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You can also use it to mine Monero. But it would be wise if you consider the cost or electricity involved, as it might be unfavorable in addition to the fact you might end up with little or unfriendly profits. Don't be surprised that after due diligence by you, you will see reasons to buy and hold ETH rather than risking unprofitable mining.
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First both are good choices, but since you have enough fund, I will suggest GPU mining as you can resale it for a good value should you not want it again unlike ASIC. Also, you can customize it to suit your taste as well as switching algorithm.
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That's true BTC is on the rise while just small altcoins are on the move gradually, while I think now most people are giving more attention to BTC hence the reason ETH is staggering, but one thing is sure, ETH will grow likewise soon as the market is picking up gradually. So we just have to be patient.
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In my own opinion, a coin or project can only have a future when the team are making adequate efforts to offer value to investors while enhancing the project as well. Can't remember the last time I heard about this coin, so if the team aren't offering new ways to make the project relevant then it will die off.
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Not only is patience highly needed in the crypto space, it is also needed in all affairs of life. Within the crypto space, it is wise to first learn how things works thus being smart to make the right decisions, and when these decisions are made it is then important to be patient and wait for the best. So in my own opinion, both patience and smart work, matters a lot.
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Indeed price isn't everything. When a project is on the right track with the team at every stage building or improving their products and services, the investors will be at ease while holding and believing in the long term profit.
But if the team fails to give investors the needed assurance, that's when price will be the other of the day.
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That's true, a project achieveing hard cap is not a yardstick that it will do well. I think most of these projects might be a product of hype, thus driving investors into investing.
In my own opinion, whether soft cap or hard cap, if the team lacks the relevant experience they will fail to develop the product and services they promised. Moreover, there are projects which are self-funded yet achieveing their aims and objectives.
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Taking a good look at IEOs nowadays I tend to agree with you. Because all that matters now is the anticipated profit and not in the potential of the project anymore.
On the hand, to answer your question; IEOs are not bad at least I don't think there have been any news of investors getting scammed. In my own opinion, IEOs will do well on the long run if they are properly managed.
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One thing about this space is that it is hard to be predicted.
ETH is a trustworthy project, whose team is always looking for ways to make the blockchain scalable, and thus, owing to its current price and recent growth $200 after the upgrade looks achievable.
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I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?
If not please tell why?
To be frank I will never try this. Yes cryptocurrency is still involving and might reach a stage where one can be able to borrow, but as it stands now and with the volatile nature of cryptocurrency borrowing in cryptocurrency is a bad idea as it is too risky. |
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You carefully stated it all; as it stands now any investor or individual going after hyped projects is only risking his funds, as most of the time if not all times, they don't deliver and only comes up with unwarranted excuses to cover up their incompetencies.
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I kind off wonder why we keep having some repetitions of already existing project, and the developers keep saying "oooh the existing project is not scalable" for example, some projects have been born because of low transaction per seconds of the ethereum network(TPS), which of course does cause serious problem for the overall network ecosystem. This ethereum developers have moved to try and arrest by the upgrade called "Constantinople".
The world have many areas that need the help of blockchain, for example the recently concluded election in Nigeria was filled with violence, killing, rigging and snatching of ballot papers, together with mass voters apartheid in subsequent election. All these would have just been handled with the aid of blockchain voting, without fear of been hacked or hijacked. The sighted example and many more is just one area that really defines adoption. It's possible to create coin and during the election period, the government can be made to pay for the blockchain services by buying the ecosystem token, which is not a must.
The bottom-line is that: Instead of having many failed projects in this space, developers should come forth with strong and life application project and not to keep imitating other projects like we currently have a spray of exchanges with their tokens, the immediate gain of quick money should be kept aside and developers should try and bring up a feasible challenging problem, to solve many human yearnings.
That's why only potential projects keeps growing in value, because they have a good use case. Every now and then new projects keeps coming up, yet only a certain few delivers as promised, while others either don't list on exchange or just list and allow the project to die. |
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You have said it all and that's nothing but the truth. I believe at this juncture in the crypto space, investors are ought to wise and learn to stop following hype. Imagine a new exchange hosting an IEO, seriously one needs to be careful on what he invest as most of these IEOs has nothing to offer.
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In mining, electricity plays a very big role, as it has a huge effect on the payout or profit the miner goes home with. Owing to the fact PoS tends to be energy efficient, I think it will be the future of mining.
Just like many individuals, am waiting for ETH to make the move.
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Sincerely, mining with personal computers don't worth it anymore. Not only will you pay more for energy, you will also put your hardware at great risk, at the long run end up with little or no profit.
Many have said it all, and it will be wise to listen to the opinion of majority.
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This is a really nice analysis perfect for beginners.
Being that I like trying new things, I think I would like to venture in this, as I realized it uses x16R Algorithm and also ASIC resistant, thus one of the reasons RVN has became popular and valuable.
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Yes I agree with you, have checked about it and I must say, overlooking the cost and focusing on its potential, one can really make a reasonable profit. I think Its about time I give it a trial.
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Although am not a fan of price prediction, but recent happenings or rather the growth of Bitcoin recently, one might not be mistaken for saying such. Nevertheless, I will hold and buy more the market recovery might be sooner than later, just hoping for the best.
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The blunt truth is, there is no coin better than Bitcoin not now and looks there will never be. Bitcoin is highly valuable and owing to this owned by almost all users or individuals with this space. It has passed through stages or phases which made it what it is today, so comparing Bitcoin with any how altcoins looks kind of Insulting.
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As you know IEO trend is growing but i feel IEO is profitable only for those who invested in token sale but who have purchased altcoin after launched they suffer loss majority of the investors ,as the BTT and some other altcoin examples of IEO.
IEOs are only profitable when you get in at the right time, if not you might end up in loss unless you are a good holder. In my own opinion IEOs are only better than ICOs because there is less risk of scams and investors buys tokens with confidence and at ease. |
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