to offer just simply vanish from the market.  

I am sorry to hear that you dreams of becoming rich won't come true through those altcoins.  Maybe if you try again this time, since you are now well equipped with experience, you will eventually succeed.

Recoal and Btor was trading on exchanges back in 2018, OP must have intend to keep or hold those coins, if he was selling for Bitcoin at that time he would have make some gains, the lesson here is never hold new Proof of work coins, just mine and sell instantly for better altcoins or Bitcoin

I also mine like you, but I didn't hold it for a long time. But when it can be sold and make money, then I will do it. And I prefer to add tokens or coins that already have a market. so there can be results. so it doesn't waste electricity or time.

He gives us a really good lesson never try to mine useless coins. It's better to tell those who are still mining crap coins to move on into the major coin that will never deceive them all and waste their time to mine scam coin.

I suppose it wasn't entirely a waste of time and money. In the end you got out with the most important lesson about mining and you now also know the process step by step so it won't take you too long to upgrade, providing that you also have enough capital to invest into hardware.

In any case, this is a well learnt lesson and it is one all miners should be aware about. In the end, mining is similar to trading in that you still have to speculate around the coins, risks and rewards.

I am very sad to hear about your story when you get a not valuable coin from mining work. I just want to ask a little. and what I will ask is .. Why didn't you choose a coin that already had a good sale value when you decided to start mining ??

Mining coins that are not popular is always a risk, unfortunately for you it did not paid off but at least you learned an important lesson out of it, the only problem with mining popular coins that could give you profits is that there is a lot of competition and you will need the best possible hardware to have any possibility of making money otherwise you're going to waste your electricity as well, as such I will recommend that if people are not really well versed in all the issues mining entails that they do not do it.

There's a big problem with some investors even with some miners who don't care or careless to check on the coins they're mining if there's a progress with the project or not. Even some investors, checking their wallets for growing coins or tokens aren't their concerns, sometimes, they miss out of the big picture of profits before they check. Thanks for the reminder, hope those wasting their electricity for these shittholse tokens find this and terminate their mining medium. Although, this is the very first time am reading about these set of coins in this space.

I have never heard of these coin and I am also not a miner anymore. I think mining is not very profitable anymore if you are not doing cloud mining. You did not get anything from it but I think the most important thing is that you have learned some lessons from it. Learn from your mistake and do future plans for your mining. There are other good projects just trying to find one.

I fully understand your idea to save some coins up and hope that one skyrockets. But you could have stored them on an exchange since the value wasnt that high and set tresholds so they would get sold as soon as it hits a certain price that you have set.
I'm sorry for your loss OP.

Honestly to make profits from mining today you will need to build mining rigs that cost thousands of dollars, using a GPU or more doesn't cut it unless electricity is extremely cheaper in your country, I sold all my graphics card for ETH and just hodl that in my wallet, I was once like OP but I quickly realized that there isn't any path ahead in this mining of a thing, I'm glad I quit

Why mine shitcoins when you can mine high potential coins. You’re definitely wasting money when you started mining those, you probably did not make a research before mine those coins. But you gotta move on with that and look for the real deal.

They sound like some bullshit coins that were shilled and then made a exit scam. Probably OP found them easily mineable and had high hopes,,,,

This is so true.. Gone are the good days where mining what's lucrative and people literally did little but gathered great profits in the end, these days, it isn't lucrative anymore and one has to scrap for the more established projects to actually get a shot at some earnings. The smaller projects don't have much structures in place and have get listed and their value increased before one can make any gains from them. This process usually takes time and sometimes, these projects get abandoned leaving all your investments in ruin.

You could have mined the wrong coins. Maybe it wasn't your time. If the cost of electricity in your area is low, or you can find a free source, I'd suggest you try other options. There are alts with high profitability percentage.

It's pity of you gathering these coins thinking that they could reach the level of bitcoin in terms of everything at least the price. Have you seen the entire market loaded of shitcoins already? I wonder why did you do this. There's the bitcoin on top of the market where you can make a profit, or mine (not advisable as the halving already taken place) best that you can is to invest on bitcoin or any other coins that has already a power. You've got no update since 2018 yet you are holding into something that is nearly impossible to happen. I would never wait a year or two for a coin to pump especially when it does have a name at all.

if you did not checked which coins are best to mine in a particular moment, then yeah, you are wasting your electricity and should stop
mining is not that profitable any more, nor with BTC, and with other coins especially, but if you follow data and change coins at right moment, it could be profitable enough, depend on electricity costs and mining equipment that you have

did not heard for any token that you mentioned in first post

Don't put your money in new coins, that will be hurting you and make you feel angry because you have spend lot of time and money that just for nothing. If you have money just focus on big coin, famous coin that have profesional team since long time. You must be sophisticated investor that know when to enter and get out with profit.

To be honest mining even the bigger coins has lost its charm now considering the high costs of equipment, electricity and then the carbon output the only adopted new model with more or less same functions is staking and it is getting popular as the largest altcoin Ethereum is also upgrading to offer pos algorithm.

Cannot be more to the point i fully agree with the thread starter and over the years i was advocating against mining useless and low quality coins because it was clear that they will lose their market value over time because eventually there will be sellers and sellers in the market and no real buyers because all these coins have no other usecase, services or ecosystem so there was literally no demand or buyers.

Monero might do good if it doesn't get delisted from every compliant exchange and it might happen if those new strict AML laws go through.

The coins you've listed were bad to begin with and did not even do enough advertising. No big community= no chance to stay on the market for long.

Yup you are right it is definitely an amazing algorithm but with costs involved and inefficiency of mining with complains of no or low profit pow is struggling to survive and i am sure market is largely moving towards the alternatives i am sure pow will still survive for many years but it is becoming less feasible with every passing day.

One funny thing is that i do not know any of those listed coin. So the question is why would you mine blindly? why would you mine all because of mining and not rightly
Always do your own research, and just invest by buying and hodling in a while

Not just not to mine them, also dont buy them or even accept if someone gives them to you. Focus on the ones that will be here 10 years from now. the ones with community and with use case.

You can regret something that you like so much before.  Just look it as the lesson that you should think before act.  Do not spend your time with big eager that will give you bad effect in the end.  Think deeply and wise about everything is the most important thing. 

thanks, though dont know those coin, as regards to coin like that they are shitcoin. Shitcoin is a pejorative term used to describe an altcoin that has become worthless. Shitcoin value may disappear because interest failed to materialize because the altcoin itself was not created in good faith, or because the price was based on speculation and the likes

Okay thanks for reminding although I didn't hear this coin just now if you are going to mine a coin, mine which is on the top of coinmarket cap so that it will be worth it and not wasted choose other coin if you are thinking you will be rich instant because you mine a coin sorry to tell that you need to work for it or learn from it before you became rich no instant in this world, just leave that coin because it will be worth it anymore.

That are better coins to be lined if the required gadgets are available. The names of the coins mentioned by the OP are strange and that is why he is experiencing strange things. False hope on false coins. Although, it might not be thatprofitable mining top coins that are already in the limelight, but the are guaranteed. Also, there are better ways of earning, other than that.

Mining shitcoins is like buying and holding shitcoins until they get rusted and has no value. In this market, i have learned that if I should go for long on any coin, it must have a reputation and trusted, the same should go for mining.  You are paying the price which I have also paid for holding shitcoins

why you should waste time and electricity when you can monitor which coins are best for miners from this site https://whattomine.com/coins

I guarantee mining is still profitable if you choose the right coins  ;)

indeed mining is still profitable but it is very little because when you do mining it must require a very high cost to make electricity payments and repairs on some of the devices used, mining results also need time to return on investment first.

Will be honest l have neither any experiences nor any knowledge about listed coins or have heard about some of the mentioned coins. But in my view, there is a high risk to make mining with small coins. Maybe if l were you prefer top altcoins, no doubt they are more profitable than others. New coins are indefinite for mining, they are just new and most of them die after a few months.

In my opinion, if you are going to waste electricity you must waste it on altcoins which is on the top of cryptocurrency like you have said monero and many more why do you have to mine to such a coins that yoh have never been heard of so I hope you learn lesson in your experience just make a comeback to mine top altcoins to earn much profit.

Look, you can still mine but with different coins that are worth to mine and not that above you have mentioned. Better to change altcoins than to stick and wait for those coins to be valuable. Not just wasting electricity but also wasting time and effort. Or if you don't want to give up mining, why don't you try other fields like trading?

what you've made is a gamble.
ever since you started to mine this coins.
charge it to experience and learn from your mistake.
now focus on altcoin that's on the top list or with a considerable profit when you mine them.

Very sad to hear your story. You might have checked those coins' market prices and your profitability levels time to time to avoid such a big disappointment after years of wasting your resources. When ETH was trading around my friend were mining it and when its price was falling down then they switch to some other coins. If you do not have daily or at least weekly based self-evaluation of your mining process then no one could help you all of sudden.

There are lots of online calculators available to choose the highly profitable coin for mining. You must be aware of all of these things. I was mining dogecoins by 2014 then I stopped it when I was paying more current bill than my monthly saving then I sold my dogecoin savings by 2018 when its prices peaked up to 110 stoshi and I still hold that BTC to encash.

I mean mining must be a long process to realize its actual worth. So far, many people shared like mining may be profitable for future prices but not sure then why we need to mine instead of buying them directly from exchanges for the same costs of electricity bills.

I do too. I don't know why he gambled on those coins without any assurance of getting them successful, in the first place he already knew Monero and Haven Protocol why he had not mined these instead of choosing new coins. Atleast you have learned your lesson and know what coins to mined next time around.

I wonder if mining more valuable coins like BTC will cost more money like electricity or the like, compared to mining new coins which of course have fewer blocks and will be easier to obtain?
are the costs used to mine the same for both?

I think the saddest part of all this is knowing that there are still hundreds of altcoins that the creators give up on the project and end up creating great losses to the people who mined the altcoins and to make matters worse we know that new altcoins will appear that will do the same thing: the Dev's will withdraw from the project and will cause losses to people who mine the altcoin. If people do not become too demanding in their project choices, we will not have an honest altcoin market with honest and good quality projects.

Well.. I can understand the sentiment of the OP. For the last 3-4 years, I have tried mining different altcoins, and I have even tried mining Bitcoin in 2017. Ethereum, Litecoin, Deep Onion.etc are some of the cryptocurrencies that I have mined/staked. In the end, I got hardy any returns. Gave up mining/staking in 2019. Mining is not for part-timers like me, who have only 1-2 hours of spare time per day.

I am the same as you, but I invest in a few masternodes. In 2017, their price fluctuated at $ 20-40 but over 2018 it dropped to $ 0.1. It was a terrible experience for me and I lost a lot with them.

I think mining new coins can bring big profits if you jump in on quality new coins, many make fortune mining new coins like

Dero
Karbowanec
Iridium
Graft
Sumokoin

The problem is you failed to choose the right projects, it's not too late, if you still have your rigs just mine coins that has future and good team, the only way to know is by doing good research

Some of the coins that you've mentioned are shit coins and some that I don't know
You should always invistigate before you make a decision like that and waste your electricity, see if the project has a long term strategy / future potential or not
Anyway mixed opinions are around mining, many say that mining is done and only big companies can profit from mining

You're right! The very first step you should do is doing research about the token that you're about mining. In my opinion, involving in shit coins doesn't necessarily mean that you are wasting electricity. Let's think about it as a lesson that you learn the hard way! It helps you built the experience and the awareness that you gonna need in this market!

That's why the big miners are only trying to use small power to bet on the new coins caused by this. They didn't wanna try to waste their power to mine the crap coins. There are so many good coins that have no a lot of competitors in the blockchain and it looks like he can start again to mine it. He must learn a lot from this it's the worst thing to mine shitcoin.

I never heard nor read about these coins. Mining is still good but for good coins like Bitcoin in only one condition if you have free electricity or the electricity cost is very low. Always search the good project before investment otherwise you will lose all your precious money.

I think its algorithm will be harder and require your device to be powerful enough to handle it. That's why many people choose to mine small altcoins in this market, but mining small altcoins in this market is risky because they can die and have no liquidity.

yeah thats what i hear before  .  that is the advantage and the second advantage is that those coins can also pump hard so it would be easy money for you if you got lucky  but if not then you loose electricty and effort but its okay if your electric consumption is small or free at all to some   . bigger coins like btc are harder so not all miners prefer them but the only advantage is that they are more surer   .  you can earn less or big with them if their value pump or if you have a small to free electricity fee

Yes, you should learn from the mistakes of others.
It is better to ignore noname cryptocurrency and reduce risks because mining is really expensive, you need to carefully calculate your strength.

People mine new coins to become the early whales with big bags and yes you aim for the right way to make money in crypto space but you choose the wrong coins, damn of you have mined sumokoin or dero when they came out you will have thousands of dollars right now, these coins don't know how to quit, some coins are really good but not popular, just learn from your mistake, it happens

Mask coin looks fresh when it came out, it's a shame it end up dead, would have been a very good privacy coin and bit better than Monero features, if I were you I won't give up, just because these coins fail has nothing to do with luck, no one believe in Loki, Bitcoal, Conceal, can bring profits for miner like they did now, lucky are those who mined them very early when difficulty was low

While reading the names of those altcoins, I have found no hope in it. Never heard any of them and it's safe to say that you have learned from those altcoins not to mine anymore with such coins. I have an idea that you mined those coins because you have heard or read successful miners that have mined new coins and sold it at a profitable price.

Monero and other good coins, no debate on it and I agree that you should have instead allocated your time, electricity and effort on those coins rather than that ones on the list.

For many reasons I have stopped my cryptocurrency mining process some few years back itself. Some of my friends had suggested me not to stop because they were calculating profits in mining with the future prices but I was struggling to continue my mining with respect to current reward/profit levels. A business model must support us in terms of covering all the running costs along with saving some for the future unfortunately mining is not the kind of business model and this is the core reason why I decided to quit it completely.

OP's situation seems different. I'm not sure how people will be mining a coin until it will get delisted from exchanges. Because you need to check the profit level of your mining with respect to current exchange prices of that coin. I am not sure how OP had missed that. Due to heavy competition I guess now onward people may simply go buying rather than risking in mining.

I think mining coins in 2020 and the increasing number of years it will be less profitable because it is very high electricity costs with the results obtained that are not too much will only make a loss, it is better to directly buy coins at the exchange.

Basically in this sense I would forget anything that was created after 2016,,, because it will all end up a waste of electricity to mine them hoping for next altbull that may or may not come. Same as staking. Waste of space and effort and I have been there so I know!

 before starting to work on a project you should have to check it first. whether the project has the potential to develop or instead will become a junk project. check before hand so that you don't waste your time.don't just mine because their mining difficulty rate is very low. you should  mining bitcoin or other big altcoins. You choose that path mate but its not too late to start over again, learn more about mining and be more productive next time.

How can you tell if a coin will survive later on? There is no way you can tell than to take risks, no one knew Monero will survive this long, all those who came across the coin when it was launched probably said same thing you saying right now

You slept too long, you already know that the project has not been updated since 2018 but you are still mining them :D Never mine small coin because it is very risky, you should mine a coin that is already large 8)

maybe because you are collecting the wrong coins or coins that are less popular, so that makes your time for years to be in vain, I would rather choose a good coin and popular, and if you want, you need to do another way, such as trading , this may look a little advantage, but you will get the benefits.

Crypto have  made many rich, at the same time made some poor. Before investing in new coins, do your research well before putting in your money. Blockchain have blessed me but also hurt me too.

Some of the altcoins gave as much as 100x or 200x returns in 2017. Do you believe that the same would repeat in 2020? If you think so, then you can try altcoin mining. But as far as I am concerned, what happened in 2017 was a one-time event. It is not going to repeat and most of the alts may never reach a new ATH in the future. So I am not considering mining any of these coins that the OP has listed.

your tone sounds bad on me .  in times like this we need to be optimistic because not all coins arent on thier maximum peak yet but its alright to not expect big as long as we already reach our target   .

 you said some coins pump on year 2017 so the guy above must be lying when he said coin later than 2016 will never pump anymore  .  i also think that thier years wont matter because old and new coins can grow or dump  depending on thier flow  .

That is unfortunate for you buddy, I don't even know those coins name exist. Yeah, before I believe in new projects too but now I am more careful in trusting them I am not mining them though, I was investing and trading a sh*tcoin thinking that I will be rich too, I guess that is everyone is thinking. I suggest mining only reputable coins like Monero, DASH, and other top coins. Also, there are staking now no need to buy hardware or waste electricity but there are only small returns compared to mining.

I want to rephrase,;

Stop wasting your electricity mining useless tokens everywhere; mining of crypto currency token is not a joke or for fun circumstances; it is to earn, to make profits and also to become a massive whale of such token that you mine.

Anything that you do in crypto currency space, that does not yield profit is a waste of time.

 I am from Turkey and back in the day I made calculations on what I can mine and which equipments and I can tell you, no matter what you mine here it will not worth it. Sure you can profit but there is so much revenue and so much cost that at the end of the day you realize why am I making 100 dollars but paying 98 back? Just for the 2 dollars I will get back? Normally all business has a cost and I understand that you need to spend a bit to earn as well, but %1-5 of revenue as profit is not really something ideal in the business world. Thats why mining altcoins that will not be something in the future will only cause you trouble, and not going to be worth it, specially considering how little we are already making to begin with.

I don't think that bitcoin mining is something we should really go into right now. You have to take your time and study everything about mining before you decide. A lot of people are going to tell you that Bitcoin mining is no longer profitable, but I will say that depends on a lot of factors; you have to consider some things to know whether it's going to be profitable. Mining is getting tough now and a lot of miners had to drop out because their miners cannot compete due to the fact that they are weak.

Here are the things you should put into consideration: the cost of electricity, hashrate, BTC price, power consumption, mining difficulties and other things. If after putting all that into account and it's not going to be profitable for you, you can consider other means of making income through cryptocurrency, such as trading and signature campaigns.

Mining the top currencies looks good, but it doesn't bring much profit, because the difficulty of mining the top coins is huge.
I think he should divide the mining production into two parts. One is for the top coins to cover the bills, the other is for the new coins, most likely it will bring him big profits.

You know when you care. There is really no way anything that doesn't get an update to be big in the future, monero was always good, everyone who was following it knew it would survive this long, monero had updates after updates and they coded on it constantly, you just have to be following the team and be in the chats of it, because they were active.

There are coins that you might be unsure of and just stop mining, why risk it? But there are coins we all know and love, just keep at them and you are going to eventually make a profit from it, depending on electricity prices of your region obviously.

Mine those coins is like placing a bet, maybe one of those could become a big coin in the future... But you are right, if he sees the devs team get down from the ship he should stop mining them.

I think the best option is to use the mining hardware for some others popular coins and hold the coins he already mined waiting to see a spike in the price in the next months or years.

What really made you think that these coins will be worth a lot some day when you already had XMR in the mining game and you still didn't mine it? Was it because of the difficulty that you chose these shitcoins over XMR and are now crying on your failure? Accept it that you have given enough time to wrong alts and just move on. I believe mining altcoins doesn't support your appetite anymore (after watching your mining portfolio) so isn't it better to just buy and hold some XMR each month worth the average electricity bills that you were paying for your mining?

You totally do not understand what brings credibillity and a value to the Bitcoin. Why you still thinking that you can replace "work" by "printing" money? It doesn´t differ to our traditional financial system what we are fighting with.  :)

Mining has generally become less profitable with an ever increasing resources requirement. Your advise is really helpful, people need to stop wasting their resources on mining shicoins and focus on already successful and top coins. If anyone really wants to earn something about mining major coins, you have to overlook the fear of the mining being control by large minig farms and bodies. Mining shitcoins with only assumed potentials is very risky

I think that's why thread started has tried to mine a new coin caused by he has limited mining rig and he wanna try to easiest way to mine coin but it can bring a decent profit for him.
So many small miners have been retired from mining shitcoins.

OP There is no way this won't happened to you in crypto space, if this doesn't happen how will you grow? I don't expect you to quit because of this, the only way to become stronger is to learn from your mistakes, people still do what you did and they get lucky

Yes you heard that right, I have a friend who used Pentium 4 to mine 5000 Litecoin years back, he is now living a good life, see don't give up, only one coin is enough to change your life, do more research next time and make sure the project team are damn serious

I understand your work, sometimes the small money will make great value. It is just that you have not had luck, the coins you exploit are abandoned and worthless. Why don't you choose to invest in valuable coins like bitcoin, ethereum, altcoin ... Wish you the best new direction!

These coins you have mentioned here are not well known. I have not heard about any of them, so they are not worth mining. I don't even see the reason why anyone will be mining these coins. There are other better coins to mine, so instead of mining petty coins, it's best that you put your time and energy in mining good coins. I do know that some people are taking interest in these new coins because they feel that they will blow some day and they will start making profit from it.

Even the big coins in the market still have a long way to go. Bitcoin is just ten years, and it still has a long way to go. So, go for the better coins and stop wasting time with the small ones. You must study profitability of various algorithm based coins before trying another coin at least here after.

I guess this is what high risk high reward is. Mining Bitcoin, Monero etc is not profitable at home setup. But if u mine 10 small coins and even 1 gets popular, then it's worth it. That being said research is still important. Can't just start mining any new coin you see in the market.

I thought that before trying to exploit those crap, you should know the risk you will face when you are trying to cope with crap mining. So too strict in their project selection, we will not have an honest altcoin market with honest and good quality projects.

there are indeed many altcoins left behind and eventually die, because no investor wants to make transactions on coins, now not only mining, but trading must also be selective in choosing coins, to avoid the same events as our friend.

Any miner who has not enough resources to mine reputable tokens should not waste their funds paying for electricity and mining rigs. They can invest the funds they have in trading or IEOs. Investment in trading will yield more profit to them than what they spend mining worthless tokens. This goes to investors as well invest in reputable projects.

Anyone who had invested huge on mining equipments won't be ready to mine a coi which has no value yet so if you did means its your fault.But mining is still profitable but not for someone who has less powered miners so better mine coin which has less difficulty but has some value on the exchanges.

Altcoin mining is sometimes wasting time and costs. We have to be selective when choosing the altcoin we are going to mine and I think websites like coinmarketcap provide information about the rank of coins that can be mined, starting from information about the value of the marketcap and also the exchanger where the coins are traded

not only occasionally but indeed it will only waste electricity because when you do mining in altcoin that is all not too valuable anymore profit is not obtained too much anymore because the level of difficulty mining has been increased so it is better to just buy coins at the exchange which in my opinion is cheaper and can benefit more because there is no need to think about the cost of electricity and the cost of repairing mining equipment.

make this as a lesson and experience so as not to do the same thing for the future, hopefully all users here can learn from your bad experiences in the crypto world because work without results is the thing we hate the most in life.

Didn't hear that kind coin. Why not .stay at Bitcoin cant really trust some random alts this year
So any suggestion about best coin tobe mined this 2020?
It will really help  new miner or wanting to have some experience in mining.

Obviously, and this is definitely a very valuable lesson for everyone, including me personally, even though during crypto I have never done mining work, but things like this will be a very valuable consideration in my life.

the experience will make us better. we cannot reach the present stage if we have no experience. I guess everyone who trades crypto will surely experience a time of loss, but we can benefit after learning from what makes us suffer losses.

Thank you for the advice. But during 2016 to 2017. If you mine some petty coins you will surely get profit because all alts are going up prior to Bitcoin's bullish movement. Now that we are still in bearish period. Better stick to strong coins.

Monero also used to be one of the coins in this list but after a few darknet markets started accepting Monero then its price increased and it's demand rose to a new height, so I guess that was the lucky break that Monero was waiting for. If the same would have been the case with one of these projects then they would also have been profitable for you to mine. So its just a matter of bad luck for you to waste your time on these projects.

It isn't about the bullish or bearish trend of the market, its about the trend which the newly launched currencies follow, a few years back there used to be a lot of new projects that were based on mining and staking for earning mining rewards but now there isn't any mining involved in these tokens, now they are launched as IEO and ICO which doesn't require any mining so these coins that you were holding lost popularity due to the change in trend.

This is a sign of how far the market of altcoins has deteriorated, in the past people used their mining equipment to support a coin and obviously to obtain some profits while doing it but now that is not possible anymore as most developers are not really interested in creating something that will last for a long time, they want profits now and they are not interested in the long term well-being of their projects and this is very troublesome for those that have mining equipment because most coins do not last long enough for them to recover all the money and time they invested in mining those coins.

I just saw a few small coins that you said above and maybe only miners can find out. because the coins above are from mining. I don't really know about mining, but it's better not to mine unclear coins. it will only waste your electricity

Just make the positif things with your life.  Don't waste your time with bad thought.  There are so many ways to earn money in crypto world.  Don't waste your time with useless things.  Just deny the abandoned things.  But it will be better to keep it because we can not predict the future.

If we think that mining is really profitable in the past years it is unlikely not the same at this time. A lot of miners are leaving because they find out how hard to make money in mining crypto nowadays and make profit of it because their money is only enough to cover their huge expenses. It seems to say that there is a huge market change where miners have seen it already and I think it will get worsen in the future. May it happens that those big mining companies will still survive while the others will leave, that was a sad reality, and that also because the mining competition is getting strong as well.

Your experience is spot on for cryptonight as only a few good ones come out of that blasted algo like Monero. The rest are mostly trash and pretty much dead with very little people know about them.

Some very good coins run on cryptonight Algorithm like monero, dero, Loki, etc but many of those coins are useless, finding new coins to mine is like finding good ICO project to invest on, it's going to take lots of energy, doing research, I'm thinking that's what OP failed to do when choosing those coins, you choose wrongly

The problem is if he was trying to compete with the big miners and that will not bring him profit. It's better to stick into the another cryptonight coin. there are so many good cryptonight coins other than monero.