I have been bitcoin mining in 1 shape or other for a while. It started out (like for many others) as an interesting technical ‘project’ (graphics cards / block erupters) and evolved over that time into an investment in single purpose mining hardware and home based IT set-up with the purpose of generating a passive income (which for a period of time it sure did).

However, over the recent months I have come to the realisation that for me that goal of passive income production from a home based mining operation has run its course. I don’t have access to free or cheap electricity and I don’t have access to industrial scale purchasing power for mining equipment, so with difficulty at 35, (insert lots of zero’s!!!) and global hashing power at 250 Peta hashes I can’t keep upscaling my hashing contribution to maintain enough profitability.  It is time for a strategy change.

The majority of my mining has been with the GHash.IO pool and that has been a great service. I have coins generated from mining within my CEX account (some of which I have been turning into Doge) and as they have recently expanded the exchange part of their service offerings (with the addition of fiat and more crypto pairs) plus the (hopefully) current low price of bitcoin my strategy change is to get out of mining and focus on trading and investing of bitcoin and other crypto coins. My CEX account is also now verified for fiat, so I have a whole bunch of funding and trading choices there, plus the platform is solid and so is the security.

I have already sold some of my oldest miners via EBAY and will probably do that with the remainder I have (which now is a handful of S3’s). I’ll reinvest that money to my CEX trading account. 

I have traded before but would far from call myself an ‘expert’ after all I have been buying Doge recently when it was 100 satoshi!! (Still buying some now with my small BTC mining rewards though). So will go on a learning journey of crypto trading, there is great resource here, CEX have a good trading blog and i will do some research. My aim will be to generate an ongoing income stream from trading, similar in intention to the aim from mining rewards.

If anyone out there has some comments on good education resource or why I shouldn't sell the miners or why I shouldn't do some trading or in fact why I should, please share. Am now off to the Speculation thread ;-)

I have been mining and holding / using BTC for a good few months now and have kind of been blinkered to other coins, sure I was aware of them but never really considered buying / mining / investing in them.

In the past few weeks I have taken off my blinkers and actually realized I have been missing a fantastic opportunity, what do i mean by that? Now I am converting all my mined BTC rewards into Doge, I am not a Doge expert 'shibe' or whatever and I am not buying any scrypt hardware (probably not buying anymore hardware after my S3's).

I was previously just Bitcoin focused, but the price stagnation, rising difficulty and lower rewards made me use my brain a bit more and actually take some proactive action rather than just sitting on my BTC. Great thing Using GHash I can immediately use the mined rewards buy Doge on CEX, no need to transfer anywhere else. I know this isn't Dogecointalk just wanting to share my current story. Anyone else doing similar with BTC mining and alts or something else?

Why Doge? Charts below tell the story.....

Didn't quite know where to post this, but here will do.

Heard of Bitcoin? This 3 minute video is a bit of fun, a bit of education and a tiny bit of advertising all in one.

Enjoy.

 http://youtu.be/gD4llSr-Ik8