Let me start with saying I love mining, I used to mine ETH back in 2017 with a 6x gtx 1060 rig... it was fun and profitable. I was checking your post and I believe it is worth to mention about costs for those that don't have equipment yet and are thinking about invest some money in buying/building a mining computer or rig. Let me do a small exercise for ETH mining, using the same estimated value of $540 in a year. | GPU | 1050Ti | 1070Ti | | Price USD | 160.00 | 380.00 | | $/year | 162.00 | 390.00 | | Profit | 2.00 | 10.00 |
In that period, roughly covers the cost of the GPU, so profit should come over the second year; this is without considering the rest of the equipment cost: motherboard, power supply, CPU, etc. Now, let's also consider, if instead of buying a GPU, one buys ETH directly right now, and again using the same estimated value in a year of $540 and current price of $250. | Investment USD | 160.00 | 380.00 | | ETH | 0.64 | 1.53 | | Future Value USD | 345.60 | 826.2 | | Profit | 185.60 | 446.20 |
So, just as a complement to your post, so everyone who does not have equipment put in consideration. Those who already have it, while not using it, put some hours a day to mine and get some coins. That is the advantage of referring solely to mathematics. It is true that to venture into mining seems to have a certain prestige to those who wish to join fully in the crypto-universe, but if we leave aside the romanticism that implies being called "miner" and we focus only on the mundane matter of profitability, nothing seems more profitable in the medium term than buying coins instead of mining them, and this is especially true for those who have great confidence in the future of the market, but also for those who want to avoid excessive expenses and complications. |
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I have already read a lot of articles devoted to Bitcoin SV. There, crypto experts shared their point of view, telling us that Bitcoin SV could be the best gainer in the future. However, all this stuff seemed to be a form of hype. Before so much hype, I also was tempted to invest in Bitcoin SV, but I remembered that at the time something similar happened with Bitcoin Cash, and no doubt will continue to emerge new versions of bitcoin "improved" over the years that will continue to promise to be the most promising coin in the market. And meanwhile, King Bitcoin continues to reign comfortably, marking the pace of all the other altcoins, imperturbable and sovereign. Undoubtedly, the best long-term investment is and will remain The King BTC. |
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Regardless of whether you have guessed right based on real data or you have just played with the numbers in order to make us believe that you are a genius of analysis, I do not think that things work so easy in an open market, because if predicting a price would be like that of simple, we could all amass large amounts of money in an extremely easy and fast way, and you would not have to sell your predictions for $19.99 per month.  |
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Your opinion is very accurate and helps to clarify the misconception that many of us had in this forum. At least until now, I had always tried to participate in bounties that offered large rewards, because to me, being just a Jr Member, I will never aspire to get as many stakes as a Hero Member, so I always assumed that having more rewards, I would have more possibilities to obtain some significant income.
But now I will be more selective in my search, and in the next occasions I will take your advice very much into account. Thanks for the contribution.
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Yes, I have no doubt about it, because although it is true that large institutions tend to be reluctant to change, sooner or later they have to adapt to the new realities, and the incursion of technology into our daily lives is already a fact that can not be stopped. Example of an initial reluctance was Uber in its beginnings, but today no one doubts the great utility offered by its service in the cities in which it operates.
In the case of bitcoin, despite the great reluctance of the central banks, no one has been able to prevent it from permeating the global economy, and the tax authorities have had to adapt to this fact and legislate on it as a preamble to the mass adoption coming.
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This is one of the basic principles that every investor must learn from the beginning to last for a long time in this business with good results, because otherwise, the lack of discipline, greed and lack of mental control is what led many unwary to suffer heavy losses during the furor at the end of 2017.
Personally, I must admit that a lot of my investments are in cryptocurrencies, but I have known how to take advantage of the good times of the crypto market to diversify my investments in other markets, even knowing the great risks involved in trusting in the predatory banking system that predominates in the present.
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It is true that this type of technology could be very useful, but it is not the main key to a massive adoption. Above all, people have not come too close to cryptocurrencies because of their ignorance of how they work, the advantages that could bring them in their daily life, and because in most communities there are not too many options to use them in our daily expenses.
Once we advance in overcoming these serious problems we could then begin to implement technologies to facilitate their use, but in the face of low demand I think that this type of solution can still wait.
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I used to be one of those people very concerned to know all the information available about an ICO before investing, and I used to read any review available on specialized websites, but even that could not prevent me from falling into many ICOs that ended up failing or breaking the expectations created.
Therefore, research is not enough to guarantee a successful investment, because currently the chances of suffering losses in an ICO are over 90%, so anyone who decides to invest in one of these schemes should only be willing to invest the capital he or she can afford to lose.
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The good side of bounties
1; you will definitely make lost of money campaigning for good projects.
2; you might even get rich on the long term if you are good hold and able to detect good projects.
Perhaps the times of abundance are already part of the past for the bounty hunters, because at present it is difficult to find a campaign that allows you to earn a decent amount of money, especially when you are just starting out in this increasingly restricted sector, where every time you have to meet more requirements to qualify in a bounty, where you have to meet a demanding KYC process, where the ICOs are struggling more and more to meet their minimum goals, and where the campaigns are prolonged for an eternity, without any guarantee that the wait will be truly profitable. |
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I think the best coin to HODL is still bitcoin ,65% of my money are in bitcoin and the rest on altcoins like ETH and LTC ,gone are the days when you will see 2000% of altcoins ,bullrun has been around for months now and altcoins aren't favouring that much,they will be profitable but not just like 2017 pump
I totally agree with you. After the tragic performance of most of the altcoins and tokens funded through ICOs, which have currently meant a loss of up to 95% for naive investors, this has caused potential investors to prefer safe and reliable cryptos such as bitcoin and ethereum, and that is why after the dominance of bitcoin came to fall to levels close to 30% a few months ago, at this time it has recovered to levels close to 60%. And that's why at the moment I also have most of my investments in crypto distributed in bitcoin and ethereum, and only a small percentage of less than 10% is distributed in altcoin in order to speculate in the short term. |
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This is the kind of decision that every investor faces as part of their daily routine, and precisely the ability to keep a cool head in the face of the rumors that swarm everywhere is what differentiates an expert from an apprentice.
Personally I think it is never a good decision to buy after a strong bullish rally like the one observed a few days ago, so we must remain as astute hunters stalking our prey, waiting for a major correction to enter the market and buy at the right time, even when the bitcoin is worth 100K, it will be a good offer to buy at $60K after a major correction, although at this time buying at that price may seem crazy.
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Can something like that actually be profitable? Even assuming that we save the investment in smartphones using some old devices (which would undoubtedly reduce their efficiency) the processing capacity is still very small. In such a case it would apparently be better and more practical to use PCs to mine that altcoin, or am I wrong?
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No, the ICOs are not disappearing, they are simply transforming and evolving into schemes that provide a little more security to investors, because the 2018 crisis made it clear how inconvenient it can be to invest in projects that end in a great failure in more than 90% of cases.
Therefore, rather than being the next "big thing" in cryptospace, IEOs and STOs are nothing more than ICOs with a new name, but without too much background changes because crowdfunding, the essence of this business, is here to stay.
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Unfortunately this capricious market has proved too cruel to people committed to supporting a project in cryptospace, at least that happens with most of those who have decided to invest in ICOs or participate in bounty campaigns, so that over time many we have learned the importance of occasionally having weak hands and allowing us to sell as soon as a good return goal is reached.
However, I also believe that selling tokens at a price as low as many of them currently have is not worth it, and we will have to carry them with us (by force) to the cemetery.
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I have always thought that if after one year of get listed an ICO is unable to comply with its roadmap, nor is it able to build a solid base of followers or committed investors, that ICO will die gradually, so most of the tokens that were offered in bounties in 2017 and 2018 will soon be forgotten. If you can sell them now, if you find an interested buyer it may be worth getting some satoshis for them, although in the case of ethereum-based tokens sometimes the fee for the transaction is more expensive than the possible profit.
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Veil needs to be listed on bigger exchanges to bring an attention to this project. Is there any announcement that some big exchange will list Veil?
I know about recent listing on Hubi. But it doesn´t help enough with the attention and trading volume.
It is the common mistake crypto people does. We are not seeing much product so the only way for a coin to get more value is listed on a bigger exchange. Like, 0.13$ right now listed on idax 0.20$, listed on kucoin 0.30$, listed on binance and it is 1$. But the product didn't change price only pumped because it listed somewhere else. And it will return to current price because it is the same coin. We need development, maybe some partners for steadily price grow. Not some listings for quick pumps. And then we can be listed on a better exchange of course for better liquidity. I agree with you. I have collaborated in different projects with an interesting growth potential and many newbies believe that the basis for a certain token or cryptocurrency to reach a high value is to be listed in a recognized or high volume exchange like Binance, which is totally false. And that is why continuously this and all other exchanges have to purge the listed tokens because due to lack of development or loss of interest of investors, they end up becoming failed projects. That is why the basis of a real and sustainable growth of any project consists in an adequate development, in satisfying the expectations for which it was created and an important promotion work. |
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I can not imagine the immense amount of time you have to dedicate to a game like this in order to obtain a decent amount of income under the concept of "mining". Nothing like passive income that ultimately involves real mining. In any case, if you try to get some cents for clicking all day on a PC, perhaps many would prefer to return to the faucets, despite how boring they are.
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I doubt that history can be repeated again, although I see that there are many people who are hopeful that the 2017 rally will be repeated again these days, something that will never happen. If something characterizes the markets is its unpredictability, because if things had the tendency to occur in a similar way every certain period of time, this would be the easiest business in the world.
In addition, it is needed to have a very short vision to not realize that the rally is already happening right now, and since the month of April. I do not know if it will be more intense or smaller than the one in 2017, but that it will be different, without a doubt it will be.
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Undoubtedly bitcoin is still very cheap for those who make movements of such magnitude, but for those who can only afford to move a few satochis without a doubt the cost of transactions start to seem a little expensive, and if we take into account that in real life most of our transactions are to cover minimum payments (a coffee, a cigarette, groceries, etc.), then the price to pay for using the bitcoin starts to seem a bit expensive compared to other payment systems.
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Undoubtedly there will be a greater disappearance of bitcoins every time, because many of those who now own bitcoin will tend to make erroneous transactions, forget their private keys, or they will die without revealing their bitcoin holdings. But I do not think that the proportion of bitcoins lost is of a significant magnitude, because even if 99% of the existing bitcoins were lost, the use of decimals could be extended from 16 to 20, 30 or more so that the bitcoin ecosystem can function optimally, which would also be reflected in an astronomical price of each bitcoin.
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