SistaFista
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Hexhash.xyz
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March 27, 2019, 07:50:46 AM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule. So what is your experience? Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
Of course mining is less profitable than trading, because all cryptocurrencies are in the bear market. Logically, if mining not profitable anymore, many miners will stop mining and the difficulty will decreasing, so we can mining with higher rate of incomes, but even it is not too profitable, miners keep mining coins and and the difficulty is not decreasing too significant. So, i agree that buying coins and trading will be more profitable if you gain.
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raven7886
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March 27, 2019, 01:39:03 PM |
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I prefer to buy coins than to mine, this is because my electricity cost is not low and I can’t break even. Another reason is because it is more straight forward to buy rather than mining for a period of time.
The market really need more miners now and I will implore that we don’t discourage people that would want to mine if they have the money and they can afford to wait for a very long time to reap the fruit of their mining. Because, I don’t think mining is really profitable in this bear market as I have read online several times where some miners are quitting mining due to loss they are having in this bear market as a result of the high cost of operating it now without any or much profit. The best time to go into the mining business is when the market is bullish; otherwise, we just keep buying coins and keep it for now.
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bhabygrim
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Best Bitcoin Casino www.coinsaga.com
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March 27, 2019, 01:50:14 PM |
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I think it is better to buy them it is much more easier if you just want to hold some of them, But if you want to earn consistent crypto then invest in a mining hardware but it would really cost too much . You would need to maintenance it to make sure that it is working properly and make sure that it is in a good condition . But if you are into PoS then you don't have to do anything if I am right you could get some more if you just hold it for a period of time.
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D1jay
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March 27, 2019, 01:54:09 PM |
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best option will be to buy than to mine especially when you don't already have the hardware equipment to start mining and you are thinking of purchasing one for the purpose of mining alts, this will require more capital which will be more than enough to pick up some good alts that will most likely do well in the long run.
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Kiweikoo
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March 30, 2019, 08:09:41 PM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule. So what is your experience? Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
First of all, it would cost a lot of money for anyone to be able to buy and maintain a cryptocurrency miner, so I believe this question is for the whales in the space, because an average person might not be able to afford a miner and I think buying is the best option for that person. Buying is more easier than setting up miners because buying can be done with any amount of money but miners not huge capital to get good returns.
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pishite
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March 30, 2019, 08:34:03 PM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule. So what is your experience? Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
I agree, profitable now pos mining, there are no large energy costs. But there are some nuances: - you need to keep your wallet online 24 hours a day - amount on the balance of at least 1000 coins, and if the masternode is more. - not cheap equipment. Raspberry is not suitable since there little RAM, necessary suitable pc, laptop or intel nuc
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Raizou
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March 30, 2019, 08:40:31 PM |
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Just what appears to attempt to mining consolidated projects ends up causing this disillusionment with PoW, but have you ever thought of speculative mining? If you have interesting mining capacity and a nice cost of electricity so you can practice it, you'll probably do great deals if you're clever. I did a speculative mining with Bridgecoin in 2017 and the result was insane. I had problems with other coins too.
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Sanford
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March 30, 2019, 08:57:29 PM |
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Just what appears to attempt to mining consolidated projects ends up causing this disillusionment with PoW, but have you ever thought of speculative mining? If you have interesting mining capacity and a nice cost of electricity so you can practice it, you'll probably do great deals if you're clever. I did a speculative mining with Bridgecoin in 2017 and the result was insane. I had problems with other coins too. Yes, I do not think that mining is profitable today, large projects continue to do this because 5% is a profit and no one will stop but small farms have already died. Or you are a giant or do not mine. And if I'm wrong, then where is your profit brother
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timmmers
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March 30, 2019, 09:10:19 PM |
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Altcoins are now so cheap that mining doesn´t make any profit and mining them now and selling late for a profit is not better than buying them now and selling them later. Because think about the costs: expensive hardware, electricity fees and time. Rather by some coins now and forget about them, come back later and enjoy your profit.
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Bloodseekers
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March 30, 2019, 09:12:12 PM |
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Mine or buy, actually if i can mine i will choose mine, the reason is simple because we earn coin every time, every day, yes less but always. Diffrent if buy, we can easy earn so many coin but after we sell it all gone, sometime we want sell high than buy back with low price but the price keep grow and we lost it.
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94K
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HiveNet - Distributed Cloud Computing
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March 30, 2019, 09:28:56 PM |
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Its on a personal basis. It relies on the investor to decipher whether to mine or buy. In my opinion, altcoins prices are low on the market now so it's not a good idea to mine at this time. Instead buy these altcoins and hold them for profits later.
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uralcryptocoin (OP)
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SIGNATURE CREATION by uralcryptocoin
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May 10, 2019, 07:32:35 PM |
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Well, now I would like to start an experiment: What will be better from the current moment: buy a mining hardware or buy cryptocurrency. In real I will not buy mining hardware because I already have it. So I ask to estimate my mining farm in usd: The config looks as follows: GPUs: 8xGTX1070, Tri-slot Palit SJS MoBo: Asus Prime z270a CPU: Pentium G4400 RAM: 8Gb DDR4 Kingston Hard Drive: SSD 120Gb Kingston Case: myself-made 8GPU case 7 USB Risers, 18 fans 120mm Delta AFB1212ME PSU: 1600W SuperFlower Leadex Gold
Lets imagine that I bought that hardware now at current corresponding prices. The same amount of funds I will invest in altcoins And after year of earlier or later it will be possible to estimate what the way is the best. I think weekly or monthly reports will be enough
I would like to know your opinion)
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
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103deltafox
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May 11, 2019, 01:13:27 PM |
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Mining comes with alot of stress like cost of electricity, cost of mining equipment. The desired profit might not be much. I prefer ro safe myself the stress and just buy the tokens at a low price and hold till when price improves
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uralcryptocoin (OP)
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SIGNATURE CREATION by uralcryptocoin
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May 11, 2019, 03:54:34 PM |
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Mining comes with alot of stress like cost of electricity, cost of mining equipment. The desired profit might not be much. I prefer ro safe myself the stress and just buy the tokens at a low price and hold till when price improves
I forgot to specify my electricity cost. It's relatively low about 0.05 USD per kWh Don't forget that your hardware doesn't lose all of its value. You can still resell it on eBay etc. as long as it's still working. Obviously it's easier to resell your used computer hardware than reselling an ASIC-miner. For now I'd argue that the electricity-price matters the most regarding the profitability of mining.
Few month ago I sold several of my GPUs and other GPU-rig equipment. And it was harder than it looks. The price was enough lower than I expected. Even when I sold unpacked unused PSUs and I had to reduce my offer more than 30% of market price to find a buyer. So I think it's another myth that mining hardware has enough residual cost especially at downtrend and flat market.
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
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newgal2017
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May 11, 2019, 04:52:07 PM |
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I would say I would just buy since mining requires energy, equipment and maintenance and you would likely recover from your investment after a few months and you're immune to the price dump at that time which you can be on debt by creating or making a rig rather than buying you can instantly earn in a few minutes or days and if you're likely to lose it's not that big rather than mining wherein you still paying electricity even the market is at bear since you need to run your mining equipment.
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shaheer001
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May 11, 2019, 04:57:16 PM |
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I have not a good experience in mining i prefer to buy and hold coins, Mining is also good if you have cheap electricity and good machine for mining.
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Callanta787
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May 11, 2019, 05:00:36 PM |
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Same for me ,I built my mining rigs in 2017 and after lastbullrun its not profitable to mine so I switched to buying coins and using POS instead ,no more heats and noise
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ra_pl
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May 11, 2019, 05:34:47 PM |
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When it comes to mining it's a bit expensive in my country based on the electricity costs. They are a lot of coin which you can mine, depending on the system configuration. I perfer holding and staking my coin.
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trickyriky
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May 14, 2019, 05:28:27 PM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule. So what is your experience? Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
I also think that mining does not bring as much profit as trading, and, sometimes, holding cryptocurrencies. You will spend on the hardware much more than you earn on this process.
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bitcoin-shark
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May 14, 2019, 06:50:29 PM |
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i believe by now it is no longer convenient to mine anything but we have to buy those altcoins that somehow give dividends for their possession (neo, xpundi, mnx)...
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